Search results for: ,Loan,Modification

Quarterly home sales worst yet for Sacramento area

Larry O. Doss Monday, October 19, 2009

Home Front: Quarterly home sales worst yet for Sacramento area

Sacramento-area home builders just keep singing the blues.

July, August and September brought their worst quarter yet in this long housing crash: just 616 sales in El Dorado, Placer, Sacramento, Sutter, Yolo and Yuba counties, the Folsom-based Gregory Group reports today.

Actually, nearly all the region’s sales were in Placer and Sacramento counties alone. The suburban cities of Placer County accounted for 44 percent of third-quarter sales of new homes in the region. Sacramento County’s outer... Read more

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Mortgage fraud bills sent to Schwarzenegger

Larry O. Doss Monday, September 14, 2009

Mortgage fraud bills sent to Schwarzenegger

As financial carnage from the housing crash continues across California, state lawmakers have sent several bills that crack down on mortgage fraud to Gov. Arnold Schwarzenegger’s desk.

In recent days, the Assembly and Senate have jointly passed bills to ban loan modification companies from asking for upfront fees and make mortgage brokers put their customers’ financial needs ahead of their own commissions.

They’ve also limited the size of pre-payment penalties and added California to the roster of states ... Read more

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Backlash against banks growing over mortgage modifications

Larry O. Doss Wednesday, September 9, 2009

Backlash against banks growing over mortgage modifications

James Seeley, a machine shop supervisor at the University of California, Davis, just wants a modified mortgage that he and his wife, Sandi, can better afford.

It’s a common quest in this economy. Seeley’s wages are being cut. His house in Natomas has lost almost half its value. And he owes more than it’s worth, even with a $125,000 down payment in 2006.

"We want to get payments down to 31 percent of our income," said Seeley.

In Curtis Park, Hilary Egan is trying to do the same. He... Read more

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Troubled homeowners wrestle with loan holders

Larry O. Doss Monday, August 17, 2009

Troubled homeowners wrestle with loan holders

By Kevin G. Hall

http://www.sacbee.com/business/story/2111186.html?storylink=pd

WASHINGTON – Nearly three years into the deepest U.S. housing slump in generations, lenders are modifying only a small number of problem mortgages, and rising foreclosures are restraining the economy’s recovery.

The Obama administration has stepped up pressure on lenders and their mortgage servicers, who act as bill collectors on behalf of investors who own mortgage bonds. The administration on Aug. 4 unveiled the first of what... Read more

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How assessor slashes property values

Larry O. Doss Friday, July 10, 2009

Home Front: How assessor slashes property values

By Jim Wasserman
jwasserman@sacbee.com

http://www.sacbee.com/business/story/2014910.html

This week the Sacramento County Assessor’s Office – and more like it across the great foreclosure belts of California – chopped property values again on nearly everything built in the housing boom.

The value slashing in Sacramento County that started in 2007 with 50,000 properties and 90,000 last year, reached 170,000 in 2009. That’s nearly every lot carved from a pasture and turned into a new house sinc... Read more

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Repo business soars as Sacramento area home sales slump

Larry O. Doss Monday, July 6, 2009

Repo business soars as Sacramento area home sales slump

By Jim Wasserman
jwasserman@sacbee.com

http://www.sacbee.com/topstories/story/2002300.html

At the beginning, Alejandro Maybuena lost the Sacramento house he bought in April 2005 for $350,000. At the end, in early 2009, Kim Gish bought it for $109,000.

Stories like this have happened more than 40,000 times in the Sacramento area. Still, the tale in particular of one house in California’s capital region shows the sweeping change in a real estate industry that once involved mainly a mom-and-po... Read more

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Home Affordable refi program expanded

Larry O. Doss Wednesday, July 1, 2009

Home Affordable refi program expanded

Loan-to-value ceiling raised from 105% to 125%
By Inman News, Wednesday, July 1, 2009.

http://www.inman.com/news/2009/07/1/home-affordable-refi-program-expanded

Inman News

Homeowners who are up to 125 percent underwater will be allowed to refinance under the Obama administration’s Home Affordable Refinance Program if they are current on their payments and their loan is owned or guaranteed by Fannie Mae or Freddie Mac.

The federal regulator overseeing Fannie and Freddie has boosted the program’s ... Read more

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Despite programs meant to help, many homeowners still frustrated

Larry O. Doss Saturday, June 27, 2009

Home Front: Despite programs meant to help, many homeowners still frustrated

By Jim Wasserman
jwasserman@sacbee.com

http://www.sacbee.com/business/story/1978579.html


Day in and day out since 2007, callers who struggle with mortgages throughout the Sacramento region, those who can’t sleep for worrying, who want to stay with houses that have lost $150,000 in value, have phoned Home Front to fret and express a common sentiment.

"My lender," they say, is "difficult." Callers complain about long waits, bureaucratic snafus and a sense of not bei... Read more

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7 lenders get immunity from state foreclosure prevention act

Larry O. Doss Monday, June 22, 2009

7 lenders get immunity from state foreclosure prevention act

By Jim Wasserman
jwasserman@sacbee.com

http://www.sacbee.com/business/story/1962447.html


Bank of America Home Loans, CitiMortgage and Carrington Mortgage Services are among the first seven lenders and loan servicers granted immunity from the state’s foreclosure prevention act launched this week in California.

The new law makes lenders prove to the state that they have a comprehensive loan-modification program that helps borrowers stay in their homes. Those that can’t prove it... Read more

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Obtaining a Lower Tax Assessment on Your Home

Larry O. Doss

Recently, GreatWest GMAC Real Estate Professionals have heard from folks interested in possibly obtaining lower property tax assessments on their homes. Generally, these folks are individuals who purchased homes in the last few years, at the height of the market, and now find their homes valued less than they paid for them.

The link below is to the County of Sacramento Assessor’s Office. If you think you may qualify for a reduced assessment, you will be able to easily find the necessary information to more easily procure reassessment.

Be forewarned that like loan modificati... Read more

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Home Front: First-time buyers reap reward of median price in Sacramento County

Larry O. Doss Monday, May 18, 2009

Home Front: First-time buyers reap reward of median price in Sacramento County

Jim Wasserman
jwasserman@sacbee.com

http://www.sacbee.com/business/story/1863568.html

For all the pain and trouble associated with this housing bust, one thing is clear: It’s getting better and better for first-time buyers.

And few places beat Sacramento, according to a new report from the California Association of Realtors.

CAR says 80 percent of Sacramento County first-timers could afford a median-priced entry-level home in the first quarter of 2009.
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Navigating These Economic Times

Larry O. Doss Sunday, May 17, 2009

The other morning a GreatWest GMAC Real Estate professional was brainstorming with another Realtor. Both agreed that in addition to helping buyers purchase property, and sellers to sell their homes, they had voluntarily taken up the shield, for helping past clients, friends and family, to stay in their economically challenged homes during these difficult times.

Currently, they were averaging one or two calls a day, running the gamut consisting of the following:

(1) A friend, who bought a house in the 1990s, built up equity, then put on a second mortgage to finance an improve... Read more

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Loan mod: Go it alone?

Larry O. Doss Monday, May 11, 2009

Part 2: Nuts and bolts of mortgage modification
By Jack Guttentag, Monday, May 11, 2009.

Inman News

http://www.inman.com/buyers-sellers/columnists/jackguttentag/loan-mod-go-it-alone

Editor’s note: This is Part 2 of a two-part series. Read Part 1.

Last week, I went over the steps involved in getting a loan modified. This article examines which, if any of these steps, may require a borrower to seek help.

The bottom line is that many, perhaps most, borrowers can handle it all themselves, but some may need an assist here or there. And some ma... Read more

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Avoiding Loan Modification or Foreclosure Scams

Larry O. Doss Tuesday, April 21, 2009

GreatWest GMAC Real Estate professionals are continuing to hear from troubled homeowners, who are hoping to get a better mortgage, or take advantage of the lower interest rates currently available.

However, the news media has provided many reports about foreclosure scams, and many folks are a little gun-shy of beginning the process that could improve their financial lot.

There are a number of qualified, honest and caring professionals trying to help with loan modifications. But the question remains – How do you identify a legitimate agency from a scam?

There have be... Read more

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Based on information from the Humboldt Association of REALTORS®, as of 05/26/2022. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be verified by broker or MLS for accuracy. All information should be independently reviewed and verified of accuracy. Properties may or may not be listed by the office/agent presenting the information. Copyright ©2022 Humboldt Association of Realtors®. All rights reserved.