Where the market has not hit bottom

 RealtyTrac found. while the number of overall foreclosures fell by 35% in June from a year ago – to the lowest level since December 2006 – the number of so-called judicial foreclosures surged 34%. In California, we have a trust deed state. That means that foreclosure...

Banks are ignoring new regs

Why am i not surprised? We regulate and banks ignore. Same old story. New laws in Ca. say that dual tracking is illegal. That is when banks continue the foreclosure process while you are negotiating a loan modification.  They are not supposed to do it. Still doing it....

Insulting homeowners

As part of a settlement from the banks to compensate them for illegal things they did during the foreclosure process, the banks have agreed to compensate the homeowners. What they actually did  send was insulting- usually $300....

Foreclosure slowdown

The California Homeowner Bill of Rights (HBR) which just passed is the reason behind the recent slowdown in foreclosure sales and short sales in Ca. The reason for this is because of the litigation risk from this bill. Lenders have become more cautious when carrying...

Banks are not paying attention to the law.

Last year the 5 biggest banks cut a deal with 49 attorney generals.They were B of A, Chase, Wells Fargo, Citigroup and Ally financial.  In return for not being sued, they agreed to certain practices. No dual tracking. That means that they can’t continue with the...