House Offer Includes Sunset of HVCC!

In an announcement by Chairman Frank released the House Offer on the financial reform overhaul bill. The proposed amendment for Title XIV includes the provision to sunset the Home Valuation Code of Conduct (HVCC).

Full N.A.R. article: http://bit.ly/9wfFc9

Foreclosures sell at 30% discount

Foreclosures accounted for a third of all sales -- and sold at a nearly 30% discount -- during the first three months of 2010.

According to a new report from RealtyTrac, the marketer of foreclosed properties, 31% of all sales were foreclosures. And homebuyers purchasing those properties paid a whopping 27% less, on average, compared to sales of non-distressed homes.

These foreclosure sales include properties sold in short sales or after a bank repossession, known as REOs in industry terms. It does not include transfers from borrowers to banks, as in a sheriff's auction.

REOs, those homes already taken back from borrowers, commanded lower prices than short sales and other pre-foreclosures. The average REO sold for 34% less than conventional sales while pre-foreclosures averaged only 15% less.

Part of the reason for the bigger price cut for REOs is that many of them come to the market in poor condition, their previous owners either unable to or unwilling to maintain them.

Full CNNMoney article: http://bit.ly/cUwmyY

Great news for First Time Home Buyers!

Home buyers may soon win more time to get to the closing table to qualify for a federal home-buyer tax credit of up to $8,000.

The House of Representatives passed the Homebuyers Assistance and Improvement Act on Tuesday to extend the deadline for the home-buyer tax credit, which would give buyers who have purchase contracts in place three more months to close on the sale. The measure still awaits approval in the Senate; a vote there could come as early as Wednesday.

Full MarketWatch artcle: http://bit.ly/9prirW

Search Listings Online For Free Right Now!

We provide a free access to a home search that will help you find the home of your dreams! Our MLS search tool will allow you to save searches and save listings so you can keep coming back without the headache of starting the search all over again. If you are not sure what price range you qualify for, please apply now and we will have one of our qualified home loan specialists contact you and get you Pre-Apporved for your home.

Start your search today! http://bit.ly/aS9AZG

If you would like to speak with one of our Financial Representatives, call 1.866.558.3998 now!

For Sale: 3BR/2BA Single Family House in Rancho Cordova, CA, $199,900

For Sale: 3BR/2BA Single Family House in Rancho Cordova, CA, $199,900

Charming home in high sought after Anatolia community! Nicely maintained property, pefect as starter home or investment.This 1507 square foot single family home has 3 bedrooms and 2.0 bathrooms.

Let Our REO Experience Be Your Advantage

Our Services

Asset Financial Center staff has successfully closed transactions and/or has current relationships with the following companies:

• PennyMac
• Wachovia
• Wells Fargo
• Bank of America/Countrywide

Asset Financial Center embraces the ideal of quality. Their high level of success has been achieved by deriving accurate pricing, executing a detailed marketing plan and capitalizing on a respected reputation in the marketplace which allows them to quickly price, market and close the subject properties. We are well versed with Bank Owned properties and are prepared to assist with all of the required services below:

Property Analysis, Set-Up, Negotiation and Escrow

• Occupancy reports within 24 hours
• Cash for keys, continuation of a tenancy relationship or unlawful detainee determined
• Securing, re-keying, and winterization as required
• Assessing required maintenance, trash outs, cosmetic repairs (negotiated volume discounts with vendors based on usage)
• Full BPO/CMA with exterior and interior photos
• Initiating and maintaining all maintenance services
• Obtaining updated title reports
• Determine HOA and obtaining status of dues and assessments
• Present analysis of the BPO, listing "as is" vs. "repaired", and direction of current local market conditions
• On-going review of the market with current CMA every 21 days to determine optimal marketing
• Presentation of clean, completed purchase agreements with all required addendums, buyer loan approval and deposit checks.
• Coordination of complete escrow process

Still have questions or would like to contact us regarding our REO services?

• Call us at 888-210-9838 or email at info@AFC360.com

For Sale: 3BR/2+1BA Single Family House in West Sacramento, CA, $164,900

For Sale: 3BR/2+1BA Single Family House in West Sacramento, CA, $164,900

Exquisitely remodeled 3 bedroom 2.5 bath home with over 1,500 square feet and built in sparkling pool. This home is located in a quiet cul de sac and desirable neighborhood. Living room dining room combo with brand new paint and carpet! Kitchen with black grantie county tops! This beautiful home is full of charm and character!

For Sale: 1BR/1BA Single Family House in Sacramento, CA, $234,900

For Sale: 1BR/1BA Single Family House in Sacramento, CA, $234,900

Investor's paradise, bank owned river front property with boat dock on Garden Highway. This 900 square foot single family home has 1 bedrooms and 1.0 bathrooms. It is located at 2375 Garden Hwy Sacramento, California.

For Sale: 3BR/3BA Multi-Family in Sacramento, CA, $449,000

For Sale: 3BR/3BA Multi-Family in Sacramento, CA, $449,000

Extraordinary 4 unit property in the highly desirable midtown region of downtown. 1 studio and 3 single bedroom units! All units are currently tenant occupied. Property shows well inside and out.

For Sale: 5BR/3+1BA Single Family House in West Sacramento, CA, $399,000

For Sale: 5BR/3+1BA Single Family House in West Sacramento, CA, $399,000

Beautiful home in the Rivers community. Tastefully designed with granite counters, cherry cabinets and stone flooring. 2 master bedrooms, 1 upstars and 1 downstairs. Stunning backyard with waterfall sitting on the community park.

For Sale: 4BR/2+1BA Single Family House in Gold River, CA, $359,000

For Sale: 4BR/2+1BA Single Family House in Gold River, CA, $359,000

Spacious home in Gold River. Large kitchen and living space make this a very functional space. All bedrooms and a loft are upstairs. This 3057 square foot single family home has 4 bedrooms and 2.5 bathrooms.

Understanding HAFA

What is HAFA?

The Home Affordable Foreclosure Alternatives (HAFA) program is a government-sponsored initiative activated on 4/5/2010 that is overseen by the US Treasury Department and administered by Fannie Mae. The primary focus is aiding eligible homeowners by pre-approving short sales before listing and releasing them from future liability for the first mortgage debt

Who is eligible for HAFA?

• The property is the borrower's principal residence
• The mortgage loan is a first lien mortgage originated on or before 1/1/2009
• The mortgage is delinquent or default is reasonably foreseeable
• The current unpaid principal balance is equal to or less than $729,750
• The total monthly mortgage payment exceeds 31 percent of the gross income
• Short sale requested from current lien holder

What is the financial incentive of HAFA?

• Qualified homeowners receive $3,000 in borrower relocation assistance after a short sale (may classify as taxable income - please refer to your tax advisor or CPA)

Is my loan servicer participating in HAFA?

• Check here http://www.makinghomeaffordable.gov/contact_servicer.html

Still have questions or would like to confirm your eligibility for HAFA?

• Call us at 888-210-9838 or email at info@AFC360.com

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