Archive for the 'Sacramento Foreclosure FAQ' Category
Foreclosure Timelines and Short Sale Time Lines For Sacramento County
[caption id="" align="aligncenter" width="497" caption="Foreclosure Time Frames - Sacramento County, CA -or- Time To Foreclose In Sacramento County. This Chart Answers The Question "How Long Can I Stay In My Home If I Do Foreclosure?""][/caption] Time to Foreclose in Sacramento County; This Chart shows Three Graphs: Time to foreclose: The average number of days between the filing of the California Notice of Default - the beginning of the California foreclosure Process) and the final sale at auction in Sacramento County. Time to Resell—The average number of days between the final sale at auction and when the property was resold by the bank or 3rd party. (This amount of time has been steadily increasing for the banks, as more and more...
Foreclosure Time Lines In Sacramento, El Dorado and Placer Counties
06067 - Time to Foreclose Time To Foreclose in Sacramento has stayed fairly stable- the Sacramento County Foreclosure Timeline has fluctuated from a low of 223 days to a high of 314 days- These are the average number of days the foreclosure process is taking in all of Sacramento County from the formal start of the foreclosure process; Notice of Default to the actual trustee sale. How Long is the Foreclosure Process in Sacramento? 06017 - Time to Foreclose Foreclosure time lines in El Dorado County have been all over the board; The foreclosure process in El Dorado County has been fluctuating a bit more recently; from a low of 199 days to a high again of 314 days. Remember; these are the...
Sacramento Short Sale Process To Improve With New Government Short Sale Process
Another Sacramento Area Short Sale Expert Report When will it really start to help Sacramento area Short Sale Sellers? [caption id="attachment_1369" align="aligncenter" width="300" caption="New Government Short Sale Process will help stop more Sacramento area foreclosures"][/caption] I've been so excited about the new Government Short sale program. But the improvements have been so slow- April 10th is when I understand the servicers will have to comply, so they only have a couple months left to get their act together! Fourteen servicers, including the five largest, signed contracts and began modifications and refinancings under MHA. Between loans covered by these servicers and loans owned or securitized by Fannie Mae or Freddie Mac, more than 75 percent of all loans in the country are now covered by the Making Home...
California Foreclosure Timelines And California Short Sale Timelines
[caption id="attachment_3434" align="aligncenter" width="300" caption="Foreclosure And Short Sale Time Lines"][/caption] Stressed Sacramento Homeowners Looking for Options Ask; What Is The Actual California Foreclosure Processing Time? Sacramento Short Sale Specialist Forth Hoyt Reports: Sacramento Short Sale Information and Short Sale Training For Sacramento Area Homeowners. Understanding Short Sales Means Understanding Foreclosure Time Lines In California. What is the time to foreclose in California? Foreclosure– how do you mean that? Most of the time, Foreclosure means one of a couple of things; one is a process, as in “my Brother is in foreclosure”, or second, it can be an actual event: “that 4600 square foot home went for $243,000 at the foreclosure sale the other day…” You see, foreclosure as a process means...
Foreclosure Advice -Foreclosure Glossary
Sacramento Short Sale Specialist Report: Acces to the Web's mst extinive Forecloure Glossary courtesy www.foreclosureradar.com A — Abstract of Title — A documented history of the title to a piece of real property, detailing the original grant and all subsequent conveyances, encumbrances and liens affecting the property, the results of which are reduced to a written summary and reviewed to prepare a title insurance commitment or binder subject to various conditions. An abstract of title can be a full abstract; an abstract of current owner; a date-down or bring-down, an update from a given date. The abstract will include a review of all documents associated with a real property. Acceleration Clause — An advance of the due date on a debt established through a...
Benefits Of A Short Sale From Short Sale Specialist
[caption id="attachment_5199" align="aligncenter" width="500" caption="Foreclosure Options"][/caption] As a Sacramento Short Sale Specialist, I am constantly being asked about the benefits of a short sale... Strategic short sale or strategic foreclosure? These are personal questions, and ones only you can answer for yourself. But before you do, consider this: The 'hit' to your credit is not only going to be from the foreclosure event, it will also be much more affected by the amount of time you miss payments. Here in the Sacramento area, one of the top foreclosure areas in California, "strategic Foreclosure", which it has been termed, is when a homeowner makes the conscious decision to let go of his ties to the home, quits paying and ...
Sacramento Foreclosure Options Specialist Education…Foreclosure Time-Lines in California
Sacramento Certified Pre-Foreclosure Specialist Report: Foreclosure– how do you mean that? Sacramento Foreclosure Advice: Understanding Foreclosure and Foreclosure Options As a Sacramento area Short Sale Specialist and Certified Pre-Foreclosure Specialist I spend a large prtion of my day visiting with area homeowners with questions. I love being a source of inforation and also enjoy the opportunity to meet great pwople and help them understand thir options, understand the process and systems they find themselves in and also understand what decisions they may need to make and the ramifications of those decisions. One of the most frequent questions I get s about the foreclosure proces, as in "could you explain foreclosure"? Foreclosure: a process and an event… The word Foreclosure means one of a couple of things; most of...
Short Sale Unplugged
Sacramento Short Sale Expert Report By a Certified Pre-Foreclosure Specialist, Forth Hoyt Sacramento Short Sales now 21.5% of Market Sacramento’s Short Sales have taken over the market! And Sacramento has recently been a perfect storm for short sales.Short Sales will be the "all the rage" in 2010 for many reasons, but I thought I'd write a real basic article about how we got here... A short sale specialist can give you a very accurate indication of the chances you have of completing a short sale, after looking at your situation and your. Every bank is different and your short sale expert knows which banks and secondary market investors have the best systems, guidelines and policies to process these challenging transactions, and can look at your individual case...
HAFAP: New Government Short Sale Guidelines- Newest Help For Sacramento Short Sales
[caption id="attachment_612" align="alignleft" width="176" caption="Government Shortsale Guidelines"][/caption] GOVERNMENT SHORT SALE GUIDELINES The Newest Government Foreclosure Acronym- HAFAP or Home Affordable Foreclosure Alternatives Program will definitely bring some strong incentives for lien holders to move quickly on short sale files. Beginning April, 2010, the Home Affordable Foreclosure Alternatives Program (HAFAP)and its recently issued guidelines should help to streamline the short sale process and reduce the backlog that is plaguing home buyers and lenders now. Not only should the process be shortened dramatically, it will also mean less vacant and vandalized properties, a common problem in neighborhoods everywhere. Here art the new short sale guidelines. these will go into effect April 5th: Borrowers will now receive pre-approved short sale terms BEFORE listing the property. These...
The GAO Latest Report: Characteristics and Performance of Nonprime Mortgages
[caption id="attachment_240" align="alignright" width="133" caption="Great Reports done By GAO"][/caption] See the entire report here Characteristics and Performance of Nonprime Mortgages During the first part of this decade, the number of mortgage originations grew rapidly, particularly in the nonprime segment of the mortgage market, which includes subprime and Alt-A loans.1 In dollar terms, nonprime loans accounted for an increasing share of the overall mortgage market, rising from 12 percent in 2000 to 34 percent in 2006. Over this period, the dollar volume of nonprime mortgages originated annually climbed from $100 billion to $600 billion in the subprime market and from $25 billion to $400 billion in the Alt-A market.2 However, these market segments contracted sharply in the summer of 2007, partly in response...
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