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Rachel LaMar, J.D.
Broker, Attorney, Owner
LaMar Real Estate
Rachel@LaMarRealEstate.org
Cellular 760-310-9466
CA BRE# 01399682

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News, Views and Opinions on Real Estate, Law and the North San Diego Community

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rachel
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Rachel LaMar, J.D.
Broker, Attorney, Owner
LaMar Real Estate
Rachel@LaMarRealEstate.org
Cellular 760-310-9466
CA BRE# 01399682

News, Views and Opinions on Real Estate, Law and the North San Diego Community

Posts Tagged ‘Foreclosure’

Mortgage 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…

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Get 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…

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There is NO Such Thing as Shadow Inventory

You have heard the term “shadow inventory.” It was initially coined to refer to the housing inventory that lenders owned, post-foreclosure, but had not yet placed on the market for sale. It has been feared for years and is the subject of much speculation – how much are those lenders really holding back? Since the…

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Bank of America Issues Notice that May Affect Short Sales

Bank of America issued a notice recently to agents about the possibility of selling off loans in the middle of a short sale, which could drastically affect your short sale (and even cancel it last minute). It is very important that both homeowners and their agents understand what is happening, before listing a property for…

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Will the Short Sale Tax Break Be Extended?

It is almost here: the dreaded end of the federal short sale tax breaks, also known as the Mortgage Forgiveness Debt Relief Act. Come December 31, sellers who have not yet closed escrow on their short sales will no longer escape the capital gains tax on the difference between the sales price (of their home…

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California 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…

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Another 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…

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Short 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…

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Rent Your Home and Avoid Foreclosure: Too Good to be True?

These days it is frustrating to figure out options to avoiding foreclosure. Many homeowners who call me to discuss short selling have similar questions: what are my options. Of course, there are options out there – like refinancing (HARP2 will be able to help some underwater borrowers starting in a few weeks – see previous…

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How 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…

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