Temecula’s Balloon & Wine Festival Is Coming Soon!

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balloon&wine2012The Temecula Valley Balloon and Wine Festival, then known as the Rancho California Balloon and Wine Festival, was started in 1983 by Walt Darren, a commercial airline pilot and avid balloonist and by Evelyn Harker a veteran event organizer and fund raiser (I had the privilege to meet Evelyn’s husband Bill – a Temecula legend himself). Evelyn immediately suggested it might “fly” even better if it involved some of the area’s other natural attractions such as wine tasting, culinary presentations and entertainment. Read the rest of this entry »

Speed Up Short Sales, FHFA Directs Servicers

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Freddie Mac Lookup

The Federal Housing Finance Agency announced a new policy to speed up the process that mortgage servicers use to handle short sales, deeds-in-lieu, and deeds-for-lease for mortgages that are backed by Fannie Mae and Freddie Mac.

The FHFA, the regulator of Fannie and Freddie, says the new policy includes a revised timeline that will require mortgage servicers to respond to a request for a short sale offer within 30 days. Servicers also will be required to make a final decision on the short sale offer within 60 days.For any short sale offer still under review after 30 days, banks will be required to provide weekly status updates to borrowers regarding the pending short sale offer.The new policy, which will roll out in stages starting in June, aims to “prevent foreclosures, keep homes occupied, and help maintain stable communities,” says Edward DeMarco, the FHFA’s acting director. “These timeline and borrower communication announcements set minimum standards and provide clear expectations regarding these important foreclosure alternatives.”

The FHFA also says that by the end of the year there will be additional announcements from Fannie and Freddie that are aimed at addressing borrower eligibility and evaluation, simplifying documents, property valuation, fraud mitigation, payments to subordinate lien holders, and mortgage insurance.

Source: Federal Housing Finance Agency

via Speed Up Short Sales, FHFA Directs Servicers | Realtor Magazine.

4 Ways to ID Borrower-Assistance Scammers

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One more good reason  you should tell anyone you know to contact a Realtor immediately if they are facing foreclosure or are wondering if they can get some mortgage relief. Call me at 951-506-1956 and I will be happy to review their options with them.

thief_animatedScammers have targeted delinquent borrowers during the past few years, hoping to take advantage of their desperation and financial inexperience. Their approach typically involves posing as a representative of a nonprofit or government agency who can help with a loan modification or some other form of assistance. Read the rest of this entry »

Make it easy with The MuRRman!

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You spoke! We listened!

We know! We get it! Thanks!

www.thereynoldsrealtygroup.com and
whoever@thereynoldsrealtygroup.com
are so long we even make mistakes typing them.
Well, most folks know – Murray is “The Murrman”! So…

Now you can get to our webpage easier at www.themuRRman.com or
email us at: whoever@themuRRman.com
(You don’t have to capitalize the 2 R’s, just remember it’s 2 R’s not 1 R.)

Thanks!

The MuRRman
murray@themurrman.com

Keep Safe from Mortgage Relief Scams

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This is just another good reason  you should tell anyone you know to contact a Realtor immediately if they are facing foreclosure or are wondering if they can get some mortgage relief. Call me at 951-506-1956 and I will be happy to review their options with them.

 

thief_animatedThe Federal Trade Commission is warning home owners to beware of a growing number of mortgage relief scams that are preying on struggling home owners with fake promises of saving them from foreclosure, modifying their mortgage, or restoring their poor credit.

Many of the most recent scams being reported claim to be from law firms. A new report showed that scammers posing as lawyers has caused a 60 percent spike in mortgage scam complaints, finds the Homeownership Preservation Foundation, a nonprofit group that helps distressed home owners.

Many of the scams are targeted at fake promises to help home owners qualify for some of the new federal relief home owner programs, like HARP or HAMP. Home owners should always check credentials first, an article in The New York Times advises. Home owners can find a list of licensed lawyers through the state’s bar associations find your start bar association at the National Organization of Bar Counsel Web site.The New York Times article also says home owners can prevent becoming victims of such scams by being wary of any programs that require a big upfront fee.

Several programs to help struggling home owners are available for free from nonprofit groups certified by the Department of Housing and Urban Development.And, the article notes, watch out for programs that “guarantee” relief.“Legitimate lawyers don’t make guarantees, just like doctors don’t,” Colleen Hernandez, the chief executive of the Homeownership Preservation Foundation, told The New York Times.

Source: “Avoiding Mortgage Relief Scams,” The New York Times April 19, 2012
via Keep Your Clients Safe from Mortgage Relief Scams | Realtor Magazine.

Freddie directs servicers to use Hardest Hit Fund in short sales

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Freddie Mac LookupFreddie Mac wants mortgage servicers to use funds from an underutilized federal program to help homeowners through short sales and other foreclosure alternatives.

The mortgage giant, in a letter to its servicers Monday, said they now must participate in Hardest Hit Fund transition assistance programs from 18 states and the District of Columbia.

The directive, issued Monday, is effective immediately.

The requirement applies to borrowers for short sales, deed-in-lieu deals or relocation assistance, but only if they don’t interfere with Freddie rules.

The letter to mortgage servicers comes as Freddie and Fannie Mae put a heavier emphasis on short sales. The two government-sponsored enterprises issued guidance a week earlier to speed up responses to these deals.

It also comes less than two weeks after a report, from the Special Inspector General for the Troubled Asset Relief Program, said just 3% of HHF’s $7.6 billion fund had been used as of Dec. 31. The Treasury Department meant for the program to provide modifications, short sales, unemployment assistance and principal reduction.

Freddie also told servicers it would release a new interest rate for standard modifications on June 1 to be used starting July 1. A senior official said last week that Freddie will lower the rate to 4.625% from 5%.

Adjustments in the interest rate will be published on Freddie’s website.

via Freddie directs servicers to use Hardest Hit Fund in short sales | HousingWire.

Bill Eichberger – A Temecula Legend

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Bill EichbergerWe are missing our friend, personal stand-up-comedian, and tractor mower extraordinaire Bill Eichberger.

Bill passed away February 21, 2012. Happy trails to you Bill – you were one of the really good guys!

Click here to read Bill’s obituary.

 

 A Video Tribute To Bill

 

 

Fannie Mae Survey Says Folks Think
Housing & Rental Prices To Increase

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fannie mae logoWe report on Fannie Mae’s Quarterly National Housing Survey every ninety days. Fannie Mae also does a monthly survey covering different aspects of the housing market.  Here are some record numbers we found interesting in Fannie Mae’s March report..

    • Thirty-three percent of respondents expect home prices to increase over the next 12 months, the highest level over the past 12 months.
    • The percentage of respondents who say it is a good time to buy rose to 73 percent, the highest level in over a year.
    • Forty-eight percent of respondents think that home rental prices will go up, the highest number recorded to date.
    • On average, respondents expect home rental prices to increase by 4.1 percent over the next 12 months, the highest number recorded to date.
    • Doug Duncan, chief economist of Fannie Mae, capped the report off by stating:  “Conditions are coming together to encourage people to want to buy homes. Americans’ rental price expectations for the next year continue to rise, reaching their record high level for our survey this month. With an increasing share of consumers expecting higher mortgage rates and home prices over the next 12 months, some may feel that renting is becoming more costly and that homeownership is a more compelling housing choice.”

Ramona Returns

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Ramona 2012 PosterRamona is  American’s Longest Running Outdoor Drama and the Official California State Outdoor Play

In his article “More Than Just A Love Story“, Phil Brigandi, Ramona Pageant Historian explains, “Woven into the romance of Ramona and Alessandro is a glimpse of the tragic history of Southern California’s native people. It is a love story with a moral, a message that is as important today as it was when the story of Ramona was written more than a century ago.”

“Ramona” began as a novel, published in 1884 by Helen Hunt Jackson, one of America’s most popular women writers of her day. Though never one to get involved in social causes, in the year 1879 Jackson had suddenly emerged as one of America’s leading advocates of Indian rights. She called for changes in the government’s Indian policies and documented their past crimes in her 1881 book, “A Century of Dishonor”.

The Ramona Bowl Museum has been operated since 1953 by the Ramona Pageant Association, which has produced the annual Ramona Pageant since 1923. The Museum gives the history of the local Tribes, the Pageant and the story of Ramona

2012 Ramona Dates

April 21 – 22, 28 – 29 & May 5, 2012
Gates open at 1p.m.
Performances begin at 3:30p.m. and end at 6:00p.m.
For tickets and information click here

via Official Website of the Ramona Bowl Amphitheatre ~ Home of “Ramona” ~ American’s Longest Running Outdoor Drama and the Official California State Outdoor Play.

Our New Facebook Timeline Page

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Check out our new FaceBook Timeline page at:
facebook.com/TheReynoldsRealtyGroup.

Once there, click on the “Real Estate Info” tab and …

real_estate_info_screenshot1

 

You’ll find links to all of our real estate info, news, search pages and local information!

New Facebook landing page2

Try it!
facebook.com/TheReynoldsRealtyGroup.