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foreclosure: Proactive Short Sale Processors/Negotiators - 03/15/11 10:23 AM


In a part of our industry that is notorious for poor communication, mismanaged files and the like, I've found that lately the short sale processors and negotiators are becoming much more proactive in their approach to the file/deal.  Just in the last couple weeks, I've been contacted by Citi, B of A (I know, amazing right?) and a small lender out West called Vericrest.  All of the reps from these institutions called me very early on in the process to let me know they were assigned to the file and to give me updates on required docs or the … (1 comments)

foreclosure: Buying a Foreclosure in Northern Kentucky - 01/26/11 12:20 PM
Are foreclosures a good investment? A foreclosure property is a home that has been repossessed by the lender because the owners failed to pay the mortgage. Thousands of homes end up in foreclosure every year. Economic conditions affect the number of foreclosures, too. Many people lose their homes due to job loss, credit problems or unexpected expenses.
It is wise to be cautious when considering a foreclosure. Many experts, in fact, advise inexperienced buyers to hire an expert to take them through the process. It is important to have the house thoroughly inspected and to be sure that any liens, undisclosed … (1 comments)

foreclosure: Foreclosure outlook bleak - 2011 to outpace 2010 - So what are you going to do about it? - 01/13/11 10:15 AM

 
After a record year of 1 million homes foreclosed on in 2010, the outlook for this year is proving that 1 million  may be dwarfed in comparison.  There are nearly 5 million mortgage holders that are at least 2 months behind on their payments.  The good news behind these numbers, according to RealtyTrac, is that this year is finally expected to be the peak of the crisis.
1 in 45 households received a foreclosure filing last year.  That's a record 2.9MM homes.  And while the last two  months of 2010 slowed down a bit due to the whole "robo-signing" fiasco, the … (4 comments)

foreclosure: B of A Accused of Illegally Looting Homes!! Yikes! - 12/22/10 09:09 AM

 
As if B of A needed any more bad press with regards to foreclosures, an article surfaces in the New York Times.  We all know what a pain in the A$$ they are to deal with on out short sale files, that is already well documented here on AR & elsewhere, but this latest news is nearly incomprehensible.
The story chronicles a woman named Mimi Ash who was looking forward to a little R & R in her ski-home in Lake Tahoe.  When she arrived at the property she found that the locks had been changed. After finally getting access, all of … (2 comments)

foreclosure: Short Sales and FICO Scores - 07/10/08 12:05 PM
For more information about real estate in the Northern Kentucky market, including full MLS searches w/out registering, please visit www.NickDailey.com.
I just read an interesting post on this topic, and thought I'd share some of it with you.  It details some of the things homeowners can do to help mitigate the damage done to your credit scores after a short sale.
"The short sale can be reported as a foreclosure but more often it is reported as "paid - settled". This is a definite ding on your credit, but not a severe one compared to multiple delinquencies, charge-offs, foreclosure or bankruptcy. … (8 comments)

 
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Nick Dailey RE/MAX: Northern Kentucky Real Estate - NKY MLS - Short Sale

Union, KY

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Address: 4895 Houston Rd. , Ste#100, Florence, KY , 41042

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