Are long-time owners, mostly empty-nesters or elderly, finally moving on? Or is it more of the recent peak purchasers who are cutting loose? Of those who are selling now, when did they buy? A check of the August transactions in North San Diego Couty's coastal region...
From NMN: It has been mind-blowing to find out that lenders and servicers have been offering defaulted borrowers up to $45,000 to work with them in a variation on the old Cash for Keys program. But sessions at the recent SourceMedia Loss Mitigation Conference in...
In spite of the exemption-of-taxation-on-debt-relief expiring at the end of 2012, new short-sale listings in San Diego County are dwindling: Month # of New SS Listings Avg. LP $/sf Jul 11 966 $195/sf Jun 12 856 $191/sf Jul 12 778 $195/sf Apparently those in the...
Hat tip to T&W for sending this in from dsnews.com: Rep. Jerry McNerney (D-Stockton) recently introduced a bill to speed up the short sale process by requiring subordinate mortgage lien holders to make a decision on a short sale within 45 days. McNerney’s bill...
If you had a big enough family and entourage, you could really blow through some dough these days. Or maybe this is purely a strategic default?
jd asked, Jim, Do you have any recommendations for homeowners* who are under water? *Homeowner current on payments, didn't buy "too much" home, but neighborhood is collapsing around them" It depends if you want to move or not. 1. If you don't want to move. All you...
From MND: A Georgetown law professor is proposing that a Resolution Trust Corporation (RTC) like entity might be the key to getting the housing market back on track. In Clearing the Mortgage Market through Principal Reduction: A Bad Bank for Housing (RTC 2.0) Adam J....
Bank of America now requires all parties (sellers, buyers, and both agents) to sign this disclosure: B of A Short Sale Buyers-Disclosure-Addendum Excerpts from Page 3, regarding the agents: Licensee representing Seller acknowledges and agrees that, in his or her...
They got us right where they want us. From HW: The negative equity problem may actually be pushing up home prices at the bottom of some of the hardest-hit housing markets, according to a report from CoreLogic. The national supply of unsold homes dropped to 6.5 months...
A bad employment report will hopefully provide some relief for buyers, here's why: 1. For the sellers who are waiting to list because they think the economy is getting better, hopefully a bad jobs report will cause them to think otherwise. The economy isn't stable...
