In gambling, there are two keys to winning. The first one is knowing when to walk away. Number two is just don't play. Unless you're Rain Man, eventually you will loose. How much and how often you lose is determined by your aversion to risk. Has foreclosure become a game of chance? More and more California homeowners are playing the foreclosure lottery. However in this game, there doesn't appear to be any chance of a winning payoff. Possibly the only opportunity is to sit a while … [Read more...]
Foreclosure – It Happens
November 30, 2007 By 1 Comment
A few days ago we looked at the number of properties that were in some stage of foreclosure in the City of Pasadena. With so much talk these days about the increasing number of foreclosure's we thought we would attempt to explain the process for a property that goes into default. To get a good understanding of what's involved, we need to first explain what happens when you purchase real property. In California we use a deed of trust. Other states may use a mortgage. The deed of trust provides … [Read more...]
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