July 2013 Blog Posts (16)

Short Sale Event in Birmingham Al

Attended an MHA short sale event this morning with Wells Fargo, Chase, BOA, FannieMae and FreddicMac. The Federal Program for Distressed Homeowners has been extended through December 31, 2015 for Non GSE Loans. For GSE Loans with Fannie or Freddie, Hamp Loan Modifications have been extended through December 31, 2015. Please let me know if I can help in any way. Gail Oleaga, Realtor WUSA Realty…

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Added by Gail Oleaga on July 31, 2013 at 3:21pm — 1 Comment

DIL vs Short Sale vs Foreclosure

Curious to see different feedback from other professionals on the following:

What advantages are there from the homeowners perspective in considering each of the above over the other, assuming they can no longer keep the home or were denied a loan modification, the property is in California and there is only an existing first mortgage (recourse or…

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Added by Domingo J. Herrera on July 31, 2013 at 2:24pm — 8 Comments

Which Banks Are Currently Paying 8% - 10% commission to agents on their Portfolio Loan Short Sales?

For those that saw us on the short sale cruise in February – YOU ALREADY KNOW (and you missed a GREAT TIME)!!!

 

For those agents that are currently making better use of their time and letting us process your short sales – YOU ALREADY KNOW!!!

 

FINALLY you can get what you are worth!!!

 

Short sales are can take dozens of hours to complete and some banks finally are…

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Added by Ben Benita on July 27, 2013 at 7:00pm — 1 Comment

Wisconsin June 2013 Housing Statistics

The Wisconsin housing statistics are in for June of 2013. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

Wisconsin home sales rose an impressive 11.4 percent in the first six months of 2013 compared to last year, according to recent statistics compiled by the Wisconsin REALTORS® Association (WRA). In June alone, Wisconsin home…

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Added by Michael Collins, CDPE, SFR, BPOR on July 25, 2013 at 2:40pm — No Comments

Freddy Mac Value Appeal Process

How can an agent appeal the value arrived at by Freddy Mac on a single family short sale? The offer was for the exact amount the Servicer asked for, and now Freddy Mac has determined the value to be 12k higher. The property will never sell for that amount............... Any suggestions?

Added by Richard Minn on July 24, 2013 at 7:09pm — 4 Comments

Bank of America Giving Incentives to Employees to DENY Loan Modifications

Bank of America Corp. (BAC), the second-biggest U.S. lender, rewarded staff with cash bonuses and gift cards for meeting quotas tied to sending distressed homeowners into foreclosure, former employees said in court documents.

Mortgage workers falsified records and were told to delay U.S. loan-assistance applications by requesting paperwork that the…

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Added by Mike Linkenauger on July 23, 2013 at 11:00am — 11 Comments

What is Mortgage Insurance?

What is Mortgage Insurance?                        

Mortgage insurance (MI) is a financial guaranty for the lender that will assist to reduce or eliminate a loss in the case the borrower defaults on their mortgage. MI is almost universally required on loans where there is less than 20% equity. This means that if you are purchasing a home with less than twenty percent down or refinancing to more than 80% of your homes’ value, you are required to pay mortgage insurance.…

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Added by Brett Goldsmith on July 18, 2013 at 8:46pm — No Comments

Picking a Profitable Rental Property

photo credit: contemplative imaging via photopin cc

How to Pick Profitable Rental…

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Added by Michael Collins, CDPE, SFR, BPOR on July 18, 2013 at 12:16pm — No Comments

Preparing to Purchase that First Rental Home

photo credit: reallyboring via photopin cc

Advice About Purchasing…

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Added by Michael Collins, CDPE, SFR, BPOR on July 18, 2013 at 12:13pm — No Comments

Success Plan for Investing in Rental Property

photo credit: ifmuth via photopin cc

It Takes a Good Plan to be Successful in Rental…

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Added by Michael Collins, CDPE, SFR, BPOR on July 17, 2013 at 10:07am — No Comments

Is Rental Property a Safe Investment

photo credit: JMS2 via photopin cc

Financial Gurus Still Believe Rental Property Is a Safe…

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Added by Michael Collins, CDPE, SFR, BPOR on July 15, 2013 at 1:10pm — No Comments

Adding the Title of Landlord Behind Your Name

photo credit: janet.powell via photopin cc

Things to Consider Before You Add "Landlord"…

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Added by Michael Collins, CDPE, SFR, BPOR on July 12, 2013 at 10:20am — No Comments

Thank You for Being Open and Honest

Rock Realty Client Testimonials



"Mike & Matt,

Thank you so much for helping us find our dream home! We love it! Thank you for the many hours spent in research, travel, phone calls, and emails. Thank you for being open & honest with us every step of the way! We felt we could trust you 100%. We really enjoyed working with you and highly recommend you to others.

Thanks!"

Kevin & Abby G. (Madison,…

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Added by Michael Collins, CDPE, SFR, BPOR on July 10, 2013 at 10:42am — No Comments

Can't afford a home inspection???? Then, you can't afford to buy a home!

It seems that we've weathered the storm of the foreclosure craze and have experienced a massive pendulum shift in which home seller's can pretty much dictate what they want for a change. Multiple offer and calls for highest and best on NORMAL market sales have become the norm for some markets. All of this is absolutely outstanding.....if you're looking to sell your home.…

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Added by Vanessa Calhoun on July 9, 2013 at 11:08am — No Comments

Short Sales - 8 years in, first time I have had this happen!!!

We have been helping agents all over the country process their short sales and THIS IS A NEW SITUATION:

 

We were working with a smaller bank and THEY ACTUALLY ASKED US TO HELP THEM WRITE THEIR APPROVAL LETTER!!!

Yep, first short sale the bank had ever done.

 

They asked us what documents they needed to see, and, asked us to send them a copy of an approval letter from another bank so they could see what it looked like.  The short sale was quickly approved…

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Added by Ben Benita on July 7, 2013 at 4:54pm — 4 Comments

Nation Star

HELP,HELP,HELP.....any1 please with connection @ Nation star Mortgage. My Chase Short sale was transferred to

Nation Star Mtg..10 days before closing ..NS promised to honor Chase's Approval but I keep getting run around. My

customer's interest rate is about to reset ..I need to find some1 @ North Star (Mgmt.) ..please ..Thank you.

Added by Marcia Pennant on July 3, 2013 at 10:40am — 2 Comments

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