Added by Paddy Deighan, JD PhD on June 30, 2011 at 9:26pm — No Comments
In 2008/2009 I listed a Bank of America Short Sale in Mountain View. It took 11 months to close it, with the first buyer walking and the second one sticking it out. 11 months, and I was thrilled to have gotten approval from Bank of America for a short sale. At that time they had a terrible reputation for short sale approvals, and now they are most agents favorite company.
Boy have things changed! It has now taken me 3 months, from seller signature on a contract to approval of both…Continue
Added by Marcy Moyer on June 29, 2011 at 8:29pm — No Comments
Added by Kenneth Bargers on June 29, 2011 at 5:30pm — No Comments
Added by Chris B Johnson CDPE,SFR,HAFA on June 29, 2011 at 4:52pm — No Comments
Added by Kenneth Bargers on June 27, 2011 at 9:20am — No Comments
Short Sale Myths Busted
So as you know I get brought into a lot of different real estate offices in Chicago to train agents on Short Sales, the Short Sale Process, and how to legally and properly handle…Continue
A federal bankruptcy judge has ruled that a lender must prove that it has the original note in order to receive relief from the automatic stay in bankruptcy and proceed against the real estate. This has potentially HUGE repercussions in all forclosures and certainly all foreclosures in bankruptcy.
The "produce the note" affirmative defense in one in which a home owner in foreclosure alleges as a defense to the foreclosure lawsuit that the lender does not have the legal right to sue…Continue
Added by Kenneth Bargers on June 22, 2011 at 3:06pm — No Comments
A lack of demand may keep house prices from a consistent rise until 2014, according to analysts at Capital Economics.
Home prices double-dipped in the first quarter, according to the Standard &…Continue
Added by Chris B Johnson CDPE,SFR,HAFA on June 21, 2011 at 3:44pm — No Comments
Added by Connie Martin on June 21, 2011 at 3:10pm — No Comments
Los Angeles CA – I recently received an e-mail from another real estate agent. They were asking for our advice on a short sale.
They accused a large, national lender (one of the 4 largest in America) of lying to Fannie Mae. Fannie Mae is almost a subsidiary of the Federal Government
Added by Kenneth Bargers on June 20, 2011 at 9:53am — No Comments
Borrower only have one loan (Freddie Mac is the investor) service by Provident. After 5 months of waiting for response from Provident , they came back stating that the MGIC PMI company has denied the short sale because the borrower can afford the mortgage base on her income. The homeowner had to relocate for a job and can't afford the mortgage , the apartment rental at the new place & all her other debts & expenses-that's why we are doing a short sale. Prior to doing the short…Continue
by CHRISTINE RICCIARDI, HousingWire.com
With short sales gaining popularity as a more financially sound route to loss mitigation, the dynamic of how they are worked out is changing — with banks providing real estate agents with "warm leads" for short sales.
A panel at HousingWire's REO Expo in Fort Worth, Texas, explained the industry is turning to a "top down" approach to short sales to accumulate more successful…Continue
Government-sponsored short sales spiked and modifications remained steady in April, but the majority of foreclosure prevention work remains in private programs.
Servicers participating in the Home Affordable Foreclosure Alternatives program…Continue
Although the big banks want us to think that they never make a mistake, sometines they make doozies. Bank of America foreclosed on a home for which the owners paid cash! Then ignored court ruling supporting the homeowners. They got their come-upance.
Select this link to read the entire MSN story:
Added by Mike West on June 9, 2011 at 5:00pm — No Comments
Back in June 2006, when the housing market peaked, the prospect of a five-year national housing bust seemed unimaginable to most people. And yet here we are, with the latest Standard & Poor's Case-Shiller index showing that prices hit new bear-market lows, falling back to 2002 levels nationally and to 1990s levels in some battered regions.
Despite all the gloom, however, there…Continue
Added by Chris B Johnson CDPE,SFR,HAFA on June 6, 2011 at 8:00pm — No Comments
This headline grabbed my attention - and made me laugh out loud.
Beyond that, if you weren't aware of it, I find Housing Wire a valuable resource for keeping up to the minute.
Sign up for their email notifications.
Added by Steven Pawera on June 6, 2011 at 2:21pm — No Comments