Riverside and San Bernardino County Rank in the Top 5 Foreclosure Rates
Among the nation’s 20 largest metro areas, the highest foreclosure rates were in Miami, Tampa, Chicago, Baltimore, and Riverside-San Bernardino, California.
California Residents: 140% or more Underwater…CalHFA to the Rescue
Today, CalHFA announced an exciting new change to their Principal Reduction Program, recognizing aloan-to-value ratio of 140% or higher as a “financial hardship.”
Fannie Mae Finds Fix for Incorrect Credit Reporting of Short Sales…Buy Sooner
Fannie Mae Fixing Their Wrong Credit Reporting for Short Sales
RE Brokers or Agents Not Allowed to Represent Both Seller & Buyer on FHA Short Sale
Housing and Urban Development (HUD) just released updates to Pre-Foreclosure Sales (PFS) or Short Sales for FHA backed mortgages. What does this mean? If you list your FHA backed mortgage for short sale, your listing broker or agent may not represent the buyer as...
Bank Foreclosures Set New Record In August…
Well, we certainly have felt the squeeze from major lenders NOT extending trustee sales...even in our active short sales... The reason comes as no surprise, as banks have allowed homeowners to "live rent free" due to the mass amount of homes mortgages that are in...
Unemployment,Under Water Loans,Shadow Inventory…Chase Predicts Housing Recovery In 2014
DC "HouseWives" Mary Schmidt Amons McLean, VA Home $2.35Million
When I think of any of the "HouseWives" shows..."class" is not always the first thing I think of...however, this home has so many subtle and elegant touches...it actually beckons "class". The use of White on White and highlights is a brilliant use of color in this...
John Wayne "The Duke"; Former Home On Market in Newport Beach for $2.2 Million
Get your macho on for a home once owned by America’s ultimate tough-guy, John Wayne. Listed for $2,263,000, you’ll see that the home is far from macho, if it ever was. Described as “Versailles style” by Lansner on Real Estate, Wayne’s former Newport Beach, CA home...
Absolutely Nothing to do with Short Sales or Foreclosures…All About Lifestyle Change
I guess one could say that a short sale or foreclosure could certainly be the reason for lifestyle change. For me, it’s the realization that my lifestyle…the way I function daily has changed. Yesterday, Kris and I had lunch with our daughter and grandson. Nothing...
Stopping Foreclosures and Short Sales if Homeowners Have Skin In The Game?
Earlier this week the Federal Housing Authority implemented a new program called the Short Refi, which I discussed on the Realty Check. It's a plan designed to give borrowers still current on their mortgages equity back in their homes, thereby reducing the chance that...
Short Sale up 27% in 2nd Quarter…Loan Mods Increase 24%
In this brief from the FHFA or Federal Housing Finance Agency released today... Foreclosure starts increased by 12% to nearly 275,100 Completed Foreclosures increased 15% to 112 Decrease in Loan Mod Failures i.e. going 60 days late after loan mod granted...less than...
Ricky Martin’s Golden Beach, Florida Home Listed for $18.9 Million
If you want to live la vida loca (“Livin’ the crazy life”), you can slip right into it, easily, if you buy singer Ricky Martin’s sweet Golden Beach, FL home because it’s back on the market for $18.9 million. Martin purchased this 9,882 sq ft Mediterranean-style estate...
Short Sales…Thoughts on Foreclosure Roulette…Failing Loan Modifications…Our Housing Market In Crisis
I think we are getting a glimpse of things to come...new buzz word for sure! Foreclosure Roulette. This article was front page of Huffington Post earlier today. Bea Garwood has been bracing for foreclosure since May, but she says she's been told three times to expect...
Series On Strategic Short Sales, Bank Of America's Matt Vernon Speaks Out..Businesses Do Strategic Short Sales…What Makes Homeowners Different?
This is fantastic news from Jack Schakett, Bank of America Senior Vice President for credit loss and mitigation strategies. A huge stumbling block for a homeowner doing a Short Sale is the fact that their lender may pursue a deficiency judgement. The government has...