Although 2011 began with a high inventory of foreclosures, Marin County foreclosures slowly declined in the second quarter and mortgage defaults also dropped, according to figures released this week by Bradley Real Estate. “This may be the point where we look back and say it’s starting to go in another direction,” Robert Bradley, president of [...]
It looks like we witness a new era in foreclosures: the era of lenders foreclosing on banks. This is based on a situation that happened recently in Sacramento: Intra-Pacific Commercial Inc foreclosed on a property in South Sacramento from Westamerica Bank. Westamerica Bank became the owner of the land through a series of events, including [...]
The number of of notices of house repossession showed a significant increase and residential real estate experts in the San Francisco Bay Area are worried about more mortgage trouble that could fluid the market in the area. According to market data, the number of delinquent borrowers who received notices of house repossession reached the 20,000 [...]
Foreclosure can be the result of irresponsible money handling or the result of a financial crisis. A recent report published by TransUnion shows that many homeowners who defaulted on their mortgages during the years of the economic breakdown subsequently proved to be responsible consumers. “Certain consumers who defaulted on a mortgage in the recent recession [...]
Although the bank foreclosed on her home, Tanya Dennis a former East Bay school principal took it back. Wells Fargo foreclosed on Tanya’s home after two years of hard negotiations. But Tanya came up with a solution: she called a locksmith, who helped her to break into her South Berkeley home of 27 years. The [...]
It looks like the spring buying season is on: million-dollar home sales in San Francisco and Silicon Valley were up as the Bay Area’s luxury housing market continued a strong turnaround in the new year, according to a new report issued by Coldwell Banker Residential Brokerage. A total of 215 homes were sold for more [...]
The foreclosure crisis doesn’t looks like reaching its end soon, as banks foreclosed hundreds of troubled homeowners in March. And the big problem is that the whole foreclosure process takes almost a year to complete. This is the longest time since the housing crisis began. ForeclosureRadar published its report about the foreclosure activity saying that [...]
California courthouse steps get filed with investors and other interested buyers every weekday across the state. Now the FBI investigates whether some real estate speculators are illegally rigging bids for these sales. “Last week, the FBI conducted interviews and executed search warrants through the entire Bay Area as part of a long-term investigation of anti-competitive [...]
"There is a backlog of inventory of homes that are in the process of being foreclosed, or are already foreclosed and are yet to be listed. There is a lot of inventory that has yet to hit the market," said Faramarz Moeen-Ziai, a mortgage banker with San Ramon-based Bank of Commerce Mortgage. "Total properties receiving [...]
The number of bay Area homes that were in some stage of foreclosure was declined almost 5% in 2010, a better showing compared with the national market. Looking back to 2010 and analyzing these numbers we can say that this is an encouraging sign in this 4 year old foreclosure crisis, but high unemployment rate [...]
