Kimberly Nguyen

Archive for 2011|Yearly archive page

Bill Aimed at Helping Underwater Homeowners Gains Support ….

In News on July 20, 2011 at 2:36 pm

The Helping Responsible Homeowners Act (S. 170)was introduced in January to help underwater homeowners who are not delinquent to refinance their mortgage with today’s low interest rate. This bill is being supported by Sen. Barbara Boxer and Sen. Johnny Isakson is gaining ground. The purchase of this bill is to help millions of responsible homeowners who are current on their payments to refinance their underwater mortgage with the low interest rate. By doing so will help these homeowners put thousands of dollars back in their pockets and encourage spending to strengthen our economy.”

This bill is widely endorsed by these following organization, the National Association of Mortgage Brokers, the National Consumer Law Center, the California Association of Realtors, the California Association of Mortgage Professionals William Gross, managing director and co-CIO of PIMCO.

The Helping Responsible Homeowners Act (S. 170)currently offer these homeowners come with high, up-front, risk-based fees – up to two percent of the loan amount – making them largely unpopular. Therefore the legislation of S170 would eliminate these upfront fees.

http://www.dsnews.com/articles/index/senate-bill-aimed-at-helping-underwater-homeowners-gains-support-2011-07-15

Great News for Struggling Homeowners…..

In News on July 18, 2011 at 4:49 pm

If you a struggling to pay your mortgage and a short sale is the most viable option for you and your family, well, we have great news….Brought to you by the CALIFORNIA ASSOCIATION OF REALTORS®.

LAW AGAINST SHORT SALE DEFICIENCIES EXPANDED

In a major victory for REALTORS®, Governor Brown signed into law today a C.A.R.-sponsored bill, Senate Bill 458, prohibiting a deficiency after a short sale for one-to-four residential units, regardless of whether the lender is a senior or junior lienholder. Effective immediately for transactions closing escrow from this day forward, both senior and junior lienholders cannot require a borrower to owe or pay for a deficiency in a short sale. This law also prohibits any deficiency judgment to be requested or rendered for senior or junior liens after a short sale of one-to-four residential units. Any purported waiver of this rule shall be void and against public policy.

Although a lender cannot require a borrower to pay any additional compensation in exchange for a short sale approval, the new law does not prohibit a borrower from voluntarily offering a monetary contribution to a lender in hopes of obtaining a short sale. A lender is also permitted under the new law to negotiate for a contribution from someone other than the borrower, such as other lenders, agents, relatives, and the like.

Exceptions to the new law include a lender seeking damages for a borrower’s fraud or waste; a borrower that is a corporation, LLC, limited partnership, or political subdivision of the state; a lien secured by a bond as specified; a public utility lien; and additional rules apply if a note is cross-collateralized by more than one property.

This law is fully set forth as Senate Bill 458 (Corbett) at http://www.leginfo.ca.gov.

Email me your questions or concerns.

5 Tips of Avoid Foreclosure

In News on July 12, 2011 at 2:47 pm

Here are 5 tips to avoid a foreclosure when you are in a financial hardship;
1. Call your lender(s) to discuss about your situation.
2. Contact an approved HUD agency to understand all your options.
3. Understand the market value of your home so that you know which option is better for you.
4. Please avoid any for profit companies as there are many scams out there.
5. Must understand your rights as a borrower.

For more questions or inquiries, please let me know.

Forclosure Timeline

In News on May 12, 2011 at 4:26 pm

This is typical foreclosure time line, but different for each individual.  Let me know if you have questions regarding your situation.

What exactly is Short Sale??

In News on May 10, 2011 at 4:33 am

Well, people believe that a short sale is when it takes a short time to sell.  I am sorry that is not the correct answer.  Watch this video and you will understand the definition of a short sale.

Tax Lien / Tax Deed – FREE seminar in Sacramento

In News on May 6, 2011 at 5:10 am

If you haven’t signed up yet for our Tax Sale Investing seminar coming up on Saturday, May 21st from 9:30am – 4pm in Sacramento, I encourage you to sign up soon . . . like maybe right now!  Half the seats are already gone . . . even though we just kicked-off promotions mid-last week.

I guess a lot of people want to find out more about the lucrative, but little-known world of tax lien and tax deed investing.  And why not?  Especially if you can learn from someone who’s had major success and has been investing in this arena for over 15 years.

Remember, I’ve teamed up with one of the most successful Tax Sale investors in the country.  Someone who’s bought hundreds of properties at Tax Sales and has made a fortune from just this one source!

Here’s just a sample of what “Mr T” will be covering during the seminar:

  • An insider’s perspective on how government Tax Sales really work
  • The two types of government Tax Sales (tax lien certificates and tax deeds) fully explained and turned inside-out, and what you absolutely must know in order to start making immediate profits.
  • Separating fact from fiction … and blowing away the many myths and misconceptions about tax lien and tax deed investing
  • How to buy properties at 10-30 cents on the dollar
  • How to get whopping, double- and even triple-digit (yes, I said triple!) returns on your money – with total safety and little risk!  I know that’s hard to believe right now … but just be willing to suspend your disbelief right now until you get all the facts and see some real-live examples, fair enough?
  • Get access to dozens of “INSIDER” deals
  • The 7 most costly mistakes  most Tax Sale investors make
  • How to be a passive “armchair” investor and still get massive, eye-popping returns on your money — with very little risk!  That’s right … even if you’re just way too busy to take this on right now, we’ll show you how even the most time-starved investors can still create or grow their wealth through Tax Sale investing.
  • A step-by-step action plan on how to get started investing in government Tax Sales
  • A simple but powerful strategy for creating passive and recurring income streams from Tax Deed properties – without the hassles of being a landlord!  Yes, you can simply rent them out and be a landlord too if that’s what you really want … but this simple approach actually eliminates the need to deal with tenants and toilets!
  • Skyrocket your monthly cash flow or net worth by acquiring free & clear properties for ‘pennies on the dollar’ !
  • How to dominate every auction you attend
  • Going into warp-speed: How to use your IRA or 401k to invest in tax lien and tax deed properties … and grow your profits tax-free!
  • How to immediately get started investing in Tax Sale properties – regardless of your budget or situation!  Now if you’re already a millionaire, you’ll discover why Tax Sale investing is a favored strategy of the super-rich.  But even if you’re just starting out and don’t have much money to invest, you’ll learn how to start building your fortune with as little as a thousand dollars or less!
  • Discover where to get timely and valuable free information about upcoming Tax Sale properties so you never miss a golden opportunity!

Sounds incredible, doesn’t it?  Whatever your situation or circumstances are, this is one seminar you can’t afford to miss!

Fees????

In News on May 6, 2011 at 4:47 am

Distress Homeowners are often concern about cost for doing a short sale, see the video to find out…who will pay.