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Foreclosure activity sinks to a five-year low

By Alejandro Lazo — Thu, 17 May 2012 17:51:00 +0000

Foreclosure activity in the U.S. fell last month to its lowest level since the start of the credit crisis in 2007, driven largely by drops in states such as California, where the process occurs outside of the courtroom.

Foreclosures fall to lowest level since 2007

joelc — Thu, 17 May 2012 15:50:00 +0000

Foreclosures fall to lowest level since 2007 By Les Christie, CNN Money, May 17, 2012 NEW YORK — Foreclosure filings in April fell for the third straight month to the lowest level since July 2007. Will Short Sales Finally Save the Housing Market...(read more)

So. cal market up again

Phyllis — Wed, 16 May 2012 18:46:19 +0000

Sales are up 5.1 % over last year. This is a first in 16 months. Median price rose 3.6% to 290k. Inventory is low and there are less foreclosures and more short sales. Plenty of cash buyers are also making the market tight. This trend will continue. DON’T WAIT TO GET IN!!! Time is ticking away.

read the article

Barclays Advocates Short Sales to Lower Loss Severities

joelc — Tue, 15 May 2012 17:12:00 +0000

Barclays Advocates Short Sales to Lower Loss Severities By Carrie Bay, DSNews, May 15, 2012 With vacant homes stretching the capacity of banks’ balance sheets and homebuyer demand lackluster at best, short sales are becoming a top loss mitigation...(read more)

NY home loan court filings still marred

joelc — Mon, 14 May 2012 17:18:00 +0000

NY home loan court filings still marred By Catherine Curan, New York Post, May 12, 2012 Foreclosure-mill attorneys are routinely breaking the law and clogging New York courts with unresolved cases, an explosive new study shows. Top Fla. Court Hears Landmark...(read more)

Home of the Week Update

L.A. Times - Real Estate News — Sun, 13 May 2012 07:00:00 +0000

New life for a California Classic

Can ‘absentee owner’ be barred from seeking board seat?

By Stephen Glassman and Donie Vanitzian — Sun, 13 May 2012 07:00:00 +0000

The board of a homeowners association has repeatedly said a titleholder is not eligible for office because the person is an 'absentee owner.' Is that legal?

Question: Shortly after I bought my town home I had to rent it out and move in with my mother because she could no longer live alone. Since I became an owner I've never been late paying my homeowner dues, and my unit is well maintained. Every year the association sends me requests for nominees to serve on the board.

Julie Andrews’ Brentwood house isn’t going for a song

By Lauren Beale, Los Angeles Times — Sun, 13 May 2012 07:00:00 +0000

The home Andrews owned with her late husband, director and screenwriter Blake Edwards, is listed for $2.649 million. It's already in escrow less than a month after going on the market.

Singer and actress Julie Andrews has listed the Brentwood house she owned with her late husband, director and screenwriter Blake Edwards , for $2.649 million. Less than a month after coming on the market, the tidy white home with gray shutters is already in escrow.

Lenders are using a variety of tools to prevent mortgage fraud

By Lew Sichelman — Sun, 13 May 2012 07:00:00 +0000

Websites and other tools can help nab fibbers who just want to buy a house, as well as out-and-out perjurers looking to bilk lenders out of hundreds of thousands of dollars.

Don't even think about fudging on your application for a mortgage by inflating your income a tad, checking the box to indicate you're going to live there when you're really not or exaggerating your job description.

12 reasons why the housing crisis happened

Phyllis — Fri, 11 May 2012 19:35:28 +0000

This is a fed report outlining 12 facts (as they see it) for why the housing market crashed. I am not sure i believe all of this. After all, the fed has not been very forthcoming or honest about much that has to do with housing.

Read the article and tell me what you think