Tag Archives: loan modifications

Loan Modifications: Are they really working? LOOK NO FURTHER SoCal!

People here in Riverside, San Bernardino & San Diego County, California and elsewhere are still trying to do modifications and are looking for help in order to keep their home.

loan modificationsWhere do you go? Calling the servicer who holds your Mortgage is a start, but what do you say? Saying the wrong thing or going through the process without getting counseling beforehand will most likely make the task extremely daunting, let alone cause you to fail and not keep your home. Calling one of the many solicitations you get in the mail, on television, or the internet that says they will help you can also be a mistake for fear of being swindled out of $1000’s, even by an attorney no less, who supposedly has a track record of many, many successes?

Calling a non-profit organization that is free is definitely a better way to start, however if some charge a fee, they are not a nonprofit and this will leave you with that feeling of oh-oh, I got swindled again, I am just going to give up!!

I suggest you talk to someone who has personally gone through the process successfully, who is a licensed real estate agent, and will not charge anything for the advice. I know you’re asking “why would anyone want to spend time with me unless they are making a fee?”  Or you say “I prefer to pay a fee or work with this or that company because they helped someone I know”…but they didn’t get the ultimate results (which I will talk about later). Or, what if you go talk to an agent who says he has experience, but really doesn’t–or what if they really want to just get the listing and sell your home as a short sale?

Whoa, what if you knew someone who would and did go through the process successfully, is a licensed real estate agent and doesn’t charge anything, then explains the reason why they wouldn’t charge you anything was because they will base their results on future business from you for having succeeded with you as the basis to forge a lifelong relationship with you as your real estate agent for life? What if I told you that I personally had over $120,000 in loans on my property forgiven and received an interest rate on my property of 2% with incentive money from the government to pay down my principle that was left on the existing mortgage on a monthly basis?

For those of you who live outside of Southern California, I suggest call me for personal direction. For those of you out there in process or starting a modification in Riverside, San Bernardino, & San Diego County, CA, I urge you to call me faster than your fingers can dial!! Thanks for reading and God Bless!

John A Silva (R)


Mortgage defaults in San Diego keep dipping

“Mortgage defaults in San Diego County continued to dip in November, helping the local market maintain a more than six-year low and keeping at bay the theory of another foreclosure surge, figures say. Foreclosures also fell last month.

The county racked up 819 notices of default last month, an almost 15 percent drop from October and a 50 percent drop from the same month a year ago, says a Tuesday report from local real estate tracker DataQuick.

Notices of default mark the first official step in the foreclosure process but not all of such cases necessarily result in foreclosures. Homeowners can avert foreclosure through a number of means, including getting a loan modification or completing a short sale, a deal in which they sell their homes for less than what they owe as long as the lender gives an OK.

November’s default tally is the lowest for the county since August 2006, when 794 defaults were recorded. They peaked at 3,832 in March 2009…”

Read the rest of SignonSanDiego.com’s article here: “Mortgage defaults in San Diego keep dipping”

Taxes, real estate, and marriage: ’till death do us part

Taxes, real estate, and marriage: ’till death do us part

In the aftermath of tax day, specifically personal taxes, some people have a sigh of relief while some people are devastated. We cannot all avoid some emotion for this day whether we filed early, at the last minute, or are prolonging the agony with an extension. I would say that if someone is experiencing agony, their taxes are usually always postponed and prolonged. Why is this?

In marriage, with the highest divorce rates ever, is it not the same result as in taxes by delaying the inevitable if there is a problem? The procrastination of not addressing a problem or not thinking it is a problem when the other spouse does, spells disaster.

In real estate, I also see similar scenarios: with most people waiting ’till the last minute, whether trying to keep their home with a bad loan that’s worth more than the actual house, while days or weeks away from a foreclosure. Or with false hopes of keeping the property and thinking that they will get the modification done or that better yet, a miracle will happen and their loan will go away! While all these positive results are possible, isn’t it also possible to win the lottery? Your answer of “yes” is correct, but unfortunately the answer of “unlikely” is also correct. Unrealistic expectations rarely add up.

Anyone who has married knows they take a vow of “’till death do us part”, while taxes literally follow you until death and could even lower your estate in the process after death.  In real estate, some people have the notion that they will not leave their home unless they are dead! My take on this is that many people just do not see the big picture. I ask the question again: Why is this?

Everyone knows that life and everything on this earth is not forever–taxes, real estate, marriage–but still want to hold onto everything in it. We are all guilty of this, and yet we all know the reality deep down inside. If everyone told their friend going through the rough bumps in life that they knew of someone right here that could advise them on their situation, and has the experience and record to back it up, wouldn’t that make a difference in that person’s life?

I work with attorneys and accountants, and am a seasoned real estate professional that will handle your situation as if it were my own. Won’t you call? I am here to help 24-hours a day, your Realtor in Action–call now, or better yet: “Just Do It!”

– John A. Silva

(619) 890-3648