Search San Diego County Foreclosures & Short Sales Fannie Mae beginning March 1st and and Freddie beginning February 1st will begin implementing “forbearance” programs on loans either owned or securitized. It is mandatory for servicers to forbear a homeowner in the even of a job loss for 6 months without advance permission. The servicer will… Read More
Wells Fargo Chase Foreclosures
January 24, 2012 By Leave a Comment
Search San Diego County Foreclosures & Short Sales Wells Fargo and Chase are expediting foreclosures by 100 days in the 3rd quarter of 2011. “Servicers completed their robo-signing reviews and are no longer holding up foreclosure sales, which is clearing out their pipelines somewhat,” according to the Moody’s report. “Chase and Wells decreased their foreclosure… Read More
Mortgage Delinquencies Leading To Short Sale & Forecloure
December 13, 2011 By Leave a Comment
2011 Quarter 3 All Mortgages: 4.43% in Foreclosure 8.2% in Default (30 days + late) 12.63% Total Default Prime Mortgages: 2.56% in Foreclosure 4.49% in Default (30 days + late) 7.05% Total Subprime Mortgages: 10.82% in Foreclosure 21.78% in Default (30 days + late) 32.6% Total Default FHA Mortgages: 3.27% in Foreclosure 12.66% in Default (30 days… Read More
How Many Days Before Foreclosure?
November 2, 2011 By Leave a Comment
Loans in foreclosure have been delinquent an average of 624 days — a record high, according to Lender Processing Services’ September report. The time loans spend in foreclosure continues to increase. For example, 40 percent of home owners with loans in foreclosure have failed to make a payment within two years, and 72 percent of… Read More
San Diego Short Sales Help Stabilize The Market
October 20, 2011 By Leave a Comment
Bloomberg recently reported that we may see an increase in home prices from what they call an unlikely source. Short sales or properties that are in default prior to going into foreclosure. The 2nd largest U.S. mortgage brokerage stated, “There has been a “dramatic shift” in banks’ willingness to sell a property for less than… Read More
Foreclosure Filings Down, However New Default Notices Up 14%
October 14, 2011 By Leave a Comment
Realty Trac reports foreclosure filings dropped from August to September 6% which is a 38% decline from September 2010. “While foreclosure activity in September and the third quarter continued to register well below levels from a year ago, there is evidence that this temporary downward trend is about to change direction, with foreclosure activity slowly… Read More
San Diego Loan Modification Class Action Mass Joinder Lawsuit
September 30, 2011 By Leave a Comment
Search San Diego County Foreclosures & Short Sales Praying on desperate San Diego homeowners who were looking for a last-ditch option to stay in their homes, attorneys and law firms have mailed out 2 million mail pieces in at least 17 states charging homeowners for participations against their lenders . The CA Department of Justice… Read More
Bank Foreclosure In San Diego
September 27, 2011 By Leave a Comment
A Fed Official John Walsh, of the Comptroller of the Currency, said 14 major banks will be reaching out to borrowers who may have been wrongly foreclosed upon and are fixing their foreclosure protocols over the next year. 4.5 million foreclosures from 2009 and 2010 are being looked at by independent consultant. In this process… Read More
A Fed Official Reports The Housing Market Is Severely Out Of Balance
September 6, 2011 By Leave a Comment
The “severely out of balance” housing market is greatly hampering the nation’s economic recovery, and solving the supply-and-demand issues in the housing market needs to be an “immediate priority,” Elizabeth Duke, member of the Board of Governors of the Federal Reserve, said late last week to the Federal Reserve Board Policy Forum during a speech,… Read More
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