Mortgage Faud Runs Rampant In California

Mortgage fraud activity slowed overall in the third quarter, but California ranks first in home loan fraud, with the state seeing as much as $204.2 million in losses on deceptive mortgage activity.

That’s according to a new report from MortgageDaily, which found that lenders victimized by fraud faced inflated appraisals and fraudulent documentation. California was followed by New York, which experienced $199.6 million in losses from nefarious activities in mortgage finance. Read more of this post

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Foreclosure Sales Slow on the West cost

With the holiday season approaching, the research and tracking firm ForeclosureRadar is seeing declines in the number of completed foreclosures in four of the five states it monitors along the country’s West Coast.

ForeclosureRadar’s coverage area includes Arizona, California, Nevada, Oregon, and Washington. Only Arizona saw foreclosure sales rise in November, up 25 percent from October. The company notes, however, that Arizona’s increase last month simply offset the 20 percent drop seen in October and is still well below the state’s average monthly sales for the year.

“It’s great to see the banks slow down foreclosures and evictions for the holidays,” said Sean O’Toole, CEO and founder of ForeclosureRadar. “We expect that the numbers will drop even further in December.”

1946 Vintage Streetcar in use Downtown!

Eight years ago, the rusted relic of a once proud 1946 PCC streetcar sat neglected under pine trees in South Lake Tahoe. After 4,500 hours of loving restoration by a team of volunteers, that same car will be making stops at all Vintage Trolley stops along the downtown loop. The ride only costs $2.00 for adults and $1.00 if you are a senior or disabled. Children 5 years old or younger ride for free!

Take a ride through time aboard the San Diego Vintage Trolley Silver Line and connect with San Diego’s historic transit roots. It’s a fun and exciting way to see all of Downtown San Diego’s greatest destinations: the Gaslamp Quarter, Seaport Village, PETCO Park, East Village and the waterfront. The Vintage Trolley also stops at 12th & Imperial, San Diego Convention Center, America Plaza, Civic Center, Fifth Ave., City College and Park & Market. You can get to Vintage Trolley stations via modern trolley service and many bus routes.

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Parking app for San Diego that will save you time and money!

This application is a must have for any San Diegan that frequents downtown.

CLICK HERE TO DOWNLOAD THE APPLICATION FOR $1.99

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Prudential sells residential real estate division to Toronto-based company

What does this mean for the real estate industry? How will this change the dynamic of name recognition for a trusted Real Estate Company? Prudential has been a great real estate company umbrellaed under a financial services company, but how will the sale of their real estate arm affect their agents and their customers? Only time will tell. Century 21 has always been the most recognized name in Real Estate and we will continue to be here for you. Read more of this post

Prudential sells residential real estate division to Toronto-based company

What does this mean for the real estate industry?  How will this change the dynamic of name recognition for a trusted Real Estate Company?  Prudential has been a great real estate company umbrellaed under a financial services company, but how will the sale of their real estate arm affect their agents and their customers?  Only time will tell.  Century 21 has always been the most recognized name in Real Estate and we will continue to be here for you. Read more of this post

House bill proposes 1-year limit on foreclosure deficiencies

A bill introduced in the U.S. House of Representatives would limit the time frame for deficiency judgments against single-family homes and give protection to low-income households.

House Resolution 3566, also known as the Fairness in Foreclosures Act of 2011, would put a one-year limit on any judgment except in states that have shorter restrictions. Existing law would take precedence in those states.

Rep. Ed Towns, D-N.Y., introduced H.R. 3566 on the House floor Tuesday.

“A deficiency judgment after foreclosure seems to be one of the greatest injustices that occur to homeowners after they have gone through the arduous foreclosure process,” Towns said in a release. “Not only are they behind by thousands of dollars on their mortgage payments and facing public auction of their houses, the ordeal may continue indefinitely.”

The bill would also prohibit deficiency judgments against a borrower in a “low-income family,” and any deficiency would not be reported to credit agencies.

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