2 comments | Wednesday, February 2, 2011
HELLLLLOOOO My Wonderful Beautiful San Francisco Bay Area!!… What a beautiful day we’re having today… We’re so fortunate to live where we do… Life here is the best!!… Today for your amusement and consideration as a possible very viable alternative to the high cost of homes as we know it… There’s big interest brewing for this option… what do you think??….
2 comments | Monday, October 18, 2010
Helllooooo My Wonderful Beautiful Bay Area!!…
Today… we have an extension of my posting on Tuesday October 12… Foreclosures Halting… Now What??!!!…
The breadth and ultimate effects of this latest Foreclosure Issue may not be realized anytime soon, while we wait for more solid information to come down the pipeline etc… I thought you’d like to hear from a trusted very experienced loan consultant and good friend of mine, who was kind enough to share his personal perspective on the Foreclosure Situation…
(The content below is not be construed to be anything more than his own personal opinion)…
Hi Isi,
My personal belief is that lenders have been very patient with homeowners and to add this extra burden to already stretched banks and lending entities is simply suicidal for our economy. Homeowners that are behind know very well they will lose their home. Just like you and I know that on a clear day, the sky is blue. Banks need to be able to move on their assets and eventually be solvent again. Banks are not our adversaries. Heavy and costly government along with the heavy and costly regulation that comes with it, is the problem.
My business is so laden with regulation now that the average applicant is paying a higher rate and more fees to obtain the same product and the new regulations have done very little to enlighten the consumer to what they are getting. Sadly, the only benefit the consumer has received is the privilege of paying more for the same product.
On a different subject. The economy starts with the consumer ( you and I and our neighbor) – not with business as these administrations keep pushing. If the consumer has money at the end of the month and is not worried about the future and heavy inevitable taxes, then the consumer will spend which then leads to demand for services and products. Hence employment. The only way the consumer is going to have money to spend and feel good about the future is heavy federal and state tax cuts along with heavy government spending cuts. If I had an extra $10,000.00 at the end of the year and I see a government heavily cutting back and behaving fiscally responsible, I might just purchase that couch we need or maybe I will get a new car. Multiply this spending by millions and hence demand will jump, businesses will see this demand and expand hiring people and the future would be bright.
This government is poised to spend and unless you are willing to cut government way back it is useless talking about tax cuts. So vote them out and replace them with leaders who tremble at the thought of big government and spending. In order to prosper, government must be squeezed, regulation must be loosed, and tax burdens must be lifted. There is no other formula for a great and prosperous America.
Hope this helps.
Tom Erbil
Mortgage Broker – DRE License# 00934494
Stay tuned in and check back for more updates as they become available…
Isi
Isi Wu… the realtor for you!
Serving Clients All Over the Eastbay and Beyond…
Comments Off | Tuesday, October 12, 2010
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HELLLLLOOOO My Wonderful – Beautiful Bay Area… The news is out… A number of major banks have volunteered to temporarily suspend foreclosures in 23 states and Bank of America is temporarily suspending foreclosures nationwide…
This situation is changing daily… this is just part of what we know so far… so far only Bank of America has extended its foreclosure moratorium to California, where the vast majority of foreclosures are conducted without a court order… the other 22 states are processed through the court system. However non-judicial foreclosures in California do have legal requirements that lenders must follow… Other lenders and servicers placing foreclosure moratoriums are… Goldman Sachs Group Inc’s Litton Loan Servicing, Ally Financial Inc‘s GMAC Mortgage unit, JPMorgan Chase and PNC Financial… please keep in mind they are only Temporarily halting the foreclosure process until they have reviewed whether some lenders/servicers were following correct procedures prior to foreclosing on properties. This is all taking place voluntarily there has not been any mandates by either State or Federal entities. The bigger question is… just how long will it really take to straighten this mess up??!!!
The immediate impact of this moratorium on your transactions may cause delays and may even remove the listed foreclosures.
Lets all hope these latest events will be resolved swiftly to minimize the impact on our housing market in the Bay Area!
Stay tuned in and check back for updates as they become available…
Isi
Isi Wu… the realtor for you
Serving Clients All Over the Eastbay!
5 comments | Wednesday, December 9, 2009
Hellooooo my Beautiful Wonderful San Francisco Bay Area!!… The Burning Question of the Day!!
Everyone listen up… NOT ALL BANKS have the same requirements to close short sales… Dont Assume they’re all the same… ding ding ding… please wake up sellers, buyers and agents!!… 
The short sale process is generally as follows…
If you’re running past 120 days… its possible the listing agent or a 3rd party negotiator isnt on the ball and very lax in contacting the bank… calling the bank can mean waiting on hold anywhere from10 minutes to an hour or longer… or it could also mean the bank has internal problems ie) not enough staff or lost the file a few times… causing agents to resend packages over and over… You cant always avoid problems in a short sale… PATIENCE is key… threats to walk away from your offer means nothing to the bank… stick it out and wait… if you really truly want the home….
Thanks for checking in… your comments are always welcome…
Come back and visit all the time!!…
Isi
Isi Wu… the realtor for you…
Serving Clients All Over the Eastbay…
Comments Off | Monday, December 7, 2009
Greetings and Happy Happy Monday to You My Beautiful Wonderful San Francisco Bay Area… Hallelujah Hallelujah… the recent extensions for the up to $8,000 tax credits will certainly encourage first time homebuyers to become proud homeowners… but did you know there are other incentives established in various cities throughout our beautiful Bay Area? Cities that participate have their own set of requirements and money allotments to help low and moderate-income households receive extra monies… to assist them in buying their first home… some of the cities will also allow folks who have previously owned homes within a certain time frame to apply … (each city has their own set of rules and guidelines, each city has different maximum amounts of money they will award each applicant and each have their own repayment plans … all depending on need… keep in mind its usually first come first serve until all the allotted amount of monies are used up… you will be required to attend workshops and attend a seminar or two to get into the program… all designed to inform and educate about the process)…
Lots of people have no idea these programs exist or they cant believe they exist.
Lets take the City of San Leandro as an example… when you attend a city run First Time Homebuyer Seminar you will learn ways to get up to $65,000 in home purchasing assistance!!… Over the past 2 years some 20 San Leandro households have made their first home purchase through this program.
San Leandro offers down payment loans up to $30,000 at 3% interest for 20 years. No payments are due for 5 years, nor does any interest accrue during that period. In addition the Federal Home Loan Bank WISH Program may also contribute $15,000, which is forgiven… you never have to pay that amount back. On top of this, the California Housing Finance Agency may lend an additional 3% of the purchase price… which is deferred for 35 years… and with the new extended federal tax credit of $8,000… makes this a huge opportunity for those who qualify for the help!!… San Leandro’s program allows a maximum of $75,000 for 1 person to earn in wages & $85,700 for a 2 person income per year… Buyers must also provide at least a 3% down payment… the home must be purchased in the city limits… more detailed information will be given at the seminars. You may download the city’s First Time Homebuyer Brochure in several languages at…
Please pass this information on to those who can use it and most definitely look into cities you’re interested in… just google City of _______________________…
This is a wonderful thing…
As always… Thanks for checking in… your comments are always welcome…
Come back and visit all the time!!…
Isi
Isi Wu… the realtor for you…
Serving Clients All Over the Eastbay…
3 comments | Thursday, December 3, 2009
Greetings to You My Beautiful Wonderful Bay Area… The Thanksgiving Holiday has come and gone… hope it was spent the way you wanted! It always takes me awhile during and after the holidays to come back to full work mode… its always a special time for reflection and its a great way for me to just take it all in… whatever that might be… but you’re never ever far from my mind…
Today I want to share this with you… Its something that came across the news yesterday… There’s a growing epidemic of people across this country… about to be foreclosed on who have resorted to burning down their homes!!… mostly out of sheer desperation because they cant get help from their banks… many resort to this with the misguided understanding that by losing their homes to fire their home insurance will pay off their mortgages!!… Some may look at this as not being desperate, but being spiteful and destructive and greedy. The fact is… its happening… right or wrong… (its not the issue)
http://bit.ly/7zUIUI and http://bit.ly/8cX1lv
Its a terrible terrible situation… this problem obviously is too large for any one of us (as individuals) to fix…but we need to remember that there are so many others with much bigger problems than we have… whether they brought it upon themselves or not… I surely dont know what the solution is or if there ever will be…
I just hope we can keep in mind the “reason for the season”… and work towards a better future for all.
Thanks for checking in… your comments are always welcome… Come back and visit all the time!!…
Isi
Isi Wu… the realtor for you…
Serving Clients All Over the Eastbay…
3 comments | Thursday, November 26, 2009
Wishing you and yours a safe and Happy Thanksgiving! Although this year has been a rough one here in our beautiful, wonderful San Francisco Bay Area and all around this world of ours, a very good friend reminded me of the eloquent words of William DeVaughn which bears repeating:
“Though you may not drive a great big Cadillac, Gangsta whitewalls, TV antennas in the back. You may not have a car at all. But remember brothers and sisters you can still stand tall… Just be thankful for what you’ve got…”
Do you recall the song??…
Thanks for checking in… your comments are always welcome… Come back and visit all the time!!…
Isi
Isi Wu… the realtor for you…
Serving Clients All Over the Eastbay…
Comments Off | Sunday, November 1, 2009
Greetings All… Just for fun… isnt it all about the kids??. 
click here for some Halloween fun…. http://bit.ly/3fr22S
Share some fotos from your neck of the woods… all over the San Francisco Bay Area and the Eastbay!!…
As always… would love to hear back from you… I welcome your feedback… Lets Start a Dialogue!…Save Me in your Favorites and come back and visit all the time!!…
Thanks a Bunch for your time today…
Isi Wu… the realtor for you…
Serving Clients All Over the Eastbay…