Short sales hit three year high

Posted: 4/08/2015

The percentage of short sales and foreclosures jumped up 2.2 percent in the first quarter of 2015, which is the largest increase seen since 2012. The new home distressed data, released by Clear Capital, shows that many areas are still struggling to recover from the losses seen during the real estate market crash. The rise in distressed {...}

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Loan modifications gone bad

Posted: 2/27/2015

A recent report from the Treasury Department indicates that more than 30% of borrowers who receive a HAMP loan modification will end up re-defaulting. The report also found that the longer a borrower remains in the loan modification program, the more likely they are to re-default. Homeowners who entered a loan modification in 2009 had {...}

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New short sale incentives for 2015

Posted: 1/16/2015

In February 2009, the Obama Administration introduced programs aimed to help homeowners who were struggling with underwater mortgages. Part of that initiative included the Home Affordable Foreclosure Alternatives (HAFA) program, which has been used to help homeowners avoid foreclosure and receive relocation assistance when performing a {...}

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Home sales slump after good summer

Posted: 1/02/2015

Home sales in Southen California have sunk to their lowest November levels seen in the past seven years, according to the most recent data released by CoreLogic. Signs of the market cool-off have emerged as median home prices have stayed relatively the same during the fall and winter months. "Inventory still lags demand in many markets {...}

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Equity loan defaults estimated to rise

Posted: 10/10/2014

Many homeowners who purchased their property or took out a home equity line between 2004 and 2008 may be in for a shocking surprise. Those who received loans with interest only payments {...}

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Chinese builder to invest in California Housing

Posted: 9/09/2014

Chinese home builder Landsea is taking steps towards investing over $1 billion into the US housing market. This new venture could be the first in a new wave of Chinese investors seeking what they believe to be a more stable US housing market. Individual Chinese investors have been pouring money into the California housing market in {...}

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More help for Short Sales

Posted: 8/06/2014

Distressed California homeowners who wish to pursue a short sale may qualify for relocation funds under the Transition Assistance Program (TAP). The TAP program is a state funded venture through CalHFA, which offers up to $5000 in transition assistance. These funds may be used in addition to any other assistance programs such as the {...}

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Spring cool-off eases new housing bubble fears

Posted: 7/01/2014

Real-estate marketplace Trulia released its quarterly "Bubble Watch" housing report last week, which showcases the top metro areas that are considered most overvalued. While the country as a whole appears to be in stable condition, prices in California have taken a large swing into overvalued territory. Eight of the ten most {...}

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Home equity woes linger

Posted: 5/20/2014

Nearly 10 million homeowners in the US are still stuck in homes valued lower than what they owe on their mortgage. According to a new report released by real-estate information company Zillow, 18.8% of homeowners are still considered "under water", or owing more on their mortgage than what their home is worth. While this is a vast {...}

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SoCal areas rank most overvalued

Posted: 4/04/2014

Orange County, Los Angeles and the Inland Empire are among the top five most overvalued housing markets in the US according to a new study published by Trulia. These areas are where the price of housing have far outpaced average income. Because of the rise in interest rates, new mortgage rules and slow growth in paychecks, many past {...}

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