#foreclosures

#foreclosures

Currently, 40% of homeowners don't have a mortgage loan at all and of those who do, 70.4% have fixed rate loans of 5% or less. This is why many homeowners in America have excellent FICO scores; their long-term debt costs remain fixed as their wages rise. One of the hallmarks of the housing bubble crash period was the significant number of foreclosures happening in America. With so many distressed homeowners and underwater mortgages, it was the biggest bust in American economic history.

President Donald Trump signed the VA Home Loan Program Reform Act in late July, adding a partial claim option to the VA's loss-mitigation waterfall. The move brings the VA's approach closer to that of the Federal Housing Administration (FHA) and the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac. It replaces both a partial claim program that sunset two years ago and the Biden administration's Veterans Affairs Servicing Purchase (VASP)

MILPITAS - The 229-room Sheraton San Jose Hotel was bought for $20.1 million, according to documents filed on Aug. 22 at the Santa Clara County Recorder's Office, well below the property's assessed value. The purchase price for the hotel at 1801 Barber Lane, near the interchange of Interstate 880 and Montague Expressway, was 47% below its assessed value of $38.1 million as of January, according to county real estate documents.