Foreclosure
Why the Real Estate Market WON’T Crash in 2021
There has been a lot of buzz lately about whether the real estate market will crash in 2021…I say that will not happen! Let’s look at the reasons why. 1. Loans and the inability to repay them are treated differently today.. Unlike the 2008 market crash, lenders have not been making a plethora of bad…
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Real Estate Market Update June 2020
It certainly has been a challenging time for all of us, but the real estate market does not seem to be affected. There are fewer homes for sale now than at any time since 2006 – according to Altos Research – and the number of listed homes seems to be falling rather than increasing, as…
Read MoreMortgage Payments Too High? Here is What You Need to Do
Believe it or not, there are MANY homeowners who are underwater, still, years after the mortgage meltdown. According to Core Logic, 6.1% – 3.1 millions homes – of all mortgaged CA homes have negative equity, as of the first quarter of 2017. Short sales are also increasing recently as many variable mortgages that were obtained…
Read MoreGet Ready for A California Foreclosure Wave
There is a big wave coming to Southern California and it will not be found in the ocean. Foreclosures have hit their highest level in two years and should begin to affect real estate inventory soon, at least for a short period of time. According to new data released this month by RealtyTrac, one of…
Read MoreBeware: Secondary Lien Holders Could Sue You…
If you are facing foreclosure and have more than one lien (mortgage), there is a new law that could greatly affect you. The California Supreme Court just denied review of a state appeal court ruling that allows second “purchase money” lien holders to sue homeowners for deficiency judgments after a first lien holder has foreclosed.…
Read MoreCalifornia Passes Homeowner Bill of Rights
It is official – today California passed the controversial Homeowner Bill of Rights. The controversial bill, which actually consists of a series of bills, was created to protect the rights of mortgage borrowers and those caught in the foreclosure process. The law will take effect January 1, 2013, and focuses on the following: Single point…
Read MoreAnother Way to Avoid Federal Taxation on Short Sales
Are you thinking about short selling your home, but worry about possible tax consequences if it does not close by December 31 (the end of homeowner tax relief under the Mortgage Forgiveness Debt Relief Act)? You may be in luck, even if the Act is not extended. The Mortgage Forgiveness Debt Relief Act (MFDRA), which…
Read MoreShort Sale and Foreclosure News Brief
There is a lot going on in the short sale and foreclosure arenas, and much of it may effect buyers, sellers and underwater borrowers. Here is the latest news: Short Sales: Will They Soon be Shorter? There has been talk about making short sales shorter – not a new topic of course but this time…
Read MoreHow Do I Buy a Foreclosure?
I have had several clients recently ask how to purchase a foreclosure property, and it is a great question. Oftentimes buyers do not differentiate between the purchase of a foreclosure, a pre-foreclosure, and a post-foreclosure. Let’s take a look at the different ways to purchase property in various stages of foreclosure: 1. Auction (the one…
Read MoreAvoid Foreclosure and Stay in Your Home: Deeds for Lease Programs
We have heard news of deed for lease programs rumbling for some time, but Bank of America announced this week that it will begin making them a reality. What this means is that struggling homeowners will be able to turn their deeds over the the bank, and then sign a lease to stay in their…
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