California at Bottom of National Homeownership Percentage with 55.9%
Interesting information on from DSNEWS.com about the nations homeownership percentages state by state. California tranked in the bottom 5 of the 50 United States...at 55.9%. The nations average is 66%...with West Virginia being at the top with 76.1% and Washington DC...
Bank of America Pushing Short Sales in their "Test" in Florida…Offering up to $20,000 Bounty
This breaking news from DS News... Bank of America is "testing" a short sale "test and learn" program in Florida with payments up to $20,000 to the succesful sale of a property sold via the Bank of America Short Sale program payable to the seller at close of...
Bank of America, JP Morgan Chase, Wells Fargo and Citi to Participate in HARP 2.0
Call it what it is...the only reason "the Big 4" are participating is to avoid hefty fines and punishment for selling "knowingly" bad loans to Fannie and Freddie... Of all the Government "Save our Housing" Programs... Home Affordable Refinance Program is probably the...
New and Improved HARP Home Affordable Refinance Program
The Federal Housing Finance Agency (FHFA) released details of a newly revamped Home Affordable Refinance Program(HARP) today, with the main feature being a lack of a loan-to-value (LTV) limit. Previously, the max LTV accepted under the program was 125 percent, meaning...
Wells Fargo Customers Win 1 Year of Free Mortgage Payments
If you're a current Wells Fargo Mortgage customer you can win up to $60,000 in mortgage payments for 1 year. All you have to do is: if you sign up for Wells Fargo Online and simply click through to your mortgage account if you sign on and view your mortgage account...
Bank of America and Citi on the Brink of Failing?
On the heals of Citi's announcement of $1Billion + losses this quarter...Bank Of America announces $2.24 Billion in losses. I think we all know the truth...these banks are insolvent. CEO's just can't admit it when they have failed. It would be a punishing blow to the...
Foreclosure Activity Sets New Record in Third Quarter
According to a recent report release by RealtyTrac, in the last quarter (July, August, September 2009) the US has experienced the highest foreclosure activity since RealtyTrac began reporting on the foreclosure market. Activity rose 5% over last quarter or 937,840...
Making Homes Affordable Short Sale Program …Harris Real Estate University
Tim Harris is always on top Short Sale Breaking News How does the proposed MHA Short Sale and Deed In Lieu program guidelines effect my Short Sale business? Recently, on another blog there was an article published that was misleading and (frankly) a little deceptive...
Bank of America/Countrywide Streamlining Their Short Sale Process
Say it ain't so... Bank of America/Countrywide are coordinating with an outside company REOTRANS to manage and streamline the Short Sale process. After months and months of crys and moans over the BofA short sale...we're getting news that there has been a grouping of...
California Associaiton of Realtors (CAR) is a Liar! There…I Said It!
"California's rollercoaster ride to end?" Let me preface...This is the title to the article just released by INMAN News...I'm not bashing Inman...it's just reporting a story. ******************** I am not a member of CAR for this very reason. CAR has been touting this...
California 21 Day Turn Around For Short Sales…Unfortunately NO
After a lengthy conversation with Senator Calderon's Representative's, California Senate Bill 306 was explained to be of use for Escrow and Escrow Officers to be able to have direct access to lenders to obtain timely Short Sale Pay Offs. Unfortunately, it is a...
Banks Promoting Short Sales As Alternative To Foreclosure
Finally, we are hearing the lenders/banks tell their clients there are alternatives to foreclosure! At a recent conference for real estate agents handling foreclosures the buzz word was Short Sales..... According to high ranking officials at Fanni Mae, Freddi Mac and...
Loan Modification Scam…California State Bar Releases Names of Attorneys Under Investigation
Wish I could say I'm Shocked....! Imagine that, more people preying on homeowners desperation to keep a roof over their families head. This time it's attorney's that are taking all they can from these unfortunate people. Hot off the press: The state bar of...
New Housing Crash Will Send Shadow Inventory Above 7 Million…Analysts Say
In a recent article in the Wall Street Journal, Analysts from Amherst Securities projected a come back of over 7 million new foreclosures. Which is 5.5 x's the amount as in 2005. The causes range from failed Loan Modifications, Legal wrangling, re-defaults of loan...