California’s 90-day foreclosure moratorium starts, sort of

Written by on June 17, 2009 · Leave a Comment

This is a great post from Mathew Padilla of OCRegister.com discussing the new foreclosure moratorium in California. A state law halting home foreclosures for 90 days begins today, but companies can earn an exemption by showing they are already busy modifying loans. The California Foreclosure Prevention Act, or Assembly Bill X2 7, which Governor Arnold more » Read more »

Obama’s Homeowner Affordability and Stability Plan: Who Is Eligible?

Written by on February 28, 2009 · 1 Comment

Here’s what you need to know about President Barack Obama’s new Homeowner Affordability and Stability Plan (HASP) to help stabilize the housing market and help millions of struggling borrowers keep their homes. What is it? Who is eligible? How will it directly impact you and your family? The first portion of HASP, the Homeowner Affordability more » Read more »

Southern California Home Prices Plummet as Foreclosures Rise

Written by on February 28, 2009 · Leave a Comment

Southern California home prices have fallen to 2002 levels, according to a recent Los Angeles Times report, and they won’t stop plummeting any time soon. SOCAL HOMES BECOMING MORE AFFORDABLE Studies show that significantly more people will be able to realize the American dream of home ownership in Southern California than they have been since more » Read more »

Gov. Schwarzenegger’s Foreclosure Moratorium Explained

Written by on February 25, 2009 · 1 Comment

Gov. Arnold Schwarzenegger signed a 90-day moratorium on California home foreclosures (legislation SB2X-7 and AB2X-7) amid criticism that the law likely won’t put a dent in the skyrocketing pace of repossessions. Here’s what you need to know: The bill, as part of the state’s recent budget deal, safeguards owner-occupied residences that had first loans on more » Read more »

This Week’s Top Properties: 3 Great Value Southern California Foreclosures

Written by on February 24, 2009 · Leave a Comment

44 Tavella Place, Foothill Ranch, Calif. 92610 VIP SPECIAL, CALL FOR PRICING INFO CLICK HERE FOR MORE PHOTOS Square Feet: 2,115 Lot Size: 3,794 sq. ft. Rooms: 4 bedrooms, 2.5 baths Here’s your chance to buy a spectacular Orange County two-story home with all the trimmings. Nestled in a private neighborhood, this completely refurbished four-bedroom, more » Read more »

5 Reasons to Buy a Southern California House Right Now

Written by on February 4, 2009 · Leave a Comment

Home prices just keep falling. … and they’re only expected to dip even lower. In Los Angeles County, including right here in Long Beach, already historically-low prices have plummeted by 30%! That’s quite a bit steeper than the average national drop—21% in the past year. As of today there are 2,035 homes for sale in more » Read more »

Troubled Asset Relief Program: Will It Help Homeowners At Risk of Foreclosure?

Written by on January 30, 2009 · Leave a Comment

Why is TARP in the news? Because President Obama is considering spending up to $100 billion in financial rescue funds from the Treasury Department’s $700 billion Troubled Asset Relief Program. Why? To put the brakes on the subprime mortgage crisis. Bank regulators and Congressional leaders, are pressuring the Obama administration to use the funds to more » Read more »

Tax Breaks for Short Sales

Written by on June 26, 2008 · Leave a Comment

In December, 2007,  President Bush signed a new law giving tax breaks to homeowners who have mortgage debt forgiven called the Mortgage Forgiveness Debt Relief Act of 2007.  Now, a taxpayer does not have to pay federal income tax on debt forgiven for a loan secured by a qualified principal residence.  This new tax break more » Read more »

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