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REO is an abbreviation for a Real Estate Owned property. REOs and FORECLOSUREs are not the same thing. However, an REO is only produced as a result of a foreclosure where the lender has repossessed the property to re-sell.
Welcome to So California’s Inland Empire; Known as “The IE,” to locals. Find local and regional news, market conditions, and homes for sale; stay informed about issues that affect the San Bernardino / Riverside county economy.
Loss Mitigation is used to describe a third party assisting in the process of negotiation between a homeowner and their lender. Loss Mitigation works to negotiate terms for the homeowner that prevents foreclosure.
A short sale is a sales transaction in which the seller’s mortgage lender agrees to accept a payoff less than the balance due on the loan typically executed to prevent foreclosure, but may or may not involve a property in foreclosure.
MARKET CONDITION REPORT
INLAND EMPIRE WEST
July 8, 2007
PROVIDED BY CHICAGO TITLE
The market stalls as demand declines and supply is relatively constant.
Price weakness looks inevitable as pending price is less than current closing price.
See all the details …
Reverse Mortgage: Does it really make sense?
Traditionally reverse mortgages have been a convenient way for seniors in need of cash to access some of the equity in their home to supplement their lifestyles. I’m coming …
Here’s another great way to protect yourself from the current meltdown in the housing market. If you own a home and have an adjustable rate mortgage (ARM) set to adjust higher you need to:
Know your …
While the housing market continues to decline, there is a broad consensus among economists that a rebound will occur in 2008.
According to the ECONOMIC FOCUS, Volume 11, Issue 24 for the week of June …
The PMI Group has come out with their summer analysis of the metropolitan regions that have the highest risk of housing losing it’s value in the next two years. The Inland Empire region of Southern …
By: Michael Cook
Two major
Bear Stearns Hedge Funds
face foreclosure due to their significant exposure to the subprime lending market. While this does not fall under the category of real estate investor, I spent last …
Is Your Financial Future Secure?
Interest rates, including those tied to home loans, soared sharply last week across several markets, alarming consumers and investors alike. Let’s examine what caused rates to increase, how it could impact …
When you buy a house, lenders allow you the option of impounding your taxes and home owners insurance by including them in your monthly payment every month or paying them separately twice a year at …
Say you, as the Borrower, fall behind on your Mortgage. You need to catch your delinquent mortgage amount up to ward off going into default and eventually foreclosure.
Did you know that before foreclosure occurs, …
In researching the market, it may be a wise move for all you Buyers take a few minutes to have lenders re-qualify them. In the last few weeks we have seen mortgage rates jump as …
Seven of the top sixteen metropolitan areas with the highest rates of foreclosures in the nation are in California, according to the latest data from RealtyTrac. In the Stockton, Riverside/San Bernardino, Sacramento, Bakersfield, Oakland, Fresno …
To help clearly disclose the mortgage process, the federal government is giving their Good Faith Estimate document a makeover. Effective January 1, 2010, the current 2-page form will be replaced by a newly revised standard 3-page …
Did you know . . . Fannie Mae is offering special financing when you buy one of their bank owned homes!
This special financing is available on Fannie Mae homes with this logo:
How does this …
Times are certainly tough for sellers right now. And you probably won’t sell your house for the amount you would like. The best strategy for now would be to stay put and wait out the …
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