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)
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.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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:
;)
;)
