http://www.trulia.com/profile/dianewheatley/The latest answers submitted by Diane Wheatley, Broker to questions asked on Trulia Voicesen-ushttp://www.trulia.com/voices/Financing/I_ve_been_trying_to_Modify_for_mo_s_w_Indyma-187842Answer by Diane Wheatley, Broker: I have an excellent resource for you to contact. No obligation and no cost. I know your situation is very common and can be dealt with. Please feel free to call my office and speak with Danny. We will do whatever we can to help you. Diane Wheatley, Broker diane@moveupproperties.comWed, 30 Dec 2009 16:59:44 PSThttp://www.trulia.com/voices/Home_Selling/i_am_supposedly_six_days_from_closing_escrow_on_an-183171Answer by Diane Wheatley, Broker: The pipe bursting should not burst your escrow too. As long as you are comfortable with the insurance company's method of correcting the leak and all that it entails, I don't see how it could affect your escrow closing. It's not like you aren't going to purchase the home now that this issue occurred. Transfer of title in your case is not an arms length transaction or considered a standard sale by a seller to a buyer. As long as nothing affects your title interest in a derogatory manner, you are good to go. Diane Wheatley, Broker diane@moveupproperties.comSun, 6 Dec 2009 00:12:37 PSThttp://www.trulia.com/voices/Home_Selling/In_midst_of_personal_crisis_we_quit_claimed_house_-181973Answer by Diane Wheatley, Broker: Have you talked to your lender regarding a short sale? Explain the situation to them. Tell them that you have an equitable interest in the property and can no longer risk that the mortgage payments will be made as they are not being paid by you. Ask them what you alternatives are. What if you simply turn your back and walk away? Yes, you are ultimately responsible for the loan but your mom holds the possessory interest which is the other side of the value to the bank. Hence, a foreclosure action would affect all of you. Your case is similar to the fraud cases we read about all the time. Where an unsuspecting homeowner is duped into turning over their title interest without really understanding what it is that they are doing. I don't know how your relationship is with your mother but she has cheated you out of your right to a fee simple ownership interest in a home that your current title and bundle of rights is now severed. You need to speak to a real estate attorney before you do anything further. Maybe this quit claim deed can be voided if you can prove that it was signed under false pretenses or fraudulent circumstances. I'm sorry for you. What a horrible position to be in. I wish I could help you further. You will get through this though. If there is anything I can do, please do not hesitate to let me know. Diane Wheatley, Broker diane@moveupproperties.comMon, 30 Nov 2009 06:15:12 PSThttp://www.trulia.com/voices/Home_Buying/I_am_buyer_waiting_to_close_escrow_on_a_condo_Our-180015Answer by Diane Wheatley, Broker: It depends upon the verbiage in your purchase contract and escrow instructions/amendments to the contract. If you have a "drop dead" date of November 4th in your purchase contract with terminology such as buyer and seller agree to close escrow on or before November 4th or either party has the right to cancel then I would say yes you have the right to your deposit. If November 4th is a "target" date with no specific consequences if escrow should continue on past that date due to various approval processes, etc. then you may jeopardize your deposit in the event you cancel. Talk with your Realtor and look over your contract. If you are still unsure, contact a real estate attorney for professional advice. Good luck! Diane Wheatley, Broker diane@moveupproperties.comThu, 19 Nov 2009 09:44:00 PSThttp://www.trulia.com/voices/Home_Selling/What_do_you_do_if_your_realtor_does_not_send_your_-178959Answer by Diane Wheatley, Broker: Sorry that you are experiencing such unprofessional behavior from your Realtor. Unless he/she is the managing broker for the agency you hired to list your home, you should definately contact the broker and insist that your personal items be returned to you immediately. If that does not work, have your home rekeyed. That would be the safest bet at this point, regardless if you get your key back or not. Good luck to you. Diane Wheatley, Broker diane@moveupproperties.comSat, 14 Nov 2009 19:10:14 PSThttp://www.trulia.com/voices/In_My_Neighborhood/How_is_it_to_live_in_area_-177227Answer by Diane Wheatley, Broker: Lovely. Etiwanda is rural and beautiful. Why do you ask? Diane Wheatley, Broker diane@moveupproperties.comMon, 9 Nov 2009 01:03:51 PSThttp://www.trulia.com/voices/Home_Buying/In_California_can_I_use_the_first_time_home_buyer-125696Answer by Diane Wheatley, Broker: Yes, However you must close escrow on the purchase of the home within the time frames outlined by the IRS. It appears as though the tax credit will be extended to April 2010. Your purchase escrow must close prior to the that date. This is not to be confused with the construction financing. This is the actual take out financing once the home is completed and you have a certificate of occupancy. Someone may want to verify this information to be accurate but that is how I understand it. Good luck! Diane Wheatley, Broker diane@moveupproperties.comFri, 6 Nov 2009 23:01:29 PSThttp://www.trulia.com/voices/Home_Buying/When_putting_in_an_offer_on_a_home_and_there_is_an-173813Answer by Diane Wheatley, Broker: That's interesting. And you are right to be concerned and questioning that action. When your original agent came back from out of town you wrote your offer using her representation. Then you state that this substitute agent is the same agent that that reviewed your offer before it was submitted. That part I'm confused about. Either way, if your agent knew of information that could potentially harm your ability to purchase a home, such as sharing proprietary information to the detriment of the client, then it could be defined as unethical. Your agent has a fiduciary responsibility to represent you in an honest, ethical and loyalty all in good faith and in your best interest. Is it allowed? No. Does it happen? Yes. But you must understand that your agent wants to be paid a commission and that is not going to change even if another agent was privy to your offer. If you truly want this house then you write the highest and best offer and know that it will be presented to the seller by your agent in a timely and effective manner. All you can do is your best and soon enough you will prevail in your home buying efforts. Good luck to you.. Diane Wheatley, Broker diane@moveupproperties.comFri, 23 Oct 2009 17:40:20 PDThttp://www.trulia.com/voices/Financing/I_am_looking_to_buy_a_house_in_hopefully_a_a_good_-172255Answer by Diane Wheatley, Broker: I have a seller who is a standard sale ready to list his home in Victorville. Beautiful Empire Home built in 2006 and the owner has not used the kitchen appliances to this day! Just like brand new. He will be asking $170-180,000 and will accept VA. You may also want to the check with the several new home builders in the area. They have no trouble with VA financing either. Let me know if I can be of any further assistance. Enjoy the opportunity to help. Diane Wheatley, Broker diane@moveupproperties.com (909) 981-5400Sat, 17 Oct 2009 17:37:04 PDThttp://www.trulia.com/voices/Home_Selling/What_are_the_grounds_for_a_buyer_default_in_a_shor-170831Answer by Diane Wheatley, Broker: I certainly agree with the fact that you are in the wrong forum to gain expert advice pertaining to your situation. Yes, you need an attorney. However, I can offer you this based on your story. If you read the short sale addendum carefully it states that either buyer or seller may cancel the purchase agreement if either party is not satisfied with the lender's terms of approval. Even after waiting all that time and obviously behaving as if they were truly motivated and qualified to move forward with the purchase of your home, the buyer can still elect to cancel based on what the lender's final terms are. But because they acted as if they were still going to purchase your home by moving into it under the premise that they would own it was not behaving in good faith with the spirit of the contract. Four months after your original acceptance in May would make it a September occupancy date, I assume. Your biggest issue now is removing those people from your home if you are to sell it before a foreclosure proceeding should occur. They are damaging you every day that they remain in the home as your market time continues to run out. I don't believe that anyone has the right to prevent you from the necessary actions you must take in order to successfully sell your home without the threat of foreclosure. Those people may be in for a rude awakening as far as the amount of damage they are causing you. Five thousand and back rent is nominal in comparison. Good luck and I'm so sorry for you. Diane Wheatley, Broker diane@moveupproperties.com (909) 981-5400Sun, 11 Oct 2009 15:32:18 PDThttp://www.trulia.com/voices/Home_Buying/If_I_want_to_buy_a_foreclosed_home_-170833Answer by Diane Wheatley, Broker: Dear George, I believe that you need to find yourself an agent that has worked with REO properties and can anticipate the various needs of the lender and listing agent. Of course there are always going to be a unique circumstance as with every deal that your agent will need to adjust to but experience in the foreclosure market can only be a benefit to you. With the ebb and flow of the foreclosure market along with the changing of the rules each lender requires, etc. I know that I would rather be represented by an agent that can provide me with a truthful status as we go along rather than a doubtful one. No matter who you choose, please remember that purchasing a foreclosure property can be a stressful, uncertain and competitive process. If you try to keep your expectations to a minimum and not ask for anything that is considered "too much" by many lenders, you will be in a lot better place with yourself and in the long run. If you begin to ask yourself why is this happening or why are they doing that? You may be fighting a system that is not meant for you. Go with the flow George and if the going gets to rough then you can always bail out. I do wish you all the best in your house hunting. It can be very rewarding when it's all said and done! Good luck! Diane Wheatley, Broker diane@moveupproperties.com (909) 981-5400Sun, 11 Oct 2009 15:11:47 PDThttp://www.trulia.com/voices/Agent2Agent/How_do_I_know_if_a_house_is_in_short_sale_Are_the-169977Answer by Diane Wheatley, Broker: Dear Aida, Laurel and Diana are right on in their answers to you. And, yes be careful about relying on the MLS for accurate information regarding the fact that it is a short sale. Call the listing agent and check your property profile carefully to gauge what is owed on a home in relation to its value. Your question sounds as if you are interested in short sales to the point of acquiring a separate interest all together for short sale properties. You must know that short sale listings are nearly more trouble than what they are worth for all involved. It is a known fact that a short sale does not provide the seller with any substantial benefit opposed to allowing the property to revert back to the bank through a trustee sale. Short sales take incredible amount patience, time and resources that buyers typically don't have time for. They just can be a lose-lose for everyone in the long run creating a huge amount of frustration and a waste of time. I would tell you to either jump in with both feet and learn ALL the ropes, variables, each lender's own rules of negotiations, days upon days of phone calls, record keeping and dedication necessary to become as savvy to the practice as reasonably possible while continuing to roll with the changes these lenders continually employ or better yet, step aside and look out for a different niche in today's real estate market. I would think that many agents would agree with me. If there is something I'm missing here, please feel free to jump in and straighten me out! Is there a rewarding career in short sales? Diane Wheatley diane@moveupproperties.com (909) 981-5400Thu, 8 Oct 2009 10:13:01 PDThttp://www.trulia.com/voices/Foreclosure/Can_bank_sell_house_on_forclosure_when_they_have_d-168835Answer by Diane Wheatley, Broker: Unfortunately this happens more frequently than we may think. It certainly does not make any logical sense when it appears that the lender would receive more money by selling the property though a short sale and not incurring all the foreclosure expense involved. It sounds as if one department doesn't know what the other department is doing. You cannot ever take the bank's word on their date scheduled for trustee sale. Always be sure to contact the trustee directly for up to date information on the scheduled sale date. Many times the lenders don't know that a sale date is on the calendar unless someone points it out to them. This occurs most often with BAC for one. You can be going along thinking that you are waiting on the bank's final approval only to receive a phone call from the REO listing agent asking that all marketing efforts be relinquished to them due to the recent foreclosure sale. Surprise! Bottom line is that in most circumstances it is legal, yet very frustrating and confusing. So sorry. Diane Wheatley, Broker diane@moveupproperties.comWed, 7 Oct 2009 02:04:12 PDThttp://www.trulia.com/voices/Foreclosure/I_am_a_tenant_in_a_recent_foreclosed_home_that_was-169406Answer by Diane Wheatley, Broker: Please be sure to check with legal counsel on this but my understanding is that a month to month tenant is entitled to 90 days to vacate as you stated without the obligation to pay monthly rent. There are additional statues that provide for a tenant who is under an existing lease agreement to serve out the remainder of that lease agreement provided that the new owner of the property does not intend on occupying the premises. There are more details involved in these situations, so please check with local authorities. Good luck! Diane Wheatley, Broker diane@moveupproperties.comWed, 7 Oct 2009 01:55:22 PDThttp://www.trulia.com/voices/Home_Buying/FHA_amp_appliances_We_are_trying_to_close_on_-169391Answer by Diane Wheatley, Broker: Unfortunately, yes. This is a more and more common situation among vacant properties. I just closed one last week where the same thing happened. The final approval was contingent upon the appraiser's statement that the appliances are installed. In my case, the buyer fronted the money to do this as they had waited so long for this home and knew it was a great opportunity for them. They were "forced" to take the risk as no other party to transaction would consider it. Luckily and fortunate for them, they successfully closed and the transaction is closed. I had already committed to paying a portion of their closing costs for them so I had no remaining funds to front the money for these appliances too. It was like being put between a rock and hard place. But you do what you need to do for the right home however unconventional it is. Good luck to you! Diane Wheatley, Broker diane@moveupproperties.com (909) 981-5400Mon, 5 Oct 2009 21:26:55 PDThttp://www.trulia.com/voices/Property_QandA/Is_the_La_Serena_condo_community_FHA_approved_-168925Answer by Diane Wheatley, Broker: Great link Laurel ! Thanks for sharing. Diane Wheatley, Broker diane@moveupproperties.comSun, 4 Oct 2009 14:14:41 PDThttp://www.trulia.com/voices/General_Area/where_is_the_most_desired_area_of_upland_-168844Answer by Diane Wheatley, Broker: As a fellow Uplander with a child that attended the Upland Unified School District all 12 years, I can offer you my personal opinion. My professional opinion is not appropriate and it is always a good idea to do your own research on the school systems. Talk to friends and family in the area, contact the school district directly for testing scores, classroom sizes, distinguished school awards, etc. North Upland tends to be more desirable specifically within the Peppertree and Valencia elementary school districts. Both of those schools attend Pioneer Jr. High located in a very nice area of North Upland as well. Upland has just one high school. My daughter currently attends there as a Senior this year. I've been very pleased with the academic curriculum offered in Upland and feel that my daughter was able to achieve top honors in her school years allowing her to attend a fine college next fall. Check my website for links to the local area school information and testing score details. Best of luck to you. If I can be of any further assistance, please contact me anytime. Diane Wheatley, Broker diane@moveupproperties.com (909) 981-5400Sat, 3 Oct 2009 19:47:18 PDThttp://www.trulia.com/voices/Foreclosure/do_I_have_any_recourse_because_I_was_not_given_a_t-168128Answer by Diane Wheatley, Broker: I am not a real estate attorney by any means but I have a lot of experience with this subject. I believe you could contest the trustee sale if you were not provided constructive notice. Not to say that this will not be a difficult issue to prove to a court. You obviously received constructive notice of your default typically in three forms. By a registered mail, us parcel post mail to your address and your attention and again to your last known address attention occupant. When a trustee sale is made public a notice stating the date, time and place where the sale shall take place will be posted on the property in full view (typically on the front door), delivered via registered mail and again regular mail. The sale information is to be published in the local periodicals for certain period of time as well for all to see (if they are looking). If you were not made aware of the pending sale date in any manner provided to you under the law of the state of California then you could contest the sale's validity and possibly have it rescinded. When were you finally made aware of that the sale occurred? Consult with a real estate attorney for more guidance on how to proceed if you are set on contesting this. You have the right. Good luck, Diane Wheatley, Broker diane@moveupproperties.com (909) 981-5400Thu, 1 Oct 2009 19:24:29 PDThttp://www.trulia.com/voices/General_Area/What_exactly_is_meant_by_quot_backwater_quot_loc-166837Answer by Diane Wheatley, Broker: I believe it suggests that the water adjacent to the property is subject to raparian rights. Every riparian owner is entitled to the benefit of the water in its natural state. Whenever, therefore, the owner of land dams or impedes the water in such a manner as to back it on his neighbor above, he is liable to an action; for no one has a right to alter the level of the water, either where it enters, or where it leaves his property. I can't see how this issue would relate to the suitability of the water for swimming. If something is creating backwater then that would infer that the water would be higher than it is in its natural state hence, a bit deeper for swimming. Check with the Realtor or owner for further clarification. Good luck! Diane Wheatley, Broker diane@moveupproperties.com (909) 981-5400Sat, 26 Sep 2009 00:20:26 PDThttp://www.trulia.com/voices/Home_Buying/A_bit_complex_question_for_K_first_time_home_buye-166658Answer by Diane Wheatley, Broker: I took this information directly from the California Association of Realtors Legal Q&A for you. It states the following: You are not eligible for the tax credit if the taxpayer owned another main home at any time during the three years prior to the date of purchase. For a married couple filing a joint return, this requirement applies to both spouses. For example, if the taxpayer bought a home on Sept. 1, 2009, the taxpayer cannot take the credit for that home if he or she owned, or had an ownership interest in, another main home at any time from Sept. 2, 2006, through Sept. 1, 2009. In conclusion and in answer to your question, I would take this to mean that you would need to file separate returns in order for you to receive any benefits from the tax credit. But only if you are to purchase a residence and close escrow before the Nov. 30th deadline and prove that you have not held an ownership interest in any home for the three years prior to the purchase. You will need to calculate the difference between what you stand to gain by filing jointly with no tax credit vs. filing separately and receiving the tax credit. The limit is $4,000 for a married person filing a separate return. Please confirm all this information with your tax advisor before making any decisions. Good luck to you! Congratulations on your engagement and pending wedding! Diane Wheatley, Broker diane @moveupproperties.com (909) 981-5400Sat, 26 Sep 2009 00:09:46 PDThttp://www.trulia.com/voices/Financing/Short_sale_will_it_go_faster_if_I_get_a_loan_from-150807Answer by Diane Wheatley, Broker: You would certainly think so! But unfortunately the answer typically is no. If the home is held by Wells Fargo, Bank of America and the like it will make no difference to the loss mitigation department that you are using financing with their company. My suggestion would be to just be persistent in your communications, or through your broker as an authorized third party. Be patient and hold tight. If your offer matches the offer the bank already accepted then you know you are in the ball park if not rounding third base ready to slide in to home base. The bank is not waivering over your offer but most likely reviewing the financials submitted by the seller for the most recent paystubs, tax returns, bank statements to verify if they would need to order the seller to sign a promissory note or not. (I hope not). This part of the short sale is really out of your control. Just try to hang in there and be ready when they say "GO"! Good luck to you... Diane Wheatley, Broker diane@moveupproperties.com (909) 981-5400 Lived in Dana Point a few years ago and will be back to stay one day. Enjoy!Mon, 21 Sep 2009 00:43:02 PDThttp://www.trulia.com/voices/Financing/if_the_mortgage_companies_doc_s_say_the_quot_pu-163826Answer by Diane Wheatley, Broker: I am Broker in California and can only provide you with information regarding this statute as it is defined in California. In our state a purchase money loan is a monies received at the initial close of escrow for the sole purpose of purchasing the primary residence. Even with a second deed of trust that was established for the remainder of the down payment needed such as an 80/20 loan, the second would be considered purchase money. A refinance or money taken out of the property after the original purchase of the home may be defined as a recourse loan where a lender could sue for a judgment to collect through wage garnishments, bank levies, etc. or the lender could provide you with a 1099 for the amount that you would need to claim as income on your tax return for the year you received it. What you want is a full release of lien from the lender stating that they will not attempt to collect on the debt now or any time in the future. Many borrowers will file BK to eliminate the threat of this happening. All banks are different and all states are different in their own detailed way. Your question is best answered by the experts who are trained professionals and better equipped to answer these critical questions. Consult a real estate attorney and a tax accountant for a more definitive answer to your question. And, good luck to you. Diane Wheatley, Broker diane@moveupproperties.comMon, 14 Sep 2009 23:31:07 PDThttp://www.trulia.com/voices/Foreclosure/Has_anyone_dealt_with_Wachovia_bank_re_REO_proper-53775Answer by Diane Wheatley, Broker: I am currently involved with Wachovia Bank in a short sale negotiation and it is like a breath of fresh air in today's real estate market. Now if other lenders would follow their lead, we'd all be in a better place. Typically, short sale transactions are more cumbersome and time consuming that an REO transaction because in a short sale the lender does not HAVE to cooperative to a successful closing at all. In this transaction Wachovia Bank provided me with the list of items they needed to review a short sale offer minutes after my first phone call. I supplied the items they requested immediately and within three (3) days I had an approval! Not only did I have an approval, Wachovia Bank offered me an incentive of 7% commission if I could close within 45 days or sooner and they paid for all the necessary repairs needed to the home amounting to an additional $1,500. No problem. Wow! Now my only obstacle is getting Wells Fargo to speed up their loan process in order to close this home within the 45 day period. Wells Fargo is slower than a sleepy man walking with lead shoes. Diane Wheatley, Broker diane@moveupproperties.comSat, 12 Sep 2009 13:31:03 PDThttp://www.trulia.com/voices/Home_Buying/i_m_moving_to_the_Etiwanda_area_of_Rancho_Cucamo-154886Answer by Diane Wheatley, Broker: The only issues that come to mind for the Etiwanda area are the winds, possible traffic noise from the 15 & 210 freeways and the mello roos taxes. Other than that, it is a lovely rural location to settle in. As you head further east such as the Etiwanda area you'll find that you can get a bit more bang for your buck. The homes are typically newer and the shopping and schools are award winning. The winds can be very strong but on average you'll find strong winds about 12-14 days a year. But don't quote me on that. I'm just offering you the general consensus among other homeowners and business owners in the area. The mello roos taxes are assessed on a tract by tract basis. Meaning that not all homes in Etiwanda have this additional tax assessment. But it is a definite issue you must be aware of. And finally, the freeway noise/pollution is only an issue for those homeowners who may be within too close a proximity to its location. Just another issue to be aware of. Good luck on your home search. If I can be of any assistance, don't hesitate to contact me. I've been in the area selling homes for nearly 20 years now. It's my job to help buyers and sellers like you. Have a great day! Diane Wheatley, Broker diane@moveupproperties.com (909) 981-5400Fri, 28 Aug 2009 23:39:46 PDThttp://www.trulia.com/voices/Foreclosure/Why_would_a_Wamu_send_a_realtor_to_offer_us_money-158914Answer by Diane Wheatley, Broker: Clarification? Is Deutsche Bank your first trust deed and WAMU is your second? Which one filed the unlawful detainer action? In my experience with this type of situation it is not usual for the second to proceed with a foreclosure action unless they stand to gain a majority of their interest back. Are you saying that a Realtor associated with WAMU offered you cash for keys on behalf of Deutsche Bank? And if so, why didn't they make the offer prior to filing the unlawful detainer action? I'm a bit confused. Can you elaborate? Willing to help you with a bit more clues..... Diane Wheatley, Broker diane@moveupproperties.com (909) 981-5400Fri, 28 Aug 2009 23:27:43 PDT