Loan Modification Frequently Asked Questions
A Loan Modification is a permanent change in one or more of the terms of a Borrower’s loan, allows the loan to be reinstated, and results in a payment the Borrower can afford.
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203(k) Rehab Mortgage Insurance
Section 203(k) insurance enables homebuyers and homeowners to finance both the purchase (or refinancing) of a house and the cost of its rehabilitation through a single mortgage or to finance the rehabilitation of their existing home.
Homes For Sale
These pages contain a list of properties that are owned by the Department and are currently for sale. All of the properties listed are repossessions and may include single family residences, condominiums and planned unit developments, farms, land, mobile homes on land, and mobile homes in parks. There are no multiple unit properties, as the Department does not lend on them. In these pages, highlighted words link to other CalVet pages.
About Good Neighbor Next Door
How the Program Works
Eligible Single Family homes located in revitalization areas are listed exclusively for sales through the Good Neighbor Next Door Sales program. Properties are available for purchase through the program for five days.
What Is A Short Sale?
A short sale is a real estate transaction in which the sales price is insufficient to pay the debt(s) and obligations encumbering the property along with the costs of sale, and the seller is unable to pay the difference
Two California Real Estate Investors Agree to Plead Guilty to Bid Rigging at Public Foreclosure Auctions
WASHINGTON—Two California real estate investors have agreed to plead guilty today for their roles in a conspiracy to rig bids and to commit mail fraud at public real estate foreclosure auctions in Northern California, the Department of Justice announced.
Home Affordable Foreclosure Alternatives (HAFA) Program
If you can’t afford your mortgage payment and it’s time for you to transition to more affordable housing, the Home Affordable Foreclosure Alternatives (HAFA) program is designed for you. HAFA provides two options for transitioning out of your mortgage: a short sale or a Deed-in-Lieu (DIL) of foreclosure. In a short sale, the mortgage company lets you sell your house for an amount that falls “short” of the amount you still owe. In a DIL, the mortgage company lets you give the title back, transferring ownership back to them.
Southern Nevada Sees High Rates of Vacancy
While northern Nevada (areas like Reno-Sparks) might be seeing a slight resurgence in home sales, the same cannot be said of the south. Las Vegas and the surrounding areas have actually seen an increase in empty homes. Currently, there are almost 170,000 vacant homes in southern Nevada, almost twice the number of empty homes in 2000 (during the last census).
Real Estate Fraud Charges Cost Florida Law Firm $2 Million
Florida has a long history with expensive real estate. Even property located inland can be quite pricey, much less that found along the state’s massive amount of coastline. All that cost equates to a huge potential for foreclosures with the real estate industry in shambles. Florida actually has one of the highest rates of foreclosure in the nation. However, it seems that at least one law firm handled those foreclosures improperly, and now is being forced to pay $2 million in penalties.
Property Taxes Changing in Philadelphia
The City of Brotherly Love might have just gotten a little less loving. The city recently voted to institute a new property assessment process to calculate property taxes throughout the area. In 2010, the city collected $1 billion in property taxes. The new assessment method will bump that up by $200 million or so. However, don’t expect everyone to be taxed equally.