The Seminar for Upside Down Homeowners Sat March 10 at 10am @ The Del Mar Hilton
February 4, 2012 by admin · Leave a Comment
Matt Battiata & The Battiata Real Estate Group will hold The Seminar for Upside Down Homeowners Saturday March 10 at 10am at The Del Mar Hilton in Del Mar, CA. This will be the 9th seminar for upside down homeowners that the Battiata Real Estate Group has held in the past year. “There is still [...]
Making Home Affordable Options
February 4, 2012 by admin · Leave a Comment
The Obama administration’s Making Home Affordable (MHA) program includes a myriad of different programs for upside down homeowners. Here is a summary of the different programs available, all of which we cover in our Seminar for Upside Down Homeowners (next seminar Saturday March 10, 2012 at 10 am @ Del Mar Hilton): Home Affordable Modification [...]
Shadow Inventory Update: 7.5+ million Homes
December 6, 2011 by admin · Leave a Comment
Shadow inventory in the United States is currently estimated at over 7,500,000 homes and growing. Consider the following: Banks currently own over 800,000 REO’s (foreclosures) that they have not yet put on the market, and are simply sitting on. They cannot yet afford to take the losses on these homes, so they are letting them [...]
Chase Bank pays out $30K Short Sale Incentive
December 6, 2011 by admin · Leave a Comment
Recently, you may have read about major banks paying out thousands or even tens of thousands of dollars to incentivize upside down homeowners to do short sales. News reports over the past few months have detailed stories about JP Morgan Chase, Bank of America, Wells Fargo and other lenders paying out huge cash payments to [...]
The Impact of a Short Sale on your Credit Report
December 6, 2011 by admin · Leave a Comment
There are 2 ways that a short sale impacts your credit. The first is the actual short sale, which is reported on your credit as “debt settled for less than the amount owed.” This should not impact your credit until the short sale closes escrow. The second is the missed payments, assuming that you stop [...]
Battiata Real Estate to hold series of 5 Short Sale Seminars Nov 15-19
November 9, 2011 by admin · Leave a Comment
November 7, 2011 – With almost 50% of San Diego homes under water, and an increasing willingness on the part of lenders to work with upside down homeowners to avoid foreclosure, more and more San Diego homeowners are seeking to educate themselves on their options in dealing with an upside down home. Matt Battiata and [...]
Bank of America Short Sale Policy Change re Foreclosure Postponements
October 6, 2011 by admin · Leave a Comment
Bank of America’s Loss Mitigation Department told us today that, as a matter of policy, they will no longer postpone foreclosure sale dates on properties that are 18 months or more in arrears. Bank of America said they will consider postponements if there is an offer in review, but only on a case by case [...]
Mortgage Tax Debt Forgiveness Relief Act to Expire in 2012
October 4, 2011 by admin · Leave a Comment
The clock is ticking for San Diego homeowners who want to short sale their home and avoid getting hit with a huge tax bill from the IRS and California Franchise Tax Board. The Mortgage Tax Debt Forgiveness Relief Act, and its California state income tax counterpart, SB401, which exclude most homeowners from owing taxes on the [...]
San Diego Foreclosure filings, inventories & outcomes 2011 on Battiata.com
September 30, 2011 by admin · Leave a Comment
06073 – Foreclosure Filings 06073 – Foreclosure Outcomes 06073 – Foreclosure Inventories “>
Battiata Real Estate Group “Seminar for Upside Down Homeowners” Saturday Oct 1 at 12 noon at The Del Mar Hilton
September 30, 2011 by admin · Leave a Comment
The Battiata Real Estate Group “Seminar for Upside Down Homeowners” will be held Saturday October 1 at 12 noon at the Del Mar Hilton. The format for the seminar will be an educational forum for homeowners who are upside down on their homes to learn about their options. Topics will include short sales, loan modification, [...]
July 2011 North San Diego County Real Estate Market Analysis
September 29, 2011 by admin · Leave a Comment
This is an interesting July 2011 market report for North San Diego County put together by HomeDex for the North San Diego Association of Realtors. It shows median prices for single family detached and attached homes, our affordability index as well as many other indicators, and whether they are trending up or down. The median [...]
Battiata Real Estate Seminar for Upside Down Homeowners Oct 1 at Del Mar Hilton
September 22, 2011 by admin · Leave a Comment
SAN DIEGO, CA — With almost 50% of San Diego homes under water, and an increasing willingness on the part of lenders to work with upside down homeowners to avoid foreclosure, more and more San Diego homeowners are seeking to educate themselves on their options in dealing with an upside down home. Matt Battiata and [...]
RSVP List for 2011 Seminar for Upside Down Homeowners Building Quickly
July 26, 2011 by admin · Leave a Comment
The RSVP list for the upcoming Seminar for Upside Down Homeowners, which will be help Saturday, July 30 at 12 noon at the Del Mar Hilton, is building quickly. The seminar, which is free to and open to the public (although you must pre register through www.Battiata.com), will present upside down homeowners with all of [...]
CA SB 458 Prohibits 2nd Lienholders from Pursuing Deficiencies after Short Sales
July 15, 2011 by admin · Leave a Comment
Gov. Jerry Brown signed the much heralded SB 458 into law today, July 15, 2011. SB 458 extends the protections of SB 931 (passed in 2010), and ensures that any lenders that agree to a short sale must accept the agreed upon short sale proceeds as payment in full for the outstanding balance of all [...]
Upcoming: Seminar for Upside Down Homeowners July 30 2011
June 17, 2011 by admin · Leave a Comment
Matt Battiata & The Battiata Real Estate Group will host The Seminar for Upside Down Homeowners, Saturday July 30, 2011 at the Del Mar Hilton in Del Mar, CA. The purpose of the seminar will be to educate upside down homeowners on their options, including Short Sales, Loan Modification, Foreclosure, Chapter 7 & 13 Bankruptcy, [...]
Short Sale Update: Beware of Lenders Trying to Change Non-Recourse Loans into Recourse Loans in Short Sale Approval Verbiage
April 27, 2011 by admin · Leave a Comment
Short Sale Sellers Beware: We have seen some investors recently attempting to change the terms of a loan within the short sale approval letter, specifically changing a non-recourse loan into a recourse loan. The drill goes like this: the bank approves the short sale on a non recourse loan and then sends out an approval [...]
New HAFA Guidelines Effective Feb. 1, 2011
January 31, 2011 by admin · Leave a Comment
The Obama Administration’s HAFA short sale program has been in effect since April 5, 2010 and was created in an attempt to encourage lenders to do short sales and prevent homes from going to foreclosure. Since its inception, however, only 661 HAFA short sales have been completed nationwide – a fraction of the number the [...]
View from the Trenches: 2011 San Diego Real Estate Market Forecast
January 20, 2011 by admin · Leave a Comment
Every year around this time, I get a host of questions from clients, reporters, economists, neighbors etc. about the direction the San Diego Real Estate Market will take over the next 12 months. National publications publish articles with predictions about the national real estate market, but as Gary Keller once said, talking about the national [...]
30% of San Diego mortgage holders underwater in 3Q
January 3, 2011 by admin · Leave a Comment
*Note* The following is an excellent article by Andrew Keatts of the San Diego Daily Transcript on the San Diego real estate market. I believe the # of San Diego mortgage holders upside down is actually higher than this – likely as high as 50% – as the CoreLogic report is based on San [...]
Chase Bank Short Sale Update: Less than 29 Day Approval time with Full & Final Satisfaction of Debt
December 10, 2010 by admin · Leave a Comment
Battiata Real Estate Group Update: We just negotiated an approval with a full and final satisfaction of the debt on a Chase loan in less than 29 days. Chase Bank Loss Mitigation has typically been one of the slower lenders to deal with, however recently, thanks to a streamlined approach to the submission and negotiation [...]
Short Sale? Make sure it includes a “Full & Final Satisfaction” of the Debt
November 22, 2010 by admin · Leave a Comment
At The Battiata Real Estate Group, after starting short sales in earnest in 2005 (and now 5 years & several hundred short sales later), our average time period to get short sales approved has dropped dramatically, and more importantly, our success rate at getting “full & final satisfactions” from lenders, where the seller walks away free [...]
SB 931 Signed into Law – Prohibits Deficiency Judgements on all 1st liens in CA
October 11, 2010 by admin · Leave a Comment
Governor Arnold Schwarzenegger signed SB 931 into law this past week, prohibiting lenders from pursuing deficiency judgements after short sales on all 1st liens in California, including “recourse” loans where the borrower has refinanced. In California, once a seller has refinanced their mortgage, whether it is a cash out refinance or simply a refinance to [...]
Bank of America Halts All Foreclosures in US – Other Lenders likely to Follow Suit
October 8, 2010 by admin · Leave a Comment
Bank of America announced today that it will voluntarily stop all foreclosure sales until it has completed an internal review of its foreclosure process. The review is in response to recent allegations that the mortgage giant has violated Federal and State laws by foreclosing on homeowners without proper documentation. Bank of America initially announced it [...]
CA SB 931 Passes Senate – Bans Deficiencies on 1st Liens after Short Sales
August 25, 2010 by admin · Leave a Comment
The California Senate has passed SB 931 unopposed. SB 931 prohibits banks from pursuing deficiency judgements against sellers on 1st liens in California, regardless of whether the seller has refinanced or pulled cash out. In California, once a seller has refinanced their mortgage, whether it is a cash out refinance or simply a refinance to [...]
Luxury Property Short Sales & Strategic Defaults
August 24, 2010 by admin · Leave a Comment
The upper end, luxury real estate market in San Diego, Palm Desert & Orange County has finally taken a significant hit in property values. Prices in the upper end (here defined as properties that were worth at least $1,750,000 or more at the peak of the market), have dropped by as much as 50%, and [...]
