Ventura County Distressed Real Estate Of the 3289 homes (Single Family and Condos/Townhomes) in Ventura County, that sold in the last six months, 1737 have been distressed properties or almost 53% percent of home sales. Those figures come from VCCAR MLS, these statistics do not factor in Deed in Lieu properties which do not post [...]
Mortgage Rates Move Upward
August 26, 2011 By
Mortgage Rates Move Upward Fixed mortgage rates edged up this week from their lowest levels in decades. The average rate on 30-year fixed mortgage rose to 4.22 percent per Freddie Mac on Thursday. That’s up from 4.15 percent last week, the lowest level on records dating to 1971. The average rate on the 15- year [...]
Time Frames after Foreclosure or Declaration of Bankruptcy?
August 25, 2011 By
Time Frames after Foreclosure or Declaration of Bankruptcy? If you are wondering what the time frame is after you have closed a short sale, foreclosed, did a Deed in Lieu or declared Bankruptcy, find out by clicking on the link below. Foreclosure BK Short Sale Seasoning Kathy Stoltman DRE #01391434 805-746-1793
Banks would rather participate in a short sale than foreclose on a property.
August 23, 2011 By
It’s no secret that banks would rather participate in a short sale than foreclose on a property. In fact, Moody’s Investors Service reports that in August of 2009, short sales accounted for 8% of the liquidation of distressed properties. Now, in the summer of 2011, short sales account for 25% of the liquidation of distressed [...]
Mortgage Interest Rates
August 22, 2011 By
Mortgage Interest Rates With the downgrade of the Country’s debt rating by Standard & Poor’s, many experts thought mortgage rates would start climbing, however interest rates declined to record lows thefollowing week. Then, the Federal Reserve made a statement that they would keep interest rates close to zero for another 2 years, but that [...]
Servicers’ Policies on Foreclosures in Bankruptcy Courts Being Examined
August 10, 2011 By
Servicers’ Policies on Foreclosures in Bankruptcy Courts Being Examined Eleven mortgage servicers recently received letters from two senators inquiring about their policies regarding foreclosures in bankruptcy courts. Sen. Patrick Leahy (D-Vermont), chairman of the Senate Judiciary Committee, and Sen. Richard Blumenthal (D-Connecticut), a member of the committee, sent the letters after a review by the [...]
Mortgage Rates Drop to Lowest of the Year
August 8, 2011 By
Freddie Mac released the results of its weekly rate survey Thursday, showing mortgage rates have dropped sharply over the past few days amid falling bond yields and signs of a weaker-than-expected economy. The 30-year fixed-rate mortgage has declined to its lowest level for 2011, while both the 15-year fixed and 5-year adjustable-rate mortgage (ARM) [...]
Bill Introduced to Support Foreclosure Rentals
August 4, 2011 By
The House Financial Services Committee is considering a bill to ease the pressure that unsold inventories of vacant, foreclosed homes are putting on the housing market. The Neighborhood Preservation Act (H.R. 2636) would authorize FDIC-member banks, Fannie Mae, and Freddie Mac to enter into five-year lease agreements to rent REO properties back to the [...]
New short sale law in California SB 458
August 1, 2011 By
Under a new state law, any lender who agrees to a short sale, which by definition will yield insufficient funds to cover the outstanding loans on a property, must accept it as payment in full for all loan balances. That is a good thing for upside-down homeowners who need to sell, says the California Association [...]
The Truth about Mortgage Rates
February 10, 2010 By
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The best rumors have the longest staying power, and the untruths about the connection between Bank of Canada interest rate cuts and mortgage rates is a prime example. Why? Well, though Bank of Canada interest rate cuts do affect the financial industry, they do not affect every segment of the financial sector; some segments are directly affected, [...]
