Monthly Archives: January 2009

236,000 California Home Foreclosures in 2008

By William Heisel January 28, 2009 More than 236,000 homes were lost to foreclosure in California last year, topping the previous nine years combined, data released Tuesday show. And the number of borrowers who defaulted on their payments hit a … Continue reading

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Wells Fargo California Real Estate Mortgages

By Jody Shenn Jan. 27 (Bloomberg) — Wells Fargo & Co., the second-biggest U.S. home lender, has been prevented from lowering mortgage rates faster because it can’t keep up with demand and the costs of making home loans are rising, … Continue reading

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California Real Estate Brokers in Trouble

SAN FRANCISCO (KCBS)  — The bursting bubble that is the California real estate market is taking the careers of thousands of realtors and mortgage brokers with it. Unemployment in that field is way up, and so is the number of complaints … Continue reading

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Bay Area Foreclosures High in California

A total of 236,231 homes statewide, or 2.8 percent of all the state’s housing stock, were repossessed by banks last year, according to the report from real estate information service MDA DataQuick of San Diego. In the nine-county Bay Area, … Continue reading

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Mortgage Spread Too High Between Bank and Home Owners

By James Sterngold Jan. 26 (Bloomberg) — Shannon Luhrsen, a stay-at-home mom in Wilmington, North Carolina, can’t understand why she should pay 5.8 percent for her mortgage when her local bank gets money from the Federal Reserve at little more … Continue reading

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