For Shadash - very few home purchases around the coast were financed with FHA, but when Trump makes a big deal out of cancelling the Biden gravy train, it will have repercussions. A free article from the WSJ: The problems began when the Obama administration eased...
Registration for the San Diego County Tax Sale ends tomorrow! Of the 396 properties that will be auctioned off between March 22-27, this one is the most exciting. The owner had cashed out $1,460,000 back in the heyday of 2007-2008, and they were in foreclosure in 2020...
The real estate market was boisterous in last half of 2020, which made it easy to predict that once we got past the election and into the new year we'd probably see the Greatest Real Estate Frenzy Ever. Let's use February 22nd as the day the frenzy really kicked in....
Thanks to KCM for providing this report: According to the latest report from Black Knight, Inc., a well-respected provider of data and analytics for mortgage companies, 6.48 million households have entered a forbearance plan as a result of financial concerns brought...
It's costing the taxpayers more than $7 billion, but nobody in government wants to be the one who foreclosed or evicted people during a pandemic. I'd guess that a Covid loan-modification program is coming next: Today, to help borrowers at risk of losing their home due...
Lenders learned their lesson last time - instead of foreclosing on non-payers and risk losing money, it's better to extend and pretend. There won't be a time coming where we are flooded with REOs....ever again: Mortgage forbearances for homeowners affected financially...
Hat tip to Susie who sent in this article about a law recently passed in California: The new rules apply to one- to four-unit properties sold at foreclosure auctions. If an investor wins one of those homes at auction, then people who want to live in it, as well as...
Another story demonstrating how free enterprise is being squeezed: California is taking steps to avoid a repeat of the conversion of thousands of single-family homes from ownership to rental properties as occurred during the Great Recession. In late September, the...
This house has a history - it was once the family compound for Alaska Airlines! It was foreclosed in 1994 when the lender received no bids and took it back for the balance owed of $6,372,931 - and they sold it for $3,350,000 six months later. It was then resold for...
Readers have wondered about the story of the billion-dollar property being bought for $100,000. It was the lender (who was the previous owner) who got the property back, and who is now in position to make a tidy profit on their original $45 million mortgage: On...
