Author Archives: tomo92596

Why the 2020 COVID-19 crisis isn’t like 2008

Posted on April 28, 2020 by tomo92596

Will this year’s recession be as bad as — or worse than — the Great Recession? To understand the answer, we have to look at some key differences. The future is always unknown. However, many of us are looking to … Continue reading →

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Are you under a mortgage crunch, because of COVID-19

Posted on April 27, 2020 by tomo92596

COVID-19 has placed millions of homeowners at risk of losing their homes. Here’s what you we can do to help homeowners survive their mortgage crunch, avoid foreclosure and keep their homes.  If you know of anyone who is facing a mortgage crunch due … Continue reading →

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California Guide to Evictions, Rent and Foreclosures

Posted on April 27, 2020 by tomo92596

California has had one of the more robust and far-reaching responses to the coronavirus. At the state level, Gov. Gavin Newsom signed an order that allows local jurisdictions to pause evictions. Newsom also brokered a deal with major banks that will give mortgage … Continue reading →

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Banks agree to mortgage grace period in California

Posted on April 27, 2020 by tomo92596

Gov. Gavin Newsom announced Wednesday that Wells Fargo, Citibank, JP Morgan and U.S. Bank would give homeowners a 90-day grace period As millions of Americans face the prospect of declining wages and layoffs amid the coronavirus pandemic, California Gov. Gavin Newsom … Continue reading →

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Are Short Sales Dead?

Posted on May 11, 2017 by tomo92596

I’ve been hearing throughout the industry that short sales are dead and lenders are not giving approvals. I’m not seeing that necessarily as I just received a Wells Fargo short sale approval. Just in the past there has to be … Continue reading →

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Obama Administration Extends Deadline for Making Home Affordable Program

Posted on April 8, 2014 by tomo92596

Extension through December 2015 Will Provide Struggling Homeowners Additional Time to Access Sustainable Mortgage Relief and Align End Dates for Key Assistance Programs WASHINGTON – The U.S. Department of the Treasury and the U.S. Department of Housing and Urban Development today … Continue reading →

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IRS and California Franchise Tax Board Declare California Distressed Home Sellers Not Liable for Federal or State Income Tax on Short Sales, C.A.R. Announces

Posted on December 4, 2013 by tomo92596

Here is a link to some exciting news about the tax ramifications for a short sale in California. http://www.businesswire.com/news/home/20131204006476/en/IRS-California-Franchise-Tax-Board-Declare-California At Team Olsewski, we’re dedicated to providing you with valuable information and insights in the changing mortgage environment. For more about … Continue reading →

Posted in Buying a home after a short sale., Making Home afforable Program, Tax Ramifications of a short sale | Tagged , | Leave a comment

Short Sales vs Foreclosures on a Credit Report

Posted on July 29, 2013 by tomo92596

It may surprise you to know that a short sale will typically appear no different on a credit report than a foreclosure. For someone looking to qualify for a home loan, this can be a major issue. It looks like … Continue reading →

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Buying A Home After A Short Sale

Posted on July 26, 2013 by tomo92596

Riverside County homeowners are feeling a lot better today.  Point your ear out your front door and listen: you may hear a sigh of relief!  Prices are rising – like crazy in some places – and fewer homeowners are upside … Continue reading →

Posted in Buying a home after a short sale., Credit Challenges, Foreclosure, Making Home afforable Program, Pre Foreclosure, Short Sales | Tagged , , , , , , , | Leave a comment

Bank of America Exposed.

Posted on June 17, 2013 by tomo92596

Bank of America has recently been exposed by a former worker. After years of being stalled by Bank of America about lost faxes, and being told the short is being reviewed the truth comes out. Bank of America and other servicers get … Continue reading →

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