August 23, 2009
New Law Could Keep Borrowers Waiting Longer

CHANGES to the Truth in Lending Act that took effect last month, requiring lenders to provide certain disclosures about mortgage fees, will undoubtedly help many borrowers make better-informed loan choices. But some in the industry think the new standards could create further delays in an already slow lending process.

The regulations mandate a three-day review period for the loan documents before the loan process can begin in earnest. And if the interest rate changes even marginally before the settlement date, a new set of disclosure documents must be given to borrowers, restarting the review process.

Don Romano, the past president of the New York Association of Mortgage Brokers, said the new regulation would “add a level of consumer protection” to the mortgage process. But, he said, “it takes a lot of flexibility away from the borrower, in getting to the closing table at the best time.”

The disclosure forms have undergone intense scrutiny since the foreclosure crisis revealed that many borrowers had little idea how much their mortgage could cost them in a given month. To address that issue, Congress last year enacted the new laws requiring more time for borrowers to read and absorb the terms of their loan documents.

In the past, lenders could essentially begin the loan-underwriting process on the day they took an application, by charging borrowers fees to pay property appraisers, among other things. Now they must wait three days.

In a different year, perhaps, an additional three-day delay might not register on the radar of borrowers. But in the last year, the loan approval process has slowed considerably.

Lenders say settling the typical mortgage on a new purchase takes about 45 days — at least two weeks longer than last year, before underwriting rules were severely tightened.

Delays, meanwhile, can be costly.

Borrowers can lock in interest rates for as long as 60 days, and if they run into trouble, they may extend the “rate lock,” as it is known, for up to three weeks (down from four weeks a year ago). The cost of each further one-week rate-lock extension, however, is one-quarter of a percentage point of the loan size.

Another mandatory three-day waiting period can be wedged into the latter part of the mortgage process if the annual percentage rate on the loan changes by at least an eighth of a percentage point.

Lenders say they have little sense of how frequently this late-stage delay might happen, because they have never had to track such incremental shifts in rates.

But one senior loan officer, who spoke on condition of anonymity because he was not authorized by his company to speak publicly about this issue, said that to be safe from last-minute delays that might jeopardize the settlement date, he now establishes an artificial deadline of sorts a week before the actual closing, to review the final interest rate.

R20;Now it’s ‘hurry up and wait,’ ” he said.

BORROWERS can see their interest rates change from the initially quoted rate for many reasons. If their credit score was lower than they first thought, or if they are required to pay mortgage insurance on the loan because their down payment money ran low, for instance, the rate can easily rise by more than one-eighth of a point.

If a borrower’s settlement date is suddenly in jeopardy, he or she can apply for an emergency waiver of the three-day waiting period, but it is unlikely to be granted, said Paul Anastos, the president of Mortgage Master Inc., a lender based in Walpole, Mass., which makes loans in 20 states, including New York, New Jersey and Connecticut.

R20;In this regulatory environment,” Mr. Anastos said, “everybody’s a little skittish when it comes to breaking away from the law.”

August 10, 2009
Foreclosure vs. Short Sale? Why a Short Sale is better!

Effects of Foreclosure compared to a Short Sale

Issue	Foreclosure	Successful Short Sale
Future Fannie Mae Loan - Primary Residence (effective May 21, 2008)	A homeowner who loses a home to Foreclosure is ineligible for a Fannie Mae backed mortgage for a period of 5 years.	A homeowner who successfully negotiates and closes a short sale will be eligible for a Fannie Mae backed mortgage only after 2 years.
Future Fannie Mae Loan - Non Primary (effective May 21, 2008)	An Investor who allows a property to go to Foreclosure is ineligible for a Fannie Mae backed investment mortgage for a period of 7 years.	An investor who successfully negotiates and closes a short sale will be eligible for a Fannie Mae backed investment mortgage after only 2 years.
Future Loan with any Mortgage Company	On any future 1003 application, a prospective borrower will have to answer YES to question C in Section VIII of the standard 1003 that asks “Have you had property foreclosed upon or given title or deed in lieu thereof in the last 7 years?” This will affect future rates.	There are no similar declarations or question regarding a short sale.
Credit Score	Score may be lowered anywhere from 250 to over 300 points. Typically will affect score for over 3 years.	Only late payments on mortgage will show and after sale mortgage will be reported as paid or negotiated. This will lower the score as little as 50 points if all other payments are being made. A short sale’s effect can be a brief as 12 to 18 months.
Credit History	Foreclosure will remain as a public record on a person’s credit history for 10 years or more.	A Short sale is not reported on a credit history. There is no specific reporting item for “short sale” The loan is typically reported “paid in full, settled”.
Security Clearances	Foreclosure is the most challenging issue against a security clearance outside of a conviction of a serious misdemeanor or felony. If a client has a foreclosure and is a police officer, in the military, in the CIA, Security, or any other position that requires a security clearance, in almost all cases clearance will be revoked and position will be terminated.	A Short Sale on its own does not challenge most security clearances.
Current Employment	Employers have the right and are actively and regularly checking the credit of all employees who are in sensitive positions. A foreclosure in many cases is ground for immediate reassignment or termination.	A short sale is not reported on a credit report and is therefore not a challenge to employment.
Future Employment	Many employers are requiring credit checks on all job applicants. A foreclosure is one of the most detrimental credit items an applicant can have and in most cases will challenge employment.	A short sale is not reported on a credit report and is therefore not a challenge to employment.
Deficiency Judgment	In 100% of foreclosures (except in those states where there is no deficiency) the bank has the right to pursue a deficiency judgment.	In some successful short sales it is possible to convince the lender to give up the right to pursuit a deficiency judgment against the homeowner.
Deficiency Judgment (amount)	In a foreclosure the home will have to go through an REO process if it does not sell at auction. In most cases this will result in a lower sales price and longer time to sale in a declining market. This will result in a higher possible deficiency judgment.	In a properly managed short sale the home is sold at a price that should be close to market value and in almost all cases will be better than an REO sale resulting in a lower deficiency.

Basic source material provided by John Perkins, Broker Associate www.HomeSpecial.com RE/MAX

August 4, 2009

Regulation Z is important info for Buyers and Sellers

The Mortgage Disclosure Improvement Act (MDIA) amendments to the Truth in Lending Act (TIL) — also known as Regulation Z — are designed to allow homebuyers adequate time to review specific information related to their loan. Important changes that affect the transaction for Buyers and Sellers include:

· Initial TIL disclosure. A seven-business-day waiting period is now required between the delivery of initial disclosures and the signing of closing documents. This will eliminate the possibility of closing in less than seven business days unless the borrower faces a bona fide personal financial emergency.

· Up-front fee collection. Up-front fees cannot be charged until after the borrower receives the initial disclosures. If disclosures are mailed, the fee is charged the 4th business day after mailing. If disclosures are hand-delivered, the fee is charged the same day.

· Redisclosed TIL. If the interest rate or fees change, causing the APR to increase by more than 0.125% then a revised TIL must be sent to the borrower so that the customer receives it no fewer than three business days prior to closing. Each time the TIL is redisclosed, the waiting period starts over and could affect the original closing date. If the rate is in float status, a redisclosed TIL will not be provided each time there is an APR increase. Redisclosure should be sent, if needed, eight business days before the estimated closing date.

Here are some additional notes from a lender to one of my Buyers regarding this new regulation:

Industry-wide changes to the current loan disclosure laws are happening! Please take a moment to familiarize yourself with how this will impact the timing of your home purchase. You should be aware that:

Lenders cannot collect up front appraisal fees without the borrower first signing and returning their truth-in-lending documents. This means there will probably be delays in ordering the appraisal on purchase transactions (as the appraisal must be prepaid). Please allow a minimum 17 day appraisal and loan contingency in your contracts and please be aware that this may not be long enough, depending how fast a buyer returns their signed disclosure documents to their lender.
Lenders must obtain almost exact fee estimates from the title/escrow company up front (day one) in order to accurately disclose on the truth-in-lending documents to the borrower. This includes transaction coordinator fees being charged to the borrower, as well as any seller credits for closing costs. Any changes to these fees later in the escrow will require that we re-disclose to the borrower. This re-disclosure must be signed and returned to the lender 3 business days prior to signing loan docs. This means that last minute closing cost credits will potentially delay COE.
Any changes to loan amount, loan program, deciding to pay points or not, etc will have the same 3 day re-disclosure requirement. Anything affecting the APR requires re-disclosure.

As a Real Estate agent it is important for my Buyer and I to let the lender know on day one if there are any seller credits or transaction coordinator fees. REO transactions are likely to be the most affected by these new laws because of the response time on these deals from lenders/banks.

July 27, 2009
Are you in financial distress and want to save your home from foreclosure? One of the fastest growing trends is Loan Modification. There are many Loan Modification companies that are helping to lower home interest rates to 3-5% but be careful who you talk to. There are only about 30 legal California companies that are currently licensed to do this work. Lawyers are also allowed to do Loan Modifications.

Why use a "Loan Modification Specialist" to help when you can do it yourself by calling the bank direct? Loan Modification Specialists are exactly that, specialists. As Loan Brokers, they have set up inside negotiators that work with banks directly to get your message through and help reduce your financial hardship. If you are not already familiar with the difficulty of working with banks on Loan Modification look up the latest news reports on this topic and you will find a lot of frustrated home owners that spend hours on the phone only to find they get no results. For one thing, many of the banks state that they are only working with Fannie Mae loans but not "Portfolio Loans". This is where the Loan Modification Specialist comes in best as they cut through a lot of the "Red Tape" to overcome the obstacles. Are the successful? Yes, in fact some loans have been reduced to as low as 2% in a few cases.

How does it work? With Loan Modification Specialists you first fill out a form that allows the Broker to see if you qualify for a loan modification. If you do, then you negotiate the upfront fee you pay to have the company work for you to lower your rate.

Why pay up front? Because this is not a refinance. It is a Loan Modification. Generally fees range from $2500 at low up to approximately $6500 depending on the amount of the loan and the restructuring. If you could lower your interest rate from 7% down to 3.5% would it be worth a fee? Absolutely!

If you are or feel you may be heading into a financial hardship within the next 6 months you may want to start discussions now on this process. It could save you from loosing your home. Feel free to call me direct for information on the process as I am a Loan Modification Specialist for American Financial Modifications.

John Perkins

July 24, 2009
On the fence: When is it time to buy? Now! Many others are already doing it seeing the favorable conditions.

It’s a buyer’s market. Price declines over the past year have made this the best time to buy.
The inventory of homes for sale gives buyers incredible selection. The number of homes for sale is greater than it has been in 15 years.*
Real estate continues to be a great financial investment. The average return on a five percent down payment over 10 years is usually three to five times greater than stock market returns.*
The current favorable market conditions won’t last long. The latest financial reports show that prices are beginning to stabilize and price declines are over.*
Mortgage rates are near all-time lows. Capturing these low rates now means your monthly payments are lower and much more affordable.*

*Information courtesy of the National Association of REALTORS®.

Buyers are not only just looking but purchasing homes all over the Bay Area. Why? Because it is still the place that everyone wants to live and work. If you have a stable job and a little savings for a home the next 6 months will likely going to be your best opportunity to find a home for fair cost and which will reap you the rewards of the tax breaks and the great feeling of home ownership.

July 22, 2009

     Depreciation: One of Real Estate's Most Powerful Weapons
Investors should be aware of the tax benefits of owning investment property. Here is one key how smart investors make money by working the tax system to their advantage. Of all the benefits of owning investment real estate, one of the least understood is the benefit of depreciation.

Depreciation is a method for matching the costs of acquiring property over the property's estimated economic life.

The IRS requires that most property be depreciated via the ‘straightline’ depreciation method. Using the straightline method, residential income properties are depreciated over 27.5 years. Commercial property is depreciated over 39 years.

Depreciation Calculations
It is important to note that land is not depreciable. In order to properly calculate depreciation, the value of land must be excluded. For example, a $1MM duplex with land worth $300,000 has $700,000 worth of depreciable real estate.

Using the straightline depreciation method, the annual depreciation amount is approximately $25,500 ($700,000/27.5)

NOTE: The IRS will typically not challenge the assessment of the land value if it reasonable. A tax advisor, attorney or real estate agent should be able to provide guidance for what is reasonable based on the location and type of land.

Depreciation Benefits
Deprecation is an ‘intangible expense’ that will reduce the reportable taxable income from the property. This is good, because the end result is more money in your pocket and less tax to the IRS. Here’s how it works:

Assume that the yearly rental income from the example duplex is $36,000. At the end of the year, this will have to be reported to the IRS. However, the IRS does not tax the entire $36,000. The taxable income from the property is calculated as follows:

Rental Income
(Expenses)
(Deprecation)
Taxable Rental Income

If the expenses of operating and managing the duplex are $5,000 for the year, the taxable rental income is calculated as follows:

Rental Income                    $36,000
(Expenses)                        ($5,000)
(Deprecation)                    ($25,500)
Taxable Rental Income         $5,500

NOTE: Please always seek the guidance of a tax advisor. It may be beneficial for some property owners to depreciate certain items on the property (fences, fixtures, etc) at different depreciation schedules, which is allowed via cost segmentation.

Depreciation Tax
Upon the sale of an investment property, the IRS requires the payment of a depreciation recapture tax. The tax rate is currently set at 25%. In the example above, if the duplex was owned for 10 years, the entire depreciation taken on the property would amount to $255,000 ($25,500 x 10). The IRS requires a recapture tax on that entire amount. Hence, the sale of the duplex will result in a $63,750 deprecation recapture tax (255,000 x 25%). This is in addition to state and federal capital gains taxes.

The deprecation recapture tax as well as any associated capital gains taxes can be deferred in full via a 1031 Exchange.

Conclusion
Of all the benefits of owning real estate, depreciation may be one of the most important. The tax advantage depreciation offers is powerful. The IRS will always assume that depreciation is taken and will hold an investor liable for the deprecation recapture tax – even if the investor failed to take advantage of the depreciation. Bottom line: make sure you are taking advantage of this powerful tool.

The subject matter in this blog is intended as general information only and not intended as tax or legal advice. Please always consult your tax or legal advisor for any specific tax or legal matters.

July 6, 2009

When Can I Buy A Home Again After Foreclosure or Short Sale?

I found this very interesting article on CAR so I am sharing it with you.

The answer to this question has been very vague until now. Finally here are some answers to questions so many Californians are asking.
This article helps to clarify what the differences are and where your credit stands after you have experienced one of these situations. This information comes directly from the California Association of Realtors legal department. One of the concerns a consumer has after experiencing a bankruptcy, foreclosure, or short sale (referred to as a “preforeclosure sale” by Fannie Mae) is the ability to obtain credit to purchase another home. Fannie Mae has updated its credit guidelines. This legal article summarizes those guidelines.

Q 1. How long is the time period after a foreclosure before a consumer can be eligible to obtain credit to purchase a home?

A Five years from the date the foreclosure sale was completed.
Additional requirements that apply after 5 years and up to 7 years following the completion date are as follows:
. The purchase of a principal residence is permitted with a minimum 10 percent down payment and minimum representative credit score of 680.
. Purchase of a second home or investment property is not permitted.
. Limited cash-out refinances are permitted for all occupancy types pursuant to the eligibility requirements in effect at that time.
. Cash-out refinances are not permitted for any occupancy type.
(Source: FNMA Announcement 08-16, 6-25-08 )

Q 2. Why do the additional requirements for foreclosures in Question 1 only apply from 5 to 7 years following the foreclosure completion date?

A According to Fannie Mae policy in Part X, Section 103 of the Selling Guide, Fannie Mae requires only a 7-year history to be reviewed for all credit and public record information. The 7-year timeframe also aligns with the information provided by the borrower on the loan application relative to disclosure of a past foreclosure action. (Source: FNMA Selling Guide, 4-1-09. )

Q 3. Does a shorter time period apply if the borrower has “extenuating circumstances” that led to the foreclosure?

A Yes. Three years from the date the foreclosure sale was completed. The same additional requirements apply as listed in Question 1 except the minimum credit score of 680 is not required. (Source: FNMA Announcement 08-16, 6-25-08. )

Q 4. What are”extenuating circumstances” ?

A Fannie Mae describes “extenuating circumstances” as follows:
Extenuating circumstances are nonrecurring events that are beyond the borrower’s control that result in a sudden, significant, and prolonged reduction in income or a catastrophic increase in financial obligations.
If a borrower claims that derogatory information is the result of extenuating circumstances, the lender must substantiate the borrower’s claim. Examples of documentation that can be used to support extenuating circumstances include documents that confirm the event (such as a copy of a divorce decree, medical bills, notice of job layoff, job severance papers, etc.) and documents that illustrate factors that contributed to the borrower’s inability to resolve the problems that resulted from the event (such as a copy of insurance papers or claim settlements, listing agreements, lease agreements, tax returns (covering the periods prior to, during, and after a loss of employment), etc.).
The lender must obtain a letter from the borrower explaining the relevance of the documentation. The letter must support the claims of extenuating circumstances, confirm the nature of the event that led to the bankruptcy or foreclosure-related action, and illustrate the borrower had no reasonable options other than to default on their financial obligations.
(Source: FNMA Selling Guide, 4-1-09 at 391. )

Q 5. How long is the time period after a deed-in-lieu of foreclosure before a consumer can be eligible to obtain credit to purchase a property?

A Four years from the date the deed-in-lieu was executed.
Additional requirements that apply after 4 years and up to 7 years following the completion date are as follows:
. Borrower may purchase a property secured by a principal residence, second home, or investment property with the greater of 10 percent minimum down payment ro the minimum down payment required for the transaction.
. Limited-cash-out and cash-out refinance transactions secured by a principal residence, second home, or investment property are permitted pursuant to the eligibility requirements in effect at that time.
(Source: FNMA Announcement 08-16, 6-25-08. )

Q 6. Does a shorter time period apply if the borrower has “extenuating circumstances” that led to the deed-in-lieu of foreclosure?

A Yes. Two years from the date the deed-in-lieu was executed. The same additional requirements apply as listed in Question 4 after 2 years up to 7 years. (Source: FNMA Announcement 08-16, 6-25-08. )
See Question 4 for the definition of “extenuating circumstances.”

Q 7. How long is the time period after a “preforeclosure sale” before a consumer can be eligible to obtain credit to purchase a property?

A Two years from the completion date. No exceptions are permitted to the 2-year period due to extenuating circumstances. (Source: FNMA Announcement 08-16, 6-25-08. )

Q 8. What is a “preforeclosure sale” mentioned in Question 6 and is that the same as a short sale?

A “A preforeclosure sale involves the sale of the property by the borrower to a third party for less than the amount owed to satisfy the delinquent mortgage, as agreed to by the lender, investor, and mortgage insurer” (Source: FNMA Announcement 08-16, 6-25-08 ).
Although the terms preforeclosure sale and short sale have been used interchangeably, there is a significant difference for purposes of obtaining credit. For Fannie Mae purposes, a preforeclosure assumes that the borrower has been delinquent in paying his or her mortgage and the lender agrees to accept a lesser amount to avoid the time and expense of a foreclosure action. A short-sale, however, can also refer to situations in which the lender of the mortgage agrees to a payoff of a lesser amount than is actually owed, even on a current mortgage, to facilitate the sale of the property to a third party. (Source: FNMA Announcement 08-16 Q&A, 8-13-08. )

Q 9. Does a shorter time period apply if the borrower has “extenuating circumstances” that led to the preforeclosure (short) sale?

A No. There are no exceptions to the 2-year time period. (Source: FNMA Announcement 08-16, 6-25-08. )

Q 10. If a borrower sold his or her property as a short sale but was never delinquent on that mortgage and is now attempting to purchase a new primary residence, will Fannie Mae purchase the loan?

A The loan will be eligible for delivery to Fannie Mae provided that the borrower’s previous mortgage history complies with Fannie Mae’s excessive prior mortgage delinquency policy–that is the borrower does not have one or more 60-, 90-, 120-, or 150-day delinquencies reported within the 12 months prior to the credit report date–and the borrower has not entered into any agreement with the short sale lender to repay any amounts associated with the short sale, including a deficiency judgment. (Source: FNMA Announcement 08-16 Q&A, 8-13-08 ; FNMA Selling Guide, Part X, Chapter 3, Section 302.09. .)

Q 11. Are preforeclosure (short) sales and deed-in-lieu of foreclosure actions identified on a credit report?

A Preforeclosure sales may be reported as “paid in full” with a “settled for less than owed” remarks code, and the mortgage trade line would indicate any recent delinquency. A deed-in-lieu may be reported by a remarks code indicating a deed-in-lieu. (Source: FNMA Announcement 08-16 Q&A, 8-13-08. )

Q 12. How long is the time period after a bankruptcy (all except Chapter 13) before a consumer can be eligible to obtain credit to purchase a property?

A Four years from the discharge or dismissal date of the bankruptcy action (Source: FNMA Announcement 08-16, 6-25-08 ).

Q 13. How long is the time period after a Chapter 13 bankruptcy before a consumer can be
eligible to obtain credit to purchase a property?

A Two years from the discharge date and four years from the dismissal date (Source: FNMA Announcement 08-16, 6-25-08 ).

Q 14. Does a shorter time period apply if the borrower has “extenuating circumstances” that led to the bankruptcy (all actions)?

A Yes. Two years from the discharge or dismissal; however, no exceptions are permitted to the 2-year time period after a Chapter 13 discharge (Source: FNMA Announcement 08-16, 6-25-08 ).
See Question 4 for the definition of “extenuating circumstances.”

Q 15. How long is the time period after multiple bankruptcy filings before a consumer can be eligible to obtain credit to purchase a property?

A Five years from the most recent dismissal or discharge date for borrowers with more than one bankruptcy filing within the past 7 years (Source: FNMA Announcement 08-16, 6-25-08 ).

Q 16. Does a shorter time period apply if the borrower has “extenuating circumstances” that led to the multiple bankruptcies?

A Yes. Three years from the most recent discharge or dismissal date. The most recent bankruptcy filing must have been the result of extenuating circumstances. (Source: FNMA Announcement 08-16, 6-25-08. )
See Question 4 for the definition of “extenuating circumstances.”

Q 17. What is the difference between a Chapter 13 bankruptcy and a Chapter 7 bankruptcy?

A Chapter 13 permits a borrower with a regular income to propose a plan to repay some or all of his or her obligations over a period of up to five years. A borrower who files a Chapter 7 is permitted to retain exempt assets and receive a discharge of the borrower’s debts. Chapter 7 is a relatively quick liquidation process that is generally completed within 120 days. Chapter 7 cases are rarely dismissed. (Source: FNMA Announcement 08-16 Q&A, 8-13-08. )

Q 18. What is the difference between a Chapter 13 dismissal and a Chapter 13 discharge?

A A borrower who files a Chapter 13 can dismiss the case at any time (voluntary dismissal) or the case may be dismissed by the court based on the borrower’s failure to comply with the requirements of the Bankruptcy Code or to make the required payments. If the borrower who files a Chapter 13 case makes all of the payments required by the plan, the borrower receives a discharge at the end of the plan. A borrower who doesn’t make all the payment required by the plan may still receive a discharge if the court finds, among other things, that the borrower made a certain amount of the payments and the borrower’s failure to make all of the payments was due to circumstances beyond the borrower’s control. (Source: FNMA Announcement 08-16 Q&A, 8-13-08. )

Q 19. What are the requirements to re-establish a credit history?

A After a bankruptcy or foreclosure-related action, a credit history must meet the following rquirements to be considered re-established:
. It must meet the requirements for elapsed time (as discussed in this article.
. It must reflect that all accounts are current as of the date of the mortgage application.
. it must include a minimum of four credit references. At least one of the references must be a traditional credit reference, and one of the references must be housing-related.
A housing-related reference must cover the period following the bankruptcy discharge or dismissal, foreclosure, or deed-in-lieu, and can be in the form of mortgage payments or rental payments.
If rental payments were not reported to the credit repositories, the lender must obtain copies of bank statements, money orders, or canceled checks for the most recent 12-month period as a supplement to the rent verification.
. It must reflect three of the four credit references, including rental housing references, as active in the 24 months preceding the date of the mortgage application.
. It must include no more than two installment or revolving debt payments 30 days past due in the last 24 months.
. It must include no installment or revolving debt payments 60 or more days past due since the discharge or dismissal of the bankruptcy or the completion of the foreclosure-related action.
. It must include no housing debt payments past due since the discharge or dismissal of the bankruptcy or the completion of the foreclosure-related action.
. It must include no new public records since the discharge or dismissal of the bankruptcy or the completion of the foreclosure-related action. Public records include bankruptcies, foreclosures, deeds-in-lieu, preforeclosure sales, unpaid judgments or collections, garnishments, liens, etc.
(Source: FNMA Selling Guide, 4-1-09 at 392. )

Q 20. Where can I get more information?

A This article is just one of the many legal publications and services offered by C.A.R. to its members. For a complete listing of C.A.R.’s legal products and services, please visit C.A.R. Online at http://www.car.org/.

Feel free to contact me with any questions or if you are thinking of selling your home whether it is a pre-foreclosure situation or not.

John Perkins
Realtor