by countyproperties | Feb 26, 2012 | Latest News, loan modification, Real Estate news, Short Sales
An Oregon congressman is backing a bill that, if passed, would allow bankruptcy judges to force principal modifications on primary home mortgages during bankruptcy. Rep. Earl Blumenauer, D-Ore., proposed The Bankruptcy Equity Act to amend bankruptcy laws to allow...
by countyproperties | Feb 17, 2012 | loan modification, San Diego Foreclosure news, San Diego Real Estate
California’s housing market may get some much needed relief with last week’s announcement of the national mortgage settlement reached with the country’s five largest loan servicers. In the deal, 49 states, including California, agreed to a $25 billion settlement on...
by countyproperties | Feb 17, 2012 | Latest News, loan modification, Real Estate news, San Diego Real Estate, San Diego Short Sales
On February 9, Attorney General Kamala D. Harris announced that California secured up to $18 billion for its distressed homeowners as part of a $25 billion national multistate settlement with the country’s five largest loan servicers. More than $12 billion will...
by countyproperties | Feb 12, 2012 | Latest News, loan modification, San Diego Foreclosure news, San Diego Real Estate, San Diego Short Sales
In his State of the Union address, President Obama laid out a plan to help responsible borrowers and support a housing market recovery. Key aspects of the president’s plan include: Broad-based refinancing: The president’s plan will provide borrowers who are current on...
by countyproperties | Feb 12, 2012 | Latest News, loan modification, San Diego Short Sales
Fannie defends ending pilot principal-reduction program. A small pilot principal reduction program Fannie Mae killed in 2010 was not performing well enough for executives to expand, the mortgage giant claims. Reps. Elijah Cummings, D-Md., and John Tierney, D-Mass.,...
by countyproperties | Feb 4, 2012 | loan modification, San Diego Foreclosure news, San Diego Short Sales
As the housing market continues to struggle for stabilization, many homeowners are turning to strategic default. Almost 11 million homes are now underwater, according to Corelogic. Around 3.5 million homeowners are behind in their payments and another 1.5 million...