Random Feed wrote an interesting post today on
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Mortgage default notices have dropped significantly in San Diego in recent months, but many borrowers are still falling behind on payments and short sales are becoming a more common exit for troubled mortgage holders rather than foreclosures, say brokers and other real estate analysts.

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Random Feed wrote an interesting post today on
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This morning, we discussed Strategic Mortgage Default. This afternoon, let’s look at Strategic Non-Foreclosure.Data via LPS‘ Monthly Mortgage Monitor shows a growing disparity between delinquencies and foreclosure starts. In other words, as more people fall behind on their mortgages, banks are becoming increasingly leery of putting them into foreclosure. LPS calls this “Shadow Foreclosure Inventory” – The number of loans deteriorating further into delinquent status is more than twice the volume

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wrote an interesting post today on
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The Irvine Co.’s big splash into the San Diego office market has apparently hit a few snags as a major credit-rating firm has discovered two problem mortgages backed by buildings owned by the Orange County-based real estate giant. Fitch Ratings expects mortgages on a pair of offices towers owned by Irvine Co. around La Jolla to go into default, not meeting terms of what appears to be $206 million in initial mortgages debt. So … Irvine Co. response? “As a diverse, private real estate compan

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Random Feed wrote an interesting post today on
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The answer is “Yes.” You don’t have to lose your home in bankruptcy. I’ve done loans for many clients who kept their homes through bankruptcy. But they kept their mortgage payments current, or close enough to current. The condition that causes you to lose your property is called foreclosure. The specifics vary from state to state, but here in California, the lender has the option of marking you in default when you are 120 days in arrears on your mortgage. Default causes you to lose some ri

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Random Feed wrote an interesting post today on
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“It all sounds like a classic tale of the bust except that, unlike ordinary people caught up in foreclosure proceedings, Gluck and his partners have made a fortune off Riverton Houses. Just as homeowners often take out some extra cash when they refinance a property, team Gluck pulled out $67 million — the high-roller version of cash at closing. A homeowner would be on the hook for that extra cash, but Gluck’s group purchased Riverton through a limited liability shell company, which allows it to

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