ARCHIVED BLOG POSTS
2010
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It happens all too frequently. You get your fully signed around purchase and sale agreement and you begin the process of waiting for the lender to close the loan. You were told at the beginning that everything was fine. You have started to envision how you will spend that commission check. Sudden...
12/20/2010
Newport Beach, CA - The writing has been on the wall for the past six months. The GSE's Fannie Mae and Freddie Mac have been hesitant about postponing foreclosure even when a valid offer was in their hands on a short sale transaction. Then in September Freddie announced that they were going to ...
12/20/2010
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Newport Beach, CA - 2011 is going to get very interesting. Loss severities (the percentage of loss experienced as a result of default) are expected to increase between 5% and 10% on residential mortgage-backed securities in 2011 as loss mitigation costs and foreclosure expenses go up, according t...
12/20/2010
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There was a time not long ago when it seemed as simple as a desire to buy a house. Sure you still had to apply for a loan, but that seemed to be a breeze, even it the person didn't have "it" all together, e.g., many lenders "bent" the rules a little here and a lot there -- remember? Well, now w...
12/20/2010
Newport Beach, CA - You have been worrying about those certified letters from the bank, and their foreclosure attorney for some time now. First there was one saying notifying you of "Default." Then there was a "Notice of Trustee Sale." And now you were notified that the trustee sale completed....
12/20/2010
Newport Beach, CA - December 19, 2010 -- Atlantic City's smallest casino is headed back to court to try and stop its lenders from seizing control of the gaming hall. The Hilton has lost more money this year than any other Atlantic City casino and is now in default of its mortgage. On Sunday, The...
12/20/2010
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Newport Beach, CA - Real estate industry is at present stage the biggest industry which has a larger turn over and very powerful asset for market. People are very much interested in the buying and selling a property and investing their money in the real estate sector. Due to the boom in the real ...
12/20/2010
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Newport Beach, CA - There has been a lot of recent talk about mortgages in negative equity - underwater homes - and the impact on the housing market. In response, First American CoreLogic asked the question: When will these homes start to float? The company estimates that the typical underwater h...
12/19/2010
Newport Beach, CA - (From Supplemental Directive 09-09 Page 4, Paragraph 3) "Borrowers in active Chapter 7 or Chapter 13 bankruptcy cases must be considered for HAFA if the borrower,3 borrower's counsel or bankruptcy trustee submits a request to the servicer. With the borrower's permission, a ban...
12/19/2010
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Newport Beach, CA - Getting second mortgages settled so your short sales can close is a problem with a hundred different faces. As much as you try to identify what obstacle the 2nd is going to present, they throw a new twist to an old theme and you are back to the drawing board looking for a sol...
12/19/2010