For the fourth successive months notice of default filings are up in California. According to ForeclosureRadar August brought a 16.6% increase in the first step in the state’s foreclosure process. The same report, release by the tracking firm shows a 11.2% drop in foreclosure cancellation in August, and more homes repossessed by the lenders. ForeclosureRadar [...]
California rejected a new law that would have protected foreclosure victims. More house owners would have been able to come under a safety umbrella. The Assembly has rejected the law project that would have mandated loan servicers to first give consideration to modification proposals before proceeding with foreclosure. SB 1275 as the bill was named, [...]
LNC Partner Inc. sold the Mission Plaza Hotel & Suites near Seaworld for $12.5 million. The 316 room hotel was purchased by Reven Capital and Jet Stream Hotel & Resorts. The sale represented an almost 70% loss on the $43 million price that LNR paid for the hotel when it entered into foreclosure. It looks [...]
The houses purchased by Indio from Freddie Mac and bank foreclosure lists were renovated and they are ready for selling. The renovation process was made with the help of the Neighborhood Stabilization Program and Indio is ready to make them really affordable by offering financial assistance to buyers up to a maximum of $75,000 or [...]
