Very Spacious 2 bedroom 2 Bath NE Facing Livermore Home on Large Lot–Open Saturday 8/17 & Sunday 8/18 1-4

1348 Tulip Way, Livermore, CA 94551

Open Saturday 8/17 & Sunday 8/18 1-4

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az_0019Check out the details and pics for this great property

Great property that will be made even better before close of escrow! Pest, Home & Roof Inspections done. Seller will put on a new roof and clear section 1 prior to close of escrow at this price or higher! VA, FHA, and Conventional loans acceptable. Others may be considered as well.

Very spacious North East facing single story 2 bedroom, 2 bathroom, possible 3 bedrooms, 1583 square feet open floor plan Springtown Livermore home with expanded master bedroom with retreat, bath with jetted soaking tub, and a huge family room addition all done with permits. Separate living and family rooms places at East and West sides of the home create a very open feel and lots of natural light through dual pane windows. Tastefully remodeled & updated kitchen with island, lots of cabinets, and includes all appliances. Kitchen opens to the dining area & huge family room addition. The private backyard retreat has a covered patio, metal gazebo, open space, private deck off second bedroom, fire pit & several sitting options. The separate living room & dining area combo with the expansive family room, updated kitchen, and large master bedroom and bathroom on a large low maintenance lot makes this a wonderful home to entertain or simply play or relax. The extra wide driveway, dog run area, two storage sheds & extra long one car garage with workbench, shelves, and utility sink along with a washer and dryer top off this wonderful home. Fresh interior paint, new carpet and 1 year old HVAC system allow you to move right in and add your own updates and touches later! HOA is only $360 annually, not monthly, & includes a community pool you don’t have to maintain! So Much Room to Entertain, Play, Relax & Enjoy. This is a great place to call home!

 

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Non-Borrowing Spouses on Reverse Mortgages May Be Able to Stay in Home After Borrowing Spouse Dies

FHA Mandate Allows Non-Borrowing Spouses to Remain in Their Home

When seniors are tight on money, they often turn to a reverse mortgage to help ease their finances. In cases where only one spouse is 62 or older, lenders will often still do the reverse mortgage and the non-borrowing spouse usually has to sign the loan document acknowledging the mortgage is being taken out. What many borrowers and non-borrowers don’t realize is that this will leave the non-borrowing spouse without a place to live once their spouse who got the loan dies! In my opinion, this should NEVER have been allowed to be the case. People in distress are turning to Reverse Mortgages for help only to have one of the spouses, the younger one, set-up to become homeless should the older spouse die first. I would argue that people who sign these loans are doing so under duress because they need financial relief and the lender is telling them that the only way they can get the loan is to get it without the younger spouse since that person is too young to qualify.

The good news is that FHA appears to have realized this terrible situation and it has tried to alleviate it with a mandate they put out in 2015 which states that Non-Borrowing Spouses on Reverse Mortgage May Be Able to Stay in Home After Borrowing Spouse Dies! Mortgagee Letter 2015-15 is the document that may help keep eligible non-borrowing spouses from being foreclosed on.

According to the Reverse Mortgage Daily, this change came about from many years of litigation of non-borrowing spouse plaintiffs.

As One Reverse Mortgage summed it up, “Certain eligible non-borrowing spouses may avoid foreclosure thanks to the new guidelines released by the FHA on Friday, June 12. According to the new guidelines, as released in Mortgagee Letter 2015-15, when a borrower passes away, a lender may choose to foreclose the home or use a Mortgagee Optional Election Assignment (MOE). The MOE further defers the repayment of the reverse mortgage for the non-borrowing spouse. In other words, non-borrowing spouses may have the opportunity to stay in their homes after their loved one’s passing.”

Of course, there  are criteria that have to be met for the Mortgagee Optional Election Assignment for Home Equity Conversion Mortgages (HECMs) with an FHA Case Number assigned prior to August 4, 2014

For cases that involve an Eligible Non-Borrowing Spouse and the FHA Case Number was assigned on or after August 4, 2014, there are additional eligibility criteria.

I am not going to kid you, the process is not as simple as just filling out a form. You may have to speak with a lender or someone else to help you make sense of all the terminology in the letter and to help you compile the packet you will need to submit, but don’t let that keep you from doing what needs to be done so you can keep your home. Think of it as compiling the information you would need to get a loan for your house because that is what it is. The task may seem daunting, but just take it step by step and you will get through it and hopefully come out with the mortgage assigned to you when you get to the end of the process.

Here is a link to an article by National Mortgage Professional Magazine to tell you more about it.

Hopefully in the future, they will allow currently “too young” spouses to be part of the Reverse Mortgage from the beginning so we don’t have people in these terrible situations.

 

Robin Watson-Bird, Ph.D. is a seasoned California Real Estate Broker and REALTOR based in Livermore CA who serves most of the Greater Bay Area and parts of the Central Valley.

Beautiful 3/2 Hillcrest Knolls Listing in San Leandro-Open This Saturday & Sunday 1-4

Check out my listing in San Leandro that just hit the market. Don’t wait on this one. Priced at $650,000, it will likely go very quickly. Offers are due Tuesday, July 3, by noon! Come by the open houses this week end, Saturday & Sunday 1-4. My partner Andrea Madonna Saunders will be holding it open.

http://robinwatsonbird.com/listings/0,128120/2070-Joan-Dr-San-Leandro-CA-94578/

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Listing Agent Robin Watson-Bird, Ph.D., Broker, Realty World-No Pressure Realty

Meet Tom Nygaard, Store Manager of Livermore Wheel Works-Tires and Automotive Care

Check out the interview I just posted on my Livemore neighborhood Parkbench website. It is with Tom Nygaard, the Store Manager for Wheel Works here in Livermore. What a down to Earth and great guy. If you need a mechanic (not just tires) who cares about you and your car, take the time to read my interview and see if Livermore Wheel Works sounds like the place for you. I have taken my car there since I moved to Livermore 13 years ago…as soon as they opened.

https://parkbench.com/blog/wheel-works-livermore-livermore-tom-nygaard

Tom Nygaard, Store Manager at Livermore Wheel Works
Tom Nygaard, Store Manager at Livermore Wheel Works

Looking for People Who Serve the Livermore Community to Interview for New Livermore Community Site

Attention Livermore Residents and people who serve the Livermore Community. I am looking to Interview people who serve the awesome folks of Livermore or in some way help make our city a better place to live. For example, business owners or great staff of businesses or schools, teachers, principals, long time Livermore residents, people with great yards or gardens, people who host annual or other events in Livermore, or even people who just make your day a little brighter when you see them (maybe that awesome barista or server, etc.). You name it. I love Livermore and want others to learn more about our great community so I am sponsoring a community website where people can go to learn about local news, events, businesses, get local coupons or deals, etc. There is no cost to the people I Interview and feature on the site and in fact, once someone is featured, they can add additional information about them or their business as often as they like, add coupons, post events, whatever will help them in what they do. I am just getting started building out the site and beginning the interviews, so if you would like to request an interview go to https://parkbench.com/livermore/interview

The sign-up page says business, but is for anyone who would like to be interviewed. If you know someone whom you think should be interviewed, feel free to pass this along.

If you would like to check out the site and watch it grow, visit http://parkbench.com/livermore