Jeremy Smiley - Realtor and Short Sale Specialist with London Properties
The short sale process from A to Z – Short selling your Fresno home, step by step. By: Jeremy Smiley, Realtor, Short Sale Specialist, London Properties Step one: Do your due diligence. Search the web and find out as much as you can on the process. There are a lot of misconceptions about short sales…. Read More
Once your home is listed on the MLS as a Short Sale, you have agreed to let the bank/your lender decide the ultimate “Terms” on which the home will be sold. A Short Sale is unique. Although you are the homeowner according to the note & or deed recorded when you purchased your home…because the… Read More
Top 10 Fresno Seller Short Sale Questions, Answered. Number 10 Q. I can’t make my house payments but I do have an ability to pay back all or part of the negative equity. Also, I want to preserve my credit score…is a short sale right for me? A. Probably not. In cases where the seller… Read More
1. What is a Short Sale? In a short sale, the lender agrees to settle the debt owed on the property for less than the full amount. “Settled” means that the lender is writing off the debt (which is why you get a 1099 after a short sale for the amount of debt forgiven) and… Read More
Source: Elizabeth Weintraub, About.com Guide A reader asks: My husband and I have been making our mortgage payments every month even though our home is underwater. We owe a lot more than our home is worth. Now, my husband has lost his job. We’re thinking about walking away from our home and letting it go to… Read More
Source: 7Online Although some economic indicators hint that the U.S. economy is moving toward a recovery, home values are still suffering from a serious economic hangover. Many home owners are putting off a sale until prices recover. But some owners must sell immediately, even at a loss. Selling a home for less than the debt… Read More
As real estate values have dropped over the last couple of years, drastically in some places, thousands of home owners have found themselves either upside down on their mortgage, unable to afford their payments, or both. The topic of short sales and foreclosures seem to dominate the headlines everywhere. There has been a lot written… Read More
When your roofing needs to be replaced, you seek advice from a roofing expert. When there’s a issue with your computer, you check with a technician who understands your particular model. And when a loved one becomes sick, you seek answers from a medical doctor trained in that particular illness. Similarly, in this current economic… Read More
Bank of America is making changes to the short sale procedures and introducing a much better task flow within the short sale technology module from Equator, BofA’s short sale management platform of preference. The goal is to decrease wait time for the short sale decision to less than 3 weeks. Starting Saturday, April 14, real… Read More
Source: DSnews Data released last week by Standard & Poor’s indicates the fourth quarter of 2011 started with broad-based declines in home prices. The 20-city composite of S&P’s closely watched Case-Shiller index was down 1.2 percent in October versus September, while the 10-city composite reading registered a 1.1 percent drop. Home prices fell in 19… Read More
Source: DS News The analysts at Barclays Capital say a “triple-dip” in home prices will likely materialize by early this year (2012). The term “triple-dip” emerged in a Clear Capital report a couple of weeks ago, and Barclays says its analysis corroborates the idea. The research firm warns that home prices will likely slip another… Read More
Source: DSnews.com Estimates of the industry’s shadow inventory vary widely, but one thing analysts do agree on is that the overhang is massive and will likely weigh on market dynamics for years to come. Measurements of soon-to-be repossessed and foreclosed homes that have yet to hit the market range from 1.6 million by CoreLogic’s assessment… Read More
This just came across my desk. Good news! Bank of America Short Sale Communications Realtor-AgentFeedback@mail.realestateagent.bankofamerica.com to jeremy show details 1:35 PM (23 minutes ago) To ensure delivery, add realtor-agentfeedback@mail.realestateagent.bankofamerica.com to your address book. Now You Can Substitute a New Buyer for One Who Walked Without Restart As an example of our commitment to improving the… Read More
Source: DSnews.com The national home price index from Clear Capital has officially entered double-dip territory. The company says data through the end of April has pushed its reading of national home prices 0.7 percent below the prior low recorded in March 2009, as markets have become saturated with bank-owned properties. Clear Capital’s report shows prices… Read More
Update (3/17/11): The House of Representatives Republican majority voted on Wednesday to withdraw funding for HUD’s Neighborhood Stabilization Program. The vote was largely along party lines. The measure is not likely to be heard in the Democrat-led Senate. *********** Original post: Last week, the House of Representatives voted to end two foreclosure prevention programs and… Read More
How long will a former homeowner who sold through a short sale or foreclosure have to wait before they can buy another home? Here are the rules…. Waiting Period Requirements to Buy a Home Again. The waiting periods in order to qualify for a home loan after a foreclosure, deed-in-lieu, short sale and bankruptcy varies… Read More
Over 47% (66% in California) of all home sales in December were short sales or foreclosures, up from 44.5% in November. CNBC’s Diana Olick has more on this and other real estate headlines.
Source: Atlanta Post – Brittany Hutson The country is still reeling from residential and commercial real-estate properties falling into foreclosure, but the banks are going to have even messier plates due to recent reports that a number of churches are struggling to keep their doors open. According to The Wall Street Journal, many churches borrowed… Read More
