February 2010 Stockton Area Housing Market Update

Posted by & filed under Brookside Real Estate, Morada Real Estate, Quail Lakes Real Estate, Real Estate Market Trends, Short Sales, Spanos West Real Estate, Stockton Real Estate.

Foreclosure Activity In California Is Up As reported at DSNews.com, ForeclosureRadar, a locally based company that tracks every California foreclosure on a daily average basis, reports foreclosure activity here increased last month. The number of foreclosures that went back to the bank rose 29.4 percent, those sold to a third party rose by 62.7 percent, […]

Making Home Affordable Program Fails – Long-term Problem, Short-term fix

Posted by & filed under Short Sales, Stockton Real Estate.

Housing advocates and politicians are pressuring the administration to make changes to the Making Home Affordable program as the housing crisis continues to grow. The suggestions to retool the program are justified. A few facts follow: · Less than 200,000 homes owners have received permanent loan modifications even though it is estimated 3 to 4 […]

TransUnion Reports Mortgage Delinquencies Increase 50% Compared to Last Year!

Posted by & filed under Short Sales, Stockton Real Estate.

The percentage of borrowers at least 60 days past due on their mortgage increased for the 12th straight quarter, hitting 6.89 percent by the end of 2009, according to new data released by TransUnion Tuesday. That%u2019s an all-time high in the credit bureau%u2019s study, dating back to 1992. This statistic, which is traditionally seen as […]

CA Foreclosure Law – Civil Code 2924

Posted by & filed under Short Sales, Stockton Real Estate.

Download now or preview on posterous CA Foreclosure Law – Civil Code 2924.pdf (104 KB) We process more Stockton short sales than any other short sale agent in the Central Valley.  We receive numerous requests for information on the California foreclosure process.  A copy of CA Foreclosure Law – Civil Code 2924 follows.   Please call […]

10 steps to ‘short sale’ buying

Posted by & filed under Short Sales, Stockton Real Estate.

Bobbi Dempsey one of the authors of “The Complete Idiot’s Guide to Buying Foreclosures” blogs on the following list: 10 steps to short-sale homebuying 1. Identify potential short sales. 2. View the property. 3. Do your research. 4. Find all liens and mortgages. 5. Figure out the financing. 6. Contact the lender. 7. Complete the […]

Short Sale Fraud

Posted by & filed under Short Sales, Stockton Real Estate.

In the recent article posted by Karl Denninger entitled New Short Sale Fraud Allegations: Second Liens, The subject of fraud with short sale subordinate lien holders is discussed. Unfortunately since second lien holders frequently, get 10% or less, they often request funds off the HUD to be brought in by real estate agents or the […]

Short Sales are Risky for Homebuyer Tax Credit

Posted by & filed under Short Sales, Stockton Real Estate.

In the article titled Homebuyer-Tax-Credit-Deadline-Freezes-Out-Short-Sales By Steve Cook at Real Estate Economy Watch, Mr. Cook discusses the unpredictable and lengthy nature of short sale transactions.   In particular, he focuses on the inability to rely on a short sale timeframe to guarantee qualifying for the Homebuyer Tax Credit which requires that a buyer be under contract […]

Chase violates Treasury Dept. rules when denying some loan modifications!

Posted by & filed under Stockton Real Estate.

Several distressed homeowners who may be eligible for loan modifications were denied by Chase for a reason that violates the Treasury Department’s rules, according to a recent report from ProPublica, a nonprofit news organization. ProPublica said that six troubled homeowners had been denied loan modifications by Chase Home Finance, JPMorgan’s mortgage servicing arm, on the […]