According to the Los Angeles Times article entitled “Jumbo mortgage holders pose highest risk of strategic default,” more than 12 million mortgages are estimated to be underwater, and 30% of defaults on loans are strategic. New research suggests that those with a large mortgage, a good credit score and low equity who see little chance more » Read more »
New Foreclosure Law California SB 1137: Relief … Or Not?
New foreclosure law California SB 1137—Was it a case of too little, too late? The thousands of Los Angeles and Orange County homeowners still on the brink of defaulting on their loans likely think so. California’s record-breaking, seemingly endless spike in foreclosures has left many frustrated with SB 1137, a supposed piece of “foreclosure relief” more » Read more »
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