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. Just wanted some advice on what are our options as far as lowering the monthly payments of $1,846…
Here is the latest analysis of Orange County’s distressed share of the housing market by Steve Thomas of Altera Real Estate, who does a bi-weekly report on local residential real estate. His observations: “Since October 1, 2009, the distressed inventory has grown by 37%. The active distressed inventory has…
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. When my ex-husband and I divorced two years ago, part of our agreement (done without lawyers) was that…
Interest rates on home loans fell to their lowest level on record, according to a survey by Freddie Mac. According to the mortgage giant’s press release: Interest for a 30-year, fixed-rate mortgage averaged 4.69% in the week ending today, with a 0.7% of a point, Freddie Mac said. That’s…
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 bought a condo in Corona in December 2005. I owe $290,000 on the first – 10-year interest-only…
The U.S. Attorney’s office today announced a series of mortgage fraud cases in Southern California as part of an ongoing nationwide crackdown against ”corrupt real estate professionals, bank employees who help facilitate fraud and those who prey upon distressed homeowners,” as well as borrowers and so-called ‘’straw” borrowers. . Among the…
Foreclosure filings, repo’d homes and bank-owned inventory in California all dropped from April to May, reports ForeclosureRadar.com . Foreclosure filings also declined significantly year-over-year, with notices of default down 43% and notices of trustee sale down 36%, the website says. The only real increases from the prior year were…
Here’s the latest on Orange County’s foreclosure and short sale market, from Steve Thomas at Altera Real Estate, who does a biweekly analysis. He says: “The distressed inventory continued its slow climb this year, adding an additional 89 homes in the prior two weeks and now totaling 3,080, a…
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’m 59. I have been laid off for a year and now I’m back to work. My…
An executive with Bank of America said recently that his company has modified at least 550,000 mortgages in the past 2 1/2 years, adding that future loan modifications will help offset a looming wave of new foreclosures. But Jack Schakett, senior vice president for Bank of America, the nation’s…