Ventura County, CA; Bank of America Corp. announced Tuesday that it has reopened more than 100,000 foreclosure actions in 23 states, saying its investigation found no significant problems. Likewise, GMAC Mortgage said it would reopen an undisclosed number of foreclosure files.
“This is an important first step in debunking speculation that the mortgage market is severely flawed,” said Bank of America spokesman James Mahoney.
Meanwhile, state attorneys in general continue to push for a halt to foreclosure sales, saying they have little confidence that procedures have been fixed.
Source: The Wall Street Journal, Jessica Silver-Greenberg, Robbie Whelan, and Dan Fitzpatrick (10/19/2010)
Discover how other home owners are avoiding foreclosure and request a free consultation by clicking here.
Thinking about a loan modification? Our Ventura County Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.
The Numbers are Getting Worse, Foreclosure & Short Sale Properties SOLD Which Are UNDER WATER!
The chart (see link below) is startling to say the least. Never in my 30+ years in the business, and one could argue since the Great Depression, have we seen THIS many homes being sold because the owners OWED MORE than the property was worth. Look at the timeline since 2000 and then for the past three years! When the market was roaring folks where refinancing and pulling out more cash, and repeating the cycle every time rates went down or they had more equity. Even those who bought with zero down recieved offers for credit lines making their total Loan to Value in excess of the homes worth. These folks defaulted in massive numbers back in 2007. The flood of REO’s came about from the huge amount of sub-prime lenders and buyers. Defaults and foreclosures soared but Consumer Confidence hung on during the drop of sales and median price through 2007 but it was consumer’s hoping for the best but also being OUT OF THE LOOP. When the REO’s hit consumer confidence dropped like a stone!
Discover how other sellers successfully did a short sale and request a free consultation by clicking here.
BofA–Short Sale Page has tons of tips! Action items! Check it out!
I ventured out onto the internet and was reading an article on how NAR (National Assoc. of Realtors) is trying to get the big peer banks(BofA, Wells Fargo, CitiMortgage, Chase) to start getting some conformity and consistency of policy regarding the sticky business of Short-Sales. I was surprised at the depth of the Short-Sale portion of BofA’s web site. Check it out at the link below!
http://realestateagent.bankofamerica.com/content/documents/10Tips.pdf
From: http://www.linkedin.com/in/realestateradiotalker
Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at cjohnson@prucalhomes.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 805-208-0823.
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification? Our Ventura County Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.
Thanks for reading this,
Chris B Johnson.
Chris is a Real Estate Agent at Prudential California Realty.
Phone: 805-208-0823. cjohnson@prucalhomes.com.
Certified HAFA Specialist, Certified Short Sale Specialist
View My homes for sale at www.ChrisBJohnsonRealtor.com.
Chris B Johnson specializes in loan modification assistance and short sales in Ventura County California. Ventura County Loan Modification Help, Ventura County short sales. Ventura County Short Sale Realtor Short Sale Realtor. Ventura County CA Short Sales. Ventura County Realtor, also providing HAFA Loan Modification and short sales help, Short Sales in Moorpark, Short Sales in Thousand Oaks, Short Sales in Westlake Village, Short Sales in Newbury Park, Short Sales in Camarillo, Short Sales in Santa Rosa Valley, Short Sales in Somis, Short Sales in Lake Sherwood, and Short Sales in Simi Valley California. Moorpark Loan Modification Help, Thousand Oaks Loan Modification Help, Westlake Village Loan Modification Help , Newbury Park Loan Modification Help, Camarillo Loan Modification Help, Santa Rosa Valley Loan Modification Help, Somis Loan Modification Help, Lake Sherwood Loan Modification Help, and Simi Valley Loan Modification Help, Moorpark short sales , Thousand Oaks short sales, Westlake Village short sales, Newbury Park short sales , Camarillo short sales, Santa Rosa Valley short sales, Somis short sales, Lake Sherwood short sales, and Simi Valley short sales. Moorpark Short Sale Realtor, Moorpark Short Sale Realtors, Short Sale Realtor. Ventura County CA Short Sales. Ventura County Realtor, Certified HAFA Specialist, Moorpark Short Sale Realtor, Thousand Oaks Short Sale Realtor, Westlake Village Short Sale Realtor, Newbury Park Short Sale Realtor, Camarillo Short Sale Realtor, Simi Valley Short Sale Realtor, Moorpark CA Short Sales, Thousand Oaks CA Short Sales, Westlake Village CA Short Sales, Newbury Park CA Short Sales, Camarillo CA Short Sales, Simi Valley CA Short Sales, Certified Home Affordable Foreclosure Alternative Specialist, HAFA, HAMP. CA. DRE 10501699.You can find Ventura County Short Sale Realtor at 587 W. Los Angeles Avenue, Moorpark, CA. 93021
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Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Johnson’s personal views and do not reflect the views of Prudential California Realty. This information on Common Short Sale Mistakes and How To Avoid Them is provided as a courtesy to our viewers to help them make informed decisions.
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