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Short sales continued to soar in January, reaching their highest level in California in three years. The California Association of Realtors reported in its Pending Homes Sales Index that the number of short sales increased from January last year and also from the previous month. A short sale is a real estate transaction in which a homeowner sells a property for less than is owed on it and the lender agrees to discount the payoff.
Statewide, short sales accounted for 23.8 percent of all homes in escrow, up from 22.2 percent a year earlier, CAR reported. But short sales (0 comments)
Is HAMP working? Loan-mod program nears milestone - 02/24/12 08:45 AM
Nearly 1 million homeowners have received a permanent modification through the Home Affordable Modification Program, far less than originally anticipated, according to figures released this week by the U.S. Treasury Dept. HAMP, the Obama government program that promised to modify up to 4 million home loans when it launched in April 2009, restructured mortgages for 930,000 homeowners as of the end of 2011, Treasury reported. In Riverside-San Bernardino counties, 47,426 (5.1 percent) permanent HAMP mods had been completed, with 43,253 still active at the end of 2011. Among major metropolitan areas, Riverside-San Bernardino was No. 5 on the list for total (0 comments)
Standard Sale: 4716 Oakwood Pl, Riverside, CA 92506 -- $224,900 - 02/09/12 06:15 PM
Standard Sale: 4716 Oakwood Pl, Riverside, CA 92506 -- $224,900 Alert your family and friends. This is a rare chance to snap up a great family home in the historical Woods Streets section of Riverside. This one-family home has been lovingly cared for and is ready for a new family to plant their roots. It's located on a quaint, tree-lined street, far enough away from main boulevards to afford privacy, but close enough for commuters to jump on the freeways in the morning. The kitchen has custom cabinetry and a beautiful O'Keefe and Merritt stove that could be the centerpiece of (0 comments)
Home buyer satisfaction highest with short sales, survey reveals - 02/04/12 07:51 PM
Homeowners who buy short sales are the most pleased with their purchases, according to a nationwide survey released this week. Eighty-three percent of homeowners who purchased a short sale were happy with their decision, topping satisfaction levels of all other types of purchases, the study showed. Every respondent who was satisfied said price appreciation was the No. 1 reason. Online real estate marketer HomeGain surveyed 1,400 families nationwide to gauge their satisfaction with home ownership. Overall, 72 percent of homeowners were happy owning a home. “… In spite of declines in the values of homes nationwide, satisfaction among homeowners remains high (0 comments)
More than 25% of homes in the United States have negative equity. Foreclosure Season is expected to peak in mid- to late 2012, so the problem will only grow.
Many of our friends and clients in this situation are afraid and embarrassed. But they shouldn't feel that way. Everyone knows someone facing this problem. The key to alleviating the problem is knowing what to do, and then taking action.
We are Real Estate Professionals committed to helping people in just this situation find relief through any of the 10 alternatives to foreclosure. In this forum, we'll help guide distressed homeowners through the crises and into peace of mind.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.