Too Many Shoes To Drop In California

The Press Enterprise reports from California. “Foreclosures could continue to depress the Inland economy for years because of mortgages popularized during the housing boom that are starting to haunt homeowners. Already these mortgages, called option ARMS, are showing high default rates [more...]

Date: 2008-09-29 19:19:41

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Are Foreclosures A Good Investment?

Well, sometimes. Okay, most of the time. But not always. Foreclosures: Bargain hunters beware! Myth no ... the loan repaid. They don't want to own the house. A "hard money" lender will foreclose fast and hard [more...]

Date: 2009-01-02 14:51:55

Last Day of California Legislature Session Ends With Passage of Major Bills—But No Budget as Republicans Reject Appeals From Governor of Their Own Party and Democrats

Assemblymember Ted Lieu presenting the most important bill on foreclosures and the sub-prime mortgage mess in ... . The Assembly, at 6 p.m. was the last house to adjourn, after passing dozens of bills that on any other day [more...]

Date: 2008-09-01 17:09:26

The Speed Of The Collapse Has Been Astonishing

Some housing bubble news from Wall Street and Washington. CNN Money, “More than one million homes are now in foreclosure, the highest rate ever recorded, according to a trade group which warned Thursday that number will continue to climb. The Mortgage Bankers Association’s first quarter report showed that a record 2 [more...]

Date: 2008-06-05 18:56:09

As foreclosures increase, fewer people willing to buy them

From The Wall Street Journal:Foreclosures have long been labeled a bargain hunter’s dream and reducing the swelling count is a key part of housing’s ... , foreclosed homes were found with all sorts of problems, from missing pipes and appliances to damage done by previous owners upset losing their homes. Mr. Phillips described holes punched in walls [more...]

Date: 2008-12-18 13:30:00

And If The Promotion Doesn’t Yield A Sale? What’s Next?

It’s Friday desk clearing time for this blogger. “Foreclosure filings in Gallatin County have tripled since 2006, when 37 homes were foreclosed upon ... of losing my house,’ Waldrop said.’ “Not to worry, his brother assured him; Waldrop could always [more...]

Date: 2009-01-16 21:04:08

O.C. homebuying slump ends after 33 months

How the O.C. homebuying slump ended O.C. foreclosures soar to high in July 49 of 83 O.C ... , broker-owner of Santa Ana Realty “Houses are becoming a little more affordable (because prices [more...]

Date: 2008-08-18 16:22:23

The Silver Lining of the Foreclosure Crisis

It may be a bad time to own or sell, but it’s a great time to buy now that house prices are falling ... all over the place, missing fixtures and a galloping case of mold or termites. Don’t discount ... is genuinely a home that can be restored; the money you spend on a qualified inspector is more than worth [more...]

Date: 2009-01-02 22:30:42

Lawmaker proposes giving cops foreclosed homes

The typical mortgage is 30 years. But walk a beat in Atlanta, and that house could be yours in half that time — and for just a little money down.As a solution to metro Atlanta’s foreclosure crisis, a lawmaker plans to propose giving foreclosed ... , who plans to introduce the idea to the board. “Here’s a way to help a group of people who put [more...]

Date: 2009-01-11 17:00:00

Ga. proposal: 15 years could earn cops a homeJanuary 10, 2009

The typical mortgage is 30 years. But walk a beat in Atlanta, and that house could be yours in half that time — and for just a little money down.As a solution to metro Atlanta’s foreclosure crisis, a lawmaker plans to propose giving foreclosed ... , who plans to introduce the idea to the board. “Here’s a way to help a group of people who put [more...]

Date: 2009-01-11 02:45:29

‘Extreme Makeover’ renovated home likely rescued from foreclosure

Photo credit: Sitescape, Inc ... who all have just seven days to totally rebuild an entire house — every single room, plus the exterior and landscaping, according to the program’s official Web site. The Vardon’s had their 980-square-foot house [more...]

Date: 2008-12-15 18:09:57

Foreclosure / Short Sale Mess in Tacoma

We’ve seen plenty of these kinds of articles and news reports about the foreclosure situation down in southern California, ... about the Seattle area: Foreclosures mean work for “trash-out” specialists Contractors who specialize in cleaning ... taking out their anger at this whole mess. … We are very disenchanted with the whole house-buying [more...]

Date: 2009-01-19 15:45:17

Help Me Strip My Foreclosure

Remove Yourself—Candiria Touch what you can’t have While i have what you can’t touch for now My friend, ... and what is a fixture of real estate. In architectural design, it is possible to create construction drawings ... stripped the house before they left. I mention all this because a reader sent me a Craigslist [more...]

Date: 2009-01-20 20:30:53

Ed McMahon Faces Foreclosure

It looks like Ed McMahon faces foreclosure on his 7,013-square-foot Beverly Hills home. Countrywide Financial Corp ... once flooded and subsequently filled with toxic mold. He insists that they gutted the place and got rid of any mold. But that may explain why buyers are avoiding the house, no matter how much [more...]

Date: 2008-06-07 02:48:19

Foreclosures Hurt Pets, Too

Today’s Wiki Wednesday Feature: Who Will Take Care of Abandoned Foreclosure Pets? ( ... just how common it’s become: “Leo Nordine, a Hermosa Beach, Calif., broker who specializes in selling ... chained in a yard, sometimes locked in the house. They’re often emaciated, if they’re alive at all.” [more...]

Date: 2008-06-04 17:00:20

What The Rise And Fall In Housing Has Done

The Ventura County Star reports from California. “Thousands of Ventura County residents were pushed out of their homes last year, and many more were left hanging on by a thread — a situation exacerbated by mounting job losses. In Ventura County, December foreclosure filings surged 37 percent from November and 97 percent from a year ago, [more...]

Date: 2009-01-15 18:16:59

trashout

trashout n. The disposal of the entire contents of an abandoned house. Also: trash-out; trash out ... furniture, children's toys — all the stuff that used to be so easy to buy on credit. Charities don't ... " — for clearing out and cleaning up foreclosed homes. —Brian Feagans, "Debris hints at foreclosures [more...]

Date: 2008-10-09 16:07:32

Incorporating your Foreclosure Investments and DIY Real Estate Forms

You can save a lot of money by selling your home yourself (for sale by owner) or buying a home without the aid of a real estate agent. Here in NJ, real estate agent commissions are usually negotiated to around 4-6%. If you're selling a house priced at $450,000 that's $22,500 which is not an insignificant amount of money, [more...]

Date: 2009-01-12 12:24:09

Fannie Mae: Renters won't be pitched from repossessed foreclosure homes

With government becoming as bloated as that blueberry-colored girl from the Willy Wonka movie, ... of the agreement with renters, Fannie is allowed to make repairs on the houses and list them for sale ... houses were pitched from the properties on short notice when banks foreclosed on the investor [more...]

Date: 2009-01-20 20:50:18

“We had nine lawyers, they had nine lawyers”

Foreclosure-endangered TV personality Ed McMahon on why the much-publicized $7 ... -July 2003 (0) “Panel Finds Mold in Buildings Is No Threat to Most People” (0) ... .2 million settlement over mold in his Beverly Hills house didn’t really go that far, once [more...]

Date: 2008-06-07 17:07:56

At Frontline of Foreclosure Crisis, Counties Go It Alone

Image by: Matt Mahurin With graffiti-scarred walls, ... properties like the Irongate townhouse — the damage left behind by the subprime mess. Unlike banks ... to buy up and repair foreclosed houses. But since the Hope for Homeowners program launched [more...]

Date: 2008-11-24 11:01:40

Foreclosure News for Jan. 12, 2009

Foreclosure News for Jan. 12, 2009 Realtors' Former Top Economist Says Don't Blame the Messenger Wall Street Journal January 12, 2009 On a recent weekday, David Lereah sat in the sunroom of his five-bedroom colonial house. The only sound was the yapping of his dog Maisy. Once one... [more...]

Date: 2009-01-19 17:58:38

“[N]o broad recovery until at least 2010″

From the WSJ: Builders Predict More Housing Pain REAL ESTATE JANUARY 21, 2009 By JIM CARLTON The worst U.S ... . Adding to the woes, he and other economists said, is the likelihood that foreclosures will keep rising — [more...]

Date: 2009-01-21 10:57:47

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