Bank of America is sending out emails confirming that they are participating in the HAFA program, and linking to the N.A.R. description: HAFA Provisions Complements HAMP by providing a viable alternative for borrowers (the current homeowners) who are HAMP eligible but...
From our friends at the W-S-J: The struggling housing market appears as if it will sustain less damage than expected this year from a spike in the monthly payments on hundreds of thousands of exotic adjustable-rate mortgages. The number of such loans scheduled to...
From NMN: The SwapRent concept has been slow to find traction and faces some challenges, but its potential benefits make the case that there may be hope for it yet. Among a host of benefits that could be realized from its large-scale implementation is its ability to...
From the U-T: WASHINGTON -- With the Obama administration and private lenders now actively considering mortgage principal-reduction programs to help financially distressed homeowners, the Internal Revenue Service has issued a new advisory to taxpayers who receive --...
It looks like servicers are coasting into the HAFA/short-sale era, which officially begins April 5th. Here are the foreclosure stats from the last 12 weeks: My guess? The HAFA package will encourage borrowers to pick a lane - either loan modification or short-sale. ...
From NMN: A Rumson, N.J., company is giving underwater borrowers a reason not to walk away from their homes, a move that could help prevent further deterioration in the value of a sizable chunk of the problem loans and properties still bogging down the market. The...
Kelly at the Voice of SD reviews the current market conditions in the San Diego real estate market at this link, here's an excerpt: There were 9,243 active homes and condos for sale on the Multiple Listing Service on Tuesday, according to Klinge. That number pales...
Julie brought up the mark-to-market accounting requirement for banks. I don't think the banks worry much about marking to market. Of the 43 Countrywide/B of A listings I've sold, I can't think of one of the foreclosed mortgages that was actually owned by them. CFC...
San Diego County defaulted properties (thanks foreclosureradar!):
Yesterday Sean saw these NSDCC January numbers posted here: REO resales on MLS: 21 Short sales on MLS: 14 Trustee sales, REO: 32 Trustee sales, bought by 3rd party: 18 Trustee sales, cancelled: 56 and he asked about the cancelled trustee sales - how do they break...
