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Business Week Ranks San Antonio #1 - 11/24/09 02:32 PM
I found this fascinating quote today:
Business Week gave San Antonio a rank of #1 when they named the "Forty Strongest U.S. Metro Economies" in a recent issue.jimmystewart.typepad.com, Jimmy Stewart - San Antonio REALTOR, Nov 2009
You should read the whole article.
… (4 comments)
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Zillow COO Forecasts New Wave of Foreclosures in 2010 - 11/23/09 11:43 AM
I found this fascinating quote today:Image via Wikipedia
Zillow COO Spenser Rascoff, in an appearance on Fox Business expects a new wave of foreclosures in 2010. Some of the points he made include:jimmystewart.typepad.com, Jimmy Stewart - San Antonio REALTOR, Nov 2009
You should read the whole article.
… (4 comments)
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Facebook For REALTORS - 11/20/09 12:21 PM
I found this fascinating quote today:
Will a REALTOR benefit by joining Facebook? That's not an easy question to answer. My answer is...it depends.jimmystewart.typepad.com, Jimmy Stewart - San Antonio REALTOR, Nov 2009
You should read the whole article.Image via Wikipedia
… (2 comments)
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If Not Now, When? - 11/17/09 04:30 PM
If now is not the time to buy a home, then when will it be time? The last time I remember home prices falling this dramatically was around 1990 with the S&L debacle. If you bought a home then you've done well in terms of equity.
So, is it different this time? Is the slide in home prices almost over? Will home prices be higher in 10 years than they are now? Will interest rates increase over the next few years?
I don't have a crystal ball, so I'm not going to make any predictions. But, I do know that as … (3 comments)
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Do Homeowners Have a Right to a Loan Modification - 11/11/09 02:49 PM
A Minnesota court answered the question: Do Homeowners Have a Right to a Loan Modification? And the answer is...no!
A lawsuit brought by Minnesota homeowners asserted that homeowners had a right to a loan modification. U.S. District Court Judge Ann Montgomery disagreed, stating that loan modifications were not an entitlement.
No kidding!! Can you imagine the multi-year lender backlog that would occur if all homeowners had the unilateral right to modify a contract? Did the plaintiffs to the lawsuit envision a world where lenders could modify a loan to their benefit any time they pleased.
Sometimes I just can't believe the … (3 comments)
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Do Loan Mods Work? - 11/10/09 09:53 AM
Do loan modifications work? That question was not answered by the Treasury Department today in a news release announcing the growth of loan mods. The Treasury said there are now about 650,000 borrowers in the loan modification program, or 20% of eligible borrowers. That figure is up from 16% participation in September.
What percentage of loan mod participants have missed a payment? The Treasury doesn't answer that question. Anecdotal reports suggest default rates at about 50%.
Are loan mod programs with high default rates better than immediate foreclosure for housing prices and lenders? My answer is yes because it keeps many … (4 comments)
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Fannie Mae Announces Deed For Lease Program - 11/06/09 01:25 PM
Fannie Mae just announced the Deed For Lease program that will allow qualified homeowners to take a Deed In Lieu of foreclosure and lease back their home for up to one year. Homeowners must qualify in terms of income and any additional liens must be released.
The Deed For Lease program offers homeowners another option to avoid foreclosure when loan modification or forbearance won't work. But, what will the homeowner do if there are additional liens on their property and the lien holders will not agree to release the liens? There's always foreclosure or bankruptcy, but those options may carry heavy credit burdens for the … (3 comments)
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Jimmy Stewart
San Antonio,
TX
More about me…
n/a
Cell Phone: (210) 601-6805
Email Me
The primary focus of my blog, "Avoid Texas Foreclosure" is to inform distressed homeowners of their options when: (1) their mortgage is currently in default; or, (2) they expect their mortgage to go into default.
In addition, I plan to offer usable information to my fellow agents as they represent buyers and sellers in distressed property transactions.
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