41194 Toledo Drive Hemet CA 92544

Absolutely stunning Single Story home in highly desired area of Hemet.  This lovely 3 bedroom, 2 bathroom, 1,158 square foot home boasts a lovely open floor plan.  Entering this home you are greeted with a beautiful foyer that features custom flooring and unique ceiling design.  The Family room features a custom fireplace, laminate hardwood flooring, upgraded tile flooring, and many extras.  A gourmet styled U-Shaped Kitchen is perfect for entertaining or enjoying the entire family while preparing meals, plus the eating area or Dining Room is attached to the kitchen so guest and family are never felt left out while preparing your favorite meal.  The oversized master bedroom features a walk in Closet and retreat/seating area, plus a fantastic Master Bathroom.  Both additional bedrooms are spacious and have views of the extra Large yard.   You will simply love the large lot that features an almost maintenance free front yard, Large block wall fenced in back yard, and a custom patio with awing which is perfect for kids and entertaining.  The side yard also has RV Parking available.  Close to shopping and located on a quiet street.

This home is listed by Troy Sage of The Sage Group at Keller Williams.

Please feel free to contact us for more information on this or any home, or if you’re interested in scheduling a showing.

See a Virtual Tour of this Property by Clicking Here.

Hemet Homes for Sale, Single Story home with RV Parking – 41194 Toledo Drive is a post from: Temecula Real Estate-Temecula Homes For Sale

Temecula Homes for sale and short sale news.  This edition of short sale news I explain how the major lenders are attempting to help homeowners avoid foreclosure by offering more loan modifications, short sales, and better customer service.  I met wit Chase, Citi, Wells Fargo, Bank of America, and Fannie Mae this week.  All the lenders are stating their main concern is keeping customers happy.  Meaning the are doing all they can to keep people depositing money in their bank.

Chase has promised more money to homeowners in distress by offering incentives of up to $35,000 to homeowners that sell their homes as a short sale, instead of allowing a foreclosure.  Citi is offering a more streamline short sale package, and is also offering money to homeowners to sell their property as a short sale.  Wells Fargo and Bank of America have both decided to participate in Co-Op Short Sale programs.  Meaning if you have a Bank of America or Wells Fargo mortgage, both banks have a program in place to quicken the Short Sale approval timeline, and give homeowners cash at closing.

All 4 lenders also mentioned the HARP 2.0 program, HAFA program, and each bank now has their own version of a Co-Op Short Sale.  All of these programs are designed to help homeowners either stay in their home, or help them avoid foreclosure and give the homeowner money at the close of the short sale escrow.

All of this news was announced at the Short Sale Mastermind held in Orlando FL last week.  As I attended this mastermind, the most common statement from the banks is their want to keep customers happy and stop the foreclosure rate from increasing.

If you or anyone you know is struggling to make a mortgage payment, now is the time to consider a short sale.  Feel free to contact me for a free consultation on how to avoid foreclosure and rebuild your credit.

Video hosted by Troy Sage of The Sage Group

Short Sale News, Temecula Homes for Sale hosted by Troy Sage is a post from: Temecula Real Estate-Temecula Homes For Sale

Temecula Homes for Sale, and Real Estate News hosted by Troy Sage

Today’s local Inland Valley Real Estate market has turned and we are now facing a true Sellers Market.  Short Sales are being approved at a much faster rate than in the past, foreclosures are down, and there are several buyers for each property.  Watch the video below for more information.

Please feel free to contact us with any questions.

Temecula Homes for Sale, Market update Feb 2012 is a post from: Temecula Real Estate-Temecula Homes For Sale

Temecula Homes for sale, and industry news is spreading the word about  our local market and real estate happenings.  Wells Fargo is taking a giant step in helping local Temecula area homeowners avoid foreclosure.  With several Federal programs in place, Wells Fargo has stepped up their game and has decided to not only help homeowners, but the lender is inviting homeowners to a Foreclosure Avoidance Seminar this month.  If you or anyone you know have a loan with Wells Fargo, this is a must attend.

Homeowners facing foreclosure are invited to attend a potentially home-saving seminar through Wells Fargo & Company’s free Home Preservation Workshop.

Wells Fargo’s Home Preservation Workshop is planned for 9 a.m. to 7 p.m. on Feb. 14-15 at the Ontario Convention Center, located at 2000 East Convention Center Way in Ontario. (Flickr: moneyblognewz) 

“We’re seeing some really good results from the workshop. About a quarter of the folks we see get an answer on the spot. And information received puts an average of two out of three homeowners on the path (to saving their homes),” said Diana Stauffer, Wells Fargo Home Mortgage SVP & regional servicing director for California.

Read Real estate horizon looks a bit brighter in Southwest Riverside

The event is planned for 9 a.m. to 7 p.m. on Feb. 14-15 at the Ontario Convention Center, located at 2000 East Convention Center Way in Ontario.

Stauffer said that roughly 16,000 homeowners have been invited to the workshop from Riverside, San Bernardino and surrounding counties.

“We will absolutely accept walk-ins,” Stauffer said, adding that this is the 14th such event to be held in California and the 54th workshop nationwide.

Homeowners can expect a welcoming atmosphere with professional greeters, a kid-friendly area with movies and books and popcorn, she said.

“I know there is a lot of uncertainty and fear when people walk into the event. People are nervous to come. We try to make it as relaxing as possible,” Stauffer said.

Homeowners should come prepared with loan documents and plan on the process taking at least a few hours.

“The intake process involves collecting financial information. We’ll have a waiting area where people can meet with local non-profits for questions about budget issues,” Stauffer said.

Ultimately, families will meet with Wells Fargo retention specialists who will offer advice and guidance on whether or not a loan modification could be an option.

Bilingual specialists will also be on hand.

Walk-ins are welcome, but registration is strongly recommended in order to guarantee the ability to meet one-on-one with a representative.

Wells Fargo and Wachovia customers are urged to register by Feb. 12 at www.wfhmevents.com/leadingthewayhome.

For more information call 800-405-8067.

News and information brought to you by www.SWRNN.com, Kerri S. Mabee,, and Troy Sage

Temecula Homes for Sale, Real Estate News from Troy Sage is a post from: Temecula Real Estate-Temecula Homes For Sale

Approved Bank of America Co-Op Short Sale.

Great first time home buyer or investment property. This wonderful 3 bedroom 2.5 bathroom home feels much bigger than it is. Entering this lovely Open Floor Plan home you are greeted by a tall entry door that leads you to the foyer. From the foyer you can either take a journey to the upper level, or step into the Family Room which features Vaulted Ceilings and natural gas fireplace. Just off the family room is a large Dining Room with Counter Seating that extends into the quaint Kitchen. White cabinets and Stainless Steel Appliances accent the U-Shaped kitchen. Just off the kitchen is the laundry room and a half bathroom. The upper level features the Master Bedroom with vaulted ceiling, master bathroom with upgraded vanity, counter tops, sinks and faucets. The master bedroom also features a Walk In Closet. Down the hall from the master bedroom are two additional bedrooms and full bathroom. This home has a wonderful back yard with plenty of room to entertain, kids play area, or pets. Located in Paloma Del Sol, one of the most desired neighborhoods in Temecula. Enjoy 5 association pools, 3 lighted Tennis Courts, and over 100 acres of common area including parks and walking trails. Award winning schools, low tax, close to shopping and freeways.

For more information or to schedule a viewing please contact Troy Sage of The Sage Group – Keller Williams

Approved Bank of America Co-Op Short Sale,31967 Calle Ballentine , Temecula 92592 #Troy Sage is a post from: Temecula Real Estate-Temecula Homes For Sale

52998 Sweet Juliet LN , Lake Elsinore 92532

Rentals in Lake Elsinore California brought to you by Troy Sage

Beautiful 4 bedroom 2.5 bath rental in one of the most desired areas of Lake Elsinore. Entering this beautiful home you are greeted by stunning Custom Tile Flooring and Vaulted Ceiling, giving this home a simply fantastic Open Feel. The entry level includes a Gourmet style Kitchen with Granite Kitchen Counters, Formal Dining Room, Separate Living Room, Family Room with natural gas Fireplace, and 3/4 bathroom. Traveling up the beautiful staircase you arrive at a large upper landing and loft area with extra storage. The large Master suite features an oversized Walk In Closet with mirror wardrobe doors, beautiful mountain views, and a Master Bathroom with separate tub and shower, double sinks, and custom tile accents throughout. All three additional bedrooms come with intercom and mirrored wardrobe closet doors. Upstairs Laundry is a true plus so you never have to carry your laundry up and down the stairs. The back yard features a Custom patio, Cabana area, and beautiful Mountain Views.

For more information or to schedule a viewing please contact us directly via email or phone  (951) 667-7776
Click here to see a Virtual Tour

Stunning Rental, Real Estate News by #Troy Sage is a post from: Temecula Real Estate-Temecula Homes For Sale

32862 Silver Charm CT , Menifee 92584, Bank of America Approved Co-Op Short Sale #Troy Sage

Absolutely beautiful 6 bedroom 4.5 bathroom home with a 4 car garage, located on an oversized corner lot. Entering this lovely home through double door entry, you are greeted by upgraded tile flooring in the foyer, a stunning Formal Dining Room with Butlers Pantry that leads to the kitchen, and Formal Living Room. As you travel past the living room there is a lovely half bath, then you will be pleasantly surprised by the large Family Room with natural gas fireplace and the Gourmet Styled Kitchen with Center Island and upgraded solid surface counter tops. The Entry Level Bedroom has it’s own full bathroom. Upstairs is an amazing extra large Loft area, 4 additional bedrooms, two bathrooms, and a stunning Master Suite. The master suite features a large Master Retreat, with Glass Sliding Door that leads you to the master balcony. Master Bathroom has separate tub and shower area and a large Walk In Closet. Additionally, one of the large upper bedrooms also comes with it’s own full bathroom and walk in closet. The back yard is larger than most and ready for your special touches. Amazing views, close to shopping and freeways. This is a Must See.

32862 Silver Charm CT , Menifee 92584, Bank of America Approved Co-Op Short Sale #Troy Sage is a post from: Temecula Real Estate-Temecula Homes For Sale

Newsflash for Sellers, Buyers, and Agents.  Bank of America has changed their regulations regarding Short Sales.

The old regulation allowed for back up offers to be submitted within 14 days after the original buyer either couldn’t perform, or walked away from the transaction.  Meaning, if a seller has back up buyers for a short sale transaction, and the buyer in first position walks, the sellers agent could submit a back up offer within 14 days and Bank of America would expedite the re-approval process.  Any offers submitted after 14 days, would in almost all cases, cause the file to be cancelled and force a re-initiation of the file thus taking Bank of America another 30 to 60 days to approve the short sale.

The new regulation reduces the back up offer days from 14 to 8.  This means if an agent has back up offers, or worse yet doesn’t have back up offers, there is only 8 days from the time the buyer walks to upload a back up or new offer via Equator.  After the 8 day period, Bank of America will cancel the short sale and start the approval process from the beginning.

All of this being said, there are strategies in place for agents to continue to market the property while the offer in first place has been submitted for short sale approval.  Better yet, it is highly advised that sellers and their agents place the property in Back Up position in the MLS, and continue to collect back up offers till the buyer officially opens escrow and lifts all contingencies.

Word to the wise, keep marketing the property till all is said and done.  It’s the agents Fiduciary duty to represent the seller and do everything possible to procure an offer or offers.

For more information feel free to contact me direct.

Real Estate News information provided by Troy Sage

Bank of America Short Sale News – Troy Sage Real Estate News is a post from: Temecula Real Estate-Temecula Homes For Sale

Mortgage News by Troy Sage.  What will happen to the mortgage industry now that Metlife leaves the scene?

Some would say it is grim out there, and no, I am not talking about Hostess Brands, the manufacturer of Twinkies, Ho Hos, and Ding Dongs cake snacks, filing for Chapter 11 bankruptcy. Is it right that 4,300 of our brethren were notified of losing their jobs, after a potential sale fell through, in a letter to clients with a dancing Snoopy in the letterhead?

“To Our Valued Customers…We have made the decision to wind‐down all MetLife Home Loans’ (MLHL) forward origination business, including the Institutional Lending Group (ILG)… We will continue to honor all of our loan commitments and will maintain the necessary staff in place to ensure each of your loan transactions closes (subject to the loans meeting all investor and MLHL guidelines). Our sales and support teams will work with each of you to ensure this transition is as transparent to your customers and referral partners as possible. In return, we ask that you keep your commitment by delivering your locked pipeline in accordance with our agreements…”

The top five wholesale lenders for the 3rd quarter, volume-wise, were in order: Provident Funding, U.S. Bank Home Mortgage, Wells Fargo, Flagstar, and MetLife Home Loans. The top twelve correspondent lenders for the 3rd quarter, volume-wise, were in order: Wells Fargo, BofA, Chase, GMAC, Citi, Flagstar, PHH, U.S. Bank, BB&T, Franklin American, SunTrust, and MetLife. And when one adds in retail originations to the other two channels, for the 3rd quarter MetLife clocked in at #10 (per National Mortgage News).

I received this note: “If Fannie and Freddie don’t wake up and expedite their approval process the industry will be gone. Private investors such as Wells are bogged down in operations. Companies aren’t long for this world when they don’t have agency approval – we saw what happened last month to O 2 Funding. Every lender out there is grabbing onto the apron strings of the agencies; the same agencies that many in the government want to shut down! Where will that leave things?”

On top of this, investors in Residential Capital Corp., which does business as GMAC Mortgage, have organized out of concern that the residential lender and loan servicer could be headed toward bankruptcy. Parent Ally Financial had hoped to take ResCap/GMAC public in 2011 but ultimately scrapped those plans; it has since cited “risk factors” with the unit but has not specifically discussed a possible bankruptcy filing. And another top investor, PHH, was downgraded by S&P and raised its doubts over continuing as a “going concern” if it failed to improve its liquidity. PHH is also being investigated by the CFPB regarding its mortgage insurance practices.

One can just hear large lenders talking in their boardrooms. “Do we really want to be in this business, given the regulatory, legal, financial, and public relations issues? Where the value of servicing has dropped dramatically in the market, and could drop further depending on Basel III? Where the mortgage insurance tax deductibility has gone away? Where every week brings a new lawsuit – when will we have more attorneys on staff than originators?”

The shutdown will cost insurer MetLife about $100 million. “We continue to move forward with our plans to cease being a bank holding company,” the CEO said last month. Servicing and reverse mortgage origination will continue, at least at this time. John Calagna, as spokesman for MetLife, noted that most of the 4,300 employees at the unit will lose their jobs, 20% of whom are in Irving, Texas. (Add this to Bank of America’s announced 30,000 job cuts, and Citi’s 4,500, and one really starts to make a dent in financial services.)

Perhaps some will contact Mason-McDuffie Mortgage Corporation, headquartered in Northern California. The company has been around since 1887, is a mortgage banker and broker, and is licensed in 28 states. MMCD is seeking branch managers, LO’s and all operations positions to join its expanding workforce. “MMCD enjoys branch operations throughout the US with fulfillment centers in the Bay Area, the Northeast and adding new centers in Southwest, Midwest and East. Mason McDuffie Mortgage is a privately held mortgage banking company funding jumbo, conventional, government, and rehab loans, and has its Fannie, Freddie, and Ginnie approvals. Contact Brian Moggan at bmoggan@mmcdcorp.com with a resume.

That was one ray of good news. The news is not much better elsewhere. JPMorgan Chase’s mortgage originations in 2011 were the lowest in 10 years. A video of Jamie Dimon discussing his housing forecasts can be seen on CNBC, and mentions that the bank is originating $10 billion in mortgages per month. HousingWire calculates that when the production numbers are put together, JPMorgan Chase is likely originating its least amount of mortgages in the last 10 years.

Lastly, Michael Williams announced his intention to step down as CEO of Fannie Mae after 21 years with the agency. He’s had that post since April 2009, and is viewed as the leader in guiding Fannie Mae through the transition into conservatorship and in “directing Fannie Mae’s efforts to enhance loss mitigation strategies, including loan modification and refinance options to help struggling homeowners.” FHFA will work with the Fannie Mae board of directors in searching for a new CEO.

Folks out and about looking for work might be interested in hiring trends, especially in the mortgage industry in 2012. Here are some presented by Drew Waterhouse, Managing Director of Hammerhouse.

Amid declinations to comment, Goldman Sachs and Citigroup are planning to market about $1 billion of bonds backed by commercial property loans as soon as next week as demand for the debt recovers amid optimism the U.S. economy can withstand Europe’s fiscal crisis. The deal will probably be the first of its kind for 2012.

When I was at Cal grappling with the MBA requirements, taking accounting classes was never a high priority. It should have been, and in the mortgage banking biz, the MBA is here to help you remember if debits are on the left and credits on the right (yes) or whether you can allocate a pair off loss to individual loans (not really). “Taking place on Thursday, January 19, 2PM EST, CampusMBA and Mortgage Banking Solutions will present Mortgage Accounting Part I: Drilling into Mortgage Accounting. The following topics will be covered: Essence of Accounting, Measurement, Risks and Results, The Mortgage Road — How it Works, Mortgage Banking Process Flow — Who Does What, Performance Metrics — KPIs, Internal Controls, History of Accounting, Financial Reporting Complexity vs. Simple & Easy, Accounting Methods & Accounting Systems, GAAP — Rules of the Road, The Audit and your CPA. Check it out. Parts II and III are the following weeks.

This morning we had the weekly MBA application stats. Sometimes folks ask, “What constitutes an application?” The MBA notes that, “We ask our participants to follow the HMDA definition of an app, the key portion of which is a credit pull. As you know, the HMDA definition and the RESPA GFE requirements are not quite aligned.” Maybe someone with time on their hands should align the two! This morning the MBA released last week’s application numbers which showed an increase of 4.5%. Refinancing was up over 3%, and purchases were up over 8% – nice to see – although refinancing still accounts for almost 81% of application activity.

At least the markets continue to be quiet: like Monday, Tuesday we were virtually unchanged with the 10-yr closing at 1.97% although MBS prices were worse by about .125. The focus on Tuesday was on the Treasury auction supply, announced last week so there is no surprise, and continued rumblings out of Europe that will be with us for years. Generally speaking, Reuters reports that, “Supply and demand appear very favorable in aggregate for 2012 with projected demand from the Fed, banks, REITS, and money managers well above estimated net supply. Still, there will likely be times when there will be temporary imbalances with higher supply.”

Today we’ll have the second leg in the latest round of Treasury auctions with $21 billion 10-year notes at 11AM CST. So far rates are slightly better with the 10-yr at 1.94% and agency mortgage prices better by about .125.

Real Estate News by Troy Sage

Information provided by by Rob Chrisman

Troy Sage mortgage and real estat news – Metlife exiting the Mortgage Industry is a post from: Temecula Real Estate-Temecula Homes For Sale

Mortgage Delinquencies Stubbornly High as Earlier Declines Come to an End? Real Estate News by Troy Sage is a post from: Temecula Real Estate-Temecula Homes For Sale