The latest information released by our various data sources shows us some scary numbers here in California. There are approximately 84,000 homes currently in some form of the foreclosure process right now. As a result, lenders have decided to place another moratorium on current foreclosure filings in order to slow down the enormous wave of foreclosures about to hit the REO market.

Sadly, these foreclosures then become the most recent sales comparables in various neighborhoods around the state. As a result, many of the latest home "sales" may be homes which went all the way to Trustee's Sale (final auction). These foreclosure sales may also be discounted significantly below even the balance due (loan amount, interest arrearage, legal, and trustee fees).

We are continuing to help our clients with various loan modification options as many of their home values are now "upside down" (loan debt exceeds the current value). Recent deals included the following for some of our affiliate clients:

* 1st loan interest rates modified to the high 4% range.
* 2nd loan interest rates modified to ZERO with no payments for up to 5 years.

If you need help selling, refinancing, or modifying your loan payments, please give us a call as our experienced team may assist you through the on-going and worsening Credit Crisis.