After many months of wrangling and speculation it now appears that we will have a new housing bill. While congress and the President slap themselves on the back in congratulatory applause, one overriding issue comes to mind. Will this legislation really be effective? If we look at the components of how this is to be … Read more
The housing market continues to dominate the news. This week the Countrywide problem appears to be just that, C-o-u-n-t-r-y-w-i-d-e. From coast to coast the problem just keeps growing. Looks like you will soon be making your monthly mortgage payment to Bank of America. Hillary Clinton also popped into town to unveil her economic stimulus program … Read more
When a property owner becomes delinquent in their house payments they can attempt what is known as a short sale. A short sale indicates that the proceeds of the sale will not cover the debt on the house, indicating the lender will be taking a loss. The question then becomes how much loss is a … Read more
It is becoming apparent that we will soon know what the government’s response will be to the growing real estate mortgage crisis. In this upcoming election year, nobody wants to appear insensitive to homeowners possibly losing their homes, so many knee jerk reactions are being formulated. How will a plan of this magnitude even become … Read more
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 … Read more