Are Banks Dumping Short Sales For Less Lucrative Foreclosures?

Posted by & filed under Foreclosures, Short Sales.

Are banks purposely rejecting short sales in favor of less profitable foreclosures? Maybe so, but why? Some say it may be for reasons such as avoiding fraud or favorable accounting rules allowing banks to foreclose on a home without having to write down a loss until that home is sold as opposed marking the loss […]

Over a Quarter of All 2010 Home Sales Were Foreclosures

Posted by & filed under Foreclosures, Stockton Real Estate.

According to RealtyTrac 26% of all home sales last year were foreclosures. In the Stockton area 72% of sales were bank or government held and 50% were REOs. Short sales accounted for 22% of all Stockton homes sold last year. Leaving 28% that were not bank or government related sales. For more information on the […]

Stockton Renters to Receive Landlord Foreclosure Notice

Posted by & filed under Foreclosures.

Over a thousand Stockton renters will receive notice this week that their landlord may be facing foreclosure. Almost half of Stockton’s foreclosures are rental properties. All renters should know their rights and not let banks and real estate agents push them into moving out until they have exercised those rights. According to Federal law a […]

Man Sentenced for Stockton Flipping Scheme

Posted by & filed under Foreclosures, Stockton Real Estate.

Iftikhar Ahmad received a 21-month prison sentence and was ordered by U.S. District Judge William B. Schubb to pay restitution of $382,750 and spend three years under supervision upon his release from prison. Ahmad bought up Stockton foreclosures often paying cash, then sold those same homes to fake buyers using false identities. The subprime loans […]

Government to Decrease Financial Involvement in Freddie and Fannie

Posted by & filed under Central Valley Real Estate, Foreclosures.

The Obama administration has announced a ‘winding down’ of financial involvement in Fannie Mae and Freddie Mac at an annual rate of no less than 10% per year. Timothy Geithner predicts it will take three years for the housing market to recover. Then, an additional two to three years for legislators to come to agreement […]

Stockton 2nd in California for January Foreclosure Filings

Posted by & filed under Central Valley Real Estate, Foreclosures.

RealtyTrac’s list of metro markets with the highest foreclosure rates from December to January, was full of California cities holding 7 of the top 10 spots. The cities included Modesto (2), Stockton (3), Riverside-San Bernardino-Ontario (4), Vallejo-Fairfield (6), Bakersfield (7), Merced (9) and Sacramento-Arden-Arcade-Roseville (10). The monthly increase in California was only 2% however the […]

Central Valley HUD Photo List

Posted by & filed under Foreclosures, Stockton Real Estate.

Download now or preview on posterous CA – Central Valley HUD Photo List 2-4-2011.pdf (665 KB) View all the HUD owned homes in the Central Valley! Call Your Home Team at 209-471-6516 to view any homes for sale. Search Stockton area homes for sale at www.homes-in-stockton.com and Manteca area homes for sale at www.homes-in-manteca.com!

Housing Regulators Plan New Fee System

Posted by & filed under Foreclosures.

U.S. housing regulators plan to impose a new fee system and standards for mortgage servicers by mid 2012. The Federal Housing Finance Agency instructed Fannie Mae and Freddie Mac to work with the Department of Housing and Urban Development in order to find ways to improve mortgage servicing for borrowers. They proposed imposing a service […]

San Joaquin County 8th in AP Economic Stress Index

Posted by & filed under Foreclosures.

Download now or preview on posterous 12 14 10.pdf (22 KB) Ten of the twenty most economically stressed counties in the nation are in California according to the Associated Press. San Joaquin ranks eighth followed by Stanislaus and Merced respectively. High foreclosure rates and continued unemployment contributed to the San Joaquin ranking. The ranking is […]

Bank of America Restarting Foreclosures

Posted by & filed under Foreclosures.

Download now or preview on posterous 12 09 10.pdf (85 KB) Bank of America has restarted 16,000 foreclosures but it is still unknown if  judges will be satisfied with their assessment of the pending files. Other banks such as Wells Fargo and Chase have also attempted to restart their foreclosures.  The approach focuses primarily on […]