Download now or watch on posterous 3450 Quail Lakes Dr_Stockton_CA_95207.mp4 (9944 KB) For information on this and all the Stockton homes for sale visit www.Homes-In-Stockton.com! Not a REO or Short Sale property. Beautiful home with stunning views of Quail Lakes. Formal living room with vaulted ceilings fireplace and wet-bar. Master suite upstairs with fireplace and […]
Posts Tagged: Short Sales
Stockton Real Estate Market Report May 2010
May 2010 Stockton Area Market Update Short Sale? Foreclosure? Strategic Default? Underwater borrowers are often in a quandary about what to do. It’s been reported that 70% of borrowers whose homes are foreclosed upon never contacted their lender. Lenders prefer short sales. Foreclosure sales not only typically cost more, but also result in lower […]
Mortgage Bankers Association does a short sale of their D.C. office building!
The MBA would like you to continue paying on your underwater home while they walk away from their obligation. The hypocrisy continues. Click here to watch the video. Posted via email from www.Homes-In-Stockton.com Posterous
Miracle Short Sale Solution or Infomercial Gimmick?
A new short sale infomercial campaign will run in the Western United States. Starting in mid-May with a 60 second commercial (Real Help Today) soon to be followed by the launch of a 30-minute infomercial. The infomercial is being produced by We Save Homes, Inc. and Stardust Broadcasting. We Save Homes, Inc., who also offers […]
Despite Positive Reports Some Areas Still Suffer With Negative Equity
This week the media reported that US foreclosures have started to slow down, stating that across the nation filings were down 2 percent from April of last year. Despite this optimistic national trend there are still areas losing equity and remain at risk. According to Where Americans Are Losing Home Equity Most Nevada and Florida […]
Servicers Taking Steps to Prevent Short Sale Fraud
As short sales are significant in foreclosure prevention, fraud concerns abound. Appraisal fraud to flipping, the short-sale process poses several possible areas of fraud where the servicer must take preventative action. Included but not limited to the following: – Focus on making sure it’s an arm’s-length transaction – Search deeds on a regular basis – […]
Senate Bill 401 = No More Debt Tax
Senate Bill 401 has been enacted into law. The new California state income tax on debt forgiven in a short sale, foreclosure, or loan modification will be treated much like the federal law up through 2012. The existing federal exemption allows $2 million, and the new California exemption allows for $800,000 and forgiven debt up to […]
DRE Issues Short Sale Alert
The Central Valley Business Times reported yesterday that the California State DRE issued an alert regarding short sales. Read the article here. The DRE cautioned against the following: • In some instances, the homeowner may be sued by the lender/bank for the money that was “forgiven” • The amount not paid back, which is a […]
Struggling Homeowners Can Take Steps to Save Credit
If you’re a struggling homeowner, remember the safest option is always to keep making your mortgage payment. However, if you can’t pay, try to work with the government’s foreclosure prevention program. If that doesn’t work, consider all of your potential options and the affect each one will have on your credit scores before making a […]
Bank of America Offers Principal Reduction for Riskiest Loans
via mortgageorb.com BA’s recent announcement may be too little too late and not be available for the majority of Central Valley Homeowners. We do not expect the number of Stockton foreclosures and Stockton short sales to be decreased dramatically. Stay tuned! Posted via web from www.Homes-In-Stockton.com Posterous
Wondering if you are eligible for a HAMP loan modification?
I receive many calls from homeowners wondering if they are available for the HAMP program. Click here to visit the HAMP web site and take the test to determine eligibility. Posted via email from www.Homes-In-Stockton.com Posterous
Californians State Tax Consequences for Mortgage Debt Forgiveness Still Undecided
Many California residents that have lost homes do not realize the State has not yet followed the Federal Government in providing tax relief on the short sale, deed in lieu and foreclosure deficiency. Click here to read the full story. Pat Holkesvig & Your Home Team process more Stockton Short Sales, Tracy Short Sales, Lodi […]
February Notice of Defaults up almost 20% in California
The housing market in California continues to have record numbers of foreclosures. View article…
Factors to Consider When Determining if now is the Time to Buy Real Estate
I think prices may still decrease by 10 – 15% as REO and short sale inventory increases and the number of first time home buyer transactions decrease. The higher end could see even higher adjustments as the result of increasing distressed sales. 5 & 7 year ARMs are resetting in bulk this year and next. […]
Is the California Housing Market Different from the Rest of the Country?
Interesting article on housewire.com regarding California’s “innovative” mortgage products. Click here to read the full story. Posted via email from www.Homes-In-Stockton.com Posterous
Check with an attorney before pursuing a short sale prior to filing bankruptcy
We always recommend speaking with an attorney prior to pursing a short sale. This is especially true if you are considering filing for bankruptcy. Bankrate.com recently answered a reader’s questions regarding the subject. Visit http://www.bankrate.com/finance/debt/a-short-sale-followed-by-bankruptcy.aspx to see the full article. Call us at 209-471-6516 if you are interested in discussing buying or selling a short […]
$1000 to the 1st, $1000 to the 2nd and $1500 to the home owner walking away………
The Obama administration’s latest attempt to address the housing crisis will fall SHORT in my humble opinion. $1000 to the 2nds will not make a difference. Many 2nds are placed for collection. The collection companies are generally unresponsive and very demanding. An extra $1000 is not going to satisfy them. Read the full story at […]
Automated Short Sales – The Answer To Slow Approval Times?
This last month, Equator started an agent initiated short sale platform. So far, Bank of America is the first lender encouraging use of this automated program. The initial response is positive although it is cumbersome to input the file data on the front end, once the data is entered the process starts rolling. Eliminating the […]
February 2010 Stockton Area Housing Market Update
Foreclosure Activity In California Is Up As reported at DSNews.com, ForeclosureRadar, a locally based company that tracks every California foreclosure on a daily average basis, reports foreclosure activity here increased last month. The number of foreclosures that went back to the bank rose 29.4 percent, those sold to a third party rose by 62.7 percent, […]
Banks Plan to Clear Books By Turning To Short Sales
Now short sales are growing at a faster rate than foreclosures and most economists expect the distressed home market to have a 5% increase in the number of short sales this coming year. That expectation combined with the fact that banks generally lose 20% more on a foreclosure than a short sale make it no […]
Housing Market Turnaround Up To Banks
People are buying up short sales and foreclosures at the expense of conventional sales and if the housing market is ever going to recover, the banks need to get short sales closed at a much quicker pace. The average short sale length in some communities has increased to 298 days and even up to a […]
Banks Have No Control Over Collections Process
Having wored on numerous short sales, I have often wondered about the banks’ apparent lack of control over collection policies. This is especially true if the loan is a subordinate lien. The demands made of the sellers by these second liens are far beyond reasonable, even more so if the subordinate lien has already been […]
Making Home Affordable Program Fails – Long-term Problem, Short-term fix
Housing advocates and politicians are pressuring the administration to make changes to the Making Home Affordable program as the housing crisis continues to grow. The suggestions to retool the program are justified. A few facts follow: · Less than 200,000 homes owners have received permanent loan modifications even though it is estimated 3 to 4 […]
HAMP Has Hit The Hump
HAMP – is barely able to handle even the current volume of modifications and now here is the hump; the impending exponential increase in mortgage delinquencies coming this summer. The popular Alt-A and Option ARMs from the height of the real estate bubble begin to reset this summer. These loans walked the tightrope between prime […]
Stockton homes for sale 95219 – Brookside Market Update Report
Download now or watch on posterous Brookside_Market_Update_Stockton_Ca_Homes_for_Sale_Brookside_95219_Market_Trends_Statistics_Graphs.wmv (2068 KB) Pat Holkesvig is Stockton’s #1 listing agent. Each month she prepares the Stockton Market Update Report that includes home values, listing prices, number of homes for sale and many other measurements, market trends and. The Market Update Report is distributed to over 45,000 prospects and clients. […]