SHORT SALE AND FORECLOSURE BLOG

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. [...]

Tags: 360 REALTY, Agents, Chase, Citigroup, foreclosure, JPMorgan, los angeles real estate, los angeles short sales, real estate, short sale experts, Short Sale Incentive, Short Sales, short sales los angeles, Wells Fargo

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