animals

Guide Dog For Blind Dog

blind-dog1

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Click on picture to enlarge, click on picture to return to normal view.

A friend of mine sent these pictures.  It’s so touching, I had to put it on this blog.

Lily is a Great Dane that has been blind since a bizarre medical condition required that she have both eyes removed. For the last 5 years, Maddison, another Great Dane, has been her sight.

The two are, of course, inseparable.

 

 

 
For all your real estate needs:
Call or email

John J. O’Dell Realtor® GRI
Real Estate Broker

(530) 263-1091
Email jodell@nevadacounty.com

DRE #00669941

 

Real Estate

Handling High Mortgage Costs

New York Times
Closing costs can increase the price of a home by as much as $10,000, sometimes more.  Borrowers who are “cash-poor” can ask for assistance, or talk to their lender about a lender credit toward closing costs.

  • Some lenders advertise that if borrowers agree to accept a mortgage interest rate from a quarter to a full percentage point higher than they would ordinarily qualify for, they can receive credit toward their closing costs.
  • These mortgages are sometimes called no-closing-cost loans, though the term is misleading.  The credit usually covers only fees charged by the mortgage broker or bank, like the loan origination fee, the underwriting expense, and the appraisal.  That generally leaves title insurance, mortgage-recording taxes, insurance, and escrowed taxes to cover.The amount of credit depends on total closing costs and other loan details.  Generally, for every one-eighth of a point increase in interest rate, borrowers receive a credit worth half a percentage point of the principal amount.
  • While these mortgages can be helpful to some, borrowers should carefully review all the details.  There are pluses and minuses to these loan types.  A downside is the higher rate and monthly payment remain in place through the life of the loan.
  • Doing a side-by-side comparison of loans with and without the credit can be helpful.

Read the full story

 

For all your real estate needs:
Call or email

John J. O’Dell Realtor® GRI
Real Estate Broker
(530) 263-1091
Email jodell@nevadacounty.com

DRE #00669941

 

Real Estate

How Long Are Loans Delinquent in Foreclosure?


Loans in foreclosure have been delinquent an average of 624 days — a record high, according to Lender Processing Services’ September report.

The time loans spend in foreclosure continues to increase. For example, 40 percent of home owners with loans in foreclosure have failed to make a payment within two years, and 72 percent of home owners have failed to make a payment in a year or more.

The time from the last payment to foreclosure sale has been found to be even longer in judicial states, in which foreclosures must be approved by the courts. The time span in judicial states is averaging 761 days, six months longer than non-judicial states, LPS reports.

While loans are spending longer in foreclosure, the number of foreclosure starts is decreasing. Foreclosure starts decreased 11.2 percent in September compared to August, and foreclosure starts are 15 percent below a year earlier, LPS notes in its recent report.

The states with the highest percentage of loans in delinquency or foreclosure are:

  • Florida
  • Mississippi
  • Nevada
  • New Jersey
  • Illinois

The states with the lowest: North Dakota, South Dakota, Wyoming, Alaska, and Montana.

Source: “LPS: Foreclosures Delinquent an Average of 624 Days,” HousingWire (Nov. 1, 2011) and Lender Processing Services

Thinking of buying or selling?
For all your real estate needs
Email or call:

John J. O’Dell Realtor® GRI
(530) 263-1091
Email jodell@nevadacounty.com

 

 

 


Real Estate

Troubled Homeowners Get A Lifeline

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The government is changing its Home Affordable Refinance Program (HARP), making it easier for homeowners to refinance their underwater, high-interest mortgages.

Making sense of the story

  • Although HARP has helped more than 890,000 homeowners nationwide by reducing their monthly mortgage payments, there are still millions of homeowners who are too far underwater to participate.
  • Under the new rules, homeowners who owe more than 125 percent of the market value of their homes will be allowed to refinance into new loans.
  • The program also streamlines the refinancing process for homeowners who are current on their mortgage payments and reduces or removes fees that previously hindered them from refinancing.
  • Fannie Mae and Freddie Mac also will reduce the fees they charged in the past to enable borrowers to better afford the new loans.  Among the fees that will be reduced or eliminated are those for appraisals, title insurance, and closing costs.
  • Fees also will be waived for some underwater borrowers who are refinancing into 20-year or shorter-term loans.
  • HARP is only open to borrowers who are current on their payments for the past six months with no more than one missed payment in the past 12 months.  The loans must have been originally issued before May 31, 2009, and purchased by Fannie Mae or Freddie Mac.

Read the full story

Thinking of buying or selling?
For all your real estate needs
Email or call:

John J. O’Dell Realtor® GRI
(530) 263-1091
Email jodell@nevadacounty.com

Real Estate

Obama’s New Mortgage Plan To Help Homeowners


 

President Obama announced Monday a plan to ease eligibility rules for home owners who want to refinance to take advantage of ultra-low mortgage rates and lower their mortgage payments. The administration hopes that by broadening its requirements for the Home Affordable Program that about 1 million home owners will now be able to qualify.

Here are more details about the newly announced changes to the program:

What is HARP?

It’s a program started in 2009 that allows home owners to refinance their mortgages at lower rates without having to meet the typical requirement of having at least 20 percent of equity in their home to do so. Under current guidelines, many underwater borrowers have been ineligible for the program because their home values had to be no more than 25 percent below what they owed their lender. Also, some home owners were unable to afford the closing costs and appraisal fees to participate.

What’s changing?

Many of the extra fees to participate in the program have been waived, and home owners’ eligibility won’t be contingent on how far their home’s value has fallen.

Who’s eligible?

  • Home owners with loans backed by Fannie Mae or Freddie Mac can participate. (Home owners can visit: freddiemac.com/mymortgage or fanniemae.com/loanlookup to determine if their mortgage is owned by either).
  • Home owners must be current on their mortgage.

When will it take effect?

The changes could take effect by Dec. 1. HARP also is being extended through 2013 to allow more home owners the opportunity to qualify.

How successful will this be?

The administration hopes that by home owners being able to lower their monthly mortgage payments (with an average annual savings of $2,500 expected), they’ll be more likely to stay current on their mortgage and avoid foreclosure. Also, the administration hopes that it will then free up household money to start spending more on other things, which could provide an overall boost to the economy. However, the administration says it realizes that aiding the housing market requires much more than a refinancing plan.

“This is only one piece of a broader strategy to help the housing market,” says Housing Secretary Shaun Donovan. Donovan also notes federal efforts to help home owners who are delinquent on their mortgages and the unemployed.

Source: “A Guide to Administration’s New Mortgage-Refi Plan,” The Associated Press (Oct. 24, 2011)

 

 
Thinking of buying or selling?
For all your real estate needs
Email or call:

John J. O’Dell Realtor® GRI
(530) 263-1091
Email jodell@nevadacounty.com
 

nevada county fair

Contests, Costumes, and A Cupcake Walk at the Nevada County Fair 2011

 

By Wendy Oaks

The Nevada County Fairgrounds Foundation is hosting a costume contest at its Halloween event on Saturday, October 29, from 2 – 5 pm at the Nevada County Fairgrounds. The costume parade and contest will take place at 3 pm at the Main Exhibit Building, with prizes awarded following the contest.

There will also be games and treats for kids, face painting, and even a cupcake walk! A silent auction will be happening throughout the event. Hamburgers and hot dogs will be served and “Running for Cover” will provide toe-tapping live entertainment for all to enjoy. The Nevada County Narrow Gauge Model Railroad will be open for tours, and, weather permitting, Empire Carriage Company will provide carriage rides around the Fairgrounds.

Also at the event, Nevada Union students will also host several interactive booths, including face painting and a fun tractor booth. Chickens, cattle, lambs, goats, pigs, and horses will be on display in the mock farm setting; and the farm scarecrow will welcome children to a California agriculture experience. Don’t forget about the Pumpkin Chuckin’ event, which is a competition between Nevada Union and Bear River high school FFA students that involves catapulting pumpkins across the Fairgrounds grass area.

It’s all happening, rain or shine, on Saturday, October 29 from 2 – 5 pm at the Nevada County Fairgrounds. The cost is only $5 per person and includes food, treats, games and entertainment!  Tickets can be purchased on the day of the event at the Fairgrounds.

The Halloween Fun the Fairgrounds event is sponsored by Cirino’s at Main Street/Cirino’s Bar and Grill.  Visit www.NevadaCountyFair.com for information or call
(530) 273-6217.

Wendy Oaks
Publicist, Nevada County Fairgrounds
(530) 273-6217
wsoaks@gmail.com

Website: www.NevadaCountyFair.com
Facebook: Nevada County Fairgrounds

Nevada County Fair August 8 – 12, 2012
Draft Horse Classic September 22 – 25, 2011
Halloween at the Fairgrounds October 29, 2011
Country Christmas Faire November 25 – 27, 2011

 

Thinking of buying or selling?
For all your real estate needs
Email or call:

John J. O’Dell Realtor® GRI
(530) 263-1091
Email jodell@nevadacounty.com

 

 

nevada county fair

Costume Contest At Graveyard Ghoul-A At Nevada County Fairgrounds 2011

By Wendy Oaks

Join us for a ghoulishly good time at the Graveyard Ghoul-a at the Nevada County Fairgrounds on Saturday, October 29, from 8 pm to midnight. As part of the fun, there will be numerous costume contests, including one for the most original costume, one for the scariest/goriest costume, and one for the most humorous costume. Contestants will have a chance to win cash, as well as tickets to the annual Nevada County Fair and the Draft Horse Classic.

The event will feature dancing, and DJ Melo-D will be busy playing modern house music, hip hop, funky disco and new dance hits. He’ll also be taking requests at the event, so be prepared to dance to your favorite song! 

A bar will be available for beer and booooze, delicious food will be available, and fantastic door prizes will be given away, including gift certificates to Ben Franklin, The Bookseller, and Culture Shock Yogurt.

Tickets to the Graveyard Ghoul-a are $15 and can be purchased at the door. Parking is free. For your convenience, camping will be available.  Must be 21 years or older to attend.

Visit www.NevadaCountyFair.com for information or call (530) 273-6217.

 

Wendy Oaks
Publicist, Nevada County Fairgrounds
(530) 273-6217
wsoaks@gmail.com

Website: www.NevadaCountyFair.com
Facebook: Nevada County Fairgrounds

Nevada County Fair                          August 8 – 12, 2012
Draft Horse Classic                            September 22 – 25, 2011
Halloween at the Fairgrounds      October 29, 2011
Country Christmas Faire                  November 25 – 27, 2011

 

 

Thinking of buying or selling?
For all your real estate needs
Email or call:

John J. O’Dell Realtor® GRI
(530) 263-1091
Email jodell@nevadacounty.com

 

Real Estate

Looking To Buy A Home? Triggers For Rejection Of Your Loan


Last year, more than two million people were turned down for homes, according to federal data, often because the applicants didn’t meet certain lender requirements or because their applications were incomplete or otherwise problematic.  With lenders’ underwriting criteria becoming more rigorous in recent years, it’s important buyers know the most common triggers for mortgage-loan rejection.

  • Insufficient income: Lenders want to be sure borrowers can afford to make the mortgage payments.  Lenders typically look for at least a two-year track record of income, which could hurt those who have changed jobs recently.
  • Cloudy financial picture: Generally, total debt payments, including the mortgage, cannot exceed 45 to 50 percent of a borrower’s adjusted gross monthly income.  Overtime and bonuses are included only if the borrower has worked for the same employer at least two years, and has a history of receiving them.
  • Poor credit: Lenders typically reject applicants with FICO scores below 620.
  • Low appraisal: One of the predominant reasons buyers are turned down for home loans is because the appraisal on the property is too low.  A buyer may think he or she is purchasing a house worth $800,000, but if the appraisal comes in less than that, the lender will not loan the borrower the money.
  • Property problems: Sometimes issues turn up within a house, like a major repair or safety issue that needs to be addressed, before an application can be approved.
  • Information mix-ups: Approximately 12 percent of new mortgage applications were denied because of unverifiable information or incomplete credit applications, according to the Federal Financial Institutions Examination Council.

Read the full story


 

Thinking of buying or selling?
For all your real estate needs
Email or call:

John J. O’Dell Realtor® GRI
(530) 263-1091
Email jodell@nevadacounty.com