California Notice of Defaults hit Record in 2009: Approximately 476,000 Notice of Defaults but Foreclosures Fell. HAMP Most Active in California. Approximately 5,900 Permanent HAMP Mods in California.
California is at the center of the foreclosure wave. Of the 306,000 foreclosure filings in November 23 percent hit in California. You cannot talk about housing distress without looking at the state of California. The California housing market will be in a slump for many years and there are a variety of reasons why California [...]
The Negative Equity Conundrum: Why Having Equity in a Home is Important. 1 out of 4 Mortgage Holders in a Negative Equity Position.
The post title should be obvious but something occurred during this decade that gave the impression that somehow, equity in a property was of little importance. The last time in our history that we saw this massive amount of negative equity was during the Great Depression. But even then, it was a poor comparison because [...]
Riverside and San Bernardino Housing: Two SoCal Counties with 4 Million People Experience 60 Percent in Housing Price Declines. And Prices are Still near the Bottom.
The Inland Empire of Southern California has been devastated with the current housing bubble bursting. A few other bloggers have covered this area in great detail but it is important to examine what is happening here. The Inland Empire is made up of two large counties, San Bernardino and Riverside. Before we look at details [...]