Home Foreclosures Near 6-year Low
Home Foreclosures
RealtyTrac Inc. reported today that the US housing market is on track to finish the year with the fewest homes repossessed by lenders in the last six years!
Last month lenders 36,964 homes, this was down 31% from July 2012! Home foreclosures are projected to be approximately 490,000 this year, although the sound like a lot, it’s actually down approximately 27% from last year’s totals. Read more 
Home Foreclosures Drop To 2007 Levels
Home Foreclosures Drop
Just reported today: According to foreclosure-data firm RealtyTrac the number of homes getting a foreclosure filing, hit a 49-month low in December, as legal issues, documentation delays and weak housing demand all served to stall the processing of mortgage delinquencies. Read more
Home Foreclosures Likely to Rise
Banks have stepped up their actions against homeowners who have fallen behind on their mortgage payments, setting the stage for a fresh wave of foreclosures. Read more
Home Foreclosures
San Diego real estate – home foreclosures
San Diego real estate
Being in the trenches … the front line of local San Diego real estate activity, it’s hard for me to believe that we just passed through the “Summer of recovery” at least it was according to this administration’s proclamations.
Although many of the real estate reports for San Diego indicate that sales have increased last month, they also show that home prices have continued to fall. The sales increase in my opinion can be totally attributed to normal seasonal factors. What is really troubling, is the fact that during our seasonally strong traditional marketing period which just ended last month, home prices in San Diego were still in decline. Read more
Home Foreclosures 51% of California Home Sales
home foreclosures
Home Foreclosures
The foreclosure listing firm RealtyTrac Inc. said in a report today that home foreclosures accounted for 31 percent of the market in the second quarter of 2011. The good news was that this was a smaller share of sales when compared to the previous quarter. Unfortunately this percentage of home foreclosure sales is approximately six times the amount that would be seen in a normal housing market! Read more
Real Estate Short Sale
short sales
What is a short sale? To put it simply, a short sale transaction is a sale of a property in which the outstanding debt (in the form of mortgages – such as purchase loans, refinance loans, home-equity loans, or one of the various other types of loans secured by your property) was more than the price for which the property was sold. Example: 1st and 2nd mortgages totaled $470,000.00 and the property was sold for $325,000.00. The sale price was $145,000.00 “short” of the amount that the seller had originally borrowed – thus the term “short sale.” Since the banks/lenders were essentially paid back less than what you borrowed, you could be deemed to have received a debt “forgiveness” of $145,000.00. A sale of this type requires bank/lender approval. Read more
Bank of America To Resume Foreclosures
bank foreclosures
Bank of America announced it reviewed its process for resubmission of foreclosure affidavits in the 23 judicial states with key stakeholders and has begun the process of preparing foreclosure affidavits for submission in 102,000 foreclosure actions in which judgment is pending.
Bank of America also said it will continue to delay foreclosure sales in the remaining 27 states, including California where the vast majority of foreclosures are non-judicial and conducted without a court order, until its review is complete on a state by state basis.
The bank anticipates that over the course of the temporary moratorium, less than 30,000 foreclosure sales will have been delayed.
El Cajon real estate
Why Pay Your Mortgage – Live Payment Free
home foreclosures
Yesterday, members of Congress from California wrote to the heads of the Justice Department, the Federal Reserve, and the Comptroller of the Currency, requesting that they investigate the foreclosure processes of banks under their purview for “possible violations of law or regulations.”
Seems California liberals are pushing to let defaulted homeowners stay in their houses right now, rent free!
I don’t think it’s too outrageous of a prediction to imagine picking up a paper years from now and read about a few people in California, Florida or Vegas who haven’t paid their mortgage for seven years.
El Cajon real estate
U.S. Foreclosures Up 75%
Home foreclosures have continued to dramatically increase in 2010.
According to a new report from RealtyTrac, foreclosure filings climbed in 75% of the nation’s metro areas during the first half of 2010. At a time when the Obama administration believes that we are “turning the corner”, things just seem to get even worse.
httpv://www.youtube.com/watch?v=hQc9argJPKk&feature=related
San Diego Lasik eye surgery
Home Affordable Foreclosure Alternatives
San Diego condominium
Government Sponsored Enterprises (GSE) Fannie Mae and Freddie Mac last week released guidelines for implementing the Treasury Dept.’s Home Affordable Foreclosure Alternatives Program (HAFA). The new guidelines apply to loans owned or guaranteed by the GSEs; servicers are required to implement the new policies no later than Aug. 1. Read more