Sept 5 - Stockton Record - CLOSED listing real estate transaction for Aug 3-Aug 10 from information compiled from County records: Total sales: 144; Sales identified as Banks or REO-type: 67, with 42 different firms selling (top 3: Federal National Mortgage-13; Wells Fargo-11 ; 2-sellers with 3 ea ) New Homes: 4
Side note: 11 of the closings were Private Trust single sale transactions.
Focus on Lodi: Total: 12; REO: 9; New: 0
Sept 4 - Washington, McClatchy Press via Stockton Record - "Home woes may affect children's success in school" - Eric Rosengren, President of the Federal Reserve Bank of Boston told attendees at a conference on neighborhood stabilization, "A foreclosure is likely to mean not only the loss of a home, but also a disruption in where, or whether, kids are in school." He went on to express his personal view that too little focus is being placed on community problems.
Sept 4- Stockton Record- Jennie Rodriguez - "Latinos hit hardest by state foreclosure crisis" - "In excess of 2.4 million Americans are expected to lose their homes to foreclosure this year." This sobering statement was followed by observations from the report "Dreams Deferred: Impacts and Characteristics of the California Foreclosure Crisis" produced by the Center for Responsible Lending, a non-profit, non-partisan research and policy organization. http://www.responsiblelending.org/california/ca-mortgage/research-analysis/california-foreclosure-crisis.html The report asserts that 48% percent of foreclosures have been made up of Latino households. These household were more likely to have higher-cost subprime loans with a higher risk of default.
Sept 4 - Stockton Record - "Ornelas Chosen" - Carol J. Ornelas, CEO of Visionary home Builders has been selected as one of 40 housing leaders to participate in the Neighbor-Works Achieving Excellence in Community Development program in collaboration with Harvard University.
Sept 7 - Baltimore Sun via Stockton Record - "Refinancings soar as mortgage rates plunge" - The Mortgage Bankers Association reports in August that refinancing applications are up 26 percent in the last four weeks, accounting for 82 percent of all mortgage applications. The article asks "Should You Refinance" and provided this link www.bankrate/com to see if refinancing is worthwhile.
Sept 8 - Stockton Record - Dana Nichols - "Calaveras dissolves half of subdivision" - in San Andreas, County Board of Supervisors reverse approval for part of a subdivision. The procedure, which is very rare, was not without dissent, passing with a 4 to 1 vote.
Sept 11 - Lodi News-Sentinel - Melanie Pennino - "What to consider when buying a fixer-upper" - President of the Lodi Association of Realtors presents a wide variety of every-day issues when considering the purchase of a fixer property.
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