Numerous articles have reported that homeowners are underwater and that strategic defaults are increasing. However, a little known statistic by the Federal Reserve shows that home equity again is on the rise.
KEEP THIS IN MIND
• The Federal Reserve conducts substantial research on mortgage balances and home-value changes in hundreds of local markets nationwide and reports [...]
The upper end market for real estate is picking up. This reminds me of prior downturns, when people waited for the bottom of the real estate market to turn, and when they finally decided to buy, they paid thousands more by waiting because the bottom had passed them by. Which brings up actor Nicolas Cage’s [...]
The good and bad of foreclosures is a mixed bag. The bad is that banks which pushed these risky loans are going to take a bath. The bad is that people who are being foreclose on either because of being tricked into a bad loan or loss of income, are going to have bad credit [...]
I wrote earlier that we should not walk away from your house if you are upside down on your mortgage. I’ve changed my mind. If you lost your job or had a great reduction in income for whatever reason, the banks don’t seem to care. I’ve read and seen were they’ll stall until you have [...]
The share of homeowners delinquent on their mortgage or in foreclosure hit a new record during the third quarter, according to industry data released Thursday, which also indicates that the problem is likely to get worse through next year as unemployment rates continue to rise.
About 9.6 percent of borrowers were delinquent on their mortgage during [...]
There is an amazing story in the August 2009 issue of the California Bar Journal about the growing number of complaints against lawyers and law firms offering mortgage help to homeowners. From investigating nine such complaints for all of 2008, the California State Bar is now investigating 391 complaints against 140 attorneys. What is causing [...]
Depending on your perspective on the market, the promised wave of foreclosures may have already hit California—but there’s a huge difference between filing for foreclosure and foreclosing, and that difference may be making all the… difference.
RealtyTrac on Thursday released its U.S. Foreclosure Market Report for the third quarter, which shows that foreclosure filings (default notices, [...]
The latest figures from ForeclosureRadar show that the number of distressed filings in California, one of the worst hit states in the country, fell in August.
Notices of default in California, which is the first step in the foreclosure process, dropped from July to 36,396 filings, a monthly dip of 19.1% and a 14.2% decrease from [...]
Statistics suggest some improvement in the housing market, but the good news for homeowners might be just a temporary setback for real estate investors searching for a good deal.
Decreases in the number of foreclosure filings in each state and increases in
prices in many of those same states seem to suggest good news, although the
news [...]
Smart investors are continuing to take advantage of the present foreclosure market. I don’t have an exact figure of how many foreclosures there are in Nevada County, but I just had one of my investors open escrow on two foreclosed homes in Nevada County. With some existing home prices under $200,000 in the county, there [...]
