San Jose Real Estate » Foreclosures

Foreclosure Market Report

Kathleen Daniels — Fri, 16 Jul 2010 03:48:00 +0000

I read an interesting article today on the mid-year foreclosure filings report released by RealtyTrac.

It was no surprise to read that California ranked fourth among the nation’s highest foreclosure rates. Nevada ranked first, Arizona second and Florida ranked third.

The RealtyTrac report shows that 1,654,634 U.S. properties received a foreclosure filing during the first half of this year. This equates to one in every 78 homes receiving a foreclosure filing between June 30, 2010 and the beginning of the year.

“The midyear numbers put us on pace to exceed 3 million properties with foreclosure filings by the end of the year, and more than 1 million bank repossessions,” said James J. Saccacio, CEO of RealtyTrac.

According to Saccacio, “The pace of properties entering foreclosure slowed as lenders preempted or delayed foreclosure proceedings on delinquent properties with more aggressive short sale and loan modification initiatives.”

Visit RealtyTrac to read the full report.

Today, nearly 1 out of every 7 homeowners in America is behind on mortgage payments. These are tough and frustrating times. Now more than ever, it’s important to identify your options. Foreclosure can be avoided, your credit can be saved, and your family’s financial future can be salvaged.

As a San Jose Real Estate Broker Agent and Certified Short Sale Specialist I have a strong and unique appreciation of the factors affecting the market, and know that there are options available to you.

If you would like to know more about your options, then call 800.972.1822 and schedule a free, no obligation consultation. Understand your options. Restore peace of mind. Get the help you need now. You have nothing to lose.

A New Foreclosure Bill – Senate Bill 1275

Kathleen Daniels — Wed, 09 Jun 2010 02:47:03 +0000

On Thursday, June 3, 2010, the California Senate approved a new foreclosure bill SB 1275. With a 21 to 12 vote, SB 1275 will be heard by the Assembly Banking Committee before it goes to the full Assembly for a vote.

Sen. Mark Leno (D-San Francisco) and Senate President Pro Tem Darrell Steinberg (D-Sacramento) are the authors of SB 1275 which has provisions that are intended to discourage careless, negligent, sloppy, laidback behavior from servicers … ultimately designed to prevent California foreclosures which would otherwise be avoidable.

SB 1275 would provide homeowners a means of recourse if the homeowner lost their home to foreclosure due to servicer errors. In addition, servicers would not be allowed to start the foreclosure process until a homeowner receives the final decision on the loan modification.

There is currently no means for a homeowner to seek recourse if their home is sold in foreclosure due to a servicer error. Senator Mark Leno and Senate President Pro Tem Darrell Steinberg intend to change this by providing recourse through a private right of action. Homeowners would be able to seek limited damages that relate to the degree of the servicer’s errors. This may include a homeowner’s right to reverse the foreclosure sale.

According to the Center for Responsible Lending (“CRL”), Bank of America executive Jack Schackett admitted during committee hearings that they “have not handled [their] customers to the standards Bank of America is accustomed to.”

Even when homeowners are following all the rules in applying for a loan modification and when they are making trial modification payments, servicers are still initiating the foreclosure process.

“Simple fairness dictates that no one should lose their home while they are in the middle of trying to save it,” said Paul Leonard, director of the California office of the Center for Responsible Lending. “A foreclosure that starts because a servicer’s left hand doesn’t know what the right hand is doing is the most preventable foreclosure of all.”

Will SB 1275 pass?

Servicers must do better at helping homeowners avoid foreclosure.

Intero San Jose Ca

Certified San Jose Short Sale Specialist

San Jose Ca Short Sales … Myth versus Fact

Kathleen Daniels — Sat, 28 Nov 2009 05:48:14 +0000

Thousands of San Jose Ca homeowners owe more on their San Jose home than it is worth and simply do no know what to do.

As a San Jose Short Sale Specialist I am a resource for real solutions. If you or someone you know owes more on their San Jose home than it is worth and are confused about the alternatives to foreclosure – specifically short sales then visit:

San Jose Short Sale Specialist

San Jose Short Sale Specialist is designed to transform confusion to clarity and provide real information. You can download a free report—prepared just for you — on the myths surrounding short sales. In reality, a short sale can be the best solution for certain homeowners who are struggling to pay their mortgage.

Don’t get derailed by a myth – now is time to get the right information.

When you visit San Jose Short Sale Specialist, download a free report—prepared just for you—on the truth about mortgage modifications. Loan modifications can be ideal for distressed homeowners. It is important to safeguard yourself from being taken advantage of. This is why I became a Certified Distressed Property Expert, equipped to guide homeowners through all of the options available.

Get the facts regarding your situation and always have a contingency plan. Together we can formulate a strategy and work toward a real solution.

Chances are, you or someone you know in San Jose California is facing the possibility of foreclosure. You need to understand that you are not alone.

Today, 1 out of every 10 homeowners in America is behind on mortgage payments. These are tough and frustrating times. Now more than ever, it’s important to identify your options. Foreclosure can be avoided, your credit can be saved, and your financial future can be salvaged.

As an agent with the CDPE® Designation, I have a strong and unique appreciation of the factors affecting the market, and know that there are options available for struggling homeowners. If you, or someone you know want to learn more about the alternatives to foreclosure, please visit San Jose Short Sale Specialist.

We are here to help … in any way we can.

Intero San Jose Ca