Archive for the 'Foreclosures & Short Sales' Category
What is Congress doing Now? Increases in Mortgage Insurance will Hurt the Recovery.
Remember on February 24, 2010 when Maxine Waters sparred with Ben Bernanke about how she felt increasing interest rates would hurt the consumer?
(Ok, their actually discussion was like watching people speaking different languages trying to get a point across to each other.. as the federal funds rate is not related to interest rates.. but I […]
Read More..>>Distressed Sales on the Rise Again.
Distressed Sales Again on the Rise, Reaching 29% in January and Nearly 1 Million Distressed Sales During the Last Year
CoreLogic released its first monthly report on distressed sales activity. The report below indicates
that distressed home sales – such as short sales and real estate owned (REO) sales – accounted for 29 percent of all sales in […]
HUD Redefines “Foreclosed” to Include 60-Day Delinquencies
04/02/2010 By: Carrie Bay
HUD’s got a big red editing pen in hand and is going to work on what we’ve all understood to be the traditional meaning of foreclosure. The federal agency announced Friday that it is changing how it defines foreclosed to include properties in default and abandoned to include homes with lingering code […]
HUD Takes Action to Speed Resale.
Hopefully, this will be great new for buyers, sellers & community values!
HUD TAKES ACTION TO SPEED RESALE OF FORECLOSED PROPERTIES TO NEW OWNERS
Measure to help bring stability to home values and accelerate sale of vacant properties
WASHINGTON - In an effort to stabilize home values and improve conditions in communities where foreclosure […]
Short Sale Scams Continue… at the bank level.
Below is a link to a story that was recently run on CNBC. This goes into a little more detail about how the short sale scams are continuing… only at the banking level… and it’s putting our homeowners in a very difficult situation. Frankly, this story is disgusting, yet something we are continuing to see […]
Read More..>>My property was misrepresented by the bank. Now what?
My property was misrepresented by the bank. Now what?
Question:
Seller is a bank. Transaction is in escrow, with the financing contingency deadline fast approaching–buyer’s inspection is done and settled. Seller agreed to take care of septic according to County requirements. Buyer just received the completed O&M. It states, “Meets requirements for system evaluation and permit compliance” […]
Treasury sets guidance to simplify “short sales”
Treasury sets guidance to simplify “short sales”
By Al Yoon Al Yoon – Mon Nov 30, 6:58 pm ET
NEW YORK (Reuters) – The U.S. Treasury on Monday set long-awaited guidance on a plan for mortgage companies to speed “short sales” of homes and other loan modification alternatives to stem a rising tide of foreclosures.
The Home Affordable […]
Tenant Occupancy & Foreclosure. How long can I stay?
Tenant Occupancy and Foreclosure. How long can I stay?
Question:
Are there new state and/or federal laws affecting tenant occupancy of rental property after a foreclosure sale?
Answer:
Yes. Both Washington State and the United States recently created new law addressing a tenant’s right to retain occupancy of housing after a foreclosure sale. The Washington law took […]
Foreclosures, Mortgages & Boundary Line Adjustments.. oh my!
Foreclosures, Mortgages & Boundary Line Adjustments.. oh my!
Here is a perfect example of why you should ensure all parties are on board for any legal or real estate transaction. If you have any questions about what you’re trying to accomplish, talk to an expert.
Question:
Property owner owned two adjoining lots. Each lot was separately mortgaged. […]
Filing Bankruptcy & Selling your Home?
Filing Bankruptcy & Selling your Home?
Below is today’s opinion from Annie Fitzsimmons, the attorney who answers questions for the Washington Association of REALTORS® Legal Hotline. If you or someone you know is facing a hardship with their property, please talk to an expert to determine the best way to proceed forward. For additional questions or information, […]