Solano County foreclosure activity declined in January, although most of the Bay Area saw a significant increase. Daren Blomquist, director of marketing and communication for RealtyTrac which released a report containing the numbers last week, said Solano County saw a 17% fall in foreclosure posting compared to last year. The percentage of homeowners here who [...]
Looking into the credentials of Silicon Valley – nicknamed as such by the enormous growth of silicon-chip companies – it is rated a high-tech center in the United States, behind only New York Metropolitan and Washington Metropolitan. It is part of the SF Bay Area region, encompassing entire Santa Clara County and other cities like [...]
Corazon Palma is a 75-year old San Jose resident, who has won the first battle against illegal foreclosure proceedings. She reclaimed her home through a court decision against Washington Mutual and Bank of America and won the court decision, because her home was illegally foreclosed. According to the court documents Palma modified her mortgage with [...]
The number of foreclosed properties in the Bay Area repossessed by lenders declined 20% in October from September, as the region was affected by the foreclosure moratorium enacted in September by major lenders. However, this drop is only temporary, and now that most of these lenders have lifted the freeze, which was initiated over reports [...]
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 [...]
As the end of the year is getting closer it’s becoming more and more obvious that the year if 2010 wasn’t the year of home sale transactions. San Francisco Bay Area registered only 6,334 new and resale houses and condos to close escrow last month, which is down 5.4% from 6,698 in August and down [...]
There is a trend in East Bay homes to fall into the category of becoming bank-owned properties, so the nationwide foreclosure moratorium will slow down the number of homes being taken back by the banks, at least for now. In the Bay Area, which is defined by RealtyTrack as Alameda, Contra Costa, Marin, San Francisco [...]
August’s median stood 42.1% below the $665,000 peak in June/July 2007. The lowest point of the post-housing-boom was in March 2009, when the median was $290,000. The median peak to trough plunge was caused by a decline in home values as well as a hige shift in sales toward lower-cost homes, especially inland foreclosures. Foreclosure [...]
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 [...]
