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Bizarre Mortgage Requests Delay Borrowers

Underwriters are being extra vigilant in verifying every detail of a mortgage application, and some of their requests for information, borrowers say, are downright odd. For example, one borrower says an underwriter demanded a letter from his doctor that an illness he had would never come back. Another borrower says that an underwriter told her […]

Housing Inventories Are Falling

Home prices are increasing across the country as the number of homes for-sale continues to fall. But at a time when buyer demand is picking up, why is inventory still so low? Inventories fell to 1.82 million at the end of last year, a 21.6 percent drop from one year earlier, the National Association of […]

Banks Close To $10B Settlement Over Foreclosure Abuses

Fourteen banks are reportedly nearing a $10 billion settlement with banking regulators over the banks’ past involvement in foreclosure mishandlings that included faulty paperwork and excessive fees, The New York Times reports. About $3.75 billion of the reported settlement would go to aid home owners who lost their homes to foreclosure — more than double […]

$26 Billion Deal Could Offer Relief to Home Owners

      Daily Real Estate News | Thursday, February 09, 2012 After months of tense negotiations, the nation’s five largest banks and state and government officials have agreed to a $26 billion settlement aimed at holding banks accountable for the mishandling of some foreclosures. The settlement is expected to help 1 million home owners, […]

Five Things To Look For In Housing In 2012

Just as in 2011, in 2012 many will be trying to figure out where housing is headed.  While the housing market didn’t worsen in 2011, it also didn’t stabilize either.  This year, the story will be about local markets.  While many housing markets rose and fell together, they’re recovering at difference paces so talking about […]

Residential Real Estate Prices in Nevada County 2010 – 2011

By John O’Dell How’s Nevada County’s residential sales going?  Let’s take look at the years 2010 and 2011 from January to October of each year and compare the two. The Year 2010 from January to the end of October.  There were a total of 1,619 listings. Total sales in that period were 750. Average list […]

Foreclosure Notices Soar 33%, Biggest Monthly Gain In 4 Years

A new wave of foreclosures hit in August, as banks picked up the pace in taking action against home owners who have fallen behind on their mortgage payments, RealtyTrac Inc. reported Thursday. The number of U.S. homes that receiving an initial default notice rose 33 percent in August from July. That increase represents the biggest […]

Foreclosed Home Owners Take Out Revenge on Properties

httpv://youtu.be/rRWu1rD987k Some foreclosed home owners are taking out their anger on the homes they are forced to leave behind, smashing holes in the walls, scribbling graffiti everywhere, leaving piles of trash, and ripping out appliances. More banks — facing a growing problem from trashed foreclosures — are opting to offer homes at big discounts rather […]

Working With Short Sales, They Are Worth The Trouble

Short sales – a real estate transaction in which the homeowner needs to sell the property, but owes more on the mortgage than the home currently is worth – continue to dominate the housing market, but these real estate transactions aren’t for everyone. Typically with a short sale, the homeowner is underwater and has experienced […]

Mortgage Rates Are Great, If You Can Qualify!

Interest rates are near historic lows and home prices are affordable; however, many borrowers are finding they must have nearly pristine credit records and hefty down payments to get the best rates. Since 2009, credit standards have become much tighter.  For borrowers, this emphasizes the importance of paying close attention to credit scores. New rules […]