cdpe: Beige Book Indicates Increase in Mortgage Loan Modifications
- 06/07/12 03:07 AM
The recent release of The Beige Book sparked conservative optimism across the board, particularly regarding the increase in loan modifications. The Beige Book is a scorecard analyzing and evaluating economic conditions released by the Federal Reserve. As of April 2012, more than 1.1 million homeowners received a modification through the Home Affordable Modification Program (HAMP), according to the Making Home Affordable Report. On average, homeowners who received a modification through HAMP saved $535 a month. Of those entering the program, 86 percent received a permanent modification, with an average trial period of 3.5 months. “This month’s indicators show promise – more than … (0 comments)
cdpe: Home Affordability Programs
- 03/29/12 02:25 AM
The Obama Administration is serious about helping homeowners avoid foreclosure, and has implemented a variety of programs to assist homeowners in keeping their American dream. This is why the Making Home Affordable Program was created. There are several plans within this program, specific to the needs of individual borrowers. If you are interested in refinancing or modifying your current mortgage, you may qualify for one of the following programs: The Home Affordable Modification Program (HAMP) can lower your monthly mortgage payment to 31% of your gross income, which in turn could result in a 40% reduction...READ MORE HERE … (0 comments)
cdpe: Short Sale versus Foreclosure
- 03/22/12 05:09 AM
In these challenging economic times, more and more homeowners are finding themselves weighing the pros and cons of a short sale versus a foreclosure. It may go without saying that you want to try to avoid foreclosure at all costs. But after months, if not years, of battling overwhelming debt and an underwater property, foreclosure might seem appealing due to the shear fact that it’s easier. However, the long term effects of a foreclosure might be more difficult than you realize. For starters, there is your credit score to consider. A foreclosure can adversely affect your credit score by 100-200 … (1 comments)
cdpe: Is Your Mortgage Out of Balance with Your Budget?
- 03/01/12 05:26 AM
Is your mortgage out of balance with your budget? It can happen quickly. An expensive car repair, an unexpected hospital visit, a missed week of work – just a few little things and the life you’ve worked so hard to build can feel like it’s tipping dangerously out of balance. READ MORE HERE--> Emcee Arah - "the REALTOR with Architectural Dimension" – is both a Certified Distress Property Expert (CDPE) and a Certified Investor Agent Specialist (CIAS). He is uniquely equipped to assist you in navigating today's residential real estate market. Contact us onlineor by phone at (301) 452-5252. And … (0 comments)
cdpe: What Can A CDPE Do For Me?
- 02/23/12 08:30 AM
Problems are a guaranteed part of life, and home ownership comes with its own set of issues. If your roof is leaking, you look for someone who's got expertise in roofing. Same with leaking pipes – when the problem requires more than a simple tweak, you call a plumber. When an old tree falls on your property, you seek out someone who's experienced to remove it. In the same way, millions of home owners across the country are dealing with problems that stem from the current economic crisis. Financial hardship – including loss or decrease of income – can lead to … (2 comments)
cdpe: It’s a Sign of the Times!
- 02/02/12 06:34 AM
Most of us grew up thinking that if we planned well and played by the rules, we’d never have to stand by and watch as our financial lives unraveled. But the upheaval on Wall Street, unacceptable rates of unemployment and plummeting real estate values have taken their toll. Since 2007, 7.9 million homeowners have lost their homes to foreclosure. Current estimates are that one in four homeowners owe more on their mortgages than they could get from the sale of their home. Millions more homes will be lost to foreclosure before this real estate crisis runs its course. The sad … (1 comments)
cdpe: What IS a Short Sale?
- 01/19/12 10:51 AM
A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. But to be technical, here's a more official definition: A homeowner is 'short' when the amount owed on their property is higher than current market value. A short sale occurs when a negotiation is entered into with the … (0 comments)
cdpe: Resolve to Face the Facts!
- 01/12/12 11:55 AM
Since 2007, 8.9 million homes have been lost to foreclosure, and millions more are headed in that direction – including many homes right here in the Silver Spring area. As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, my mission is to ensure that you or anyone you care about does not add to that statistic under any circumstances! The unfortunate fact is that so many homeowners who have played by the rules and never imagined that they could be facing foreclosure are now in a very tough situation. More than one in … (2 comments)
cdpe: Create a Home Inventory for Insurance
- 12/12/11 12:18 PM
Experiencing a theft, flood, fire, or other casualty loss can be devastating. Imagine trying to list from memory for your insurance claim every single item that was damaged or destroyed. The task will be less daunting if you create a home inventory in advance and keep it in a safe place. We turned to HouseLogic for some great ideas on this very topic. Having a digital camera and camcorder will make creating an inventory much easier. Set aside enough time to review your insurance policies, dig up receipts, document your possessions, and figure out where you’ll store your records. One day … (1 comments)
cdpe: Take Action Now to Turn Things Around in 2012
- 12/06/11 10:27 AM
Recent economic upheaval has taken a hefty toll. Looking forward to 2012, it’s impossible to know what’s next and the kind of an impact that an upturn or a downturn at the national level stands to have on your family’s finances. Regardless of what happens in Washington or on Wall Street, two things are very clear: you are not alone and now is the time to prepare for a new normal. With a national epidemic of unemployment or underemployment, and 25 percent of the homeowners in the country owing more on their home than they could net for it in … (1 comments)
cdpe: Let's Take Another Look at Short Sales
- 10/13/11 12:27 PM
As recently as a few months ago, if you would have told a real estate agent who specialized in short sales that they’d be raving about a lender’s stellar service and rapid approval times—not to mention significant cash incentives for financially strapped homeowners for pursuing a short sale—you’d have gotten some strange looks. That’s all changed. And it’s changed faster and to a greater extent than most real estate professionals ever could have imagined. With a glut of bank-owned properties dragging down the recovery of the real estate market, as well as the national economy, major lenders are more eager than … (1 comments)
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