Warning!! Watching this video may damage those “Rose Colored” glasses most have been wearing. 1) 14.4% of ALL mortgages delinquent or already in foreclosure in the US. That is a historic record. 2) PRIME borrowers (NOT SUB-PRIME) borrowers are now the leading edge of this epic housing mess. 33% of all delinquencies (and those already… Read More
Foreclosures: Even Those with Good Credit, Jobs are Walking Away
Interesting article… I’ve noticed this trend as of late. Most of the short sales I’ve listed the past couple months haven’t had a true “Financial” hardship. It’s been more of a business decision for the homeowners to drop their “Toxic Asset” and move on with their life. Via: ecreditdaily.com The foreclosure crisis is taking a… Read More
Investors Fade While Short Sales Soar
Published: Nov. 20, 2009 By Steve Cook Real Estate Economy Watch Investors buying homes to rent or sell accounted for only 15 percent of the housing market last month as they competed with large numbers of first-time homebuyers flooding the market to buy in time to qualify for the first-time homebuyer credit. The percentage of… Read More
Short Sale Tip of the Month
Short Sale Tip of the Month Complete Short Sale Packages—Back to Basics You MUST be certain to submit a complete short sale package to each lender! This may seem like ShortSale101. So, no offense to the veterans among us. But, one of the number one reasons a short sale is denied or a short sale file… Read More
Should I buy a Fresno Short Sale or the Fresno Foreclosure?
I’m frequently asked to explain the difference between a Fresno short sale and a Fresno foreclosure property. Fresno buyers in today’s market who are cash heavy and have a flexible time frame may be in the best position to purchase one of these Fresno short sale properties. Short Sales: A short sale is when a… Read More
Cheaper to foreclose than offer loan modifications?
Cheaper to foreclose than offer loan modifications? A new report from the National Consumer Law Center says Mortgage servicers have found it cheaper to foreclose on homeowners than offer loan modifications. The report points out that servicers in charge of modifying distressed loans are separate from the lenders, who have packaged the loans and sold them… Read More
Finally Bank of America/Countrywide Are Streamlining Their Short Sale Process
This just in… Bank of America/Countrywide are coordinating with an outside company REOTrans.com to streamline their Short Sale process. After months and months of cries and moans over the B of A short sale…we’re getting news that there has been a grouping of these to entities to assist in the processing of open short sale… Read More
Great News For Wachovia Customers In Fresno Considering a Short Sale!!!
Great News For Wachovia Customers In Fresno Considering a Short Sale!!! Wachovia is really leading the way win it comes to approving short sales. They have decided that the best way to fight the current economic conditions in the real estate industry is to let homeowner’s short sale instead of foreclosing. This nets them more… Read More
