San Ramon, Dublin & Pleasanton, CA

Foreclosures on the Rise 

We've been reading more and more about the rise in foreclosures, short sale situations and the trouble more home owners are facing with ARM mortgages coming due. Many Adjustable Rate Motgages that many took out to purchase a home 3 to five yearsago are getting ready to "kick up" the monthly payment of many home owners.

The California Association of Realtors® reoprts:

"The number of foreclosure filings across the nation exceeded 100,000 for the sixth consecutive month in January, with foreclosure activity increasing in all but 17 states, according to RealtyTrac's "January 2007 U.S. Foreclosure Market Report." Texas and California led the country with the most foreclosure filings last month, with 14,728 and 14,430 foreclosures, respectively. In California, foreclosures were up 14.3 percent compared with the previous month and up 54.3 percent from January 2006."

In the last 24 hours, we have held discussions with two of the top mortgage institutions serving the San Ramon and TriValley areas. The loan officers we talked to reported an increase in refi's. They have solutions for home owners facing problems with their re-ARMing.

If you are in such a situation, don't delay - start the refinance process before things reach a critical point. Many people are not aware of all of the options available and wait too long to deal with a difficult situation that then becomes more difficlut.

Contact us for recommendations - no obligation on your part.