Home prices throughout the Inland Empire and Desert Communities decreased again in July as consumers wary about jobs and the economy held back purchases. July home sales in Riverside County dropped 6.8 percent from the same period a year ago, while sales in San Bernardino County fell 7 percent, a
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08/25/2011
Less than 3 percent of mortgage modifications in the first quarter included reductions of the principal loan amount, according to an industry analyst study released this week. Credit rating agency DBRS found that interest rate reductions and capitalization (stacking delinquent balances on top of
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08/23/2011
No more looking over your shoulder after a short sale. California Gov. Jerry Brown on Friday signed into law SB 458, which enlarges the shield against banks pursuing a consumer for the unpaid balance to all junior liens after a short sale. The bill amends CCP 850e, which went into effect on Jan.
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07/16/2011
Yes, there is life after a short sale. Even though it may seem like the end of the financial world for distressed homeowners who have had exemplary credit histories. Even though the money problems may have taken emotional and psychological tolls on you and your family. Things can and do get bette
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05/12/2011
OUR LATEST ARTICLE FROM THE MAY 7, 2011, RIVERSIDE PRESS-ENTERPRISE NEWSPAPER Who pays the agent commissions and seller closing costs in a short sale? Three clients this week approached us independently with this question after being told that they would be responsible to pay their agents and a
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05/08/2011
Low-down conventional loans are back! After years of tighter lending requirements, a private mortgage insurer is allowing loans of up to 95 percent loan to value in "distressed markets" for borrowers who have credit scores of at least 720. PMI Mortgage Insurance Co. issued the new requirements th
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05/04/2011
Here is our latest article to appear in The Riverside Press-Enterprise. Short sales continue to increase in the Inland Empire and around the country as consumers embrace the benefits and banks ramp up operations to handle them. The HousingPulse Tracking Survey released this week indicates distres
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04/30/2011
If potential home sellers didn’t already have enough justification to get their homes on the market right now, before prices drop further, new statistics may push them to take action quickly. Home sale statistics and economic forecasts paint a pessimistic picture for property values, and possibly
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04/27/2011
Our latest article appeared in the March 26, 2011, Riverside Press-Enterprise. A homeowner having trouble with their mortgage payment asked us this week whether their bank would allow them to sell their home. It’s an odd question when you think about it, but it’s also a common question these day
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03/26/2011
After four years of falling property values, housing is among the most undervalued assets relative to today's income, say analysts from research firm Capital Economics. Housing was 21 percent undervalued, compared with disposable income, in the fourth quarter of 2010, according to Capital Economi
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03/08/2011
