We have been talking about the first 90 day hold on the release of Foreclosures due to the TARP money approval by Congress late Feb and Early March of this year, 2009.  We then had the additional 90 day hold by the Gov. of California to give the banks another requirement to show due diligence that they were indeed doing everything they could to help the distressed homeowner save their homes.

On the horizon, we now have a pending release of Foreclosure and Bank Owned inventory – There are also some serious concerns about the increase of NOD (notice of default) filings.

They are increasing.  We do a lot of reading and it has been stated with the OC register by Mathew Padilla, that we have, “More Evidence of gathering foreclosure wave.”

It is time to batten down the hatches and just ride this mess out.  Hang in there and if you are one of those Distressed Homeowners – keep the faith and make sure you are dealing with qualified resources when you are thinking about Short Selling or any other financial option. 

It also makes sense to do your homework, with other resources besides our Real Estate Team.  Check with your accountant, Check with a Credit Advisor we Recommend John Franco, and Check with your Tax Person about any “unseen” implications with your Real Estate Plans.

ImageChef