Quick Foreclosure Market Update – Must Read
September 30, 2011 By Leave a Comment
Just thought this would be useful information for you all. This comes from RealtyTrak and Wells Fargo at the AREAA national conference in SF. This session is about the current REO market. In a nut shell the first wave of foreclosures in 2006-2008 were caused by the subprime loan market. This created the economic down [...]
The Year of the Short Sale: 7 Tips to Finding Your New Home at Discount
August 17, 2010 By Leave a Comment
RISMEDIA, August 17, 2010—Real estate professionals nationwide are calling 2010 “the year of the short sale,” where homeowners who owe more on their properties than what they are worth sell at deeply discounted prices—with the blessing of their lender. Here is how to go about successfully buying a short sale: 1. Search for short sale [...]
MAY 2010 CALIFORNIA FORECLOSURE REPORT
June 17, 2010 By Leave a Comment
Foreclosure filings, outcomes and inventories dropped across the board from April to May. Foreclosure filings also declined substantially year-over-year with Notice of Default filings down 43.3 percent and Notice of Trustee Sale filings down 35.8 percent. The only significant increases from the prior year were Cancellations, up 141.3 percent, Sales to 3rd Parties, typically investors, [...]
Financials on Short Sales Vs. REO’s
June 11, 2010 By 1 Comment
FINANCIALS ON SHORT SALE VS. REO’s: Lenders loss severities for properties sold through a short sale are 13-26% lower vs. loss severities for REO sales. In Addition, data shows that short sales cost bondholders about 1/2 the amount in fees and advances as REO sales, saving roughly $16,000 per sale. FIND ME ON FACEBOOK: http://www.facebook.com/CaliRealtor
HUNTINGTON BEACH, CA ~~~ Last Weeks Market Movement
May 18, 2010 By Leave a Comment
CA FORECLOSURE REPORT – MARCH 2010
April 14, 2010 By Leave a Comment
California Waives State Taxes on Forgiven Mortgage Debt
April 14, 2010 By Leave a Comment
Californian waives state taxes on forgiven mortgage debt for those who have sold their homes as short sales are allowed to exclude from taxable income the amount that was still owed to the mortgage company. The legislation also applies to homeowners who have received debt-reducing loan modifications. The new law allows most taxpayers to exclude [...]
BofA Completes More Than 12,000 Permanent HAMP Mods in a Month
April 13, 2010 By Leave a Comment
According to Bank of America’s monthly Home Affordable Modification Program (HAMP) progress report to the Department of Treasury, the Charlotte, North Carolina-based bank has completed nearly 33,000 permanent HAMP modifications, including more than 12,000 since the previous monthly report. As of April 8, 2010, 32,900 Bank of America customers had been placed into completed mortgage [...]