Q2 2016 saw the fewest foreclosures in California since the Great Recession
California has one of the lowest foreclosure inventories in the nation.
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Tag: underwater
Mortgage default usually the last resort, new study claims
Contrary to assumptions, strategic default is rare. In most cases struggling homeowners with limited ability to pay by and large continue to make payments on their mortgage, regardless of underwater status.
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May a junior lien on a property be extinguished in Chapter 7 bankruptcy when the debt on the senior lien exceeds the property’s FMV?
Bank of America v. Caulkett Facts: A homeowner obtains two mortgages to fund their purchase of a...
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It’s official: high LTV ratio increases foreclosure risk
Our foreclosure problem runs deep.
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Home sales volume remains flat as negative equity wanes, Weekly Statistical Update 12/23/2013
Home sales volume remains flat as negative equity wanes; More underwater homes buoy to marketability; FRM rates and 10-year Treasury Note spread keeps sales volume soft; California home sales volume remains flat
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Reverse eminent domain gains ground in Richmond
Richmond, California, is taking steps to enforce a reverse eminent domain taking of mortgages on underwater homes.
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Jobs – not home prices – heal the real estate market
Both the number of California notices of default (NODs) and foreclosure sales were lower in the fourth quarter (Q4) of 2012 than at any time since 2006. This leads experts to conclude…
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Homeowner mobility declines
Homeowners are becoming less mobile. The long-term average length of occupancy for homeowners nationwide increased from…
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Californians deleverage mortgage debt
Consumer debt decreased by 0.5% nationwide in the second quarter (2Q) of 2012. Much of this...
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Mortgage mods by eminent domain: Be an advocate this time, for a change
San Bernardino homeowners may be blacklisted from future Fannie Mae and Freddie Mac (collectively...
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San Bernardino: an underwater homeowner’s white knight?
A case for one county’s use of eminent domain to help underwater owners, despite anti-cramdown smokescreens launched by the opposition.
Read MoreNegative equity plague prolongs recovery
Large numbers of underwater homeowners in California are hampering a widespread economic recovery, per Zillow. Now, in 10% of Southern California cities, one out of five homeowners with a mortgage owes double the value of their...
Read MoreHARP 2.0 increases refinances
The revamped version of the Home Affordable Refinance Program (known as HARP 2.0) is up and running, nearly doubling the number of refinances it made the first quarter of 2012 –180,000 nationwide – compared to 93,000 in the...
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Shortsales may jar the market awake
Single family residence professionals: what percentage of your deals involve shortsales? 50% or...
Read MoreBofA offers cramdowns with a twisted arm
Do you think BofA’s cramdown offers are likely to extend beyond 200,000 to greater numbers of underwater California homeowners? No (70%, 52 Votes) Yes (30%, 22 Votes) Total Voters: 74 Bank of America (BofA) has begun offering...
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FHFA’s oscillating resistance to cramdowns
“Halt foreclosures,” is the request of California’s Attorney General (AG) to Fannie Mae and...
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FHFA finally gives cramdowns merit
Would the FHFA allowance of principal reductions benefit the real estate market? Yes (74%, 100...
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“The housing recovery is upon us!” – not so fast
Do you think home prices will go any lower than their current average before a sustained recovery?...
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HARP strikes back, but will lenders conform?
How many of your clients seeking to refinance will qualify for HARP 2.0? 10% or less (81%, 59...
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Tax avoidance for discounted shortpays set to expire – are Californians in trouble?
Do you support renewing the Mortgage Forgiveness Debt Relief Act? Yes (80%, 207 Votes) No (20%, 52...
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