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32 Articles match "Example","Time"
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The Latest from RealtyTrac
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The Government Goes After Loan Officers
For the first time loan officers are facing criminal charges because of allegations regarding mortgage originations. For example, the SEC could limit its investigation to mortgages that were foreclosed within the first 12 to 18 months after origination. The one public example of such an audit that we know of revealed stunning results. The Government Goes After Loan Officers By Peter G. Miller One of the most galling aspects of the mortgage meltdown is the sense that folks who made bad loans also made big profits, profits
www.realtytrac.com
- Tuesday, February 3, 2009
How Much for Those Lender Assets in the Window?
lot of loan servicers, accountants and attorneys are going to be working nights and weekends to get the work done.” As an example, the surprise in the WAMU deal was not the high default rates for subprime or option ARMs, rather it was the huge losses associated with home equity lending. At the same time, the Merrill discount may be too steep for owners without a pressing need to sell their mortgage paper. ____________________ Peter G. How Much for Those Lender Assets in the Window? By Peter G. Miller Long ago there was a
www.realtytrac.com
- Tuesday, February 3, 2009
No Mortgage Meltdown For These Banks
As one example, Hermance says that of 50,000 New Jersey mortgages his bank bought back just two properties during a recent 12-month period. The Hudson down payment numbers contrast strongly with national averages: The National Association of Realtors reports that in 2007 the typical first-time buyer put down just 2 percent, repeat buyers had 16 percent down payments and 25 percent of all purchasers bought with nothing down. At the No Mortgage Meltdown For These Banks By Peter G. Miller The news from Wall Street in recent weeks
www.realtytrac.com
- Tuesday, February 3, 2009
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Latest Census Data Suggest More Foreclosures Coming
Take San Diego, for example, where the median price of a home jumped from $249,000 to $567,000 in five years (2000-2005). Not only is San Diego unaffordable for many first-time home buyers, but, according to the RealtyTrac U.S. times the national average. Will the thinly stretched finances of U.S. homeowners lead to a sharp rise in foreclosures and a collapse of the so-called housing bubble?
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Foreclosure Lessons from Long Beach: Part II
Lesson 2: Call the trustee or lender to get most recent property status After you find a property that interests you, first call the trustee (for pre-foreclosures and auctions) or the lender (forbank-owned properties) to make sure the property is still inforeclosure before you sink any more of your valuable time into pursuingthe property. For example, one of the pre-foreclosure properties thatwe looked up only had a lender name and phone number, not a trusteename and phone number. As promised, here is another lesson about successfully searching andpursuing foreclosures based on a recent conversation with a customerwho was searching for properties in Long Beach, Calif.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Michael Jackson Property in Default
This time, according to the group from Palos Verdes, Calif., This is just another example that all types of property are susceptible to foreclosure, even multimillion dollar estates. Fox News is reporting that Michael Jackson has received a notice of pending foreclosure on a home he owns in Encino, Calif. — the home where his parents live. "The estate, worth about $7 million in the current real-estate market, is known as Hayvenhurst because of its address.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Trimming the Fat From Foreclosure Overload
times the state average and 3.7 times the national average — in the state with the seventh highest foreclosure rate in the country. But just because the process is supposed to end in seven months, that doesn’t mean the courts will adjudicate the cases in a timely manner. At a time in the real estate cycle when various cities and counties around the country are stretching their resources looking Probably the biggest downside to dealing with a property sited in a judicial foreclosure state is the tedious length of the process involved. Just ask any homeowner, investor,
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Separating the wheat from the chaff: legitimate foreclosure investors vs. scammers
An article in the Los Angeles Times onTuesday documented the sad story of a defaulted homeowner who was thevictim of alleged foreclosure fraud. The scammers dontcreate the foreclosure rates, but they swoop in at the time thatsomeone is in distress," said Elizabeth Renuart, a staff attorney withthe National Consumer Law Center in Boston and the author of "DreamsForeclosed: The Rampant Theft of Americans Homes ThroughEquity-Stripping Foreclosure Rescue Scams." The homeowner said he was trickedinto signing over the title of his home by a scam artist who didnothing to stop the foreclosure and then took out another loan againstthe property with no intention of paying it off.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Local Market Perspective, Seattle, Wash.
You must be willing to put in the time and money to create your perfect house. Most if not all of the time the seller has no knowledge of the properties previous history. For example, a potential buyer should consider paying for a “Sewer Scope,” which costs about $250.00. Here are some things to keep in mind when considering a distressed property purchase: Foreclosures are the most problem prone and strenuous type for real estate purchase. You never get a perfect house.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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The Fed Rate Decision is Ongoing'
Every time Mr. For example, for 17 consecutive meetings the Fed raised interest rates by a quarter of a percent each time (25 basis points in economist lingo), and the code word they used to justify those rate increases was adjustment . Then the Fed’s release goes on to say that “the high level of resource utilization has the potential to sustain” inflationary pressures on the national economy, although the Fed is hoping those pressures will moderate over time. The Federal Reserve is starting to sound like a broken record. Oops!
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Glossary of Foreclosure and Real Estate Terminology - Realtytrac
Million Foreclosures
www.realtytrac.com
- Tuesday, February 3, 2009
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40 Is the New 30 for Lenders and Investors
Wells Fargo, for example, just announced that it is joining the growing number of lenders, like Washington Mutual and Bank of America, that are offering 40-year fixed-rate loans. Tauting the lower monthly payments the new product offers will appeal to first-time buyers, consumers in high-cost markets, real estate investors and buyers on a fixed income, the companys press release also warns that equity will build up more slowly as a result of the lower payments and a lot more total interest will be paid over the extra 10 years. Well, as Fed Chairman Ben Bernanke decides on his next move -- will he or wont he ratchet up interest rates another 25 basis points next month as most economists are predicting -- mortgage lenders are also pondering their next moves.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Jackson Takes a Final Bow at HUD
However, like on so many occasions the press got wind of the announcement before it happened and started writing about it ahead of time. This will be a good thing in places like Southern California, for example. He gave himself a couple of weeks to clean out his desk, clear out of his office and say his final goodbyes to his staff. After that, Alphonso Jackson will probably be looking for something a little less in the public eye…at least for a while. Jackson gave notice on Monday of his intention to step down as secretary of the U.S.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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