These homes are in default on loans and have been scheduled for auctions.
Homes facing foreclosure in 17 cities is a post from: Mortgage Insider
Archive for Defaults & Foreclosures
Broker: No tsunami of repo’d homes to hit market
While the distressed share of the Orange County housing market continues to grow at a quick pace, it’s unlikely that all the properties will come on the market at the same time, says Steve Thomas of Altera Real Estate in his latest bi-weekly report of the local real estate market.
He says:
“This shadow inventory has to be worked through, but [...]
Broker: No tsunami of repo’d homes to hit market is a post from: Mortgage Insider
Mortgage-protection bill sent to governor
The California Assembly voted 49 to 14 today to approve a Realtor-backed measure expanding protections for homeowners who have refinanced their mortgages, according to the California Association of Realtors.
The bill, SB 1178, now goes to Gov. Arnold Schwarzenegger’s desk. If signed, the law would take effect in June 2011.
The association didn’t say whether the governor [...]
Mortgage-protection bill sent to governor is a post from: Mortgage Insider
Homes facing foreclosure in 17 cities
First, in recent foreclosure news:
Study: How to stop unnecessary foreclosures
Why so many are playing debt ‘roulette’
Every week, homes throughout Orange County are scheduled for foreclosure auctions. The owners can be millions of dollars in debt, or owe just a few thousand.
Auctions are frequently postponed. But homes in foreclosure or put on the market as short sales [...]
Homes facing foreclosure in 17 cities is a post from: Mortgage Insider
Study: How to stop unnecessary foreclosures
The Center for Responsible Lending in a report this week urges policy makers to avoid what it deems to be unnecessary foreclosures by taking these steps:
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Require mortgage servicers to fully consider loan modification applications before starting the foreclosure process. That’s the heart of California bill SB 1275, which was passed by the state Senate and now is before the [...]
Study: How to stop unnecessary foreclosures is a post from: Mortgage Insider
O.C. defaults up, foreclosures down
Lenders seized fewer homes in July for a third straight month, repossessing nearly 10% fewer homes than in June.
Meanwhile, default notices filed against homeowners who have missed three or more house payments increased 9% last month from June’s levels.
Both numbers, however, were down significantly from a year ago, apparently as lenders either seek alternative means [...]
O.C. defaults up, foreclosures down is a post from: Mortgage Insider
Why so many are playing debt ‘roulette’
More and more people out there are not paying what they owe, whether it’s the mortgage check for this month or a home equity loan from a couple of years ago when they were feeling flush enough to splurge on cars, boats or whatever they wanted.
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Are there no consequences?
One foreclosure expert says they seem to come only from ”the [...]
Why so many are playing debt ‘roulette’ is a post from: Mortgage Insider
Homes facing foreclosure in 16 cities
Every week, homes throughout Orange County go to foreclosure auctions. The owners can be millions of dollars in debt, or owe just a few thousand.
Often these homes revert to the lenders, who eventually put them back on the market. Sometimes the homes are bought by investors and resold.
Foreclosures affect more than the homeowners involved. They [...]
Homes facing foreclosure in 16 cities is a post from: Mortgage Insider
Homes facing foreclosure in 17 cities
First, in recent foreclosure news:
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Short sales top 700 in June
Bank-owned Newport Beach home sells for $9 million
Every week, homes throughout Orange County go to foreclosure auctions. The owners can be millions of dollars in debt, or owe just a few thousand.
Often these homes revert to the lenders, who eventually put them back on the market. Sometimes [...]
Homes facing foreclosure in 17 cities is a post from: Mortgage Insider
Banked-owned Newport home sells for $9 million
A waterfront Newport Beach home that reverted to the lender in May at $7,790,000 and went back on the market at $10,900,000 has sold for $9,050,000.
The 5,000-square foot, Cape Cod-style house at 2706 Bayshore Drive has 4 bedrooms and 6 baths and sits on a 7,026-square foot double lot.
The property is behind a guard gate and 2 [...]
Banked-owned Newport home sells for $9 million is a post from: Mortgage Insider
