| LA TIMES REAL ESTATE NEWS |
The White House hopes to help millions of homeowners lower their monthly mortgage bill with a $5 billion to $10 billion plan to set up a streamlined refinancing program for people who are current on their payments.
The Standard & Poor's/Case-Shiller index of 20 large U.S. cities fell 1.3% in November from October as foreclosures continue to drag down the housing market.
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.
A.F. Leicht designed quirky Spanish Revival houses in Los Angeles as well as evangelist Aimee Semple McPherson's landmark Angelus Temple. His interiors often had irregular-shaped or curved walls, rooms or hallways. This Los Feliz villa, with rounded rooms, fancifully shaped living room French doors and elliptical master bathroom, captures his signature style.
They don't believe they can sell their property for what it's worth, so they're spending money on making their homes more comfortable.
Do you fit any of these descriptions?
The talk show host pays $12 million for the 4,088-square-foot house with four bedrooms and four bathrooms. The ocean-view home sits on 1.26 bluff-top acres with beach access.
In one of the more talked-about transactions in town, actors Brad Pitt and Angelina Jolie have sold their Malibu beach house to daytime host and comedian Ellen De Generes for $12 million.
Karen Mena managed to get a foreclosure on her San Bernardino home rescinded. But she continues to negotiate with Bank of America over loan terms and could still lose the house.
Foreclosure commonly represents the end of a struggle. A borrower can't pay a mortgage, loses a home and moves on.
L.A. Clipper Chris Paul may be quick down the court, but he moves pretty fast when it comes to buying multimillion-dollar real estate too.
The president aims to help about 3.5 million people with good credit who are unable to refinance at historically low rates because their homes are worth less than their mortgages.
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| Jenn Davis |
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