Santa Ana Discussion Thread

NEW -> Contingent Buyer Assistance Program
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NoWowway_IHB

New member
I have a soft spot in my heart for Santa Ana, so I wanted to have a dedicated thread for stuff that happens in RE there.



Here is a follow up story about Camille St. that was originally written up about a year ago. Today's headlines sport a home that a couple just paid $625K on Camille street that has been devastated by subprime loans. This home was bought on a street where the homes are arguably half that price. "Someone" kicked in $125k for the downpayment, the new owners got a loan for $500k and they got a promisary note for $30k to help with the first three months mortgage payments. The couple work as laborers at St. John's Knits and this is their second home.



<a href="http://www.ocregister.com/articles/camile-house-mortgage-2104411-fargo-wells"> http://www.ocregister.com/articles/camile-house-mortgage-2104411-fargo-wells</a>
 
and do you think the district attorney is going to do anything about this? from that article, it seems the whole street is full of fake buyers that are relieving the 'foreclosure experts' who went in early, of their debts.
 
I sure hope that couple can get their property taxes adjusted to the present FMV, or at least down to the taxes on the $460K that they essentially paid. The other thing I don't understand is if the loan docs are in English or Spanish. While these don't show your purchase agreement, they do clearly state the amount financed and the monthly payment on the loan. It would also state whether there was an impound account for the taxes and insurance. Who notarized this without them understanding the terms?



I thought Wells Fargo relied on real appraisals too. B of A, with their no fee mortgage plus, keeps all the closing costs to a minimum to save money. One of the areas they do this is by using an AVM for the appraisal. The property we recently purchased for $430K came back with an appraisal of $525K. The AVM's can't keep up with the rapid declines. The other property we bought for $350K back in Nov came back with a $470K appraisal via B of A's AVM.
 
These people are so desperate to be homeowners. They believe everything they are told and they are prime for scams. Those who have not gone into foreclosure are continuing to pay their outrages mortgage payments on gardener and nanny salaries. Our nanny purchased a home near Camile Street for $545,000 in 2005 despite my many objections. I honestly believe they should walk away but they continue to pay about $4000 per month NOT including property taxes and insurance. She now understands that this was a huge mistake, but they are stuck. The home would sell for no more than $300,000 today, if that. I'm really not sure what to say to her because they don't have a chance in hell of refinancing, even with the upcoming government intervention. They are eventually going down, the loan resets next year. This is a very honest and hardworking woman and her husband (and of course a few other family members living with them and helping with the bills). Any of you have any ideas? I'm honestly all out.
 
If Art wins, it will be interesting to see what he actually DOES. Up until now, all he is able to do is complain, so I'd vote to give him a chance.
 
[quote author="tmare" date=1217231563]These people are so desperate to be homeowners. They believe everything they are told and they are prime for scams. Those who have not gone into foreclosure are continuing to pay their outrages mortgage payments on gardener and nanny salaries. Our nanny purchased a home near Camile Street for $545,000 in 2005 despite my many objections. I honestly believe they should walk away but they continue to pay about $4000 per month NOT including property taxes and insurance. She now understands that this was a huge mistake, but they are stuck. The home would sell for no more than $300,000 today, if that. I'm really not sure what to say to her because they don't have a chance in hell of refinancing, even with the upcoming government intervention. They are eventually going down, the loan resets next year. This is a very honest and hardworking woman and her husband (and of course a few other family members living with them and helping with the bills). Any of you have any ideas? I'm honestly all out.</blockquote>


what would you do if you bought a car in 2005 for 100k and now the 2008 car is for sell for 20k. what would you do?
 
[quote author="tmare" date=1218088392]If Art wins, it will be interesting to see what he actually DOES. Up until now, all he is able to do is complain, so I'd vote to give him a chance.</blockquote>


I think it would be awesome for him to have the opportunity to put his money where his mouth is. From his writing, it certainly appears that he could use an up close and personal understanding of how city government works - especially when the city's day to day business is run by the City Manager and other bureaucrats and the city council only sets policy and priorities. That man is so fact-challenged I've given up.
 
<em>Up until now, all he is able to do is complain, so I?d vote to give him a chance. </em>



Yes, I would do the same. I have no idea how he would do his blogging thing and be part of the council. This may be practice elsewhere, but I don't think I've ever heard of an elected rep running commentary on the net during their tenure.



I loved how one of the challenger hopefuls was disqualified b/c she was not registered to vote. Doh! :gulp:
 
Art is WAY too dismissive of US law to ever qualify for elected office. He routinely labels anyone opposing illegal immigration as "Mexican haters" and openly calls for defiance of immigration laws. He is also quite the race-baiter, routinely making fun of Vietnamese politicians based on racial charateristics - just look at his blog posts. NOT a good candidate for City Council.
 
[quote author="jbatzmaru" date=1218091025][quote author="tmare" date=1217231563]These people are so desperate to be homeowners. They believe everything they are told and they are prime for scams. Those who have not gone into foreclosure are continuing to pay their outrages mortgage payments on gardener and nanny salaries. Our nanny purchased a home near Camile Street for $545,000 in 2005 despite my many objections. I honestly believe they should walk away but they continue to pay about $4000 per month NOT including property taxes and insurance. She now understands that this was a huge mistake, but they are stuck. The home would sell for no more than $300,000 today, if that. I'm really not sure what to say to her because they don't have a chance in hell of refinancing, even with the upcoming government intervention. They are eventually going down, the loan resets next year. This is a very honest and hardworking woman and her husband (and of course a few other family members living with them and helping with the bills). Any of you have any ideas? I'm honestly all out.</blockquote>


what would you do if you bought a car in 2005 for 100k and now the 2008 car is for sell for 20k. what would you do?</blockquote>


Trade it in and have them lump the difference into the new lease.
 
[quote author="no_vaseline" date=1218105294][quote author="jbatzmaru" date=1218091025][quote author="tmare" date=1217231563]These people are so desperate to be homeowners. They believe everything they are told and they are prime for scams. Those who have not gone into foreclosure are continuing to pay their outrages mortgage payments on gardener and nanny salaries. Our nanny purchased a home near Camile Street for $545,000 in 2005 despite my many objections. I honestly believe they should walk away but they continue to pay about $4000 per month NOT including property taxes and insurance. She now understands that this was a huge mistake, but they are stuck. The home would sell for no more than $300,000 today, if that. I'm really not sure what to say to her because they don't have a chance in hell of refinancing, even with the upcoming government intervention. They are eventually going down, the loan resets next year. This is a very honest and hardworking woman and her husband (and of course a few other family members living with them and helping with the bills). Any of you have any ideas? I'm honestly all out.</blockquote>


what would you do if you bought a car in 2005 for 100k and now the 2008 car is for sell for 20k. what would you do?</blockquote>


Trade it in and have them lump the difference into the new lease.</blockquote>


Ok, I understand the analogy, I don't think that works here
 
[quote author="tmare" date=1218105591][quote author="no_vaseline" date=1218105294][quote author="jbatzmaru" date=1218091025][quote author="tmare" date=1217231563]These people are so desperate to be homeowners. They believe everything they are told and they are prime for scams. Those who have not gone into foreclosure are continuing to pay their outrages mortgage payments on gardener and nanny salaries. Our nanny purchased a home near Camile Street for $545,000 in 2005 despite my many objections. I honestly believe they should walk away but they continue to pay about $4000 per month NOT including property taxes and insurance. She now understands that this was a huge mistake, but they are stuck. The home would sell for no more than $300,000 today, if that. I'm really not sure what to say to her because they don't have a chance in hell of refinancing, even with the upcoming government intervention. They are eventually going down, the loan resets next year. This is a very honest and hardworking woman and her husband (and of course a few other family members living with them and helping with the bills). Any of you have any ideas? I'm honestly all out.</blockquote>


what would you do if you bought a car in 2005 for 100k and now the 2008 car is for sell for 20k. what would you do?</blockquote>


Trade it in and have them lump the difference into the new lease.</blockquote>


Ok, I understand the analogy, I don't think that works here</blockquote>


Why not? Always worked before.



Okay, you got another option.



I knew a guy when I was just out of high school who bought a Ford Festiva, and decided he needed a different new car. He was upside down on the car, so he took it to a rural area, dumped a gallon of gas in the dash area, and sparked it up. For the record, I've never owned a Festiva (hell, I currently own every vehicle I've ever had title to) and I didn't know he did it untill many years later. Still, hey, options yo.....
 
Yes, we've all read about those who are torching their homes. Picture yourself, a low income worker with little education who was suddenly told they could buy a house. This has previously only been a pie in the sky dream for you. Suddenly, someone says "Hey sign these papers and you can own a house". Granted, there is a serious lack of intelligence and knowledge on the part of the buyer. But now they own the house and are struggling every day, every minute to make the payment, and they have been making it for three years. Now you realize your stupidity and that the house is worth half of what you paid, what do you do now? Walk away, never be able to buy a house again? Continue to pay until the very likely foreclosure that is coming a few years down the road? What do you do? I don't really want joke answers, although they can be funny. I also don't need anyone who has no desire to be empathetic with the people, because they are actually real live people.
 
These salt of the earth, working class people are going to get a first class education on how the foreclosure process works. They don't stand a snowballs' chance in hell of paying the note on this home. It sucks, but you have to let them lose it and emotionally cut bait on this situation.



Not every problem has a happy solution. And nobody feels bad for the garbage man.
 
[quote author="tmare" date=1218109066]Yes, we've all read about those who are torching their homes. Picture yourself, a low income worker with little education who was suddenly told they could buy a house. This has previously only been a pie in the sky dream for you. Suddenly, someone says "Hey sign these papers and you can own a house". Granted, there is a serious lack of intelligence and knowledge on the part of the buyer. But now they own the house and are struggling every day, every minute to make the payment, and they have been making it for three years. Now you realize your stupidity and that the house is worth half of what you paid, what do you do now? Walk away, never be able to buy a house again? Continue to pay until the very likely foreclosure that is coming a few years down the road? What do you do? I don't really want joke answers, although they can be funny. I also don't need anyone who has no desire to be empathetic with the people, because they are actually real live people.</blockquote>




get a lawyer and renegotiate the loan term. if it is in santana then they have a good chance of getting it approve since it is so bad there. if you need more info pm me and i will give you info. lawyer will charge about 1% of the loan for the help and guarantee that if it doesn't get fix then you get your money back.
 
Well, it looks like Mr. Pedroza is getting serious. This should be intersting to see how "easy" it is for a citizen to enter the world of politics un/successfully. Here is his press release:





<em>PRESS RELEASE - FOR IMMEDIATE RELEASE



August 6, 2008



Orange Juice Blog founder pulls papers for Santa Ana City Council



SANTA ANA - Art Pedroza, the editor of Orange County's first political blog, pulled campaign papers today to challenge incumbent Carlos Bustamante for the Santa Ana City Council seat in Ward 3. He founded the Orange Juice Blog in 2003, which now has a dozen writers. His popular political site averages almost 900 visits per day and won OC Weekly's Best Blog of 2007 Award. It celebrated its fifth anniversary this July, and has surpassed 1.2 million page views.



Pedroza graduated summa cum laude from the University of Phoenix with a Bachelor of Science in Business Management. He also has an MBA from the Keller Graduate University of Management and is a Don Bosco Technical Institute graduate.Pedroza is currently an adjunct instructor at Cerritos College, where he has taught since 2003. He is a member of the American Federation of Teachers, Local Number 6251.



Pedroza is the President Elect for the Orange County Chapter of the American Society of Safety Engineers. He is also an active member of the National Safety Council and both the American Bio Recovery Association and the Association of Professionals in Infection Control.



Pedroza's opponent, Carlos Bustamante, recently resigned from two state commissions after Orange Juice and other local blogs reported that he had been caught making a pejorative but sexist remark about new Orange County Sheriff Sandra Hutchens and urged State Senators to vote against his appointment. Bustamante infamously suggested to Santa Ana Police Chief Walters that he perhaps should have 'had boobs' or 'worn a water-bra' to curry favor with County Supervisors after Hutchens, OC's first female Sheriff, was selected to replace indicted former Sheriff Mike Carona.



Pedroza has previously served honorably on two Santa Ana City Commissions: the Santa Ana Public Library Board and the Housing and Redevelopment Commission. Pedroza is also a graduate of the Santa Ana Chamber of Commerce Leadership Program and has completed the Pew Foundation's Civic Entrepreneur Initiative. He is a member of the Santa Ana CERT (Community Emergency Response Team) Team, which is affiliated with both the Santa Ana Police Department and the Santa Ana Fire Department. He is a former president of Santa Ana Neighborhood Housing Services and has served two terms on the Communications Linkages Board, overseeing the City's neighborhood associations. He has been active in both the Artesia-Pilar Neighborhood Association and the Park Santiago Neighborhood Association.



Pedroza has been a constant critic of the current Santa Ana City Council. He opposed Measure D which extended City Council terms, as well as Measure G which rewarded the inept SAUSD board by appropriating them additional funds. He also opposed the two water rate increases that the City Council passed in the past ten months and has repeatedly criticized City Administrators for the lack of public libraries in such a large city.



Pedroza resides in the Park Santiago neighborhood of Santa Ana with his wife of 21 years, Camille, and his four children.



Pedroza's campaign website is available athttp://artpedroza.com/. The Orange Juice Blog is available athttp://orangejuiceblog.com/.



###</em>
 
Speaking of the library, I don't understand why Santa Ana doesn't join in the County system. Of course, the new libraries the County has built lately have been funded by Mello-Roos taxes. So, if Santa Ana did it that way, at least Art could blame the voters and not the politicians.



And I also now understand why Mr. Pedroza believes it is a conflict of interest for a city council member to sit on a board of directors for a bank: He does not understand banking or business.



I really appreciate his passion and his desire to muckrake in place that certainly needs it. I just wish that he would listen more, and educate himself more, before he talks. There are lots of legitimate issues he could fixate on, but it appears that he chooses the ones where there is no there there.
 
[quote author="EvaLSeraphim" date=1218149276]Speaking of the library, I don't understand why Santa Ana doesn't join in the County system.



I, too, wonder the same thing. I sent my son to Tustin Summer Day Camps (another things Santa Ana doesn't have) and they sent home the application for the library card. I filled it out and he received a letter with all of the events at the County Libraries along with his new card within one week. Why does Santa Ana have to be so screwed up, especially when the kids are so needy. You would think that if they wanted to handle things themselves, they would do them better than the County. Instead we get nothing.
 
The Library issue has always baffled me, too. My instincts say that somehow, someone's friend/relative/business is benefiting from the city running the library and a half in SA.



There are so MANY issues in SA, that I have no idea what the biggest ones would be to focus in on. Pedroza is a DTS guy, so I am not sure if that will work for or against him. Bustamante is a goof, so maybe that will be all that is necessary to get him replaced. Art is very opinionated, but I have noticed, that he can be persuaded into considering the other side of the argument and has changed his stance after further study. I don't think he's hopeless, but I do know what you are talking about.



They have an update, and it looks like there are several candidates: http://orangejuiceblog.com/2008/08/santa-ana-city-council-ward-3-campaign-update/#comments



the biggest problem with Santa Ana is that it is a club of the few who "have", administering, or actually NOT administering, services and programs to people who have very little clout, even less education and absolutely no resources. I was shocked at the lack of cohesive bargaining that the school district employees had. Hundreds of them lost their jobs. Many of them are citizens of SA.
 
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