SHORT SALE AND FORECLOSURE BLOG

Since the Obama administration has negotiated a $25 billion dollar mortgage settlement with 49 states and the 5 largest mortgage servicing banks, it is not likely to significantly help the vast majority of homeowners in crisis, and here’s why. “The latest mortgage settlement will have little to no impact on the current real estate market. [...]

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With the nation possibly facing the worst financial crisis since the Great Depression, and as many as 6 million homeowners at risk of foreclosure, we all need to review our finances and make sure we are well positioned for the future. Home values, the stock market and the economy will eventually recover, so the main goal is [...]

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In another sign that commercial real estate is thawing in choice markets, construction will officially get underway Thursday on a $350-million residential and retail development on Ocean Avenue in Santa Monica. The complex, called the Village at Santa Monica, which mixes luxury condominiums and affordable apartments, has been in the works for more than six [...]

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For years, the housing market has been locked in a deep freeze, as a combination of underwater mortgages, reluctant lenders, and a lack of political will have kept a huge mass of homes off the market and in limbo. But as banks are finally coming to the conclusion that it makes more sense to accept smaller [...]

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360 Realty Can Help You Buy HUD Homes! 23012 Gilmore Street West Hills, CA 91307 $410,000 Click Photo for Virtual Tour

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•  Nearly 4,000 California distressed properties sold last month •  ‘Foreclosure starts remain near record low levels Real estate investors started off 2012 with a bang, with sales to third parties, typically investors, rising significantly in January throughout California, according to a new report Tuesday from foreclosure information company ForeclosureRadar Inc. of Discovery Bay. In [...]

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California housing affordability improves, matching previous record high, C.A.R. reports LOS ANGELES, CA – February 13, 2012 – (RealEstateRama) — California’s housing affordability rose to its highest level in fourth-quarter 2011, matching a record high set in 2009, thanks to lower home prices and record-low interest rates, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today. [...]

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Trulia’s released its latest Metro Movers Report, which looks at where people live now and where they’re searching for houses–it covers October 1 through December 31, 2011 (the last edition showed Angelenos were itching to get to Riverside). Besides finding that everyone seems to want to move to Florida, this time around they looked at [...]

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Our federal government has put a program in place to improve the short sale process and help homeowners avoid foreclosure.  If you live in your property, have a conventional loan and are behind in mortgage payments, you may be eligible for a HAFA short sale through your lender.  HAFA stands for Home Affordable Foreclosure Alternative [...]

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Banks, accelerating efforts to move troubled mortgages off their books, are offering as much as $35,000 or more in cash to delinquent homeowners to sell their properties for less than they owe. Lenders have routinely delayed or blocked such transactions, known as short sales, in which they accept less from a buyer than the seller’s outstanding loan. [...]

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