foreclosures: Fraud Factories, MERS, LPS, Forgeries: Rep. Alan Grayson Explains the Foreclosure Fraud Crisis - 10/13/10 09:02 AM
.Red { color: #F00; } This is a multiple-trillion dollar crisis that is reaching the boiling point.   Most Americans are totally unaware of the significance of this crisis. It is much, much, much worse than mere "robo-signers."   Congressman Alan Grayson, who is a layer, has done a 7 minute video explaining the basics of this foreclosure crisis.   

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foreclosures: Administration Officials Reject Idea of National Foreclosure Moratorium - 10/13/10 08:47 AM
As most of you are probably aware of the news about the nationwide moratorium on foreclosures and the sale of foreclosed homes BofA has imposed after it came under intense pressure from a government-run housing-finance giant worried about documentation problems resulted mainly from robo signers, employees who sign hundreds of documents a day, without carefully reviewing their contents. A day later DS News said the idea of a national moratorium was rejected. If you ask me the housing recovery process is taking one step forward then 2 steps back.

 
 
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foreclosures: This Month in Real Estate October 2010 (USA) - 10/08/10 03:17 PM

This Month in Real EstateOctober 2010
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Market Update
The housing market continues its slow recovery without the aid of the now expired tax credit. Sales are slower but growing, and prices remain on par with last year's levels. Interest rates also hit a new historic low, a major factor in helping  keep mortgage payments low, which is expected to spur sales.
The economy shone a bit brighter in September. It grew faster during the second quarter than expected, and companies continued to hire. Experts believe there is now less risk of a double-dip recession. Now, the Federal Reserve Board's … (3 comments)

foreclosures: Price Reductions Rise in September - 10/04/10 01:00 PM
Price Reductions Rise to 26% in September
A recent Trulia report found 26% of homes listed for sale nationwide experienced at least one price reduction in September. The average reduction for price-reduced homes remained unchanged at 10 % of the listing price.
In California, price reductions have increased steadily since the federal home buyer tax credit expired on April 30. Despite this, seven of the States's eight largest cities report price reductions figures below or in line with the national average.
Oakland San Jose Los Angeles San Diego San Francisco Sacramento Fresno Long Beach Furthermore, five of these cities show improvement … (2 comments)

foreclosures: This Month in Real Estate September 2010 - Market Update - Interest Rates - Video - Topics for Buyers & Sellers - 09/24/10 07:34 AM
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foreclosures: This Month in Real Estate September 2010 - 09/23/10 05:27 PM
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foreclosures: House Bill Would Force Lenders to Decide on Short Sales in 45 Days - 09/20/10 01:32 PM
Distressed homeowners looking for a way out of their mortgage that doesn't involve foreclosure may find relief is on the way from a new bill introduced in the U.S. House. The legislation would impose a deadline on lenders to respond to short sale requests, requiring them to return an answer to the borrower within 45 days.
The bipartisan bill, Prompt Decision for Qualification of Short Sale Act of 2010 (H.R. 6133), is sponsored by Reps. Robert Andrews (D-New Jersey) and Tom Rooney (R-Florida).
Lenders have taken a lot of heat for the elongated timelines it takes to get an approval on … (0 comments)

foreclosures: HAMP remains incapable of filling the imminent default gap - 09/02/10 12:35 PM
Wednesday, September 1st, 2010, 4:04 pm
It comes as no surprise today to find that there were 120,351 permanent mortgage modifications done through private-sector (Hope Now) proprietary programs in July, compared to the 36,695 through the Home Affordable Modification Program (HAMP).
What is more interesting is the rate at which these modifications are being converted.
In June, Hope Now was modifying twice as many mortgages as HAMP.
Today's numbers show that this ratio has now increased from two-to-one to three-to-one.
So what does the world of HAMP's commitment to distressed mortgages and foreclosures look like?
Brace yourself (see chart below):

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foreclosures: BofA Co-op Short Sale Program and Wachovia Continues to Disappoint - 08/26/10 08:55 AM
Posted by: jacob on Aug 25, 2010 Tagged in: Untagged 
 
Want to know the scoop in the short sale space?  Here it is.  As per an article released by REO Insider magazine last week, Matt Vernon announced a new Bank of America co-op short sale test program.  The program will include roughly 2,000 homes with BofA serviced loans with one specific loan investor.  B of A has already pre-screened the borrowers / loans and has pre-negotiated the terms with the specific investor (note holder).  BofA pre-screened these borrowers who have been considered for a modification under the Home Affordable Modification … (0 comments)

foreclosures: This Month in Real Estate August 2010 - 08/22/10 05:14 AM
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foreclosures: The Bank Gets a Sweetheart Deal - 07/26/10 11:22 AM
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foreclosures: California Foreclosure Activity Drops - 07/23/10 01:13 PM
California Foreclosure Activity Drops
Cancellations and Time-to-Foreclose increase year-over-year
06/15/2010
Discovery Bay, CA, June 15, 2010 - ForeclosureRadar (www.foreclosureradar.com), the only website that tracks every California foreclosure and provides daily auction updates, issued its monthly California Foreclosure Report for for May 2010. Foreclosure filings, outcomes and inventories dropped across the board from April to May. Foreclosure filings also declined substantially year-over-year with Notice of Default filings down 43.3 percent and Notice of Trustee Sale filings down 35.8 percent. The only significant increases from the prior year were Cancellations, up 141.3 percent, Sales to 3rd Parties, typically investors, up 75.4 percent, and … (2 comments)

foreclosures: This Month in Real Estate July 2010 - 07/21/10 05:01 AM
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foreclosures: Safety for You and Your Home - 07/15/10 07:06 AM
Prescription Drugs It's that time again to remind you not to have prescription drugs visible in medicine cabinets or other readily observed locations while showcasing your home.  This has long been one of the most frequently stolen items from open houses, and it continues today.

Break-ins Reported Thieves are back again targeting homes for sale that are vacant and staged.  In each case a white van was seen in the neighborhood either before or just after the theft was reported. It appears that the thieves are finding targets through attending Open Houses.  
 
Involve the Neighbors  At a staged Richmond property which had … (3 comments)

foreclosures: Home Buyer Tax Credit: Fraud, Errors Persist - 06/26/10 08:16 AM
Even though the Internal Revenue Service beefed up its controls, Uncle Sam has forked over millions of dollars for erroneous claims through the federal home buyer tax credit program.
Roughly 14,100 Americans have received erroneous credits-totalling more than $26.7 million-through the program, the Treasury Inspector General for Tax Administration estimated in a report Wednesday. Notably, more than $9 million in credits went to prisoners who were locked up when they reported buying a house. J. Russell George, the Treasury's inspector general, called the findings "very troubling."

[Slide Show: 10 Cities for Retirement Property Steals.]
"Congress created and modified the home … (2 comments)

foreclosures: Changes That Could Affect Many Buyers - 06/25/10 01:31 PM
Important Changes to Mortgage Underwriting Could Affect Many Buyers
By Jim Dinkel and Ken Trepeta
The real estate industry and especially the mortgage industry have been overwhelmed with changes, regulations and consolidations recently. In the last couple of months, many transactions nationally have experienced delayed closings or worse as a result of the application of new guidelines affecting APR, Good Faith Estimates (GFE), Truth in Lending (TILA) and condo project approvals to name a few.
There is one more issue that is critical for real estate agents, loan officers, and anyone else who deals with consumers purchasing a home or obtaining … (0 comments)

foreclosures: This Month In Real Estate June 2010 - 06/22/10 05:09 PM
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John Giggy (Brentwood Real Estate, Short Sales, Foreclosures, HAFA)

John Giggy

Brentwood, CA

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Brentwood Real Estate, Short Sales, Foreclosures, HAFA

Address: Brentwood, Oakley, Discovery Bay, Antioch, Pittsburg, Baypoint, Byron, Knightsen, Brentwood, CA, 94513

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