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loan modification: Orlando Housing Facts on the Eve of 2010 - 12/31/09 10:09 PM
With 2010 on the horizon, everyone in Orlando is hopeful that the new year will be the year that the housing market stabilizes. 2009 has been an interesting ride:
Thanks to the home buyer's tax credit, homes sales are up 26% over this time last year. The figures are even better for condominiums - 33%.
Average home prices in Orlando averaged $123,000 in November, but the low prices reflect the fact that 63% of the sales were short sales or bank repossessions. This has made homes extremely affordable for buyers, especially first timers.
Orlando is #8 of the list of … (3 comments)
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loan modification: Working It Out with Your Orlando Lender - 08/06/09 10:41 PM
In trouble with your mortgage payment? If your trouble is short term, you may see the day when you can get back on track, if only your house payments were a little lower. You like your Orlando home and really don't want to move. If this is your story, you want to prevent foreclosure, but aren't interested in a short sale. Your strategy in this case might be to discuss a loan workout with your lender.
You might ask them for a reduced interest rate and a lower payment. Aside from loan modification, other remedies they might be willing to … (2 comments)
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loan modification: Avoid Foreclosure in FL - Many Options Await You - 05/21/09 11:34 AM
Let's clear up a misperception. As we encourage troubled homeowners to "avoid foreclosure," we are not assuming that everyone will be able to keep their home. Some people got in far too deep and bought homes far beyond what a person in their income bracket could really afford. When ARMs adjusted or property values plummeted, these people and many others whose homes were more modest find themselves in need of a solution far bigger than anything out there to keep them in their homes. Some borrowers lost their jobs or second income, got divorced, got sick, or ran into other problems.
… (3 comments)
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loan modification: Do-It-Yourself Loan Modification - Don't Try This at Home - 05/12/09 06:35 AM
You live in a home you love but the payment is pretty high. Fortunately, you have your job and if you pull out all the stops, you can still make the payment. At a time when many others are getting relief in the form of refinancing or loan modification, you start to think how much easier your life would be if only your payment was a few hundred dollars less. You find your way to the Making Home Affordable site, and find you don't qualify for a loan modification because you are current on your mortgage. So you think that maybe … (5 comments)
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loan modification: Hot Off the Press - New Housing Rescue Bill Will Aid Second Mortgages - 05/07/09 01:45 PM
One stumbling block in recent housing stabilization efforts was that the programs only addressed first mortgages. Yet, at least half of seriously delinquent homeowners have second mortgages or home equity lines of credit. A newly passed bill addresses this concern.
When the first Obama plan was announced, investors protested that their loans were jeopardized. As things stand, second mortgages are repaid second if the borrower becomes insolvent. Often the same banks service the same loans which created a conflict of interest. As a practical matter, if the first mortgage was modified and the second wasn't, the homeowner could still have too … (5 comments)
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loan modification: Jingle Mail in Detroit: One Family's Choice - 04/24/09 03:50 PM
The other morning I read an unusual yet not uncommon story about a homeowner in Detroit, MI, who abandoned his underwater mortgage in a nice suburb in favor of an apartment. As I noted in my blog a couple weeks ago, more homeowners are making this choice. What was unusual was that the homeowner in question was a city councilman running for the mayor of Detroit.
It's true that Councilman Kwame Kenyatta is not the only politician in Detroit or elsewhere with mortgage trouble. Still, we think that public officials are above the dilemmas that face the rest of us or that … (50 comments)
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loan modification: Making Home Affordable Website Answers Consumer Questions - 03/27/09 09:08 AM
Making Home Affordable Website Answers Consumer Questions
Uncle Sam gets an A+ for the new website released last week to promote the details of President Obama's Making Home Affordable Program. Now it is very easy to see if you qualify for the programs just by going to the website at www.MakingHomeAffordable.gov and exploring the handy interactive self-assessment tools, calculators, and lists of helpful resources.
On March 19, 2009, the .U.S Department of the Treasury and the Department of Housing and Urban Development (HUD) launched the new website two weeks after releasing guidelines to lenders on March 4. Representatives from … (0 comments)
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Janice Petteway
Orlando,
FL
More about me…
Exit Real Estate Results
Address: 365 Wekiva Springs Rd. Suite 151, Longwood, FL, 32779
Office Phone: (407) 788-1226
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Central Florida real estate, Orlando real estate, Orlando home sales, Orange County, Seminole County, short sales, REO homes, bank owned homes, foreclosures, coaching, exit real estate results, extreme results team, real estate ethics, lakefront property specialist, relocation
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