Equifax reports increase in mortgage and equity line delinquencies
Equifax Inc., is reporting that the number of 30 days past due mortgagees in January was up for 50 percent compared to January 2008. They also are reporting that the number of delinquent equity lines has accelerated by 3.39 percent in January 2009 compared to December 2008, the largest increase in 10 years.
Great news….FHA limits increased in San Joaquin County!
|
One-Family |
Two-Family |
Three-Family |
Four-Family |
|
$488,750 |
$625,700 |
$756,300 |
$939,900 |
Produce the Note!
Interesting new catch phrase sweeping across the country “Produce the Note”. Homeowners facing foreclosure have found a way to stick it to the banks. Essentially what is happening is that homeowners are filing the paperwork necessary to require the foreclosing bank to produce a copy of the original note. Doesn’t sound like it should be a problem, but the notes may have been bought and sold many times and the paper trail can be a extremely hard to follow. Click here to see a recent news story on the subject.
We process a large number of Stockton short sales and think “produce the note” can be used as leverage with the banks.
