Lex Spaeth's (lexspaeth) Blog

REO Buyer Can Select Escrow and Title: Effective October 11, 2009, the Buyer's Choice Act prohibits an REO lender selling residential property up to four units from directly or indirectly requiring the buyer to purchase escrow services or title insurance from any particular company.  A buyer, how...

A shattered California home building industry received a boost Wednesday when the state Senate voted to extend a popular $10,000 tax credit that fueled thousands of new-home sales last spring and summer. The Senate voted 35-1 to reauthorize the use of $30 million in credits not awarded during the...

People who watch housing prices have predicted for months that another deluge of foreclosed homes would soon hit the market – once again crushing Sacramento-area property values. But the flood of bank repos hasn't materialized. And now, a leading California foreclosure analyst says it probably wo...

Finally, I wondered how long it would take? Loan modification firms that promise to help struggling borrowers get their mortgages rewritten have been banned immediately from asking for cash upfront. Attorneys, too, who specialize in loan modifications are no longer allowed to ask consumers for pa...

A short sale is a process in which the mortgage holder agrees to accept less than the balance owed on the mortgage at sale to prevent foreclosure. The lender would much rather see you sell the property than be forced to take the property through foreclosure, as foreclosure is a costly and time-co...