Hugh Lilly Stockton Real Estate

Foreclosures comprise approximately 20 percent of homes for sale that closed escrow in the third quarter according to RealtyTrac a leading reporting company in the U.S. There has been a notable decline from the third quarter of 2010 when foreclosures amounted to over 30 percent of home sales. During normal housing markets foreclosures were 5 ...

Low mortgage rates likely to continue through 2012The mortgage market did not live up to predictions from the experts for 2011. Record low interest rates for mortgages are the lowest in 40 years, but very few potential homebuyers took advantage of these rates and record low prices for homes in Stockton and nationwide. There is a great deal of ...

Short Sales Can Benefit You When It’s time to Buy a New Home: Recently Fannie Mae has adopted policies loans associated to the time that is necessary before borrowers can show they have reestablished a satisfactory credit history after a short sale or foreclosure.Foreclosure: At this time Fannie Mae requires 5 to 7 years from completion of a ...

My team recently received the following e-mail from a homeowner in Stockton: “ My wife and I are underwater in our mortgage we have not made payments in 3 months, I recently was cut back on my hours at work and it looks like I may lose my job. My monthly payment on my adjustable rate mortgage is increasing. We have exhausted our saving and ...

**Please leave a CommentSeller financing is difficult to find but it is out there and we don’t find a lot of this type financing available in Stockton. The seller assists the potential buyer in purchasing the home by lending the buyer either a portion of the amount to be financed or the entire amount. Seller financing can be a good strategy ...

Price of homes in Stockton have declined to a purchase price that homes have become more affordable. Young families and middle income families and now more than every able to live the American dream and own a home. The pieces are in place for many to own homes; lower mortgage interest rates, lower prices and low down payment FHA loans. FHA loans ...

The Foreclosure Process in California: Mortgage lenders in California may foreclose on deeds of trusts or mortgages in default using either a judicial or non-judicial foreclosure process. It’s important to know the difference. Most home owners with homes in Stockton want to avoid foreclosure and they do have options.Judicial Foreclosure: ...

2012 is rapidly approaching and many of our clients and homeowners in Stockton and Lodi are thinking of taxes. The good news for those home owners that are short selling their homes is they still have until December 31st 2012 to take advantage of the Mortgage Forgiveness Debt Relief Act of 2007 which provides some relief from the IRS short ...

Consumer confidence improves in December The Conference Board Consumer Confidence Index improved to 64.5 (1985=100) in December, up from 55.2 in November. The Present Situation Index increased to 46.7 from 38.3, and the Expectations Index rose to 76.4 from 66.4. Consumers' assessment of current conditions improved in December. Those stating ...

One of the important consideratons in doing a short sale is who is the actual investor. Just because Bank of America, Wachovia, Wells Fargo or Chases name is on you monthly mortgage statement doesn't mean they own the loan. This is important for you to know when considering a short sale. There can be three layers when trying to get a short ...