Fewer Bay Area homeowners received notice of default in July than a year ago, but the improvement is not a sign that the housing crisis is slowing. This drop is due to an increase in short sales and loan modifications, said Daren Blomquist, manager of communications and marketing for RealtyTrac. “It’s because foreclosure-prevention programs are [...]
A 82-unit condominium complex has defaulted on its $35 million loan, which means that a possible foreclosure is at the horizon. In addition to the bank’s lawsuit, another 19 subcontractors who worked on the property have filed complaints against San Rafael-based Monahan Pacific Corp., the project’s developer. These subcontractors demand $2.8 million in unpaid fees. [...]
Californian homes falling into foreclosure have started declining, moreover they managed to reach their four-year-low in Q2, as a result of a more stable housing market as well as policy changes in the mortgage industry, DataQuick reported. The numbers are the following: a total of 56,633 homeowners received notices of default during the April-to-June period, [...]
A Bay Area soldier has got back home for the holidays. The good news for him and his family is that they can really call that property home. A year ago the family was one step away from losing their home of 10 years. Fortunately, the holidays brought their smile back to their faces: they [...]
California State is one among most-hit by the foreclosure crisis. It has been finding a dubious place in the top 10 list, ever since the mortgage crisis rendered thousands of homeowners forfeit their equity to the foreclosure tragedy. The federal government, in association with the State’s administration, is implementing various help-programs in the past. The [...]
There were 3,882 notices of default filed against homeowners in Santa Clara County during October. In addition, 3.689 homes that were scheduled for sale or had the sale cancelled and 2,529 sold back to the bank as a trustee sale. In another county of the Bay Area, San Mateo, there were 1,183 notices of default [...]
The Obama HAMP was created to help a couple of million troubled homeowners in the US. Well, there are around 5.5 million borrowers who are not current on their mortgage and nearly 10% is in the process of foreclosure or are more than three months delinquents and heading to foreclosure. This is what have been [...]
Housing markets in the 9-County SF Bay area are no exception to the prevailing gloom in real estate across the country. Foreclosure properties were flooding the markets as elsewhere for the last few years. Inventory of unsold homes was mounting, as reported month after month, until, of course reaching the peak towards the end of [...]
A group of homeowners from San Jose filed a class-action lawsuit against Aurora Loan Services LLC alleging the mortgage company made them pay thousands of dollars each to have troubled mortgages reviewed by the company. Aurora promised them loan modifications, but the homeowners woke up with their properties foreclosed with little or no notice. The [...]
Many of the Bay Area homeowners can’t say for too long that they really own their condo. They bought the house with a mortgage loan, but they aren’t paying for it, so the auction is about to come. Some of them ended here as a result of the economic situation, they are unable to afford [...]
