More than two years after the government seized Fannie Mae and Freddie Mac, the Obama administration will recommend phasing out the housing-finance giants and gradually reducing the government's footprint in the mortgage market, according to people familiar with the matter.

The administration is expected to include three options for a post-Fannie and Freddie world when it releases a long-awai ...

Once every homeowner's answer to a cash shortfall, the ability to borrow against your home equity all but disappeared a few years ago right along with, well, home equity. But now, at a growing number of banks around the country, home equity loans and lines of credit are back – and so are the pitfalls that go with them.

After more than three years, some lenders are cautiously re-entering the s ...

Housing markets will remain flat, flat, flat in 2011, according to forecasts from the Mortgage Bankers Association.

The organization, which represents more than 80% of the nation's mortgage business, predicts that overall home sales will inch down 0.1% during the year. Sales of existing homes will fall 1% to 4.82 million, and new home sale will rise 10% to 358,000.

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Watch the following July foreclosure radar report, According to Sean Otoole who is the CEO of Foreclosureradar.com he claims the wave of foreclosures is not going to happen anytime soon. While there are lots of NOD's being recorded right now, they are at least a year away from hitting the market.

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Haven’t had time to update the blog lately but thought I would get some data posted for July. NOS's or Notices of Trustee Sale are definitely increasing. This means more properties going to the chopping block. However notices of default are down by half when compared to this time last year. See the below graphs.

 
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Here is our march foreclosure update:
Notices of default are down around 50% from last year and roughly the same compared to last month.

Notices of trustee sale are down around 8% from last year but up around 12% from last month. Buying homes in Trustee sale is my new favorite hobby so I hope this number rises and I expect it will for the next few months and start to ease off as new legisla ...

CNN just published an article on the most overvalued cities in in U.S. along with the most undervalued.  4 out of the 10 are in California. Not surprising Las Vegas #1.

Some people out there have been getting frustrated with their lenders for not willing to negotiate, however this man decided to bulldoze his house in attempt to send a message. If your underwater thats one thing but the owner had $190,000 in equity in the home before bulldozed it.....

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Foreclosure filings for January 2010 were down respectively for California, how ever if we take a closer look at San Diego County we can see that Notices of Default were up about 33% from December. Notices of Trustee sales were about the same as the past 2 moths. Click here to view more San Diego foreclosure information.

Source: U.S. Bureau of Labor Statistics.

U.S. unemployment rate fell by .3% to 9.7%. So the number of unemployed people is down to 14.8 million. Great right? No, the government is no longer counting people who have "run out" of unemployment benefits or are "no longer" actively looking for a job in this statistic. In a nut shell the government is trying to fake a recovery by manipulating wal ...