Hugh Lilly Stockton Real Estate

Common Short Sales Myths There is a lot of misinformation about short sales about short sales that prevent underwater home owners from getting the relief they need. It is important to consult with a real estate professional, tax attorney or CPA that is knowledgeable about short sales and foreclosures. Underwater water mortgages are here to ...

The condition of homes is extremely important and first impressions do count and that goes for short sales. Short sales many times have an advantage over foreclosures because of being in superior condition. Conventional sellers or better known as equity sales recognize when marketing their home that staging and condition are of prime importance, ...

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 ...

2012 is ramping up to be the year of the short sale in Stockton and San Joaquin County. I talk with homeowners daily that are faced with the choice of giving up everything they have worked for and making monthly payments on their home, even though they love their homes, are deciding to short sale. Homeowners want to be optimistic and wanted ...

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 ...

Good news for Stockton Investors and homebuyers, flips are in. For the second year in a row, the Federal Housing Administration is extending a temporary waiver of its anti-flipping policy, meaning homebuyers using FHA financing for mortgage loans will continue to be able to purchase homes that have closed escrow in the past 90 days. Flips continue ...

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 ...