#foreclosures

#foreclosures

President Donald Trump signed the VA Home Loan Program Reform Act in late July, adding a partial claim option to the VA's loss-mitigation waterfall. The move brings the VA's approach closer to that of the Federal Housing Administration (FHA) and the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac. It replaces both a partial claim program that sunset two years ago and the Biden administration's Veterans Affairs Servicing Purchase (VASP)

MILPITAS - The 229-room Sheraton San Jose Hotel was bought for $20.1 million, according to documents filed on Aug. 22 at the Santa Clara County Recorder's Office, well below the property's assessed value. The purchase price for the hotel at 1801 Barber Lane, near the interchange of Interstate 880 and Montague Expressway, was 47% below its assessed value of $38.1 million as of January, according to county real estate documents.

Flooding events are the primary driver of post-disaster foreclosures, especially outside FEMA's SFHAs where flood insurance isn't mandatory.