More market news about short sales Courtesy of The Signal, in California. The title of this article is, “Short Sales Hamper Market”, and it’s an interesting article because it somehow backwardly blames the housing problems on Short Sales, even though we have shown over and over again that short sales are actually a mitigating factor, [...]
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Posted in Market News
Tagged california, foreclosure, news, realtor, short sale, short sales
Tagged california, foreclosure, news, realtor, short sale, short sales
I always find it amusing when someone thinks they are entitled to a short sale simply because their home is underwater. We have said it over and over again; but this little Q&A blurb from MarketWatch (paraphrased below) explains it very well: WASHINGTON (MarketWatch) — Question: In your June 4 column, you mentioned that a [...]
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Posted in Education, Market News
Tagged foreclosure, hardship, lender, short sale, short sales, tips
Tagged foreclosure, hardship, lender, short sale, short sales, tips
Housing Wire author Cary Steinberg recently wrote an interesting piece on about HAFA and HAMP. The premise of the article is that HAFA (the Home Affordable Foreclosure Alternative) will likely be successful because it is an exit strategy for homeowners, allowing them to sell their house for less than they owe – as opposed to [...]
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Posted in Market News
Tagged analysis, foreclosure, HAFA, HAMP, harp, news, reo, short sale, short sales
Tagged analysis, foreclosure, HAFA, HAMP, harp, news, reo, short sale, short sales
// Interesting read at CNBC last Friday about banks moving to short sales by Dianna Olick. Earlier this week a top executive at Bank of America told an REO conference in Dallas that the lender would be focusing more on short sales than ever before. At first hearing this, I assumed it was because of [...]
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Posted in Uncategorized
Tagged bank of america, foreclosure, HAFA, HAMP, preforeclosure, reo, short sale, short sales
Tagged bank of america, foreclosure, HAFA, HAMP, preforeclosure, reo, short sale, short sales
Good to see some of the news media recognize the hand investors have in alleviating some of the pressure of the housing crisis. Still, real-estate experts working inside and outside the investment community agreed that investor interest in the Valley real-estate market has helped to prevent communities in 2009 from being overtaken by boarded-up, crime-friendly [...]
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Posted in Market News
Tagged economy, foreclosure, investor, real estate market, short sale, short sales
Tagged economy, foreclosure, investor, real estate market, short sale, short sales
Interested in reading the HUD’s nitty-gritty analysis of the foreclosure crisis? It’s definitely a detailed read, but very informative. In a nutshell (from the Executive Summary of the report); the analysis and report covers: This study of the root causes of the current extremely high levels of defaults and foreclosures among residential mortgages represents the [...]
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Posted in Market News
Tagged analysis, congress, foreclosure, government, HUD, report, short sale, short sales
Tagged analysis, congress, foreclosure, government, HUD, report, short sale, short sales
Short sales aren’t brain surgery, but the terms can get confusing – lender terms, contract stipulations, can all be confusing. Here’s a quick run-down as found on a few different short sale sites that break down some of the most common language! Short Sale Terms Advertising- (or Publishing) A copy of the Notice of Trustee [...]
Ever wondered about what the steps are in a typical foreclosure process? Here’s the quick rundown! Step 1. Delinquency – Pre Notice of Default (NOD) Normally, a borrower will need to be at least three months late on their mortgage payments for the foreclosure process to kickoff. After three months plus, a lender will issue [...]
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Posted in Education
Tagged foreclosure, mortgage, notice of default, short sale, short sales
Tagged foreclosure, mortgage, notice of default, short sale, short sales
I was reading this article today in the LA Times about lenders becoming increasingly accepting of the short sale process. It mirrors what we have been saying here in this blog since November – that short sales are increasingly becoming accepted and it’s being pushed by politicians and the bank’s best interests. The reason I [...]
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Posted in Market News
Tagged 2nd lien, bank of america, BofA, fannie mae, foreclosure, freddie mac, government, HAFA, HAMP, lenders, loss mitigation, mortgages, short sale, short sales, underwater
Tagged 2nd lien, bank of america, BofA, fannie mae, foreclosure, freddie mac, government, HAFA, HAMP, lenders, loss mitigation, mortgages, short sale, short sales, underwater
Came across an article today in the Wall Street Journal that I thought was interesting: January 27, 2010, 9:56 AM ET Why 2010 Could Be the Year of the ‘Short Sale’ If 2009 was the year of the foreclosure (and loan modification), then 2010 may be shaping up as the year of the short sale. [...]
