If you’re thinking of the new “foreclosure review” process, check out this article:

One critical but unexposed part of this crisis is that many well-heeled interests DO NOT WANT it fixed. That’s because of the tax implications on trillions of dollars of mortgages. Almost every mortgage since 2004 was transferred into a Real Estate Mortgage Investment Conduit (REMIC) trust to avoid taxation. While a clever idea, the vast [...]

It can’t be too long before this moratorium includes other lenders involved in the mess, as well as other title insurers. It’s one thing to buy a foreclosed house at a discount, but who will buy a home in foreclosure without title insurance?

I have been counselling folks for some time now to learn what alternatives are available when foreclosure threatens…attached is an interview I gave to Auburn Sentinel in July ’09. Although the foreclosure environment continues to evolve, it’s still good advice. Foreclosure Options

suspending the privilege granted to lenders under Calfornia Civil Code section 2924 to conduct non-judicial foreclosures,

Foreclosure/short sale can leave you vulnerable to deficiency judgments and tax liability