Los Angeles CA – I receive calls all the time that go a little something like this: “I have fought the bank for year and half, and after paying thousands and thousands I…Continue
Added by Jennifer Escobar on May 31, 2011 at 7:30pm — No Comments
It is so sad when the clients come to you, looking for help and when you postponed the sale for long time, advertised their property, negotiated with the bank to accept a short sale on it and finally find a buyer! they tell you "Don't sale my property" I am not making any money in the sale, I already damaged my credit why I gonna sell it? just let the sheriff sell the property and give back to the bank. I will live for free; for a few more months and collect the rent until that.
I recieved the follow email from a local Mortgage Broker. Can anyone comment on its' validity? It differs from my understanding;
I get this question all the time and I finally got smart and decided to post it here for everyone.
These guidelines have changed quite a bit over the past three years (becoming more strict) and are accurate as of the date of today’s post ; 2/3/2011
2011 FHA Waiting Guidelines
Bankruptcy ; You may apply for a FHA insured loan after…
Bank of America has made great strides recently in processing short sales. For many agents they have gone from being the least favorite to the most favorite bank to work with. They have managed to do this in part by switching to an online documentation system for short sales, called Equator, but I also think it is a corporate decision to work out an orderly way to deal with defaulting homeowners.
B of Ahas recently instituted a new program called the Co-operative Short sale Program.…Continue
Added by Stacie A. Kramer on May 26, 2011 at 9:59pm — No Comments
Added by Kenneth Bargers on May 26, 2011 at 3:56pm — No Comments
Short sales are quickly dominating Riverside county, you may have heard that short sales are among the fastest growing property transactions in today’s market. According to the U.S. Treasury Department, short sale transactions more than doubled in 2010 and short sales are expected to increase further.
Short sales offer a great opportunity to buyers, specially first time buyers they can get in a home they otherwise may not be able to afford ,don’t let no body scare you, you just…
Added by Cecilia Rodriguez on May 26, 2011 at 4:35am — No Comments
I have a Realtor friend that works out of Pasadena California that recently was fired by her seller because of this letter. Chase told the seller that they would receive $30,000 at the close of escrow if they fired their current agent and picked an agent from the CDPE…Continue
How is a Palo Alto Short Sale Different From a Regular Sale
A short sale is not the same as a regular sale and the differences are very significant. It is not a simple process and if you are buying or selling a short sale you should be working with an agent who knows what her or she is doing.
In a short sale the seller owes more on the home than it is worth. The seller needs to ask the lien holders if they will accept less than the amount owed to them. There…Continue
Break Free From Unaffordable Mortgage Payments!
A recent study found that only 5% of distressed homeowners knew they had alternatives to foreclosure, and only 3% took advantage of them. It was also found that 1 in 4 homeowners chose to “strategically default,” or allow their homes to be foreclosed upon on purpose!
Clearly, too few distressed homeowners know their options and the fallout of foreclosure. If they did, they’d soon realize that there’s…Continue
Added by Jeff Clawson on May 24, 2011 at 7:54am — No Comments
Added by Cecilia Rodriguez on May 24, 2011 at 2:34am — No Comments
Added by Kenneth Bargers on May 23, 2011 at 9:09am — No Comments
Have you ever gotten a Save the Date invitation for an upcoming event? They are great because they help you plan for the future, and bring excitement for the future into the mix. I got a lovely e-mail today from my negotiator on a Santa Clara Short Sale listing. He said that he was just waiting for management to approve his approval and he should have something in writing to me in a few days. This was very nice for a number of reasons:
1. Everyone involved is looking forward to…Continue
Added by Marcy Moyer on May 20, 2011 at 7:30pm — No Comments
Existing-home sales slipped in April, although the market has managed six gains in the past nine months,
according to the National Association of REALTORS®.
Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums, and co-ops, eased 0.8 percent to a seasonally adjusted annual rate of 5.05 million in April from a downwardly revised 5.09 million in March, and are 12.9 percent below a 5.80 million pace in April 2010; sales surged in…Continue
Added by Kenneth Bargers on May 20, 2011 at 3:43pm — No Comments
This a step in the right direction! A good push towards accountability on the part of the servicer.
The U.S. Treasury released updated guidance for the Home Affordable Modification Program (HAMP) this week requiring certain servicers to provide borrowers with a single point-of-contact through the entire default resolution process.
Please email me at firstname.lastname@example.org if you're interested in a short sale listing for a property with a value of $65k. Thanks.
MARKET COMMENT Mortgage bond prices rose last week pushing mortgage interest rates slightly lower. We started the week positive when it was announced Greek’s debt rating was downgraded. Retails sales were slightly lower than expected. Inflation readings on the producer side were slightly higher than expected as prices rose 0.8% and the core rose 0.3%. Consumer prices rose 0.4% and the core rate, which excludes the volatile food and energy costs, rose 0.2%. The core value was higher…Continue
Added by Kenneth Bargers on May 16, 2011 at 9:49am — No Comments
Added by Marcy Moyer on May 16, 2011 at 1:05am — No Comments
Reducing the principal on troubled mortgages may be a part of a settlement offer proposed by state attorneys general to mortgage servicers, but the industry's largest investors – Fannie Mae and Freddie Mac — say principal reductions are not a part of their plans.
Freddie Mac CEO Charles 'Ed' Haldeman told a…Continue
Added by Chris B Johnson CDPE,SFR,HAFA on May 13, 2011 at 5:58pm — No Comments