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CalendarThe California HomePreservationCoalition.org is a group of non-profit agencies and service providers that understand how to help California recover from the prolonged problems faced by homeowners. Loss of equity, rate adjustment, ARMs converting are the challenges. If you are seeking information about preserving your home homeownership rights or you need information on short selling your home and ...
The Council of Better Business Bureaus released a list of what it considered the top scams of the 2009.
To formulate the list, its first national roundup of top scams, the bureau looked at the volume of complaints received about scams inquiries received about certain companies and anecdotal evidence. According to the bureau, many of the scams targeted people hard hit by the recession like the
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From Bloomberg: Lenders Pursue Mortgage Payoffs Long After Homeowners Default [L]enders are exercising their rights to... ...
The U.S. Treasury has released their long awaited details of the Home Affordable Foreclosure Alternatives (HAFA) program, which provides instructions for lenders and servicers participating in the Making Home Affordable, Home Affordable Modification Program (HAMP). The purpose of HAFA is to create an alternative to foreclosures for homeowners unable to successfully modify their troubled mortgage u ...
By Tami Luhby, senior writerJanuary 28, 2010: 6:59 PM ET NEW YORK (CNNMoney.com) -- Under fire for the low number of... ...
The U.S. Treasury Department released guidelines and forms for its new Home Affordable Foreclosure Alternatives (HAFA) program on Nov. 30, 2009.
It was designed with good intentions — to simplify and streamline use of short sales and deeds-in-lieu of foreclosure. However, HAFA is a complex 43-page program that may be difficult for most real estate agents to fully understand.
To be perfectly hone
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from CalculatedRisk From Alejandro Lazo at the LA Times: Short sales grow as a cheaper alternative to foreclosure. ... ...
from the Huffington Post Since last year nearly 1 million struggling homeowners facing foreclosure have been offered... ...
HUD SECRETARY DONOVAN ANNOUNCES $318,046,837 IN RECOVERY ACT GRANTS TO STABLIZE NEIGHBORHOODS, REBUILD ECONOMIES IN CALIFORNIA
Neighborhood stabilization grants to 12 California communities hard hit by the foreclosure crisis
WASHINGTON - U.S. Housing and Urban Development Secretary Shaun Donovan today announced that HUD is awarding $318,046,837 in Recovery Act funding to Alameda County, In
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I've excerpted below from a paper by New York Fed Researchers Andrew Haughwout, Ebiere Okah, and Joseph Tracy: Second Chances: Subprime Mortgage Modification and Re-Default with additional preface comments from Calculated Risk a Finance and Economics Blog.
Although the paper uses subprime data, the general results are applicable to all mortgages. The researchers point out that principal reduct
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ADMINISTRATION UPDATES DOCUMENTATION COLLECTION PROCESS AND RELEASES GUIDANCE TO EXPEDITE PERMANENT MODIFICATIONS
WASHINGTON – As part of the Administration’s ongoing housing market stabilization plan, the U.S. Department of the Treasury and the Department of Housing and Urban Development (HUD) today released updated guidance for servicers participating in the Administration’s mortgage modifica
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Homeowners finding it tough to qualify for federally sponsored mortgage assistance programs are increasingly contemplating whether or not to consider the short sales route. While short sales have certainly assisted many homeowners in resolving their debt burdens, there are pros and cons to consider. Below are some of the most critical questions to answer before deciding whether to short sale your ...
Governor Schwarzenegger signed Senate Bill 94, and vetoed Assembly Bill 764. Here’s the Governor’s message to the California Assembly on why he chose to veto the bill:
To the Members of the California State Assembly:
I am returning Assembly Bill 764 without my signature.
Although I support the prohibition of individuals charging advance fees for mortgage loan modifications, I do not agree w
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California’s ALT-A and Option ARM mortgages are just beginning to re-set, causing payments to rise, and with almost half of the mortgages in California already underwater, these homeowners will be unable to refinance and foreclosures will increase as a result. Prime jumbo foreclosure rates are already up a mind blowing 634% as compared with January 2008 levels, according to LPS Applied Analytics.
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