In hopes of trying to balance my output with my input, I’m going to start summarizing what’s in some of my open tabs in my browser and sharing them with you. That way we can all be smarter 
/via Sacramento Business Journal: Foreclosed homeowners could owe ‘tens thousands of dollars’ to lenders.
You may not know it, but if you’ve refinanced from your original purchase loan and lose your home to foreclosure, you may be on the hook for the difference between the amount owed & the property’s value.
For example, if a homeowner has $200,000 outsanding for a refinanced mortgage and the lender forecloses on the house with the property valued at $150,000, the former homeowner could be liable for the remaining $50,000.
Senate Bill 1178 is trying to close that loophole.
/via REALTOR.org: Existing-Home Sales Continue to Improve in April
Lawrence Yun, NAR chief economist, said the gain was widely anticipated. “The upswing in April existing-home sales was expected because of the tax credit inducement, and no doubt there will be some temporary fallback in the months immediately after it expires, but other factors also are supporting the market,” he said. “For people who were on the sidelines, there’s been a return of buyer confidence with stabilizing home prices, an improving economy and mortgage interest rates that remain historically low.”
/via SF Gate: Loan modifications often damage credit scores
Lots of good info in this article from Carolyn Said, but if you’re looking into a possible loan modification, there’s a list of tips in the article that you should be aware of…
- If you’re requesting a loan modification, here are some steps you can take to try to protect your credit:
- Try to stay current on payments while requesting a trial modification.
- Try to get a loan mod under the federal Home Affordable Modification Plan (HAMP), which has less impact on credit.
- Request that the lender not report your trial loan payments as partial payments.
- Make your trial payments on time.
- Homeowners who believe that servicers are not treating them fairly or complying with program guidelines can contact the HOPE Hotline at (888) 995-4673.
