Author Archives: ShortSense

High home prices making 1 out of 3 homes unaffordable. Prefab homes may be a viable option

It’s no secret that homes have been appreciating in value the past few years.   Some areas in some states have not fully recovered from the 2007 market crash but they’re getting close.  Homes in some cities have appreciated beyond their … Continue reading

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Home prices continue to increase, industry experts optimistic

As many prospective buyers of homes for sale in Los Angeles continue to become homeowners while affordability is high, they are helping to reduce the inventory of delinquent homes. Foreclosures and short sales have previously hindered home prices, but CoreLogic’s … Continue reading

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Mortgage Cram-downs will Cost Hard-Working Americans

It seems that some people in Washington are starting to realize what we in the mortgage business have known for a long time – loan modifications don’t work. Jim Puzzanghera reports in the LA Times this morning that: Federal programs aimed … Continue reading

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Don’t Believe the Hype on June Home Sales Increase

Today the NAR came out with a report showing that the volume of home sales in many parts of the country is up.  This has lead many in the media to declare that the housing market has hit a bottom … Continue reading

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New Federal Home Loan Rules are too Much of a Good Thing

Starting on July 30th, lenders and brokers will have to begin providing borrowers with a whole slew of new disclosures – some good, most bad.  One of the worst of the new requirements, as reported by Ken Harney in the … Continue reading

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Mortgages in Default Increase Sharply in California

According to First American CoreLogic, Inc., 9.5% of California mortgages in May were in default, up sharply from 5.8% in May 2008.  This will ultimately result in more foreclosures, short sales and bank owned properties coming on the market, assuming … Continue reading

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Jamie Dimon Throws the High Hard One at Uncle Sam

From Connie Madon at Imagine this:Your bank holds $81 trillion dollars worth of derivatives which is 40% of all the derivatives held by all the banks. Actually this is not a fairy tale. JP Morgan Chase (NYSE: JPM) does own this staggering … Continue reading

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Walking Away From Mortgage is a Strategic Decision for Many Homeowners

There was a report out last week, as reported by Kenneth Harney at the LA Times, that revealed some not-so-surprising information on why people walkout on their mortgage; about 26% see it as a strategic business decision. Among the study’s … Continue reading

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Is a Short Sale the Answer for Lenny Dykstra?

CNBC reporter, Jane Wells sat down with “Nails” this week at his Sherwood Country Club estate to discuss his recent Chapter 11 bankruptcy filing.  Lenny bought the estate two years ago from “The Great One”, Mr. Wayne Gretzky, with a … Continue reading

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Its Always Cloudy in Sun Valley

At investment bank Allen & Company’s annual Sun Valley retreat, Rupert Murdoch sounded off on his feelings about the economy and where its headed after he spoke with some Silicon Valley and Wall Street insiders: “I’m shocked at the business … Continue reading

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