Mortgage Services Settlement–the United States Department of Justice announced a recent settlement with five major banks accused of robo-signing and other fraudulent foreclosure practices.

The $25 billion dollar settlement (with $4 billion pending other smaller banks (9) involved Bank of America, Ally, Chase, Citi and Wells Fargo.

Where the Money will go:

$5 billion consisting of $2000 payments to borrowers who were foreclosed on between January 1, 2008 and December 31, 2011 and who were subjected to the fraudulent practices.

$20 billion will be used towards foreclosure alternatives:

• $10 billion will go to the borrowers who are delinquent on their mortgages.
• $7 billion towards assisting homeowners through short sales, forebearance relocation assistance or other alternatives.
• $3 billion will be spent helping borrowers who own more than the value of their home to refinance.

The time frames/deadlines from March 2012:

• The Banks have 30-60 for the Banks to select an administrator to handle logistics of the settlement and to monitor compliance.
• The next 6 to 9 months the settlement administrator and the Attorney General will identify homeowners eligible for immediate cash payments and notify them by mail.
• It anticipated that the settlement will be completed within 3 years.

Clarification is made on the following:

• Robo-signing practices are forbidden.
• Dual-track Foreclosures (working with the homeowner on modification of the loan while simultaneously pursuing foreclosure) is forbidden.
• Fannie Mae and Freddie Mac insured loans are not impacted by this settlement.
• Special recourse is in place for Servicemembers who were charged over 6% interest rates after a valid request to lower their rates under the Servicemembers Civil Relieft Act (SRCA) or who were wrongly foreclosed on.
• Money will be distributed differently fro different states.
• California will receive the most of any state $12 billion
• Oklahoma was not a party to this settlement creating their own agreement worth $18.6 billion

Here are important links and phone numbers for more information on the Settlement:

• Ally/GMAC 800 766-4622
• Bank of America 877 488-7814
• Citibank 866 272-4749
• JP Morgan Chase 866 372-6901
• Wells Fargo 800 288-3212

Official Sites for the Settlement

http://www.nationalmortgagesettlement.com

To locate the Attorney General in your state

http://www.NAAG.org

To determin if a loan is ineligible due to insurance by Freddie and Fannie

http://www.fanniemae.com/loanlookup

http://www.freddiemac.com/mymortgage

As real estate professional who has achieved the Certified Distressed Property Expert (CDPE) designation,

it is my mission to give homeowners the gift of a fresh start or to find alternatives to foreclosure that allow you to remain in your home.

Contact me TODAY and let’s get started.

I am Jeanean Gendron, your Redding and Shasta County Specialist.

You can reach me at 530 276-7417. I answer my phone I hold the Certified Distressed Property Expert, CDPE and the Certified Investment Agent Specialist, CIAS designation. I have taken special training so that I may help my clients in all their Real Estate Investment needs. Knowing the Alternatives to Foreclosure in this market is critical in helping my clients.

I am here to help.

I am HAFA Certified!

___________

What Is A CDPE? Certified Distressed Property Expert

The Certified Distressed Property Expert Designation (CDPE) is verification that a REALTOR® has taken the initiative to become an educated and prepared advocate on the behalf of a homeowner in distress. Earned by completing a comprehensive curriculum via the Distressed Property Institute, real estate agents with the CDPE designation are equipped with the expertise to help distressed property owners avoid foreclosure.

As a CDPE designated REALTOR®, I am committed to helping people who are facing foreclosure by finding the right solution for their individual needs and seeing the issue resolved. A portion of my CDPE designation course work involved short sales. Previously, short sales were a rarely accepted alternative by lenders, but in today’s world they are increasingly becoming a viable option. Although more common in recent years, lender’s still want the right deal with the right paperwork, and most real estate agents without the CDPE designation do not know the specifics. The CDPE course has taught me how to submit the proper documents to a variety of lenders as well as negotiation skills, allowing for quick resolve to a short sale. The education of a CDPE designated agent is continual, as CDPEs from across the county provide information to the Distressed Property Institute for a continual flow of new information to share with other CDPE designated agents.

I currently have clients that are now ready to get back in the market of home ownership. They have rebuilt their credit and can buy more house that they could before. I am working with several younger clients to take advantage of the low interest rates to buy with FHA loans and to live in the house 5 years and then buy again. The original purchase now becomes an investment property and they are on their way to building generational wealth. Repeated every 5 years and utilizing the tax breaks from 1031 Exchange, we have an infrastructure that helps the investor leverage tax benefits to establish wealth. We should be doing the same thing.

Getting some of the older short sales done appears to be harder. I recently had a short sale that the seller had not made a payment going on over a year. We submitted everything to the bank. The bank countered and we accepted the counter. It then went to the Investor for approval and languished there for 90 days until we lost the Buyer. Why this occurred is not clear. What it the age of the delinquency or something on the Banks side (robo-signing issues). We won’t know.

This is certainly not enough data to establish or to determine a policy change on Bank of America’s part but it would see to be the case. I will continue to watch just how long it takes to get approvals.

If you are in a situation where you have suffered a hardship and are struggling with your mortgage there are several reasons that you should consider the short sale in 2012. CA SB 458 signed by California’s Governor Jerry Brown and passed 2011 prohibits second lien holders from suing the homeowner after the closing of escrow on a short sale for any unpaid balance. It is unknown if this law will be extended. The Federal SB 931 will also expire at the end of 2012. Again, we do not know if these laws will be extended. We will hope so.

The steps that are important for you to know are that you have options. You will want to speak with your lender to see if you can qualify for the new short refinance program being offered. You will want to explore loan modification options with your lender. There may be new opportunities for both these options due to the recent Obama 26 Million Dollar settlement with the Major banks over “robo-signing”. It is really only a drop in the bucket but it is a beginning and it hopefully, will help many people stay in their homes.

I will be sharing information on this “Settlement” and what it will mean to those in hardship. My hope is to see the real estate market return to a stable and attainable goal for all people.

As real estate professional who has achieved the Certified Distressed Property Expert (CDPE) designation,

it is my mission to give homeowners the gift of a fresh start or to find alternatives to foreclosure that allow you to remain in your home.

Contact me TODAY and let’s get started.

I am Jeanean Gendron, your Redding and Shasta County Specialist.

You can reach me at 530 276-7417. I answer my phone I hold the Certified Distressed Property Expert, CDPE and the Certified Investment Agent Specialist, CIAS designation. I have taken special training so that I may help my clients in all their Real Estate Investment needs.

Knowing the Alternatives to Foreclosure in this market is critical in helping my clients.

I am here to help.

I am HAFA Certified!

___________

What Is A CDPE? Certified Distressed Property Expert

The Certified Distressed Property Expert Designation (CDPE) is verification that a REALTOR® has taken the initiative to become an educated and prepared advocate on the behalf of a homeowner in distress. Earned by completing a comprehensive curriculum via the Distressed Property Institute, real estate agents with the CDPE designation are equipped with the expertise to help distressed property owners avoid foreclosure.

As a CDPE designated REALTOR®, I am committed to helping people who are facing foreclosure by finding the right solution for their individual needs and seeing the issue resolved. A portion of my CDPE designation course work involved short sales. Previously, short sales were a rarely accepted alternative by lenders, but in today’s world they are increasingly becoming a viable option. Although more common in recent years, lender’s still want the right deal with the right paperwork, and most real estate agents without the CDPE designation do not know the specifics. The CDPE course has taught me how to submit the proper documents to a variety of lenders as well as negotiation skills, allowing for quick resolve to a short sale. The education of a CDPE designated agent is continual, as CDPEs from across the county provide information to the Distressed Property Institute for a continual flow of new information to share with other CDPE designated agents.

Short sales are a good option for homeowners struggling with unaffordable mortgage payments. In fact, lenders’ losses due to foreclosure are projected to increase at record rates in 2012, giving them more reason to pursue short sales. Lenders are projected to incur losses as severe as 85 percent in foreclosure! Meaning, after deducting the expense of the foreclosure process on a $100,000 loan, they may only get back $15,000!

It’s common sense that lenders will be looking toward the short sale solution. Even though they are accepting less than is owed on the property, they lose far less than in a foreclosure sale. It may be a surprise to many that lenders actually want to work out a solution that benefits all parties. Oftentimes, the lender is seen as the villain in the situation. I’ve found that the lenders want to avoid foreclosure just as much as homeowners. The free, downloadable report on this website talks more about working with your lender, and details all the foreclosure alternatives available to you.

Download the report and call me today; I can help you develop a plan to work with your lender and avoid foreclosure. Loan modification is an option for many and banks are increasingly willing to negotiate short sales. In many cases, they’re offering sizable financial incentives to help financially strapped homeowners to get a fresh start on their lives.

As real estate professional who has achieved the Certified Distressed Property Expert (CDPE) designation,

it is my mission to give homeowners the gift of a fresh start.

Contact me TODAY and let’s get started.

I am Jeanean Gendron, your Redding and Shasta County Specialist.

You can reach me at 530 276-7417. I answer my phone I hold the Certified Distressed Property Expert, CDPE and the Certified Investment Agent Specialist, CIAS designation. I have taken special training so that I may help my clients in all their Real Estate Investment needs.

Knowing the Alternatives to Foreclosure in this market is critical in helping my clients.

I am here to help.

I am HAFA Certified!

___________

What Is A CDPE? Certified Distressed Property Expert

The Certified Distressed Property Expert Designation (CDPE) is verification that a REALTOR® has taken the initiative to become an educated and prepared advocate on the behalf of a homeowner in distress. Earned by completing a comprehensive curriculum via the Distressed Property Institute, real estate agents with the CDPE designation are equipped with the expertise to help distressed property owners avoid foreclosure.

As a CDPE designated REALTOR®, I am committed to helping people who are facing foreclosure by finding the right solution for their individual needs and seeing the issue resolved. A portion of my CDPE designation course work involved short sales. Previously, short sales were a rarely accepted alternative by lenders, but in today’s world they are increasingly becoming a viable option. Although more common in recent years, lender’s still want the right deal with the right paperwork, and most real estate agents without the CDPE designation do not know the specifics. The CDPE course has taught me how to submit the proper documents to a variety of lenders as well as negotiation skills, allowing for quick resolve to a short sale. The education of a CDPE designated agent is continual, as CDPEs from across the county provide information to the Distressed Property Institute for a continual flow of new information to share with other CDPE designated agents.

Recent economic upheaval has taken a hefty toll. Looking forward to 2012, it’s impossible to know what’s next and the kind of an impact that an upturn or a downturn at the national level stands to have on your family’s finances.

Regardless of what happens in Washington or on Wall Street, two things are very clear: you are not alone and now is the time to prepare for a new normal.

With a national epidemic of unemployment or underemployment, and 25 percent of the homeowners in the country owing more on their home than they could net for it in today’s market, home ownership for many has become a financial liability. Not being able to make payments on a home that you can’t afford to sell feels like an awful trap, but the fact is, there are solutions—and foreclosing on your mortgage is not one of them.

Loan modification is an option for many and banks are increasingly willing to negotiate short sales. In many cases, they’re offering sizable financial incentives to help financially strapped homeowners to get a fresh start on their lives.

As real estate professional who has achieved the Certified Distressed Property Expert (CDPE) designation, it is my mission to give homeowners the gift of a fresh start.

Contact me TODAY and let’s get started.

I am Jeanean Gendron, your Redding and Shasta County Specialist. You can reach me at 530 276-7417. I answer my phone I hold the Certified Distressed Property Expert, CDPE and the Certified Investment Agent Specialist, CIAS designation. I have taken special training so that I may help my clients in all their Real Estate Investment needs. Knowing the Alternatives to Foreclosure in this market is critical in helping my clients.

I am here to help.

I am HAFA Certified!

What Is A CDPE? Certified Distressed Property Expert

The Certified Distressed Property Expert Designation (CDPE) is verification that a REALTOR® has taken the initiative to become an educated and prepared advocate on the behalf of a homeowner in distress. Earned by completing a comprehensive curriculum via the Distressed Property Institute, real estate agents with the CDPE designation are equipped with the expertise to help distressed property owners avoid foreclosure.

As a CDPE designated REALTOR®, I am committed to helping people who are facing foreclosure by finding the right solution for their individual needs and seeing the issue resolved. A portion of my CDPE designation course work involved short sales. Previously, short sales were a rarely accepted alternative by lenders, but in today’s world they are increasingly becoming a viable option. Although more common in recent years, lender’s still want the right deal with the right paperwork, and most real estate agents without the CDPE designation do not know the specifics. The CDPE course has taught me how to submit the proper documents to a variety of lenders as well as negotiation skills, allowing for quick resolve to a short sale. The education of a CDPE designated agent is continual, as CDPEs from across the county provide information to the Distressed Property Institute for a continual flow of new information to share with other CDPE designated agents.

Redding CA – HUD Homes for Sale – Buyer Opportunity in Shasta Lake CA!

A Local Listing Broker for

Pemco LTD Asset Management

Real Living Real Estate Professionals

3811 Olive, Shasta Lake CA – 3 Bedroom, 2 Bath with 2 Car Garage!

Wooded and Filtered View lot offers privacy.

Good floor plan and nice Eastern exposure.

Large Open Living Area.

Sweet bedroom with Wall Art.

French doors to the Western exposure.

California HUD Homes for Sale – Shasta Lake CA – Buyer Opportunity–Wonderful opportunity for First Time Home Buyers or Investors. This 3 Bedrom, 2 bath home with a 2 Car Garage offers a wonderful Buyer opportunity. Call today to learn how you can Buy a HUD Home.

Case Number: 043-748380

3811 Olive Street, Shasta Lake, CA 96019

Listed for $87,000

3 Bedroom

2 Bath, 1156 sq. ft. 2 Car Garage

FHA Financing Available

203K Eligible

Electronic Bid Only: www.HudHomestore.com

A Local Listing Broker for HUD-PEMCO, Asset Management

www.HUDPemco.com

Contact Jeanean Gendron for Help in Purchasing This Home!

www.JeaneanGendron.com

DRE#01299346

866 441-0078

Sitting on a country lane with a Southern Exposure, this home is in a quiet neighborhood.

Extra large living room is the center of the home.

The Large Living area is great for all lifestyles.

Kitchen

Dining Room has its own built in hutch.

Huge back yard.

Back Yard has room to grow.

Redding  CA – HUD Homes for Sale – Country Home in Red Bluff CA–Sold “AS IS.” Manufactured home on large lot. Country lane. In the Country, close into Town. Good floor plan. Three bedrooms, 2 bath with over sized 2 car detached garage. Room for workshop in Garage. Sold “AS IS”.

Case# 043-726245

MLS #11-2698

Listed at $75,000

Listed by Jeanean Gendron, Local Listing Agent for Pemco, LTD Asset Manager

Sold “AS IS” by Electronic Bid Only

Call Jeanean Gendron to View This Property or to learn more about HUD Homes

866 441-0078

This is a HUD Property.

Visit the HUD website to learn more about HUD Resources.

View all HUD Listings.

California Department of Housing and Community Development

Brought to you by HUD-PEMCO.

Visit the HUD-PEMCO website for more information and resources.

Real Living Real Estate Professionals and Jeanean Gendron

866 441-0078

Local Listing Broker for HUD-PEMCO for Shasta County, California

We are hear to help you in all your real estate needs!

We will be having a HUD Buyer’s Seminar every other month on the fourth Saturday of the month. The time will be from 10:00 to 12:00. We look forward to seeing you there.

Redding Real Estate – Buyer Seminar on How to Buy HUD Homes–RSVP Today and Learn about Buying HUD Homes. We look forward to seeing you there. We are dedicated to bringing you the best opportunities in this market. Join us at the Real Living Real Estate Professionals Downtown office on July 23, 2011 from 10:00 to 12:00. The coffee is on us.

Case #043-748380

FHA Financing Available – 203K Eligible

By Electronic Bid Only

Case #043-726245

FHA 203K Eligible

By Electronic BID only.

Real Living Real Estate Professionals

1647 Court Street

Redding CA 96001

I am Jeanean Gendron and I answer my phone.

530 276-7417

Crown Meadows Community offering upsale Ochoa & Shehan homes.

Tile for style and durability both for counter tops and flooring. Alder cabinets add warmth and custom light a glow that is a comfort.

An Open floor plan offers all lifestyles grace and comfort.

Two tone paint and wall to wall carpeting intregrate living and recreation.

Redding CA – Short Sales – Ochoa & Shehan Home in Crown Estates–The master bedroom offers a master suite perfect for relaxing with a jetted tub to end the day on just the right note. This lovely Ochoa & Shehan home is a short sale opportunity. Call today for a private showing.

Offered at $229,000

7136 Daybreak Court

MLS #11-3036

I am Jeanean Gendron, your Redding and Shasta County Specialist. You can reach me at 530 276-7417. I answer my phone.

I am HAFA Certified!

Jeanean’s Listings

All Active SHORT SALE Listings

All Active FORECLOSURE Listings

Redding and Shasta County Real Estate Resource

How Much Is My Home Worth ~ Search all Homes in Shasta County ~ Dream Home Finder

Search for Schools in Redding and Shasta County

Visit my main real estate website that provides you with the ability to Search the MLS and to set up an account so that you can save searches and select favorite properties. I also have many saved searches for you to take advantage of. There are saved City Searches and Community Searches. We also save Foreclosure Listings and Short Sale Listings.

Visit and learn more about The Shasta Lifestyle and the experience of living here in Shasta County.

Here are my blog sites:

The Gendron REO Connection

Short Sale Help for Sellers

Redding Real Estate Ramblings

Redding Properties and Land

Shasta Listings

Western Properties and Land

Northern California Properties

California Properties and Land

New Homes Shasta County

ReddingRealEstateLuxuryHomes.com

Redding Elegant Homes

The Redding Golf Lifestyle

Owning Your First Home

Custom home with many upgraded construction elements.

Formal Dining Room.

Entry way to Living Room and Office.

Kitchen View with “Eat in Kitchen” area and Breakfast Bar.

Master Bedroom Suite.

Master Bath Room with walk in shower.

\

Walk-In Shower.

Office or Den.

Seasonal stream on the back of the property.

Redding CA Short Sale – 13440 Luna Drive – Indian Hills Country Estate–Living the lifestyle you love here in Shasta County, California. We live in a truly beautiful area and our prices are affordable. Call to day for a private showing.

Priced attractively at $299,000

Call Jeanean today for a Private Showing!

530 276-7417

This is Your Dream – Don’t Lose it!

Specializing in Unique Properties in Shasta County!

I am Jeanean Gendron, your Redding and Shasta County Specialist. You can reach me at 530 276-7417. I answer my phone.

~

Jeanean’s Listings

Redding Luxury Homes

All Active SHORT SALE Listings

All Active FORECLOSURE Listings

Redding and Shasta County Real Estate Resource

How Much Is My Home Worth ~ Search all Homes in Shasta County ~ Dream Home Finder

Search for Schools in Redding and Shasta County

Visit my main real estate website that provides you with the ability to Search the MLS and to set up an account so that you can save searches and select favorite properties. I also have many saved searches for you to take advantage of. There are saved City Searches and Community Searches. We also save Foreclosure Listings and Short Sale Listings.

Visit and learn more about The Shasta Lifestyle and the experience of living here in Shasta County.

Here are my blog sites:

Redding Real Estate Luxury Homes

Redding Elegant Homes

The Redding Golf Lifestyle

Redding Real Estate Ramblings

Redding Properties and Land

Shasta Listings

Western Properties and Land

Northern California Properties

California Properties and Land

New Homes Shasta County

Owning Your First Home

Home sits up high for good views of the Northeastern Mountain Range.

Living Area with Open Floor Plan.

Eastern exposure for the kitchen with pantry and wrap-around work area. Perfect for the gourmet!

Lots of cabinet space and work room. Central to the home.

Master bedroom with Bamboo flooring.

Master bath with garden spa.

Redding CA  Short Sale – 1015 Tulare Court – Hidden Hills Custom Home with Views–Lovely home in Hidden Hills with views and Open Floor Plan. Perfect for all lifestyles. Call for a private showing.

Priced attractively at $239,000

Call Jeanean today for a Private Showing!

530 276-7417

This is Your Dream – Don’t Lose it!

Specializing in Unique Properties in Shasta County!

I am Jeanean Gendron, your Redding and Shasta County Specialist. You can reach me at 530 276-7417. I answer my phone.

~

Jeanean’s Listings

Redding Luxury Homes

All Active SHORT SALE Listings

All Active FORECLOSURE Listings

Redding and Shasta County Real Estate Resource

How Much Is My Home Worth ~ Search all Homes in Shasta County ~ Dream Home Finder

Search for Schools in Redding and Shasta County

Visit my main real estate website that provides you with the ability to Search the MLS and to set up an account so that you can save searches and select favorite properties. I also have many saved searches for you to take advantage of. There are saved City Searches and Community Searches. We also save Foreclosure Listings and Short Sale Listings.

Visit and learn more about The Shasta Lifestyle and the experience of living here in Shasta County.

Here are my blog sites:

Redding Real Estate Luxury Homes

Redding Elegant Homes

The Redding Golf Lifestyle

Redding Real Estate Ramblings

Redding Properties and Land

Shasta Listings

Western Properties and Land

Northern California Properties

California Properties and Land

New Homes Shasta County

Owning Your First Home