Dear Sue,
I read your article in the Roseville paper this week. I recently went to the Web site you suggested and could not find anything on modifications. Can you help me regarding this? I went to the search engine and typed in modification licenses. I could be looking in the incorrect area. I have two loan companies I am currently looking at to re-modify my loan, Mile Stone Capital and HFC foreclosure solutions in New Jersey.
Thank you.
— Modifying Milly
Dear Milly,
Go to the Department of Real Estate’s Web site at www.dre.ca.gov, click on the Home Buying & Mortgages tab at the top of the page, then on the left side under the heading Mortgage Quick Links, click on the Advance Fees/Loan Modification link. Once there, in the middle of the Web page, you can click on the Advance Fee Agreement Listing link.
If you want to try it in one step, you can bypass the above directions by just typing in this entire address in your Web browser: www.dre.ca.gov/mlb_adv_fees_list.html.
In my opinion this link was a little buried considering how relevant loan modifications have become in the current market.
As you navigate through the Department of Real Estate Web site you will find other informative material. Just let me emphasize that if an advanced fee is required, choose a loan-modification company from the list. I would also suggest consulting your CPA and/or attorney. Good Luck!
Dear Sue,
My wife and I are getting ready to sell our home. We are lucky because we still have some equity. Our home is 15 years old. It was new when we bought it and it’s in pretty good shape.
My wife and I are at odds. We disagree about most things. Actually we are in the process of a divorce. She thinks we should just sell it “as is” and not put money (since we don’t have any) into any cosmetic fixes, but I say we should borrow money and put it in to top condition.
Is it still true that top condition gets top dollar?
— Soon to be Divorced Sam
Dear Sam,
I am sorry to hear about your divorce. In spite of all of the distressed property sales, it is still true that properties in top condition net top dollar.
The single most important thing one can do happens to be the least expensive. Clean. Clean. Clean. That includes de-cluttering and using a toothbrush on the grout. Make it shine.
The second most important thing you can do is paint.
Everyone responds in a positive way to something that is fresh and clean.
If you choose to paint, keep your color choices subtle. Pick colors that create the warming effect that buyers want to feel in a home. Stay away from bold, opinionated colors.
To make the best out of a bad situation I would suggest getting the help of friends and family —assuming they can all be in the same room together — to help with what probably appears to be an overwhelming job.
Before you begin, I would suggest having an independent person look at your home with a buyer’s eye. Ask them to give you unbiased suggestions. Following them can be a matter of good Home $$$s and Sense.
Sue Thompson is owner and sales manager of HomeTown Realtors. She can be reached at seesue@seehometown.com, or on the Web at www.homedollarsandsense.com.
