Real estate market analysts have been hard at work crunching the latest round of numbers but what does it all mean? Wednesday the news looked optimistic for San Joaquin when it was reported that the area experienced a second quarter decline in foreclosures despite the fact that Stockton still remained 96th in the nation for […]
Posts Tagged: Foreclosure
Tracy, CA, REO Tracy Home for Sale & Tracy Real Estate, 2657 Spencer Ct, Tracy, CA ,95377
Download now or watch on posterous 2657 Spencer Ct_Tracy_ CA_ 95377.mp4 (4812 KB) For information on this and all the Stockton homes for sale visit www.Homes-In-Stockton.com! Great Tracy REO & Home for sale in one of Tracy’s most desirable neighborhoods! Kitchen boast granite counters and tile floors. Open staircase and floor plan. Built in entertainment […]
Legal Chart Quick Reference for California Deficiency Judgments
Download now or preview on posterous California Deficiency Judgements.pdf (55 KB) The attached document provides a quick reference to assist distressed sellers in determining if a lender would have the right to collect on a deficiency resulting from foreclosure in the State of California. It is intended only for reference. I recommend strongly that a […]
Could This Be The End of Short Sales?
Download now or preview on posterous 08 11 10.pdf (71 KB) Keep your eyes on the news August 17th when the Treasury will be holding a hearing regarding the future plans for Fannie Mae and Freddie Mac. It is rumored that the Obama administration is about to order the government-controlled lenders to forgive a portion […]
Foreclosures up Nationally but Down in California
Download now or preview on posterous US foreclosures.pdf (138 KB) Nationally banks repossessions are up 38% in the second quarter from a year ago. However, California foreclosures are down 24% from last year. It appears that the banks are purposely holding California homes back from foreclosure in order to avoid flooding the market but this […]
Stockton, CA, REO, Foreclosure, Brookside, Stockton Home for Sale & Stockton Real Estate, 4235 Annandale Drive, Stockton, CA, 95219
Download now or watch on posterous 4235 Annandale Drive_Stockton_CA_95219.mp4 (12240 KB) For information on this and all the Stockton homes for sale visit www.Homes-In-Stockton.com! Great Stockton foreclosure! Investment opportunity in a great location! This home needs some TLC. Separate Family Room and Formal Dining Area. Master bath with shower stall and separate tub. Dock in […]
Are Loan Modifications and Short Sales Decreasing or Delaying Foreclosures?
Download now or preview on posterous 06 16 10 Santa Clara.pdf (85 KB) Santa Clara County has seen an annual decline in foreclosure notices for the past consecutive six months. Yet, Foreclosure Radar reports that these types of declines don’t make any sense. They speculate that lenders may be holding on to the foreclosure inventory […]
Fannie Mae Foreclosure Prevention
Download now or preview on posterous 06 08 10.pdf (16 KB) Fannie Mae unveiled the details of their upcoming version of the Making Home Affordable Foreclosure Alternatives (HAFA) program which takes effect August 1, 2010. The purpose is to serve those borrowers who are eligible for a loan modification under the Home Affordable Modification Program […]
First Quarter Foreclosure Jump
California had more than 216,000 foreclosure filings with the most of any state at 23% of the nation’s foreclosures one for every 62 homes this past quarter. First quarter 2010 foreclosure filings rose 7%, to more than 930,000, over last quarter a 16% increase over last year. Just when you thought it was safe: Foreclosures […]
Foreclosure Numbers Down, But For How Long?
According to the February 15th story in Property Wire US property foreclosure figures easing, defaults are down 12% from December but stayed 4% above levels in January 2009. Foreclosures are down 11% from December and remained 15% above levels in January 2009. However if the market does what we expect and stays consistent with the […]
Sac Bee Exclusive: Region’s shuttered stores tell a thousand stories
An empty shell occupies 9,500 addresses across the Sacramento region %u2013 one closed business for every six still open, according to a Bee analysis of U.S. Postal Service data. That’s more dormant businesses than in 17 entire states, including Utah, Arkansas and New Mexico. You can see it on Madison Avenue in Fair Oaks, where […]
CA Foreclosure Law – Civil Code 2924
Download now or preview on posterous CA Foreclosure Law – Civil Code 2924.pdf (104 KB) We process more Stockton short sales than any other short sale agent in the Central Valley. We receive numerous requests for information on the California foreclosure process. A copy of CA Foreclosure Law – Civil Code 2924 follows. Please call […]
California $1M-Plus Home Sales Drop 24%: DataQuick « HousingWire
Monday, February 8th, 2010, 2:41 pm Million-dollar home sales continue to decline in California, as price declines are bringing homes below the $1m threshold and hesitant buyers have yet to return to the market, according to property data provider MDA DataQuick. A total of 18,621 California homes sold for $1m or more last year, down […]
10 steps to ‘short sale’ buying
Bobbi Dempsey one of the authors of “The Complete Idiot’s Guide to Buying Foreclosures” blogs on the following list: 10 steps to short-sale homebuying 1. Identify potential short sales. 2. View the property. 3. Do your research. 4. Find all liens and mortgages. 5. Figure out the financing. 6. Contact the lender. 7. Complete the […]
Short Sale Fraud
In the recent article posted by Karl Denninger entitled New Short Sale Fraud Allegations: Second Liens, The subject of fraud with short sale subordinate lien holders is discussed. Unfortunately since second lien holders frequently, get 10% or less, they often request funds off the HUD to be brought in by real estate agents or the […]
Short Sales are Risky for Homebuyer Tax Credit
In the article titled Homebuyer-Tax-Credit-Deadline-Freezes-Out-Short-Sales By Steve Cook at Real Estate Economy Watch, Mr. Cook discusses the unpredictable and lengthy nature of short sale transactions. In particular, he focuses on the inability to rely on a short sale timeframe to guarantee qualifying for the Homebuyer Tax Credit which requires that a buyer be under contract […]
2nd position lenders knowingly commit fraud
The Short Sales and Bank Fraud story continues to gain traction. After CNBC aired the story we brought them, dozens of other media outlets, bloggers and authorities have contacted me to discuss this topic. Here is the story of how this fraud initially came to our attention, along with the evidence to back it up. […]
How will a Stockton short sale or loan mod affect your FICO score?
I receive many questions from potential Stockton short sale sellers regarding the impact of short sales, loan modifications and late pays on their FICO scores. The San Francisco Examiner published an article regarding the subject. Worth checking out. View article… Posted via email from www.Homes-In-Stockton.com Posterous
CNBC.com Article: Big Banks Accused of Short Sale Fraud
Big Banks Accused of Short Sale Fraud – Just as regulators, lawmakers and all forms of financial oversight boards are talking about new regulations to guard against mortgage fraud and another mortgage meltdown, there appears to be yet a new mortgage fraud out there today, allegedly perpetuated by agents of, yes, the big banks. For […]
The Second Mortgage Challenge
In order to do a short sale the second lien holder must also agree to the terms of the sale. This is even more challenging than with the first lien holder, since there usually isn’t much left to gain for the second in line. Obama’s administration has tried to encourage second lien holders into the incentive […]
Four Common Mistakes Made by Short Sale Buyers
So often buyers say they don’t want to get involved in a short sale because they believe short sales always fall apart. However when one explores why short sales so often fall apart they are likely to find the buyer frequently plays a significant role. Sure, one can argue that there are difficult lenders who […]
Build Your Ark, the Short Sale Flood is Coming
The Home Affordable Foreclosure Alternatives Program or HAFA will not only effect how lenders manage short sales as I have previously mentioned in the December 17, 2009 post, it will demand that all lenders who operate under HAMP offer short sales to any failed loan modification attempts who are eligible. With the current numbers at […]
The Next Wave – Luxury Short Sales
A recent Bloomberg News article reports first time home buyers were aided this past year by an $8,000 tax credit that raised resales to a 6.1 million annual pace in October, the highest since February 2007 according to the NAR. Last month President Obama extended the program for another year for first time buyers and […]
Foreclosure and Short Sale Tax Implications
The Mortgage Debt Forgiveness Act of 2007 and the Emergency Economic Stabilization Act of 2009 provide tax relief for debt forgiven through a short sale or foreclosure. In the Internal Revenue Code Section 108, discharge of qualified debt from the purchase of a principal residence can be excluded from income if the discharge occurs in […]
Streamlined Shortsales? Really? Hey, I Have This Bridge For Sale…
Buyers and sellers unfamiliar with the short sale process always ask if there is anything that can be done to speed up the short sale process. As I have mentioned before, there are new and improved rules that have just been formed to streamline the short sale process that will go into effect April 5, […]