Recently reported in the Washington Post was an article on FHA mortgage defaults rising and possibly foreshadowing a crush of foreclosures. FHA loan defaults rose almost 3% from last year to…
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CA Mortgage News- Inland Empire Foreclosure News, False Sense of Security?
There might be hope for places like Riverside, Corona, and Lake Ellsinore areas. According to a report in our local news paper the Press Enterprise a California real estate research company is…
CA Mortgage News- Banks after Homeowners for Walking Away from Homes
In a recent report I received from REALTOR magazine an attorney spoke about banks coming after homeowners in foreclosures and short sales. In high foreclosure states like California where…
CA Mortgage News – Home Buyers Will Have Advantage Over Investors
Thanks to Fannie Mae who has introduced a new program for owner occupied foreclosure buyers called, “First Look”. This is giving home buyers 15 days to preview and make offers on Fannie…
CA Mortgage news- New HAMP Loan Mod Guidelines Could Help California
According to a recent report on Mortgage News Daily two government agencies have reported that they are attempting to once again re-vamp the HAMP program in the hopes to make it more effective and…
CA Mortgage- Buy and Bails Mortgage Fraud
I mentioned that some homeowners are choosing to have their homes foreclosed on and a percentage of those homeowners are doing what is called a buy and bail. And that I have seen this practice in…
CA Mortgage News- B of A says it is “Stepping Up the Program”
According to a report on Cnnmoney.com Bank of America says it’s the first lender to basically modify 2nd mortgage loans, they say this will be a big boost to helping the HAMP program be more…
CA Mortgage News- Why Some Homeowners Choose Foreclosure
As stated in an article last week there are some 87,000 active foreclosures in California, more than ½ of those are in Southern California alone. Did you know that a fair number of…
CA Mortgage News- Foreclosure Scams in California
There is no shortage of scams and scam artists running amok in California preying on homeowners facing foreclosure. Since California is on the top 5 list for the astounding number of foreclosures…
CA Mortgage News- California Crisis-How Do We Fix It?
California is in a deep dark financial hole with no rope to climb out. Gov. Schwarenegger declared a fiscal emergency recently for our fair state and asked for millions of dollars in aid from…