There are many nuances to a short sale transaction and every short sale is unique. Therefore the short sale agent you choose can make or break the deal, so choose wisely. When researching for a short sale agent, experience is very important. Research your local market and see who has the other local short sale […]
Posts Tagged: Real Estate
Who Owns My Mortgage and Why Do I Need To Know?
Don’t be afraid to ask the customer service representative for your mortgage servicer who owns your mortgage. The owner, who is often referred to as the investor, might be different from the servicing company or bank that collects and processes your payments. Lenders often sell off the servicing rights, too. So it is very common […]
Stockton short sales coming together!
We specialize in pre-foreclosure short sales in Stockton in San Joaquin County and are finally finding that the banks willing to cooperate. We have established relationships with banks and mortgage servicers to process short sales. They cooperate with us because we save them money and get the done. Sellers list with us because short sales […]
Stockton Renters to Receive Landlord Foreclosure Notice
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 […]
Forbes Bayonets Stockton and Central Valley Real Estate
Each year Forbes magazine analyzes the 200 largest U.S. cities and ranks them into their ‘Top Miserable List’. This year, for the first time Forbes introduced housing as one of the criteria, in addition to the previous criteria which included unemployment, weather, taxes, traffic and violent crime. Stockton, in California’s Central Valley, was number one. […]
Slow and Uneven Market Recovery Forecast
According to the Bureau of Labor Statistics, around 8,000,000 jobs have been lost in the past few years causing our economy to be at its worst since the Great Depression. According to Ken Rosen, chair of the Fisher Center for Real Estate and Urban Economics at the University of California at Berkeley, only 1,000,000 new […]
Housing Regulators Plan New Fee System
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 […]
Bank of America Settles with Freddie and Fannie
Bank of America has settled with Freddie Mac and Fannie Mae for $2.8 billion to silence claims that the bank sold them faulty loans. Investors are typically entitled to repayment by the lenders if the loans were sold on the basis of false assurances. Since Bank of America’s acquisition Countrywide Financial, they have been particularly […]
Readers Rate Local Economy San Joaquin #2 Story of the Year
According to The Record readers, the local economy was the number two story of the year. One factor contributing to the overall economy was the housing market. San Joaquin county was number two in the nation for foreclosures in 2010 but housing prices remained relatively unchanged with an average home price of $181,000.
Advanced Mortgage Payments – To Pay Or Not To Pay
Download now or preview on posterous 11 30 10.pdf (60 KB) Generally speaking, when you make mortgage payments in advance, you can do one of two things. You can either apply extra payments to the principal, which will reduce interest costs over the life of the loan or you can apply extra payments against future […]
California October Foreclosures are Down
RealtyTrac, has reported that 66,475 properties foreclosed in California this October. That is down nearly 12% from September and 22% from last October. However even with the drop in overall reported foreclosures, Modesto and Stockton still remain in the top 5 cities nationwide for foreclosures. Although this downward trend has been consistent over the past […]
Home Sales Up in US but Down in CA – Lenders Partially to Blame
National home sales were up 10% this September according to the National Association of Realtors. Some factors contributing to this growth are low mortgage rates and high affordability, home prices are averaging 22% less of where they were five years ago. Affordability has been influenced by the weakness in home buying activity. September’s home sales […]
Federal Task Force Investigation into Foreclosure Fraud Could Lead to Criminal Charges
According to CNN, White House Press Secretary Robert Gibbs the Federal Housing Administration and Financial Fraud Enforcement Task Force are in the process of an investigation into foreclosure regulations and they will expect any bank that violated the law to be fully accountable for those actions. The Task Force is meeting on October 20, 2010 […]
New California Short Sale Deficiency Law
As of January 1, 2011, the first position lender will not be permitted to obtain a deficiency judgment against the seller after a short sale. The short sale approval letter and acceptance of the funds will constitute payment in full and discharge of the deficiency. However, these new changes will not apply to refinanced loans. […]
Stockton Credit Holds On – Know Your FICO and Vantage Scores
According to Experian the Stockton area currently ranks 79th out of 142 credit markets the company follows. This is optimistic news for the area which has been the real estate poster child for this recession with some of the highest foreclosure rates in the nation. Stockton with a current score of 744 is now just […]