The foreclosure epidemic is wrecking havoc on US housing markets, especially California where the San Francisco Bay Area of 9 counties is located. Tens of thousands residential properties are foreclosed; deserted; walked-away from and are lying uncared for, bringing a shame for the country. Apart from this, there is another woe– reduction in property tax [...]
On the one hand the increase in unemployment rate is pushing foreclosure crisis into deeper trouble, experts say, and pressurizing government to announce foreclosure mitigation programs and on the other the budget cuts in Bay Area counties cause the reduction of staff strength and increasing unemployment. This maze-like situation is brought to light by the [...]
According to the latest statistics released by National Association of Realtors, it looks that the housing bottom is slowly vanishing. The report for the first quarter of 2010 says home prices in metro areas show an increase from what they were a year ago and most of the US States show healthy gains in volume [...]
Foreclosure Radar, a Discovery Bay company, reports that foreclosure filings have come down by 30 percent in April, compared to same time last year and this is a strong sign that the housing bubble is easing up, if not altogether vanished. The foreclosure activity for California as a whole is showing a decline by 41 [...]
The Veteran Affairs Department takes possession of the properties defaulted by debtors who purchased residential properties with VA secured loans, after paying the mortgage lenders their balance in full. These VA foreclosure homes are considered best opportunities by investors since the discounts available on these foreclosed homes are considerable – from 10 to 50 percent [...]
In the 9 county San Francisco Bay Area, the fluctuations recorded in the housing market are worth watching, since they are the indicators for both sellers and home buyers. While home sales are up, the participation of foreclosure properties in home sales shows a downward trend. The total home sales in March, in all the [...]
Short Sales is the way out for a borrower-home owner to get out of the foreclosure tragedy permanently – this is what outwardly believed by people caught in the foreclosure crisis. But in real life experience, a Short Sale is a tug-up war between the borrower and lender and sometimes including the second mortgage holders. [...]
There is yet another proof that the foreclosure mitigation plans of the government have had little effect – the foreclosure activity report for March in Santa Clara County of the Bay Area, records a 72 percent jump from last year. The federal government released last year, The Home Affordable Mortgage Program (HAMP), with the advertised [...]
