Chino Hills Real Estate Blog

Considering Default Strategy?

Gail Griffin — Sun, 05 Feb 2012 00:38:00 GMT

Talking Points As the housing market continues to struggle for stabilization, many homeowners are turning to strategic default. Almost 11 million homes are now underwater, according to Corelogic. Around 3.5 million homeowners are behind in their payments...(read more)

Treasury, FHA to let borrowers appeal mortgage servicer action

Gail Griffin — Sun, 05 Feb 2012 00:36:00 GMT

HousingWire The Treasury Dept. and the Federal Housing Administration will issue new rules in the coming months allowing borrowers to appeal mortgage servicer decisions under certain modification programs. Read the full story...(read more)

On troubleshooting

Gail Griffin — Sun, 05 Feb 2012 00:35:00 GMT

The New York Times Those who have issues with their mortgage lenders now have another place to take them: The Consumer Financial Protection Bureau, which began accepting such complaints and inquiries this month. Read the full story...(read more)

Foreclosures made up 20 percent of home sales in 3Q

Gail Griffin — Sun, 05 Feb 2012 00:33:00 GMT

CNNMoney Sales of homes in foreclosure comprised 20% of all U.S. residential sales during the third quarter, according to RealtyTrac. Read the full story...(read more)

Fight property tax bill with these tips

Gail Griffin — Sun, 05 Feb 2012 00:32:00 GMT

The Mercury News Declining house values create great opportunities for homeowners to contest their property tax bills and potentially save big money. Read the full story...(read more)

Fannie and Freddie don’t deserve blame for bubble

Gail Griffin — Sun, 05 Feb 2012 00:31:00 GMT

The Washington Post There is plenty of blame to go around for the U.S. housing bubble, but not much of it belongs to Fannie Mae and Freddie Mac. Read the full story...(read more)

Mortgage crimes are focus of new task force

Gail Griffin — Sun, 05 Feb 2012 00:30:00 GMT

CNN Money... President Obama announced last week that he’s asked the Justice Department to create a special unit of prosecutors and state attorneys general to investigate abusive lending and packaging of risky mortgages that led to the housing crisis....(read more)

More mortgage relief from the White House – but congressional ok doubtful

Gail Griffin — Sun, 05 Feb 2012 00:28:00 GMT

Mercury News... In his State of the Union Address, President Obama laid out a plan to help responsible borrowers and support a housing market recovery. Details of that plan were released yesterday. However, funding for the proposed program must be approved...(read more)

C.A.R. Sales Reports

Gail Griffin — Thu, 02 Feb 2012 12:41:00 GMT

Talking Points The CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) Pending Home Sales Index (PHSI)* fell from a revised 108.7 in November to 91.6 in December, based on signed contracts. The index was up from the revised 82.5 recorded in December...(read more)

Consumer group tentatively supports $25-billion mortgage deal

Gail Griffin — Thu, 02 Feb 2012 12:38:00 GMT

The Los Angeles Times The Center for Responsible Lending has called a proposed $25-billion settlement over faulty foreclosure practices between attorneys general, federal agencies, and the mortgage industry “an important step in addressing foreclosure...(read more)

Housing inventory ends year down 22 percent

Gail Griffin — Thu, 02 Feb 2012 12:34:00 GMT

The Wall Street Journal l There were fewer houses for sale at the end of 2011 than in any of the previous four years, a positive sign for the housing sector. Read the full story...(read more)

Fed: Interest rates should stay low until late 2014

Gail Griffin — Thu, 02 Feb 2012 12:32:00 GMT

The Mercury News The Federal Reserve said it’s unlikely to raise its benchmark interest rate before late 2014, extending its time frame by at least a year and a half. Read the full story...(read more)

Sales stir hope for housing market

Gail Griffin — Thu, 02 Feb 2012 12:31:00 GMT

The Wall Street Journal Existing-home sales increased 5 percent in December from a month earlier, to a seasonally adjusted annual rate of 4.61 million units, the NATIONAL ASSOCIATION OF REALTORS® said Friday. Read the full story...(read more)

A reprieve for unemployed borrowers

Gail Griffin — Thu, 02 Feb 2012 12:27:00 GMT

The New York Times Fannie Mae and Freddie Mac recently extended their foreclosure forbearance programs to give short-term aid to unemployed homeowners, but housing counselors warn that these borrowers will need to look at longer-term solutions. Making...(read more)

December Stats

Gail Griffin — Thu, 02 Feb 2012 12:23:00 GMT

Calif. median home price : December 2011: $285,920 (Source: C.A.R.) Calif. highest median home price by region/county December 2011: Marin: $693,880 (Source: C.A.R.) Calif. lowest median home price by region/county December 2011: Madera: $106,000 (Source:...(read more)