Tag Archives: default notices

Bank Of America Pushes More Into Foreclosure

Bank of America has been harder hit by the mortgage crisis than any other bank. Only Wells Fargo comes close with a disproportionate share of their assets coming from mortgages. As Bank of America tries to clean up its mortgage … Continue reading

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Bank of America Stability Threatened By Rising Foreclosures

The foreclosure rate has taken a dramatic tick upwards. This puts downward pressure on home prices which in turn causes more foreclosures. Flooded by foreclosed properties, which cost banks on average more than $40,000 each, banks have taken their time … Continue reading

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Boom In Foreclosures Bigger Than Boom In Refinancing

It is all bad news for the re-election chances of Barack Obama. So his advisers are pondering a plan to subsidize and guarantee millions of mortgage refinances that the private market won’t underwrite. This would be typical for the Democrats, … Continue reading

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What’s Behind The Decrease In Foreclosures?

Lenders are processing foreclosures in batches, so if one month you see that the number of foreclosures has fallen, that’s not necessarily a big deal. Lenders are overwhelmed by the number of foreclosures. They lose about $40,000 per foreclosure. The … Continue reading

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Foreclosures Hit Sacramento’s Wealthiest Homes

I lived in the Sacramento area from 1980-1994. Homes and properties were a lot less expensive than Southern California and the San Francisco Bay Area. During my years there, the smog steadily got worse. I worked in construction for years … Continue reading

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California’s Foreclosures Jump 19% In Third Quarter

The number is down from 2009. And that’s been the trend for 2010 in California, the number of foreclosures going down. I am not sure if this new number is a blip or a trend. Lenders are becoming more efficient … Continue reading

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Foreclosures Drop For Three Straight Months

Good news for the housing economy? Sure, but I am not sure how significant it is. All the fundamentals driving up foreclosures are still in force. Yes, we’ve got tax credits for buying new homes. We have Obama’s mortgage modification … Continue reading

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California’s Foreclosure Mess

Report: First the good news. Home sales are up in California. The bad news — there are a ton of foreclosures to work through before the decline in home prices stops. How much will California real estate decline next year? … Continue reading

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Mortgage Defaults In California

Fewer Californians defaulted on their homes in the third quarter according to a new report. But the rules have changed. Here’s a view from Santa Rosa: In Sonoma County, lenders sent 1,021 default notices in the third quarter, down 26 … Continue reading

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California Defaults Down

About 94,000 home owners in California defaulted in the past quarter. Sue McAllister writes: The number of Santa Clara County homeowners who fell behind in their mortgage payments in the third quarter rose 70 percent compared to the same period … Continue reading

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