US Home Foreclosure Hit Record High

Thursday, July 23rd, 2009

Bloomberg News new recently published an article about home foreclosures continuing to soar even three years after this foreclosure crisis began.  Watch this YouTube video with an interview and discussion with Rick Sharga of the Realty Trac. He talks about the 1.5 million record high foreclosure numbers. Are loan modifications helping or just delaying the [...]

Massachusetts Homeowners Behind on Mortgages

Thursday, July 23rd, 2009

Massachusetts foreclosure petitions in June jumped to 2,835 – more than eight times higher than the 350 petitions in June 2008 and 21.7% higher than the 2,329 filings in May, said the Warren Group, which added that the number of petitions to foreclose in June was the highest it’s been in the previous 13 months.  [...]

Negative Home Equity Hits 18% Nationwide

Monday, February 9th, 2009

First American Core Logic based its findings on a database of 42 million properties where there’s a first and or second mortgage. Being delinquent on your home loan doesn’t always mean a foreclosure.  Lenders continue to approve mortgage modification plans in great volumes. During the housing boom, Arizona, California and Nevada were among the fastest [...]

California Foreclosure Laws

Monday, January 5th, 2009

The judicial process of home foreclosure starts with the lender filing a Notice of Default.  The lender files a lawsuit to get the local court force foreclose, is used when no power of sale is present in the mortgage or deed of trust. However, the State of California has mandated that mortgage lenders and mortgage [...]