SHORT SALE AND FORECLOSURE BLOG

The foreclosure law of the state in which the property is located controls how the foreclosure process is completed. Every state’s foreclosure statute delineates the various time periods for each step involved in the entire foreclosure process from start to finish. So, the statute can be seen as a roadmap of sorts, assisting homeowners interested [...]

Tags: 360 REALTY, Agents, avoid, California Foreclosure, FANNIE MAE, foreclosure, FREDDIE MAC, homeowner, los angeles real estate, short sale expert

RVINE, CA, Jan 26, 2012 (MARKETWIRE via COMTEX) — RealtyTrac(R) ( www.realtytrac.com ), the leading online marketplace for foreclosures, today released its Q3 2011 U.S. Foreclosure Sales Report(TM), which shows that sales of homes that were in some stage of foreclosure or bank owned accounted for 20 percent of all U.S. residential sales in the [...]

Tags: 360 REALTY, Agents, bank owned, buyers, foreclosure, investors, los angeles real estate, pre-foreclossure, property, REO, short sale expert, Short Sales

Calling it “inadequate for California,” the state is rejecting the latest settlement proposal between states and major U.S. banks over lending abuses that fueled the foreclosure crisis. California Attorney General Kamala Harris pulled out of nationwide talks with the banks in October, saying the proposed $25 billion deal gave too much immunity to lenders and didn’t provide [...]

Tags: 360 REALTY, Agents, Bank of America, California Attorney General, Chase, delinquent homeowners, Foreclosure Settlement, JPMorgan, Loan Modifications, mortgages, real estate los angeles, Sale, short sale expert, Wells Fargo

California lawmakers voted Monday to extend a law passed during the peak of the mortgage crisis that provides added protections for property owners, renters and neighbors of foreclosed properties. The law passed in 2008 says foreclosure proceedings can’t begin until the lender has tried for 30 days to work out alternatives with the delinquent homeowner. [...]

Tags: 360 REALTY, Agents, california, real estate, real estate california, real estate experts, real estate los angeles, SB708

The housing collapse has dramatically changed the nation’s foreclosure landscape. Neighborhoods boasting modern homes, cul-de-sacs and tree-lined streets in and around Western cities now dominate the list of the top 100 U.S. zip codes hit hardest by foreclosures and claim and comprise all of the top 10 spots, according to data generated for CNNMoney by [...]

Tags: 360 REALTY, Agents, foreclosure, Lancaster, los angeles real estate, real estate experts, San Bernardino

Monthly sales of new and existing homes in California surged in December while home prices remained steady even though distressed properties accounted for over half of all existing home sales during the month according to real estate information provider DataQuick. An estimated total of 37,734 new and existing homes and condos were sold in the [...]

Tags: 360 REALTY, Agents, california, condos, DataQuick, distressed properties, FANNIE MAE, foreclosure, FREDDIE MAC, median home prices, new and re-sale homes, sales, Short Sales, typical mortgage payment

As government, federal regulators and big-money private investors try to figure out a plan for bulk sales of foreclosed properties, big banks are already making deals, but they are few and far between. The trouble is, they are looking at even bigger write-downs than forecast if they sell these distressed properties in bulk. “One of the [...]

Tags: 360 REALTY, california, foreclosure, FREDDIE MAC, los angeles real estate, real estate los angeles

The Obama administration, in conjunction with federal regulators and led by the overseer of Fannie Mae and Freddie Mac, is very close to announcing a pilot program to sell government-owned foreclosures in bulk to investors as rentals, according to administration officials. There currently are about a quarter of a million foreclosed properties on the books [...]

Tags: 360 REALTY, Agents, avoid, foreclosure, FREDDIE MAC, Government, HUD, los angeles real estate, real estate, real estate los angeles

“Pent-up demand.” That is the rallying cry of the housing bulls, as they forecast the great recovery of 2012. So many potential buyers are doubled up with family, stuck in undesirable rentals or just plain afraid to put their current home on the market, but that’s about to change, say these optimistic prognosticators. “Inventories [of [...]

Tags: 360 REALTY, Agents, FANNIE MAE, Federal Housing, FHA, foreclosure, FREDDIE MAC, homeowner, homeownership, los angeles real estate, los angeles short sales, mortgage, short sale experts, Short Sales, Single Family Homes

Banks may seize more than 1 million U.S. homes this year after legal scrutiny of their foreclosure practices slowed actions against delinquent property owners in 2011, RealtyTrac Inc. said. About 1.89 million properties received notices of default, auction or repossession last year, down 34 percent from 2010 and the lowest number since 2007, the Irvine, [...]

Tags: 360 REALTY, Agents, foreclosure, Home Sales, real estate experts, Repossession