Foreclosure 
There are currently 23 blog entries related to this category.
Rising Trend Points a Way to Keep Your Santa Cruz Home
Thursday, August 26th, 2010 at 1:01am. 2 Views, 0 Comments.
According to RealtyTrac, 1 in 70 homes have received foreclosures notices since January, 2010 – a total of 1.7 million houses in the U.S. Was your Santa Cruz home one of them? In previous blogs, we’ve covered several ways to avoid foreclosure, but a rising trend has brought another possibility to the forefront.
According to a recent Pew Research Center study, many individuals are surviving the economic blues by expanding their households. By the end of 2008, more than 16%, or 49 million, of Americans lived in a household with more than one generation. Although the statistics aren’t back yet for 2009 -2010, experts expect the numbers to be even higher.
These Americans aren’t all young college graduates moving back in with mom and dad, either. Parents have…
April 5th – An Important Date for Santa Cruz Homes for Sale
Saturday, April 10th, 2010 at 1:01am. 71 Views, 0 Comments.
April has a lot of important and semi-important dates in it. The tax deadline, Good Friday and Easter are just a few. What is April 5th, though, and what does it have to do with Santa Cruz homes for sale? Well, the biggest news is that the government has stepped into real estate and short sales.
Home sales are down nation-wide, despite the Obama administration’s efforts with the first-time buyer’s tax credit. Many homebuyers are waiting for a better interest rate or to see if home prices will drop more. Meanwhile, owners with Santa Cruz homes for sale are preparing for the spring selling season, without any idea whether they’ll actually be able to sell or not.
Part of the reason for this situation is because of the depreciated housing values. For instance,…
Taking Advantage of Santa Cruz Foreclosures
Friday, April 2nd, 2010 at 1:01am. 45 Views, 0 Comments.
Many potential homeowners are starting to look towards Santa Cruz foreclosures as a way to get the home of their dreams without spending their life savings. What they may not realize is that the sheer amount of foreclosed properties can be daunting. Some are so completely overwhelmed by the choices that they give up and walk away.
Santa Cruz foreclosures can be great deals, but you’ll have a few decisions to make before you even go looking. Because there are so many options, here and throughout the nation, it’s important to figure out what type of foreclosed home is best for you.
Government Foreclosures
Homes with federally sponsored loans, such as HUD homes, are repossessed by government housing agencies. Because these homes offer a lot of opportunities for…
10 Ideas to Save Money and Make Your Santa Cruz Home Greener
Tuesday, February 9th, 2010 at 3:40pm. 69 Views, 0 Comments.
Saving money and going green are both hot topics right now. So, I'm sure you've already heard the tips to turn off water while brushing your teeth, turn off TVs and computers and swap out old light bulbs for the new energy-saving versions.
Here are 10 new ideas to help you save money and make your Santa Cruz home greener.
1. Swap stuff. There are hundreds of online sites where you can get furniture, books, CDs, DVDs and even a place to stay for free by swapping stuff with other people. And, I'm not just talking about Craigslist. Two of the most popular and easy to use swap sites are Paperbackswap.com and SwapaDVD.com.
2. Recycle your cell phone. According to the EPA, if the 100 million cell phones no longer being used by Americans were recycled,…
Does Your ARM Increase Mean Santa Cruz Foreclosure?
Sunday, December 20th, 2009 at 8:20am. 70 Views, 0 Comments.
With the current Santa Cruz foreclosure woes, and the strains of the economy these days, many people are worried about what they’ll do when their ARM (adjustable rate mortgage) resets. Here are a few suggestions to help you weather the current financial storm:
What is an ARM?
ARM refers to a mortgage loan that has a variable interest rate. The amount of the monthly payments will change several times over the life of the loan. ARMs usually have a lower introductory interest rate than a fixed-rate mortgage. After a period of time, the interest rate is recalculated, resulting in a higher interest rate and monthly payment.
Get Out Your Loan Paperwork
Many homeowners are worried about what will happen to their monthly payments when the ARM resets. Foreclosure…
National Foreclosure Trends and Santa Cruz Real Estate
Monday, December 14th, 2009 at 2:12pm. 81 Views, 0 Comments.
Everybody wants to know how the housing market is doing, especially if they own Santa Cruz real estate. I try to keep the newsy pieces to a minimum and spend most of my Internet space on helpful pointers, but a lot of readers have asked about the market. In response to high demand, here’s a peak at the current national foreclosure trends:
Foreclosure Trends
It’s a wonderful thing to own any kind of real estate (although I’m partial to Santa Cruz real estate, of course). Unfortunately, many people have lost their homes due to foreclosure since the housing crisis started; there have been over 7.8 million since 2007. California, Florida, Arizona, Nevada, Illinois and Michigan have been topping the count for foreclosures, adding up to 62% of the nation’s…
6 Tips to Protect Foreclosures in Santa Cruz from Loan Modification Scams
Thursday, November 12th, 2009 at 5:13pm. 64 Views, 0 Comments.
Many facing the possibility of being added to the number of foreclosures in Santa Cruz are frightened, often frustrated and feel helpless. It’s understandable; nobody wants to lose their home. However, those feelings often lead to being victimized by loan modification con artists who promise freedom from foreclosure for a little bit of money and leave victims in their wake.
Here are a few tips to protect yourself from scams that could take you one step closer to becoming one of the foreclosures in Santa Cruz:
1. Never believe a guarantee. No one, company or individual, can guarantee loan modification or that your lender won’t foreclose. If the loan modification company starts spouting guarantees, walk away.
2. Never sign over power of attorney. Sometimes,…
Foreclosures in Santa Cruz, Title Searches and Title Insurance
Monday, November 9th, 2009 at 9:13am. 79 Views, 0 Comments.
When you’re looking to buy a home, and especially when you’re looking at foreclosures in Santa Cruz or anywhere else, title searches are important.
Many buyers make the mistake of settling for a quitclaim deed without doing a title search. Unfortunately, the person who signs the quitclaim deed may not be the actual person holding the title. If there are any liens on the title, the new owner may get an unpleasant surprise at closing. With foreclosures in Santa Cruz, the possibility that there is a lien on the title is even greater.
What is a title search?
Title searches are performed by title companies or lawyers. These companies and attorneys search the public records for information on the property’s ownership. The goal is to find out if there are any…
Santa Cruz Foreclosures vs. Short Sales: The Consequential Facts
Saturday, October 17th, 2009 at 5:10pm. 76 Views, 0 Comments.
Santa Cruz foreclosures are a sad fact of life. The truth of the matter is that, for many, even loan modification isn’t an option. When faced with foreclosure or short sale, how do you decide which is best? While short sales have been pushed by many as a viable option, it’s hard to know what’s best for you.
Here are some facts about the consequences of both:
Your Credit
While both Santa Cruz foreclosures and short sales will affect your credit score, the differences are wide. A foreclosure can affect your score for as long as three years or more, and lower it as much as 300 points. The foreclosure can remain on your public history for over ten years.
However, only late payments show on your credit with a short sale. Your score can drop as little as 50…
Checklist for Moving When Facing Santa Cruz Foreclosures
Monday, September 28th, 2009 at 9:21am. 133 Views, 0 Comments.
If you’re one of the many people dealing with Santa Cruz foreclosures, you will probably be moving to a smaller, more affordable place. When it’s time to move you don’t want to leave the important things behind, but you may not have room for everything, either. Here’s a checklist to help you get the important stuff taken care of within the last month:
1. Change of address – With the rate Santa Cruz foreclosures happen, you want to make sure your change of address is one of the first things you do.
2. Find a moving and packing company.
3. Clean out your safe deposit box and transfer it to the new area.
4. Get your family’s medical records, school records and other important papers.
5. Change your insurance policies for your home.
6. Get a fire resistant safe…
