Bankruptcy can be a prudent course of action as a mechanism to achieve Foreclosure Prevention. That said, Bankruptcy is serious matter and should not be taken lightly. There is a library worth of Bankruptcy information on the internet so I’m going to boil this blog posting down to the brass tax. Chapter 7 Bankruptcy: This [...]
Many people call my office looking for advice as it relates to Foreclosure Prevention. Considering the fact that of 27 million mortgage loans originated over a five-year period found It was determined that 6.4 percent of the mortgages made between 2004 and 2008 have ended in foreclosure, and an additional 8.3 percent are at immediate, [...]
According to an August 16th article in the Tri-Valley Herald (Source: Rick Radin, Staff Writer), Foreclosure Evictions are on the RISE. The article suggests that the Oakland Alameda area has seen a 46% increase in Sheriff lock outs, and a 16% increase in Contra Costa County. To make matters worse, rents in the “Bay Area” [...]
The article below shows that Short Sales are on the rise. This should come as no surprise, but what is worth noting is that a short sale can’t be executed if the seller can’t find a buyer before the bank puts the home up for courthouse auction. http://www.dsnews.com/articles/industry-data-points-to-record-high-level-of-short-sales-2011-04-25 If you are in the process of [...]