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. [...]
The declining trend of foreclosure filings in the State, compared to last year, is reflected in the 9 county SF Bay Area as well. Home prices soared while the number of pre-foreclosures slowed. According to latest statistics on foreclosure activity in California State, for the first 3 months of 2010, the number of default notices [...]
On a perusal of the latest foreclosure and real estate statistics released for the month of March 2010, one cannot but come to the conclusion that the foreclosure activity continues to be high in the 9 county Bay Area. However there are encouraging points though. Home sales in the open market is continuing the below [...]
The foreclosure situation in the 9 county San Francisco Bay area is as worse as it is elsewhere. The distressed home owners are amazed. But there is a short-cut to come out of the melee with some dignity – instead of forfeiting their homes to full-fledged foreclosure and eviction. It is the “short-sale” route which [...]
WASHINGTON, DC — Fannie Mae (FNM/NYSE) today announced it is suspending all foreclosure sales and evictions of occupied properties through March 6 in anticipation of the Administration’s national foreclosure prevention and loan modification program.The company had previously put in place a suspension of foreclosure sales through January and had previously suspended all evictions through the [...]
A housing rescue plan being considered by the Obama administration could strike at the heart of the credit crisis but its scale, complexity, and the potential for controversy poses challenges for policymakers. The plan is due to be announced by President Barack Obama on Wednesday and is expected to break new ground by helping troubled [...]
Mortgage giant Fannie Mae is testing a program to pre-approve short sales in Phoenix and Orlando, two of the areas hardest hit by foreclosures. The goal is to expedite the often difficult short-sale process by Fannie Mae agreeing on a sales price for a home on the brink of foreclosure and the loss it will [...]
It is a common practice that Realtors are facilitating the short sale transactions with the lenders. It is also well known that this is a quite time consuming effort and can easily de-focus the agents and brokers from their core business. In the mean time it is less obvious that the realtors have a fundamentally voulanrable role [...]
Studies and forecasts show that short sales expected to be 20-40% of the real estate transactions in the upcoming year. Who will be facilitating most of these sales? No question the REALTORS. The legality and the logistics of this transactions are often becoming a jungle not only for agents and brokers, but also to the employees of the lenders, not [...]
