The increase in job losses, cut incomes and too much debt is taking it’s toll on the most credit worthy of borrowers. On April 21, Fannie and Freddie reported delinquencies among this group of homeowners rose fifty percent. The number of "prime borrowers" that are 60+ days delinquent on mortgages owned/guaranteed by Freddie and Fannie […]
Monthly Archives:: April 2009
Stockton’s Foreclosure Crisis Continues to Deepen!
The number os Notices of Defaults filed in California reached a high in March, 42,704. These new filings are the first step in the foreclosure process and will result in an increase in the number of foreclosure down the road. The number of Notices of Trustee Sale – which are filed 3 months after a […]
The Number of Stockton Homes for Sale Dwindles!
The number of Stockton homes for sale has decreased as the number of Stockton foreclosures has dwindled. Good news is the "junk" Stockton foreclosures and Stockton short sales are sold! Demand far exceeds supply. There are approximately 4000 foreclosures countywide that have not hit the market and many more expected. Not quite sure what the […]
Stockton is Number 1.. and Not for Foreclosures!
We’re No. 1! Stockton is rated No. 1 yet again only this time it is not for foreclosures but for the resulting decline in prices from foreclosures. HGTV rated us No.1 based on annual price depreciation and area amenities. Our proximity San Francisco and Sacramento gave us an advantage over other highly depreciated markets like […]
Same Old Story! Mortgage Delinquencies Up. More Stockton Real Estate Foreclosures & Stockton Short Sales Expected!
As delinquency increase so will Stockton foreclosures and Stockton short sales. HousingWire
Mortgage Insurer Triad Guaranty Inc cuts payout to 60%
More trouble for mortgage servicers. Triad Guaranty Inc. , a troubled mortgage insurer, announced it will reduce it’s payment on claims to 60%. The remaining 40%, for all intents and purposes,will be paid in the form of an IOU. Other insurers are expected to follow Triad’s lead which will result in increased losses for servicers […]
41% Delinquency Rate on Mortgages Revised in Q1 2008!
Mortgages modified in Q1 2006 fell delinquent 41% of the time after 8 months, and Q2 loans had a 46% delinquency rate. Q3 trends are worse. The delinquency rates are a reflection of the declining economic conditions and the fact that loan mods many times only extend payments on a loan amount that is higher […]
Stockton Foreclosures Expected to Increase after Freddie and Fannie Moratorium Lifted!
The Freddie and Fannie Moratorium was lifted 4/1/09. Foreclosure inventory is expected to increase. WashingtonIndepenent
Jumbo Mortgages are Back!
BofA announced a renewed focus on the jumbo mortgages. Looks like they are serious! Makes sense to loan money to solid citizens with 20%+ down and great credit. Duh! If only BofA would fund a loan! Have 5 Stockton real estate transactions being held up because of BofA processing issues. They have been blaming it […]