New short-sale program offers relief for underwater homeowners

One of the federal government’s most-important financial relief efforts for underwater homeowners started operating Nov. 1.  Traditionally short sales, where the lender agrees to accept less than the full amount owed and the house is sold to a new purchaser at a discounted price, are associated with extended periods of delinquency by the original owner. …

Continue reading ‘New short-sale program offers relief for underwater homeowners’ »

2.3 million distressed homes have yet to hit market

“Just under 2.3 million U.S. homes made up a “shadow inventory” of distressed properties that are likely to hit the housing market in the future, according to Santa Ana-based data giant CoreLogic. That’s down from July 2011, when the hidden supply of distressed homes that could become a drag on home prices totaled 2.6 million …

Continue reading ‘2.3 million distressed homes have yet to hit market’ »

Foreclosure starts on West Coast go down

West Coast Foreclosure Starts Plunge in September: ForeclosureRadar “Foreclosure starts fell dramatically in all five West Coast states tracked by Foreclosure Radar, confirming suspicions that a foreclosure wave may not arrive… …In September, foreclosure starts in Nevada fell 40.1 percent from the prior month and in Oregon, foreclosure starts fell 40 percent during the same …

Continue reading ‘Foreclosure starts on West Coast go down’ »

California housing on the rebound?

California housing rebound picks up speed, Realtors report | article by the OC Register “California’s housing rebound is picking up steam. Homes in May moved statewide at their fastest pace – and enjoyed their biggest year-over-year gain – in three years, according to the California Association of Realtors. The Realtors’ May report noted these statewide trends for single-family …

Continue reading ‘California housing on the rebound?’ »