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Archive for February, 2012

February 23, 2012 HARP Program Updates

Drum roll please… The Home Affordable Refinancing Program 2 is here. As addressed in my December blog, HARP 1 did not have the effect the government was going for (less than 25% of the anticipated use). The new version has been put on steroids and was rolled out by lenders this week. This juiced up [...]

February 17, 2012 January Foreclosure Statistics

The January foreclosure reports are out. We watch San Diego County and the State of California new filings, outcomes and inventory on a monthly basis. Here’s a quick summary of the January report: Filings: As we expected, on both the County and State level we saw a significant increase in the number of Notice of [...]

February 9, 2012 January Market Statistics

The January market statistics are out and have been updated on the website. To download a PDF copy, please click here. Overall, there was a sharp decline over the previous month. This is not abnormal for the beginning of the year. In our own business, we have traditionally seen January as one of the slowest [...]

February 1, 2012 Obama’s Bulk REO Plans

At the beginning of the year, the Obama Administration announced a pilot program to sell government owned foreclosures (REO’s) in bulk to investors. Fannie Mae, Freddie Mac and the Federal Housing Administration currently have somewhere around 250,000 foreclosed properties on their books (don’t quote me on the exact number). While California has seen some stabilization [...]