There are millions of Americans fighting foreclosure and most of them hope that they will obtain a loan modification. For Gary Robinson it is a stress for two years now. "It adds a lot of stress," Robinson said. "You don’t know where it’s going to end up. You don’t know whether to plan to move." [...]
The former home of Bank of America Home Loans located at 136 W. Napa St. in Sonoma has been put on notice that its owners are in default and the building and property at 136 and 144 W. Napa St will be put on foreclosure sale on June 7. The notice of default shows $3.7 [...]
Strategic defaulters now have a chance to keep their homes with a Walnut Creek startup debuting Monday, with a service aimed to help home borrowers in distress. The startup will help borrowers go through a strategic default but possibly keep their home, while shifting equity and loss onto the lender. HomeLiberty, the new service would [...]
Although California is one of the hardest hit states by the housing collapse and its housing market is still saddled with plenty of distressed real estate, the percentage of foreclosure and REO sales in declined in April for the second month in a row. According to the California Association of Realtors "the share of sales [...]
Since 2008 nearly 2,500 Sonoma County single-family homes have been sold as short sales, CJ Holmes Brokerage from Santa Rosa reported. This number shows that short sales accounted more than one in every six sales in the area during these three years. About 31,000 county homeowners owed more than their homes were worth at the [...]
The Red Lion Hotel in Concord received a notice of default ten days ago from its lender, Far East National Bank. The property is delinquent on a $7.8 million mortgage, Contra Costa County records show. A couple of weeks ago the 189-room hotel abruptly shut its doors, telling workers the night before that they were [...]
According to the latest report issued by Zillow the Bay Area housing market experienced a significant 3% drop. This is the biggest decline the market has seen since the worst days three years ago, when the housing market collapsed. Two other records were made in March, the most amount of homes were sold for a [...]
According to Reuters Wells Fargo Co on Friday raised its worst case estimate for litigation losses by 42% to $1.7 billion as it is constantly exposed to foreclosure-related legal issues. The San Francisco-based bank’s latest worst case estimate represents a $500 million increase from $1.2 billion in the previous quarter. A company spokeswoman said the [...]
The latest Standard & Poor’s Case-Shiller Prices Index report released these days reveal that home values in the nation’s 20 biggest metro areas dropped to ‘within a hair’s breadth of a double dip’. Prices across the country are nearing the 2009 lows reached after the mortgage meltdown a couple of years earlier. "There is very [...]
