Although the number of foreclosures has been reported as going down 8% since last month, it is still up 18% over this time last year. Don’t be mislead by the numbers, foreclosures are still ocurring in large numbers and the government is actively trying to create incentives to help prevent them. The good news is […]
Posts Tagged: Real Estate
U.S. Treasury to Impose New Short Sale Incentives and Requirements for Lenders
As reported by Reuters on Monday The U.S. Treasury released terms for mortgage companies to increase approval times on short sales and loan modification programs to reduce the numbers of foreclosures. The Home Affordable Foreclosure Alternatives Program will provide financial incentives and simplifies the procedures for completing short sales. Since the HAMP program encounters situations […]
Foreclosure Understanding the Process and How to Avoid it
So often homeowners in danger of foreclosure are confused by the process and what options are available to them. Given the large number of Stockton foreclosures, I am frequently asked questions to explain the foreclosure process and whether a short sale is the right option. Any homeowner in danger of foreclosure should contact their attorney […]
Stockton Short Sales and Stockton Foreclosures
The number of Stockton REOs has decreased as banks and investors sell REOs in bulk and foreclosures are purchased at a discount on the court house steps. Banks and investors are also starting to rent the homes they own. We expect this will provide a downward pressure on rental rates. Landlords should lock tenants into […]
Stockton Short Sales Are Alive and Well
In the last two weeks the Homes In Stockton team has received 3 Stockton short sale approvals and successfully postponed an additional 3 foreclosures that are currently under short sale approval consideration. If you have a home in default in Stockton, Lodi, Manteca, Tracy or nearby outlying areas, we may be able to help you! […]
New Push Toward Short Sales
The US Treasury Department has announced the formation of a new incentive program aimed at encouraging mortgage servicers to pursue short sales. Details are expected later this month. The program is expected to simplify the process of pursuing short sales by standardizing the process, documentation and timeframes. A short sale is a transaction in which […]
Government short sale incentive program
Short sale incentive program is on its way! Is it the solution we all have been waiting for or too little too late? Read article here Call me at (209) 471-6516 or email me at [email protected] regarding any questions you may have regarding Stockton real estate, Lathrop real estate, Lodi real estate, Manteca real estate […]
Tumultuous August for loan servicers
The following is a great Blog summarizing the events of the past month and what they mean to the lending industry and borrowers. Read the full Blog here.
Loan Modifications Despite Second Lien
Regulators have sent a message to lending institutions, to not allow the fact that there is a 2nd lien on a property influence the loan modification process. Read full article here
Loan modifications or else!
Barney Frank has stated that the legislative branch is greatly disappointed with the initial results of Obama’s Making Home Affordable Plan. If the lending industry doesn’t increase successful loan modifications, bankruptcy legislation will return. read article here
All negative reviews for Obama housing plan
CNN is reporting that they received about 500 complaints from homeowners trying to obtain loan modifications through the Obama housing plan. They have featured some of those stories here. read original article
Housing Prices Being Restored
Home prices throughout the nation have fallen 19% over the last 12 months. Home prices are only 7% more than where they were in early 2000. Read full article here
Stockton Short Sales
We continue to see in an increase in the number of short sale listings on the market. Out team is currently closing in excess of 90% of the short sales we list. Average time for approvals is 3.6 months. Patience is the key!
Wells Fargo sues itself!
I have often wondered how the banking industry got us into the mess we are currently in. This recent article explains a lot. Wells Fargo sues itself. Total lack of common and business sense. And waste of money, time and effort. Maybe the Stockton short sales we process with Wells could move a little bit […]
Pending sales up for four months
Pending home sales have been rising for four consecutive months, made possible by affordable home prices and a first-time buyer tax credit, according to the National Association of Realtors (NAR). The Pending Home Sales Index, increased to 90.7 in May up from 90.6 in April, and is 6.7% higher than May 2008, when it was […]
PMI projects lower home prices in 2011
In a new report released from PMI Mortgage Insurance Co. it is projected that 60% of the top 50 metropolitan statistical areas (MSAs) have a greater than 50% probability of lower home prices in the first quarter of 2011. According to PMI, as many as 324 of the nation’s 381 MSAs now face increased risk […]
New Study Suggests More Than 25% of Mortgage Defaults Are Strategic!
Current housing policy is attempting to address the needs of home owners facing a cash crunch. Not being addressed however are the homeowners who now are 40 – 60% underwater with their existing mortgages. These homeowners may be able to afford the payment but some are making an economic decision not to. Many have not […]
Mortgage rates are on the rise
The benchmark 30-year fixed-rate mortgage rose 30 basis points to 5.95%, according to Bankrate.com, while the 15-year fixed-rate rose 31 basis points to 5.37%. In the last 3 weeks the 30-year fixed-rate mortgages have increased from 5.29% to an average 5.59% with an average 0.7 point for the week ending June 11. The 15-year fixed-rate […]
Are housing prices starting to stablize?
According to the President of Integrated Asset Services, “It’s too soon to call this a turn in the housing market, particularly given all the political and regulatory uncertainties, I think that we’re still in for some difficult spells ahead, but we are seeing a certain kind of pricing equilibrium in several important markets. That’s encouraging […]
The ARM “Non-Issue” & California Pay Option Arm Nightmare May Lead to an Increase in Stockton Foreclosures!
The ARM reset issue has disappeared as long as interest rates remains at historical lows. The Option Arm problem still is a very large back cloud looming over California. With in excess of 80% of Pay Option Arm homeowners making the minimum payment each month, interest payments are not being paid and loan balances are […]
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 […]
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
Expect more high-end Stockton Real Estate Foreclosures
Jumbo prime mortgages had the highest foreclosure increases in February. I expect this trend to continue as large numbers of Option Arms and Alt A loans reset. Stockton real estate prices will continue downward at the higher-end. I am experiencing an increase in the number of short sales calls I am receiving. HousingWire Article
Stockton Short Sales
Many have fallen prey to these economic times through no fault of their own, and are unable to keep up with their commitments. Some homeowners with adjustable-rate loans can’t make their payments when rates adjust; others fall behind because of a job loss, divorce or illness.It is estimated that more than a million homeowners will […]