SHORT SALE AND FORECLOSURE BLOG

They say celebrities are just like us, except richer, better looking and skinnier.  Perhaps. What is indisputable, however, is that they are not spared from suffering through falling property values and other economic hardships so many Middle Americans are suffering through today.  Many of these athletes or celebrities bought when they received their big paychecks, [...]

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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 [...]

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10927 Hamlin St North Hollywood, CA MLS #11-566959  - 2 Bedroom 1 Bath Call 800-399-9659 to schedule a showing! Click Photo for Virtual Tour!

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Today, the Administration announced important enhancements to the Making Home Affordable Program, including the Home Affordable Modification Program (HAMP), to expand the reach of the program to help additional homeowners stay in their homes and strengthen hard-hit communities. These enhancements will provide additional relief to struggling homeowners, renters, and their neighborhoods to accelerate the housing [...]

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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

Do educate yourself. This is THE most important thing you can do.  Short sales can be complicated. You need every bit of information you can get when you jump into the short sale process. Don’t wait until it’s too late. If you drag your feet and hide from the fact that you’ve stopped making mortgage payments, it will [...]

Tags: 360 REALTY, Agents, FANNIE MAE, foreclosure, FREDDIE MAC, los angeles real estate, los angeles short sales, short sale expert, Short Sale Q&A

During the last 3 years, around 650,000 property owners in California have lost their houses to foreclosure. As it stands today, nearly 30 percent of property owners owe more than their property is worth. To avoid repossessions, many of them are choosing to sell their houses for less than the amount they owe, creating a [...]

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This is not news, but it IS critical for any Seller thinking about listing their home as a Short Sale in California in 2012. Remember the MOST critical thing..the Debt Forgiveness Act expires on 12/31/2012. Will it be extended? Most likely. However..do you want to take that chance? Read on for a recap of our [...]

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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