11 Articles match "Associated","California"

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• Realtors '07 Forecast Looks Promising for Future Foreclosure Activity
  
  If California’s economic indicators stay at their present course, 2007 should be a very good year for investing and purchasing foreclosure properties at bargain prices. At Wednesday’s Opening Session of California Realtor EXPO 2006, Leslie Appleton-Young, Chief Economist for the California Association of Realtors, presented her housing forecast for next year , calling for the state’s median home price to drop for the first time in 10 years and the pace of home sales to continue to decrease. LONG BEACH, Calif. — The CAR forecast also calls for a 2 percent drop in
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Ed McMahon Fighting Foreclosure
  
  million loan for a home in Beverly Hills, California. The Hollywood dream home has six bedrooms, five bathrooms and is located on a hilltop and is part of a gated community called “ The Summit ,” according to the Associated Press . Ed McMahon, who for decades appeared as Johnny Carson’s sidekick on “The Tonight Show,” is the latest casualty of an ever-growing foreclosure crisis that is gripping the nation. Yesterday, the Wall Street Journal reported that McMahon was $644,000 in arrears on a $4.8 The 85-year old McMahon fell and broke his neck
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Foreclosure Filings Soar 90 Percent
  
  Meanwhile, the Mortgage Bankers Association, in its quarterly snapshot of the mortgage market released today, reported that the percentage of payments that were 30 or more days past due for one-to-four unit residential properties was 4.84 Top 10 Foreclosure Total Ranked by the number of foreclosure filings, California topped the list, with 39,659 in May, and Florida was number two, with 21,704, according to RealtyTrac’s report. A growing number of American homeowners across the country are getting foreclosure notices, according to new data released this week by RealtyTrac. U.S.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Dealing With the Affordability Quandry
  
  Especially in light of the new consumer index just announced by the California Association of REALTORS®. First-Time Buyer Housing Affordability Index (FTB-HAI) , it is a wake-up call for first timers in that it measures the percentage of first-time buyers who can legitimately afford to purchase a median-priced home in California. So the number of first-time homebuyers who can afford the median-priced home in California — now $482,000 — is steadily declining. In addition to real estate investors and agents, the RealtyTrac website can be a great help to first-time homebuyers looking for a way to get into a home at a price that is more affordable, even in areas where prices seem out of reach for most people.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Lenders Asked to Clean Up Unhealthy Foreclosures
  
  At least unhealthy enough that, in an unprecedented move, California State Commissioner of Financial Institutions, Michael A. One of the downsides of taking back foreclosed properties for the lender is the obligation and cost associated with managing those REOs — some of which are bound to be vacant for a while, especially with the extended time it is currently taking to sell real estate in the Golden State. In the meantime, California’s Department Not only are foreclosures unhealthy for the economy, apparently they can be unhealthy for people as well. Kelley, sent out an
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Separating the wheat from the chaff: legitimate foreclosure investors vs. scammers
  
  It is a crime thatconsumer advocates fear could become increasingly common — especiallyin Southern California, where many homeowners have stretched themselvesto their financial limits to afford the regions record high housingprices. "The In any case, legitimate foreclosure investors willneed to find ways to overcome the stigma associated with foreclosureinvesting because of the increased attention to this problem. An article in the Los Angeles Times onTuesday documented the sad story of a defaulted homeowner who was thevictim of alleged foreclosure fraud. The homeowner said he
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Housing glut gives foreclosure buyers and investors advantage
  
  Home prices and sales plunge Sales of existing single-family homes declined in 40 states and in half of the nation’s biggest metropolitan areas in the last three months of 2006, according to the National Association of Realtors . Sales fell by more than 20 percent in Arizona, Virginia, California, Maryland and the District of Columbia. 2.1 Storm clouds are gathering over the nation’s battered housing market. Depending on whom you ask, the forecast calls for either thunderstorms or gale force hurricane winds.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• The Fed Rate Decision is Ongoing'
  
  When I was in business school at the University of Southern California we spoke of an “ongoing concern” meaning a business enterprise of supposedly infinite duration. Even the National Association of Realtors, which originally thought the nation’s housing market would turn around significantly by year-end 2007, is pulling back a bit on its forecast , now calling for home sales to stabilize where they are this year, with noticeable improvement in sales activity by mid-2008. The Federal Reserve is starting to sound like a broken record. Oops!
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Fannie: Q1 a Swift Kick in the Rear
  
  It may have been created and chartered by the federal government, but Fannie Mae (the Federal National Mortgage Association) is first and foremost a private company responsible to shareholders for running at a profit. Still, Fannie’s largest credit losses were concentrated in the states with the largest home price declines — California, Florida, Michigan and Ohio — four states that have remained among RealtyTrac's top foreclosure states in the nation for more than a year now. And as with many corporations in this country, the national economy is kicking Fannie around…fast and hard! One of the nation’s two Government Sponsored Enterprises (GSEs), Fannie reported a first quarter net loss of $2.2
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• The Government Goes After Loan Officers
  
  The Securities and Exchange Commission alleges that five California brokers sold “unsuitable” securities to customers, primarily variable universal life policies (VUL). “Most In August 2006, Steven Krystofiak, President of the Mortgage Brokers Association for Responsible Lending , testified before the Federal Reserve and said his group compared the income figures for 100 stated-income loans against borrower tax returns. Ninety percent of the stated-income loan applications showed earnings that were exaggerated by at least 5 percent. Sixty percent of the stated amounts were exaggerated
  www.realtytrac.com - Tuesday, February 3, 2009
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