For anyone reading this that uses Yelp on a personal level, you know how powerful of a resource it is.  If you haven’t used Yelp, you should take a look. We have used it to find everything from a restaurant to a doctor.  I never go to a restaurant without first checking the reviews and will rarely use any provider or service without checking up on them.… Read the rest

The Mortgage Forgiveness Debt Relief Act of 2007 was enacted on December 20, 2007. Generally, the Act allows an income tax exemption for a homeowner that has income realized as a result of a loan modification, short sale or foreclosure.

The Act is set to expire at the end of this year (December 31, 2012). This means that if anyone wishes to take advantage of the benefits of this Act, they must complete their modification, short sale or foreclosure on or before Dec 31, 2011.… Read the rest

The December home sales numbers for San Diego came out and are a good reflection of how the overall market performed for 2011. Close to one third of all sales involved a foreclosure and about 20% of sales where a short sale.

The overall sales numbers were higher than a year ago, but still more than 20 percent below the average number of transactions for the month.… Read the rest

Home prices hit new lows in March making it the lowest month in the housing market falling past the bottom reached two years ago.  And with prices falling again, some economists fear that the nation’s housing market could enter a new downward spiral with declines pushing more borrowers underwater, triggering more foreclosures and setting off further drops.  

Home prices in big metro areas have sunk to their lowest since 2002, the Standard & Poor’s/Case-Shiller 20-city monthly index showed Tuesday, May 30th.… Read the rest

Bank of America is the first of the banks that halted foreclosures to announce they are resuming foreclosures in the 23 states that require judicial foreclosures.  In the other 27 states, the foreclosure freeze is still in place while they continue their review of procedures.

According to a BofA spokesperson, they plan to resubmit documents by October 25th, with new signatures in the 23 states that require a judge’s approval to restart the foreclosure process.… Read the rest

On Tuesday afternoon, the attorney General of Alabama Troy King announced that they would end their hold out and join the other 49 states in the investigation of possible improper foreclosures by the nation’s largest lenders.   Originally, Alabama was not joining the nationwide inquiry.

The inquiry into the foreclosure processes is going to be led by Iowa’s Attorney General Tom Miller.… Read the rest

Officials in 49 of our 50 states and the District of Columbia have launched a joint investigation in the allegations that documents involved in the foreclosure process were mishandled in the foreclosures of thousands of homes throughout the US. During their investigation, the attorneys general will be verifying whether documentation was incorrectly handled and/or false statements were made. Alabama is the only state that has not joined the investigation.… Read the rest

Three of the largest mortgage lenders have announced that they are halting foreclosures in the 23 states that go through the judicial process of foreclosure and require a judge’s signature in to complete the foreclosure.  In the other 27 states, foreclosures were continuing as normal.

On Friday, Bank of America announced that were expanding their hold on foreclosures to all 50 states and today (Monday) Chase announced that they were also expanding their review to include states that do not require a judicial foreclosure.… Read the rest