How REO Sales Impact Home Prices

~we don't have a REO market to speak of in CA, but this is interesting still~ How REO Sales Impact Home Prices With markets across the country suffering from pronounced inventory shortages, it would seem that anything that puts more homes on the market would be a good thing. A new report by Pro Teck … Continue reading How REO Sales Impact Home Prices

HAMP is expiring but do not despair

Step Aside HAMP, There’s a New Kid in Town With the Home Affordable Modification Program (HAMP) set to expire in less than three weeks, Fannie Mae has designed a foreclosure prevention program, Flex Modification, to help America’s families by offering reductions to their monthly mortgage payments. According to the announcement Wednesday, from the GSE, this … Continue reading HAMP is expiring but do not despair

FHA Rescinds Rule for Foreclosure on HECM Surving Non-Borrowing Spouses

From The MReport 5/4/15 The Federal Housing Administration (FHA) has issued a memo announcing the rescinding of a mortgagee letter written in January that would have allowed reverse mortgage lenders the option of delaying foreclosure proceedings on surviving non-borrowing spouses. Mortgagee Letter 2015-12, issued by HUD on Thursday, announced the immediate rescinding of Mortgagee Letter 2015-03, originally … Continue reading FHA Rescinds Rule for Foreclosure on HECM Surving Non-Borrowing Spouses

Low Foreclosures in Inland Empire

FORECLOSURES: 5 reasons for Inland celebration From Press-Enterprise 1/15/15 Inland Southern California once the epicenter of the housing crisis is now at pre-recession levels. Inland Southern California, once the epicenter of the housing crisis, is now back at pre-recession levels. That’s a great reason to let loose with a homeowners’ “huzzah!” “It’s good news,” said … Continue reading Low Foreclosures in Inland Empire

The states with the highest foreclosure rates

*spoiler alert California is not on the list* From MSN Money September 2014 The States With the Highest Foreclosure Rates U.S. foreclosure activity declined in September, reaching the lowest number of properties with a foreclosure filing since July 2006: 106,866. That’s down 9% from August and down 19% from last September, according to the monthly … Continue reading The states with the highest foreclosure rates

The shocking truths for homeowners struggling against foreclosure

Law firm: Wells Fargo case study allegedly reveals what they are up against From Housingwire.com 10/13/14 Several big banks have negotiated large settlements with the Department of Justice for their role in the housing bubble and subsequent economic collapse. While the historic settlements sound promising on the surface, a study by Denbeaux & Denbeaux law firm exposes … Continue reading The shocking truths for homeowners struggling against foreclosure