In The News

Banks Helping Decrease Local Foreclosures

02/12/2010 San Diego 10 News

More banks assisting In loan modification resulting in a reduction in foreclosures.

 

Investors dominate home flipping, auctions

01/20/2010 SF Gate

House flipping, a quick-buck scheme pursued by amateurs and professionals alike during the real estate boom, now is dominated by investors willing to pay all cash, who troll auctions for foreclosures that banks are gradually trying to siphon off their books.
This trend, which took hold more than a year ago, gained more ground last week when the Federal Housing Administration reversed a rule and decided to allow government-backed mortgages for homes sold and resold within 90 days.

 

Get it while gettin' is good?

01/13/2010 Inman News

Experts ponder shape of housing recovery during the Real Estate Connect conference on Wednesday.

 

Mortgage lenders cancel more foreclosures in November

12/15/2009 San Jose Mercury News

Under intense pressure to help more people stay in their homes, mortgage lenders canceled far more scheduled foreclosures in November than in the previous month, according to a report Tuesday.

 

House Flipping Makes a Comeback

12/09/2009 Wall Street Journal - Digital Network

During the housing boom, millions of Americans tried to make money by buying and then quickly reselling new houses and condominiums. That kind of flipping stopped several years ago as home sales stalled amid a surge in foreclosures and curtailed lending.
Now, a different breed of flipper is proliferating: one who seeks bargains at foreclosure auctions. Unlike the boom-time flippers, the latest generation needs cold cash, lots of local-market knowledge and strong nerves.

 

Rent Your Own Home

11/23/2009 Bankrate.com

Homeowners who can't afford their mortgage payment, but still want to live in their current home may be keen to learn more about Fannie Mae's new Deed for Lease program, which allows homeowners to sign a deed in lieu of foreclosure and then rent back their home and continue to live there.

 

Home Affordability Builds - But Some Buyers Wait For Market's Bottom

11/20/2009 The Modesto Bee

Home affordability has hit another all-time high in Stanislaus County, putting homeownership in reach for more first-time buyers.
Sales prices, meanwhile, held steady in October, with the county's median-priced home selling for $140,000.
But foreclosures continue creeping up as 569 more Stanislaus homeowners defaulted on their mortgages last month.

 

Will the Groundhog See a Shadow Housing Inventory?

10/14/2009 Wall Street Journal - Digital Network

So where’s that long-awaited deluge of bank-owned homes that is supposed to flood the U.S. housing market? This “shadow” inventory has been a hot topic in recent months (as housing analysts struggle to guess how much further house prices may fall.

 

Foreclosure notices are up but foreclosure sales are down

10/13/2009 San Jose Mercury News

Foreclosure figures released Tuesday by ForeclosureRadar, a Discovery Bay company that tracks California foreclosure activity, continue a trend of the past several months: More and more homeowners are failing to make their mortgage payments but banks aren't forcing the sale of their homes while they try to work out loan modifications.

 

HAMP Delaying Foreclosures in California, but Not Cancelling Them Yet

09/16/2009 DSNews.com

The government’s program to modify mortgage loans has clearly led to foreclosures being postponed in California, but they have not yet been cancelled pending trial period results, according to ForeclosureRadar’s monthly report on California foreclosures.