mortgage » The Art of Short Sales

26Mar10 Obama Administration’s New Plan to Cut Mortgage Balances

Boy, it sure seems like every day there is a new plan out there to help the housing market! The Wall Street Journal reported yesterday on a new plan by the Obama Administration to cut mortgage balances without actually getting the borrowers out of the home. Before we go into analysis, here are the documents [...]

2 Comments Posted by Nick in Market News
Tagged government, HAMP, incentives, mha, mortgage, refinance, second lien, short sale, short sales

16Mar10 Is the HAFA Impact on Short Sales Being Overblown?

A great analysis article today courtesy of Housing Wire discusses how the solution to the housing crisis will ultimately be REO (real-estate owned). The REO trend is based on their analysis that the size of the foreclosure market is so overwhelming that even short sales won’t be able to keep up with the demand: But [...]

2 Comments Posted by Nick in Market News
Tagged default, HAFA, HAMP, housing crisis, mortgage, reo, short sale, short sales

27Feb10 A Step by Step Analysis of the Foreclosure / Short Sale Process

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 [...]

No Comments Posted by Nick in Education
Tagged foreclosure, mortgage, notice of default, short sale, short sales

15Feb10 HUD Proposal Would Eliminate Seller Financing – Call to Action!

Short Sale Artisan Commentary: This has been spreading like wildfire on the internet, I think all investors and agents should be aware of this proposal: The following information is extremely important! HUD Issues Problematic Rules Interpreting SAFE Mortgage Licensing ACT HUD has proposed to eliminate ALL seller financing unless the seller lives in the home [...]

No Comments Posted by Nick in Market News
Tagged government, HUD, mortgage, regulations, seller financing, short sale, short sales

30Nov09 Graph of Distressed Properties in Orange County

Found this graph today which shows the breakdown of distressed properties over time in Orange County. The total number of distressed properties was going down until October and November is showing an uptick. Interestingly though is the breakdown of short sales vs. foreclosures – you can see that short sales are becoming an increasingly larger [...]

No Comments Posted by Nick in Market News
Tagged california, distressed property, graph, mortgage, shortsale

24Nov09 CNN Video on Mortgage Delinquency and Foreclosure Rates – Amazing Statistics!

CNN reports some incredible facts as it relates to the mortgage industry. The Mortgage Banker’s Association (MBA) 3rd Quarter Reports indicate some pretty unbelievable statistics about the state of foreclosure and delinquency: 9.64% of all mortgages are in delinquency 4.47% of all mortgages are in foreclosure Added up, a total of 14.41% of mortgages are [...]