California Withdraws From Negotiations

Posted: 10/07/2011

HousesCalifornia withdrew from settlement negotiations with the major banks last week amid inadequate offers by the banks to help California homeowners. A potential deal would allow the banks to gain some legal protection against claims of {...}

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Fed Tries to Revive Sluggish Economy

Posted: 9/22/2011

Mortgage ApplicationThe Federal Reserve announced this week that it will try to boost the economy by lowering long-term interest rates in a stimulus known as "Operation Twist". Operation Twist will allow the Fed to shuffle $400 billion of its {...}

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Late Mortgage Payments Rise

Posted: 9/01/2011

The number of U.S. mortgages overdue by 30 days have risen to the highest levels in over a year as homeowners struggle to make their payments. In a normal housing market the number of homeowners who are delinquent is about 1.1 percent, according to the Mortgage Bankers Association. During the second quarter of this year however, that {...}

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Home Prices and Sales Fall in July

Posted: 8/17/2011

California Home Pricing DropThe newest data released by DataQuick shows that the median price paid for purchased homes in California dropped 0.4% to $252,000 last month. Comparatively, this is a 6% drop compared to the July of last year. Distressed properties, {...}

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August Market News

Posted: 8/04/2011


New Survey Finds Lenders Making Minimal Improvements

A new survey released by the California Association of realtors is showing that 77% of realtors classify closing a short-sale transaction as "difficult" or "extremely difficult". The survey, which is a followup to similar survey from December 2010, shows that little {...}

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New Law Protects Short Sale Hopefuls

Posted: 7/21/2011

Sacramento Capital BuildingCalifornia Governor Jerry Brown signed a law this week further protecting homeowners that are pursuing short sales. Senate Bill 458 bars first and secondary mortgage holders from going after people for deficiency balances after a short {...}

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Foreclosure Reprieve

Posted: 6/30/2011

Foreclosure SignDistressed homeowners who are facing foreclosure are getting a little breathing room as the illegal processing of foreclosure paperwork by their lenders has stalled many foreclosure proceedings. In April, regulators gave banks 60 days to put in {...}

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Prices Stutter, Sales Drag

Posted: 6/15/2011

California continued to have a weak housing market last month, according to the newest data from DataQuick. Affluent areas such as San Francisco, San Mateo and Santa Barbara saw an increase in both median prices and sales, but as a whole the state is still in {...}

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Housing Prices Double Dip

Posted: 6/01/2011


The Case-Shiller Home Price index has now fallen for eight consecutive months with nationwide home prices falling to levels not seen since 2002. With the abundant supply of houses on the market and a steady stream of foreclosures, prices are estimated to further decline. Of the 28 metro areas in the Index, only Washington D.C. {...}

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Chase Offers New Incentive for Short Sales

Posted: 5/19/2011

Chase customers are reporting that the lender is offering some homeowners up to $35,000 to short sale their home. Sacramento Today reports that many under water customers are getting letters in the mail stating the incentive, but there is a catch. The offer only appears to be good towards loans that were originated by Washington Mutual. {...}

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