Foreclosure | Pasadena & South Pasadena Real Estate

Lessons From The California Gold Rush

January 14, 2010 By Doug Willis 1 Comment

Back in 1849 when gold was discovered in California, the news spread quicker than fire in the Angeles forest. People from all over the country were packed and headed to California in search of finding the fortune that had alluded them for so long. In 1849, I don't think we had Facebook or Twitter and social networking was a bar fight at the saloon. Could people in 1849 receive more reliable information than they do today, 160 years later? Was a text message delivered by carrier pigeon, a … [Read more...]

Shorter Response Time on Short Sales

December 17, 2009 By Doug Willis Leave a Comment

Do you owe more on your home than it is worth?

Many of the programs designed to help homeowners in distress have provided less than satisfactory results. Some of the qualifications needed to restructure or modify a loan have come with fine print that have proven to be more well intentioned as opposed to actually helping the people they were designed to benefit. Adding to the stress of the ticking foreclosure clock is the uncertainty along with the unresponsive reply of the person or entity that now has control of your destiny......the … [Read more...]

Filed Under: Current News, Foreclosure Tagged With: new short sale guidelines, short sale alternative to foreclosure

Foreclosures About 25% of Pasadena Home Sales

November 17, 2009 By Doug Willis 1 Comment

The number of foreclosure filings in the City of Pasadena has been increasing as it has just about everywhere. Having said that, it does not necessarily mean however that more people are losing their homes. I know that seems like a contradiction and almost sounds like political doublespeak. Let me see if I an explain this... The Foreclosure Process From the news reports you would think every home sold these days has been repossessed by the bank or is in some classification of being a … [Read more...]

Filed Under: Foreclosure Tagged With: foreclosures in pasadena, How many home sales in Pasadena are in foreclosure?, Short sales in Pasadena

Helping Pasadena Homeowner’s Avoid Foreclosure

September 11, 2009 By Doug Willis 1 Comment

Does Your Real Estate Agent Have This Designation?

The number of homes approaching foreclosure in Pasadena is approaching 700 and has been steadily rising for the past several months. As the moratoriums on foreclosures comes to an end, as homeowners exhaust all possibilities to keep their homes, it seems inevitable that the foreclosure rate will keep rising and rising for some time. If there is a silver lining to all of this the foreclosure process has overwhelmed the lenders that own the notes and there isn't enough manpower to expedite all of … [Read more...]

Filed Under: Foreclosure Tagged With: How do I avoid foreclosure, my pasadena home is in foreclosure, Pasadena homes in foreclosure

Short Sale vs Foreclosure and the Potential Outcome

March 19, 2009 By Doug Willis 5 Comments

Homeowners today who can't make their house payments and find themselves in a financial hardship may inevitably be faced with two options, a short sale or a foreclosure. I don't think there would be much debate on the subject. If you found yourself in this position, a short sale would be the preferred choice. Why then do so many people lose their homes in the foreclosure process? First of all, a mentality exists that if the problem is ignored it will go away. Many lenders these days are … [Read more...]

Filed Under: Foreclosure Tagged With: Foreclosure options, Is a short sale the preferred method of foreclosure, what happens after a short sale