Bank Of America Starts Principal Reduction.. Forbearance In The Mix….
In a recent article, Bank of America "Circles the Wagon" on principal reduction....Lot's of "May" and "If"....nothing about how much principal "May" be written down...Until we get more information....here you go! Bank of America said it has initiated its new earned...
California Assembly Bill 1639 Requires a Foreclosure Mediation Mortgage Workout Program or "MMW"
You know...the more we read about CA the less I am concerned that we are the litigious state that we have the esteemed label of being. Lot's of new laws hitting the Halls of Sacramento for consideraton...laws that have already been in place in many other states...
California Senate Bill (SB) 1275 Passed This Week More Protections for Homeowners
This new bill will protect home owners facing foreclosure on their Single Family residence by: Making it mandatory for mortgage servicers, mortgage companies and banks to file a "declaration of compliance" stating that they have followed the CA state foreclosure laws....
Shadow Inventory Up 9.1% in 1st Quarter 2010 from Last Quarter 2009
This information is hot off the press...Thanks to the fine folks at Housing Wire... According to SNL Financial and Morgan Stanley Foreclosed Properties...Increased to $41.5 in Q1 '10 up 12.4% from previous quarter. Shadow inventory up 9.1% in Q1 '10 to $78.6 BILLION...
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