Home buyers are back after foreclosures

AFTER FORECLOSURE OR SHORT SALE YOU CAN BUY AGAIN IN THREE YEARS Millions of families lost their homes to foreclosure after the housing crash hit six years ago. Now, some of those families are back in the housing market. Call them the “boomerang” buyers. Millions of families lost their homes to foreclosure after the housingContinue reading “Home buyers are back after foreclosures”

Bank litigation still going strong

HARDLY a week goes by without an announcement of a big lawsuit against a bank in America. Wells Fargo was this week’s target: the Department of Justice sued the bank for allegedly dodgy lending, among other things. Last week it was JPMorgan Chase’s turn, as New York’s attorney-general took aim at practices at Bear Stearns,Continue reading “Bank litigation still going strong”

Foreclosures hit 5 year low

Foreclosure activity reached a 5-year low in September with only 180,427 filings made on distressed properties, RealtyTrac said Thursday. The filings surveyed include default notices, scheduled foreclosure auctions and bank repossessions. Overall, September’s foreclosure numbers fell 7% from August and 16% from last year as more non-judicial foreclosure states moved through backlogs of foreclosure inventory.Continue reading “Foreclosures hit 5 year low”

Oregon MERS case Niday

In the Niday v. GMAC case, the Oregon court of appeals ruled against MERS when it overturned the lower court’s ruling. The court’s reversal of a lower judge’s decision negatively effects MERS role as the foreclosing party in the Niday v. GMAC Mortgage case. However, MERS claims the decision will not impact judicial foreclosures orContinue reading “Oregon MERS case Niday”

10 reasons to still do a short sale this late in the game

The amount needed to pay off your existing loan is known as a short sale. While it isn’t the ideal situation for most homeowners, it can offer a better solution than foreclosure. Due to the housing crisis, many lenders are more lenient about accepting short sales than ever before. This option certainly isn’t for everyone;Continue reading “10 reasons to still do a short sale this late in the game”

Stated Loans Make a Comeback

Preparing for the return of the jumbo lending market and the days when Fannie Mae and Freddie Mac are no longer mortgage finance behemoths, Rancho Financial is bringing to market loans often blamed for the destruction of the nation’s housing economy. “In the late 1990s and 2000s, no one was regulating anything and you hadContinue reading “Stated Loans Make a Comeback”