Friday, November 21, 2008

Fannie Mae Will Halt All Foreclosure Sales

Fannie Mae has issued a Lender Letter announcing that it will halt all foreclosure sales on occupied single-family properties that are scheduled to occur between November 26, 2008 and January 9, 2009. This halt also applies to eviction lockouts of occupied single-family properties. During this period, lenders are encouraged to continue working with borrowers whose foreclosure sales have been halted to pursue possible workout solutions. What does this mean to you? Well, I may just be jaded but I think it will just mean the market will be flooded with new foreclosures after January 9th. Sure hope I'm wrong.
To read the entire news release go to the Fannie Mae site.

Thursday, November 6, 2008

Warning!!!! Don't Be Fooled

Scam Alert – No Fee Necessary for Value Reduction

Various private companies are sending mailings to property owners offering their services to pursue a reduction in their property taxes. These companies may charge hundreds of dollars to file for a reduction in value on behalf of the property owner. We are aware of a company in California charging $171 for its services, even imposing a $67 late fee if the application is received late. Be aware that solicitations from private companies offering to pursue a reduction in property taxes must clearly indicate that they are NOT a government agency and that their services are NOT approved or endorsed by any government agency. Failure to provide such notice is a violation of California law. If you or someone you know receives an illegal solicitation, please contact the Los Angeles County Department of Consumer Affairs by phone at (800) 973-3370 or visit their website.

San Fernando Valley Real Estate


Subscribe Now

Subscribe and never miss a post. RSS Feed