Foreclosure

Foreclosure isn’t a good thing, but knowing more about how it works and the alternatives to it can be useful.

Very Few Mortgage Defaulters Return to the Housing Market Quickly

Very Few Mortgage Defaulters Return to the Housing Market Quickly
November 20, 2012 No Comments »

A recent economic letter written by researchers at the Federal Reserve Bank of San Francisco paints a bleak picture for the future of the housing market. It also puts into question all this “real” recovery talk of late. Despite all ... Read More »

Mortgage Rates, Delinquencies, and Negative Equity All Drop

Mortgage Rates, Delinquencies, and Negative Equity All Drop
November 15, 2012 No Comments »

It sounds like we just hit the housing recovery trifecta, all in one stellar news day. The 30-year fixed fell to its lowest point on record, 3.34%, according to the latest survey from Freddie Mac. That’s down from 3.40% last ... Read More »

Foreclosure Resales Hit Five Year Low in Southern California

Foreclosure Resales Hit Five Year Low in Southern California
November 13, 2012 No Comments »

Are foreclosures going the way of the dodo? Not quite, but they certainly aren’t as common as they once were, if a new report from DataQuick is any judge. The company, which tracks home purchases nationally and in many large ... Read More »

Zillow Now Offers Pre-Foreclosure and Foreclosure Listings for Free

Zillow Now Offers Pre-Foreclosure and Foreclosure Listings for Free
October 25, 2012 No Comments »

If you want to snag a foreclosure property on the cheap, take a look at the new improved Zillow. The real estate listing company announced the launch of its so-called “Foreclosure Center” today, which includes tutorials, buyer and seller guides, ... Read More »

Hold Up! Mortgage Delinquencies Surge in September

Hold Up! Mortgage Delinquencies Surge in September
October 23, 2012 No Comments »

Just when things were looking so rosy, a new report released by Lender Processing Services seems to counter everything. The company, which reports on mortgage delinquencies and foreclosures, announced that the month-over-month change in delinquency rate increased by a whopping ... Read More »

Did Bank of America Offer to Pay Off Your Second Mortgage?

Did Bank of America Offer to Pay Off Your Second Mortgage?
October 1, 2012 10 Comments »

Are you one of the “lucky” ones? Bank of America announced late Friday that it is in the process of mailing roughly 150,000 letters to distressed homeowners, offering to pay off their second mortgages as part of the national foreclosure ... Read More »

Introducing HAFA II: A Quicker Short Sale Process

Introducing HAFA II: A Quicker Short Sale Process
August 22, 2012 No Comments »

The Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, has released details of a new program to expedite short sales. The program consolidates Fannie and Freddie’s current short sale programs, including the original Home Affordable Foreclosure Alternative ... Read More »

FHFA: No Principal Forgiveness for You!

FHFA: No Principal Forgiveness for You!
July 31, 2012 1 Comment »

The Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac, concluded today that principal forgiveness is not the best approach to help homeowners and reduce foreclosures. Over the past several months, there had been a lot of ... Read More »

The Good News and Bad News About Underwater Homeowners

The Good News and Bad News About Underwater Homeowners
May 24, 2012 1 Comment »

An interesting report was released today by Zillow, which noted that despite recent home price gains, underwater homeowners still collectively owe more than $1.2 trillion more on their mortgages than their homes are worth. That $1.2 trillion is shared by ... Read More »

Bank of America Ramps Up Principal Reductions

Bank of America Ramps Up Principal Reductions
May 8, 2012 2 Comments »

It took a while, but Bank of America announced today that it intends to mail out principal reduction offers to some 200,000 homeowners. The first letters should be arriving in mailboxes this week, with most mailed by the third quarter ... Read More »