Happy Labor Day! Mortgage rates at record lows.

I hope this Labor Day finds you employed and making all the income you need or want.

Me

With all the economic news, how can anybody filter it or know how it is going to effect them? I just want to reiterate a couple of points as we begin to approach the real annual ” Holiday Season”

If you are having problems keeping up, please, please, please do not let your house go in to foreclosure. If you have tried to do a loan modification and failed, Short Sell the property.

It will take 4 to 6 months so you have time to decide where you will live after you leave and your situation will be far better than if you allowed the bank to take back the property. And…almost nobody knows that you sold it short, they just know that you sold it.

Even high end properties are candidates for this process. It is an economic reality that some people (yes good people) are unable to continue paying their mortgage.  If you live in San Diego County, I am your short sale expert.

If you live elsewhere in the country, I can get you to the best Realtor to handle your situation. Call or email me now!

That said, the buying opportunity is incredible right now. The interest rates are ” Oh my God!” low and the housing prices are still near the bottom. If you are looking for investment or are on the fence about buying, get going now. In five years you will be so happy you made this choice.  In many places inventory is abundant and you have lots of choices. If you live in San Diego, your choices are limited, but I’m sure we could find something you like.

One last item today.  Mortgage Brokers have taken a hit as part of the cause of the “loan fiasco” over the last few years. That area seems to be taking the brunt of new legislation. I found a good article which explains the mortgage industry a little and shows where it is headed. Go read this blog by Phil Stevenson.

Well go enjoy the Holiday!!!