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  • Making Home Affordable Program Has Been Extended

    Posted on July 20th, 2013 acimetta No comments

    The Obama administration has extended the Making Home Affordable Program until December 2015 in an effort to still help homeowners who are in danger of losing their homes to foreclosure. This also includes the Home Affordable Modification Program (HAMP) and Home Affordable Foreclosures Alternative program (HAFA). The former handles loan mods and the latter is for short sales.

    South Bay

    In the South Bay, we have seen far less REOs and short sales this year. However, there are still a number of homes in pre-foreclosure. Here are some current stats as of July 20, 2013:

    Redondo Beach: 34 homes in pre-foreclosure, 30 homes are bank owned

    Manhattan Beach: 7 homes in pre-foreclosure, 7 homes are bank owned

    Hermosa Beach: 14 homes in pre-foreclosure, 8 homes are bank owned

    Torrance: 24 homes in pre-foreclosure, 30 homes are bank owned