When it comes to Short Sales and Foreclosures its good to keep the quote, “”If it seems too good to be true, it probably is” close to heart. That’s not to say that there are no deals out there on Short Sales and Foreclosures but, for most first time homebuyers, these deals present quite a [...]
In regards to my previous post “Government Will Be Streamlining Short Sales After April 5th” new information has come out on the HAFA Program. The Home Affordable Foreclosure Alternatives program (HAFA) provides instructions for lenders and servicers participating in the Making Home Affordable Program and HAMP. HAFA is designed to streamline the short sale and [...]
With the downturn in the economy over the past two years, hundreds of thousands of homes have gone into foreclosure, offering a unique, once-in-a-lifetime opportunity for many Americans to buy a home at an unheard of price, sometimes 30 percent or more off the most recent sale price. Buying a home is always a challenge. [...]
Many lenders negotiate prices for short-sales but traditionally the only way you could find out was to submit a below-list offer and wait—often for many months—for a response. If the bank made a counter-offer, you knew you were in the ballpark; if they didn’t respond at all, you were too low. By then, you may [...]
If you’re thinking of selling your home, and you expect that the total amount you owe on your mortgage will be greater than the selling price of your home, you may be facing a short sale. A short sale is one where the net proceeds from the sale won’t cover your total mortgage obligation and [...]
The Forms YOU Signed COULD be Protecting YOU Forget loan modifications, short sales, and “jingle mail”! If you are one of an estimated 50 to 60 million homeowners whose mortgage is part of a securitized pool, the law is on your side and everyday more and more people are deciding to exercise their rights with [...]
A REO stands for Real Estate Owned aka bank owned properties. REO’s are a class of property owned by a lender, typically a bank, after an unsuccessful sale at a foreclosure auction. At the foreclosure auction nobody bid on the property and it went back to the bank that had originally financed the loan. The [...]
If you are currently in a Foreclosure process or think you will be shortly visit Don’t Borrow Trouble. This website is operated by Freddie Mac and can help you with learning more about your choices as a homeowner and how to avoid predatory lending and people out there looking to scam you. In the current [...]
