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Shortsale = 7 Years to Buy Again??? Ha!

by Darrell Isaacs Team Professionals

Recently there was an article that apparantly appeared in various publications stating that a ShortSale, Deed in Lieu and Preforeclosures Sales would all be treated by Fannie Mae, the nation's largest provider of mortgage funds, as a foreclosure, thus ensuring the 'offending' party would not be able to purchase a home for 7 years! 

So, in doing my little part to correct his misinformation I am posting below, a snipit from Fannie Mae's website showing the facts are completely different. 

Why is this important? 

In San Joaquin County, greater than 1 in 5 homes are in trouble!  Shortsale is one, frequently the BEST, solution to that owners challenge.  And the reality is after some 'time' has passed, that SAME OFFENDING party can reenter the home buying market, at prices that currently are from the last century, and with some proper guidance, (please please please see me on that subject!) they will have the stability and hope that all Americans look for with their home.  A second chance, a new beginning, a Genesis!  (that was my shameful plug :) )

So... what did Fannie Mae say?

Fannie Mae’s most recent bulletin states that Deeds-in-Lieu of Foreclosure, Preforeclosure Sales, and Short Sales all have waiting periods as follows:


This bulletin was released in June 2010, and Fannie Mae has confirmed with us today that this is the most recent bulletin.

The subject of should you or should you not enter into a shortsale is quite emotional.  Here at Genesis, we understand and always remember... we are talking about your 'home' not a house. 

I thought this might be a bit of good news as we enter the final days before Christmas.  Hope so.

And hope is also that your Christmas will be blessed, full of wonderful memories, those new and old.  The future is a choice... choose to enter it without the negative baggage of the past, and all the hope for the new!

Merry Christmas!

Darrell

Merry Christmas!!! As a child...

by Darrell Isaacs Team Professionals

Merry Christmas!!!  

 As a child a part of the magic of Christmas included writing to Santa with my ‘Wish List’ and going downtown after Thanksgiving for the official Lighting of the public Christmas decorations.  In our fast paced society we have lost a bit of the magic.  So, to recapture some of that magic we would love to arrange for Santa to write your child, or grandchild, a personalized letter.  Details are below. But hurry, Santa is on his way! 

Success! 

Darrell

 -----------------------------------------------------------

Dear Friends,

          In the spirit of the holiday season, we will be sending

Personalized letters from Santa to any child and/or grandchild!

          If you know of anyone who would enjoy receiving a letter from

Santa, send me their name(s), address(es), and if a Boy or Girl.

Emailing the info to my Team is the fastest most sure way of

Meeting the deadline. Please submit by December 13th to ensure timely

Delivery.

        You can also fax at 209-244-7171.

MERRY CHRISTMAS!!! 

 

The Darrell Isaacs Team

Integrity...Knowledge...Success!

 

 

Today I Have Learned Something New

by Darrell Isaacs Team Professionals

Today I have learned something new, ok, some of you may have guessed it before me, but, for me an "ah ha" moment.

"There are some smart cookies out there. I am not one of them." You can guess which is the Ah-ha on your own.

Sitting in Dallas, TX, at the 5 Star Conference, listening to panelist speak on the subject of Figuring Out FinReg, I am painfully aware of which club I am a member of.  The discussion is based on the new laws being passed or worked on right now, that will define the financial rules going forward.

Which side you take is really not the message here, but that the average American, like me, will not "get it".  Sitting here hearing rather political neutral summations, I think we have a financial octopus that probably would be better declared a centipede, except they are not scary enough.

So, what's "Mr & Mrs. J. Average" to do?

Protect yourselves from the damages that others can inflict on you. Whether new laws, bank demands, or credit merchants, move to a place where savings become important part of your monthly expenditures, take advantage of ways to lower monthly costs, long-term planning to ensure you have the best opportunity to have a future.  Wow. That was me, not the brainee's that spoke today.

So, how do we, who have no Master's in Government Double Speak, do these 3 simple tasks?

 1- Look at your income. Cut all nonessentials. Ouch, I know, but the subject here is  survival. Does cable TV really equal survival? Or Starbucks? Ouch, that one got me too! Is the Beemer really the best deal for you? Did you really make more money because YOU owned it? Did the trade in values payoff better than owning a car for 7-8 years with half that time having no payment? Get the picture? Remember the story of the ant and the grasshopper?  One stored, one bought Beemers.  Winter is coming.

 2- With today's incredibly low mortgage rates, lowered home values and continuance of tax shelters, most can ‘own’ cheaper than rent, and here is the little bitty secret you probably do not know. As a renter, on month 361 you will have a payment! Whoa! Too simple to give much value or thought too but really, don't you plan on living???  So, you handled that secret so good so here is the next point.  Rent in 1980 for a 3br home was $395-410. Today, $1000-1090.  What will it be in 2040?  Oh yeah, and your mortgage payment was locked-in in 2010, and remained unchanged. 

 3- Set a clear picture, with rewards built in, that will guide your future spending/savings plan. You are not the 20-somethings any longer and it won't get any easier the older you get. Proof: look at how many 60-somethings are praying the social security system doesn't fail.  Don't grow up to be one of them.

Ok, back to the class, what did these 4 high-ranking government/banking fellows conclude? That they can't agree on the solution! Surprised? 

Place responsibility for the future where you can impact it...in your hands.

And, remember to vote.

SUCCESS!

Darrell

Happy Father's Day!!!

by Darrell Isaacs Team Professionals

Happy Father’s Day!

I love being a father; even months before December 1, 1974 I could tell that I would love it.  And it is an understatement to say that July 1, 1978 life ratcheted up massively with birth of our 2nd child, and I loved it.  Did I mention I love being a father?

To watch my son and daughter grow, to play a part in their development and now to stand back and bask in pride as I see who they have become, stand in awe at the decisions they make, and to top it off, to see them move into young parenthood!  Life is Good!  God is Good!

So when my friends Zenet and Carri sent me the following, I knew I had to get their permission to share with you all.  If we want a future for our children, and now our grandchildren, we might want to read, re-read and then take responsibility for making better decisions.  Oops!  Hope I didn’t go too far!  But don’t you agree that when we see 54% of our income going to taxes and interest, that, yeah, it means we must make better decisions?

_________________________________________________________

Dear Darrell,

Happy Father's Day to all the fathers who are reading this newsletter.  This Father's Day make dad happy by showing him how to pay off all the family debt obligations before he retires.  

Contact our team at GPS Financial Solutions and see how you can wrap up this present for dad.  What more would dad want?

Sincerely,
Zenet and Carri
GPS Financial Solutions

__________________________________________________________ 

Where Does It All Go?

 

The average person earns $1 to $4 Million in their lifetime.  Do you know where it all goes?
 

Insurance 9%

Purchases/Principal payments 16%

Entertainment 2%

Household 19%

Taxes 28%

Interest 26%

Interest consumes a staggering 26% of the average person's income second to taxes. 

__________________________________________________________

You need a plan to reduce the amount of interest you pay on debt, Zenet & Carri might be able to help.  November is coming, let’s make decisions that say “yes, I know where it goes, and more goes to my future, not to the past”.  

SUCCESS! 

Darrell

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Photo of Darrell R. Isaacs, CRB CRS Real Estate
Darrell R. Isaacs, CRB CRS
Genesis Real Estate Group
149 W Yokuts
Stockton CA 95207
Phone: 209 957-2929
Fax: 209 244-7171

   Genesis Real Estate Group     Darrell Isaacs Team Professionals
   BRE License # 01874804        BRE License #00556614