Do You Believe California Is Better??
Los Angeles, California
The numbers don’t lie, and if you think that California real estate is better check out the information below, and you determine for your self.
Every one knows of the hardest hit states in the country through the foreclosure crisis has been California.
California Pre Foreclosures have been consistently high in Los Angeles County, which has 3.08 percent of its households in foreclosure; Orange County has 3.42 percent of families in foreclosure, followed by San Diego at 4.26, San Bernardino with 7.31, and Riverside is still first with 9.27 percent of families in foreclosure.
With Los Angeles Pre Foreclosure down, the outlook for the region is positive you would suspect, as the area has seen foreclosure rates decline on average 25 percent from the November 2008 to November 2009;however we have not seen the eye of the storm as of yet.
The cities with the highest numbers of Notice of Default and Notice of Trustee Sales are Los Angeles (1120), San Diego (1067), Riverside (717), and Corona (505).
Jeff Coga, a short sale investor in Southern California pulled local data, and it clearly showed over 20,000 notice of defaults, and over 31,000 trust deed sales set between January- March. This is a frightening number as it could even be higher as the holiday Moratorium is now officially over today 1/04/2010.
Bernie Germani, another short sale investor in Southern California said ” that 2010 will be no different than 2009 as far as the real estate market in California. We are still declining, and I don’t care what the media tells you, We Aren’t On A Recovery Road Yet. The option arms that are going to adjust this year, and next year we will see many many new foreclosures, and these are good credit borrowers. Don’t let the media trick you into believing we have the bottom of the market.”
Written By:
Susan Park
Popularity: 34% [?]
Trigger Leads Can Cost You Business and Referrals
Did you know that the credit bureaus sell your clients’ personal information? It’s true! The same agencies that possess your clients’ most vital credit information will flag the files of those applying for home loans and sell their personal information as leads to the highest bidders.
With a price tag of $25 to $100 or more, [...]
Is House Flipping Making a Comeback??
Four years after the collapse of the U.S. housing bubble, flipping homes is back in fashion.
Jeff Coga, a Los Angeles, California real-estate investor, learned late in the morning of Oct. 28 that a never-occupied custom house on the northern fringes of Los Angeles County a beautiful property was going up for auction around noon the [...]
Do You Believe California Is Better??
Los Angeles, California
The numbers don’t lie, and if you think that California real estate is better check out the information below, and you determine for your self.
Every one knows of the hardest hit states in the country through the foreclosure crisis has been California.
California Pre Foreclosures have been consistently high in Los Angeles County, [...]
Attn: California Realtors We Want Your Short Sales
To All California Realtors/ Investors/ Wholesalers/ whomever:
California Revitalization Group is in need of your short sale listings:
My name is Bernie Germani, I work with a group of CASH BUYERS and were interested in working with you and your team, we would like to purchase at least 5-10 Short Sales each and every month, we can [...]
Mortgage Crisis All Over Again?
Well, not quite that drastic. Thankfully, Governor Schwarzenegger just signed Senate Bill 94 into law yesterday. The Bill’s measures were to prevent loan modification companies from taking up front fees from homeowners who are in distress in return for modifying the terms of their loan. These companies were charging up to $4,000 for their services.
Now, don’t get [...]
“A Step In The Right Direction…But Don’t Push Your Luck.”
Barbra Streisand obviously wasn’t singing about Bond prices or interest rates in her 1980’s song. But those lyrics were fitting last week when the Federal Reserve stepped in with more buying of Mortgage Backed Securities (MBS), helping Bond prices recover from news of a weak Treasury Auction. Overall, home loan rates bounced around last week [...]
Los Angeles, California:
Mortgage finance companies Fannie Mae and Freddie Mac are suspending foreclosures and evictions for about two weeks in a temporary break for borrowers during the holiday season.
The suspension, announced Thursday by the government-controlled companies, runs from Saturday through Jan. 3. “No family should have to face the prospect of being evicted during the holiday season,” Michael Williams, Fannie Mae’s chief executive, said in a statement.
Earlier Thursday, Citigroup Inc. announced a 30-day suspension of foreclosures and evictions, affecting about 4,000 borrowers. Fannie and Freddie did not estimate how many homeowners would get this grace period.
Last winter, most major lenders suspended foreclosures while the Obama administration developed its $75 billion loan modification program. But foreclosures picked up again after those suspensions lifted.
Jeff Coga, said “I’m glad to hear that many families will at least have the opportunity of another Christmas at home. Most of the families have already endured so much agony, and now they can enjoy the Holidays with their friends, and family.”
Bernie Germani, a short sale investor in Southern California said “He personally knows of siutations where the homeowner was notified the foreclosure was postponed until further notice, and Bernie said some of these familes cried with joy that they could stay through the holidays.”
Written By Susan Park
Popularity: 43% [?]
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