Posts Tagged ‘foreclosures’
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…
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Real Estate News for Week of December 9, 2013
Franchise Tax Board Will Not Tax California Short Sellers on Non-Recourse Loans: The FTB has announced that short sellers will not be taxed on non-recourse loans, following the lead of the IRS. This decision seems obvious, given that a short sale does not have debt forgiveness. Good news for those who need to sell their…
Read MoreThinking of Buying Property? You’d Better Hurry!
If you have been contemplating purchasing a home, whether it be a starter home, your dream home, investment property, or any other type of property, you may want to get serious now before it’s too late. Here are some reasons why it’s better to jump off that fence now rather than wait: 1. It is…
Read MoreIs Lender Short Sale Cooperation Increasing?
Could it be that lenders are starting to cooperate more with short sales? And if so, what does that mean to sellers and buyers? Might short sales get easier and speedier, thereby ridding many markets of distressed inventory and putting them on the road to recovery? This may sound too good to be true, but…
Read MoreForeclosures: Is the Barrage Over?
Recent studies indicate that foreclosure filings are down across the nation, but what does that really mean? Several theories have been discussed in the media about what will happen next. One is that things are improving, albeit slowly, and lenders are embracing foreclosure prevention measures (like loan modifications and short sales) more heartily. The other…
Read MoreFederal Foreclosure Mitigation Programs to be Axed
Four federal programs that were created to help troubled homeowners escape the foreclosure ax are on the endangered list this week. Included are HAMP, the FHA’s short refinance program, HUD’s Neighborhood Stabilization Program and the Emergency Homeowner Relief Fund. While created with good intentions of helping millions of borrowers, these programs in reality have all…
Read MoreDo Loan Modifications Raise Debt?
Could it be that loan modifications are actually raising debt? I read a short article today by Dean Calbreath in the San Diego Union Tribune that stated yes, they are. Mr.Calbreath points out that more foreclosures could be prevented if, instead of increasing the debt on the principal of troubled mortgages, the lenders reduced the…
Read MoreUnderstanding Short Sale and Foreclosure Dangers
Short sales, the sale of property for an amount less than the value owed on the mortgage(s), are a popular option to foreclosure for many underwater borrowers. But if you are considering a short sale or facing foreclosure there are some consequences you should be aware of and questions you need to have answered before…
Read MoreWill Option ARM Resets Cause a National Crisis?
Are we in for a national crisis with option ARMs resetting in the next several years, or it is all just a bunch of baloney? Option ARMs were the most popular types of mortgage product between 2003 and 2006, as they provided many borrowers who otherwise would be unable to afford a home with a…
Read MorePromising New Mortgage Workout Plan in the Works
Hot off the wires: there is a bill pending that would help people facing foreclosures in their ability to work out new mortgages. It would allow judges to authorize loan terms for primary residences after the owners have declared bankruptcy. This is a brilliant idea and in my opinion has the most potential of anything…
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