Modesto Real Estate

Foreclosure commonly represents the end of a struggle. A borrower can't pay a mortgage, loses a home and moves on.

QUESTION: I have been relocated, and my property is underwater. My credit is not important to me, so I am thinking about just walking away from my house as opposed to taking the trouble of doing a short sale. Is there any reason I should not just walk away?

Three straight months of home-price declines in the biggest U.S. cities showed that foreclosures remain a significant drag on a housing market that is entering its fifth year of deterioration.

Home prices in the nation's biggest cities fell for the third consecutive month in November, a sign the housing market ended 2011 in a weakened state.

A New York hedge fund manager's plan to demolish an eye-catching steel-and-glass home in Malibu and build a two-story California Mission-style residence has neighbors in a lather over the potential loss of ocean views and what some decry as the waste of a perfectly good house.

Struggling homeowners are set to get more help from the federal government as the Obama administration extends its key foreclosure prevention plan for a year.

Buying a condominium is getting trickier for anyone who wants to put down only 3.5 percent and have the government insure their mortgage.

The housing industry has been appealing for a coherent policy that will end the market's five-year-old downturn and get real estate moving.

QUESTION: I took out a reverse mortgage when the market was high and cashed out $300,000. Now my home is worth about $100,000. We are thinking of walking away from the house. Can the bank come after us for the money?

Last summer, Marie Davis was living in an 800-square-foot, one-bedroom apartment and not liking it. A single woman of 27, she wanted bigger and better.

David H. Stevens, president of the Mortgage Bankers Association, recently paraphrased Thomas Jefferson in assessing the housing market: It's "swimming with the current rather than standing like a rock," and what is needed now is "rock-like certainty."

Federal authorities are investigating possible fraud at General Electric Co.'s former subprime mortgage arm amid increased public pressure to hold Wall Street accountable for its role in the financial crisis.

FORT LAUDERDALE, Fla. - Chinese drywall is causing new problems for one family in Doral, Fla., whose lawsuit claims a home seller failed to disclose the presence of the toxic wallboard in sales documents.

FORT LAUDERDALE, Fla. - Some homeowners have had to beef up the amount of property insurance they buy to cover what they say are inflated cost estimates to rebuild their homes.

Q: I saw your article about mandatory mediation in foreclosure cases. I'm in the middle of my case but due to my low income, there is no way that the bank will give me a loan modification. Is there any way to ask the foreclosure judge to force the bank to give me a modification?

Is your refrigerator running? If you don't know, just ask it.

As the housing market enters a new year of watching and waiting for stability to return, there is also some action afoot: Efforts are expected to take shape to tackle the vast swath of empty homes and fill them with residents - and in many cases, renters.

QUESTION: I am getting ready to close on my new home. The settlement company is insisting that I wire the funds prior to the closing. The contract allows for a cashier's check, but the company will not accept that. What's the big deal?

You've decided to dip your toe into the sea of properties available in the real estate market. Now, the question is: single-family home or condo?

The beginning of a new year is when many Americans take stock of their lives. And with this being a housing column, I offer 10 New Year's resolutions for homeowners, in no particular order: