Despite some reports that suggest the housing crisis may be hitting bottom, foreclosures so far represent the “tip of the iceberg,” real estate analyst, investor and lender Bruce Norris says. Norris told hundreds of investors attending a seminar he held in Costa … Read More
The short sale process isn’t working and has created ”a deluge of pending sales that take forever to close,” says Steve Thomas of Altera Real Estate. As of Thursday,he says, there were 6,706 outstanding pending home sales in Orange County, with 62% of … Read More
California will be one of five states designated to receive up to $1.5 billion to help unemployed homeowners and those who owe more than their homes currently are worth, according to several news reports. Dubbed the Help for the Hardest-Hit … Read More
Five people in a $13 million mortgage fraud ring targeting more than 100 southern California homeowners were sentenced this week in federal court, receiving terms of 1 to 15 years. . Edward Seung Ok, 44, who pleaded guilty to mail fraud, … Read More
Randy Johnson, president of Independence Mortgage Co. in Newport Beach, author of “How to Save Thousands of Dollars on Your Home Mortgage” and a mortgage broker since 1983, answers questions… Q. We have a second home with $300,000 equity and … Read More
Mortgage giant Freddie Mac reported today that interest rates for 30-year fixed-rate loans dropped below 5 percent for the third week this year, adding that rates also fell for most other loan types. Thirty-year loans averaged 4.97 percent with an … Read More
January’s foreclosure report from RealtyTrac of Irvine says … California foreclosure filings were down 6.4% from a year ago and down 10.8% from December 2009. Filings nationwide were 105 from December put up 15% from a year ago. Top 5 … Read More
Lennar Corp. announced today that it is acquiring a 40 percent interest in two portfolios of loans with an unpaid balance of $3.05 billion from the Federal Deposit Insurance Corp. A subsidiary of Lennar, Rialto Capital Advisors, will conduct the … Read More
Randy Johnson, president of Independence Mortgage Co. in Newport Beach, author of “How to Save Thousands of Dollars on Your Home Mortgage” and a mortgage broker since 1983, answers questions… Q. I believe your column is for home owners but … Read More
New figures show that a rising number of Orange County home loans are in the foreclosure pipeline, but fewer are actually being seized by banks. Orange County homes in foreclosure continued to rise through December, new figures from Santa Ana-based … Read More