Comparing Mortgage Lenders in Orange County

For the last 15 years, we have been helping consumers shop brokers and lenders in Orange County, California. Orange County has become famous for hosting the businesses of thousands of mortgage companies. Needless to say, it's a competitive environment so if you are looking for a private money or mortgage lender for bad credit located in Orange County, let us help you now.


Orange County Foreclosure Rate Rise and Fall
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Orange County foreclosure rate rises as Southern California homeowners continue to search for jumbo mortgage refinance solutions for their rising adjustable rate problems.
BD Nationwide helps consumers shop and compare affordable mortgage programs created for California borrowers. People with bad credit can choose from fixed rate home loans for with VA, FHA, hard money and subprime refinancing and purchase products.

Orange County Foreclosures on the Rise
By Kathy Neilsen

Only two years ago Orange County California was experiencing record high prices and double digit equity gains yearly. Lending guidelines were loose and easy and almost anyone could buy a home. Because of these easy qualifying 100% mortgage loans many people today are feeling the real estate crunch.

Homeowners with mortgage payments that have doubled due to adjustable rate mortgages or option adjustable rate mortgages or have relied on the equity of their home to pay for a lifestyle far above their means, are today facing loan defaults and in some cases foreclosure. With decreasing home equity and tighter lending guidelines these homeowners no longer have the luxury of equity or the option of refinancing to fall back on.

While older, affluent and stable neighborhoods are seeing little foreclosure activity, area's of Orange County with significant foreclosure rates are cities with a high number of new homes as well as condominiums offered in the last several years,. These homes and condos were attractive to first time home buyers and although affordable in relation to Orange County's median home price, were still well above the national average. Many new home and condo buyers relied heavily on subprime lenders offering 100% financing with non-qualifying requirements to purchase their homes and are now feeling the repercussions of a declining real estate market.

Today, countless subprime mortgage companies have shut their doors and are going out of business, while many other California mortgage lenders are going bankrupt as the California real estate market continues to flounder. Lenders and mortgage brokers are disappearing daily as the fat and sloppy lending years in the early 00's have passed.

California's rising foreclosure rates coupled with today's tighter lending guidelines are sending a clear message to potential home buyers and homeowners considering refinancing; home buying is a serious financial commitment and should be approached as such. - More Orange County Foreclosure facts can be found at the OC Register Online.

Cash Call announced they were seeking to reduce their staff. At the moment, they are searching for another business to sublet up to 40% of their office located in Orange County, California. Read the original Bloomberg article.

 

 
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California Mortgage Rates | California Home Equity Rates | California Second Mortgage | California Debt Consolidation | Los Angeles Home Mortgage Rates Drop | Orange County Mortgage Rate Updates | Santa Cruz Home Loans| San Bernardino Home Loans| Santa Clara Home Loans| Ventura Home Loans| Carlsbad Home Equity Rates | La Jolla Home Equity Rates | Mission Viejo Home Equity Loans | San Clemente Home Equity Rates | Laguna Niguel Mortgage Rates | FHA Home Loans Replace Subprime Mortgages | Foreclosures Rise with Adjustable Rates | Orange County Borrowers Seek Fixed Rates | California Homeowners seek Jumbo Refinancing | FHA Home Refinance Loans in California | Delinquencies Could Cause Higher Home Loan Rates | 2015 FHA Loan Limits in California
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