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foreclosure: Consumer Protections Lost when Banks become Sellers - 06/13/08 10:22 AM
Banks now own more than 45% of the homes on the market in many areas of the nation through Foreclosure and Short Sale status.  This has affected the buyer's ordinary rights in purchasing a home, and will have significant long-term effects. Important consumer protection rights which are being eroded or lost in a market situation controlled by Banks through REOs and Short Sales include:
 1.  Buyer loses the ability to set a firm closing date.
2.  Buyer cannot choose the escrow company.
3.  Buyer cannot state a time frame to receive an answer from the bank (ordinarily 1-4 days for seller … (3 comments)

foreclosure: Are you upside down in your mortgage? Here’s what you can do. - 01/07/08 10:12 PM
 
Homeowners who bought real estate in the '05-'06 boom, especially those who took out mortgages of near 100%, find themselves upside down with nowhere to turn.  With a mortgage of $400,000 and a current market value of $320,000, many are frantic to sell and get the load off their back.  But is selling the best answer for your situation?  Find your scenario and assess your options:
 SCENARIO 1:  We are staying to raise our family/retire here.
 If this is your situation, and your monthly payments are affordable for you, sitting tight may be the answer.  Values will climb upward again as time goes … (0 comments)

 

Marsha Cleaveland, GRI, AHWD, CNE

Glendale, AZ

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No longer in the sales business

Address: Glendale, AZ, 85308

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Homes in Glendale, Peoria and Phoenix. Specializing in homes equipped for home office or home business. Professionals, teachers, independent contractors recieve skilled attention when buying a home. Marsha Cleaveland of Keller Williams Realty Professional Partners will help you find a great location in Maricopa County, Arizona.

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