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short sale: Q&A: Mortgage Insurance & Condo Docs - 03/15/12 06:37 PM
I was recently asked a question regarding mortgage insurance and how condo docs work in an REO/short sale situation. I'd like to share my answer with you all!

Question: How much does a person have to put down to avoid paying mortgage insurance? Also, a Realtor on Maui told me that condo docs run between $350 and $400. As I understand, the banks won't pay for them if it's an REO property and in a short sale the seller pays for them.
Answer: Typically you will have to put 20% down unless you qualify for FHA, then it's 3.5% down. … (2 comments)

short sale: HAFA! The Government's Way to Expedite the Short Sale Process. Is it a Reality or a Myth? - 12/16/10 05:26 PM
HAFA! The Government's Way to Expedite the Short Sale Process. Is it a Reality or a Myth? If any of you have done Short Sales and was looking for a way to make the Short Sale process quicker and less frustrating and worrisome, you were probably like me.  Excited about the HAFA program.  The HAFA program promised, among many things, the following:
•1.       An approved asking price prior to listing the property
•2.       Faster process in getting approval on an offer
•3.       Possibility of the owner not having to make any loan payments during the Short Sale Process
•4.       Not have … (5 comments)

short sale: Do You Own Real Estate in Hawaii (Maui or Oahu/Honolulu) and are you Facing Foreclosure? - 03/28/10 04:31 PM
Do you own Real Estate in Hawaii (Maui or Oahu/Honolulu) and are you Facing Foreclosure? There may be Alternatives for you.
Many homeowners in Hawaii are facing foreclosure or are in default on their mortgages. The current state of our economy has affected even "Paradise."   It may be a primary residence, second/vacation home or investment property.  There are alternatives to foreclosure that may be better for you and possibly not damage your credit as much as a foreclosure or bankruptcy.  When viewing your alternatives, it is advised that you also speak with an attorney and/or accountant to see how each will … (0 comments)

short sale: Maui, Hawaii Short Sale - 01/19/10 06:56 PM

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short sale: Short Sale Maui Hawaii - Wailuku - Condominium - 01/15/10 08:14 PM
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short sale: Is this type of Buying and Unloading Good or Bad for Us? - 10/31/09 07:12 PM
My sister just sent me an article from, I believe, Time Magazine.  It is about how buyers, after signing their mortgage documents for their new home which they have purchased at a huge discount as a short sale or REO, they stop making payments on the home they had purchased a few years ago for twice the amount.  The buyer then allows the previous home to go into foreclosure or be sold as a Short Sale.  My first thought is that the buyers that are doing this must be financially sound.  If they were not, they would not have been approved for the … (3 comments)

 
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Karla Casey

Honolulu, HI

More about me…

Karla Casey, Principal Broker, Casey & Associates, Hawaii

Address: Koko Marina Shopping Center, 7192 Kalanianaole Hwy #C121, Honolulu, HI, 96825

Office Phone: (808) 356-2590

Cell Phone: (808) 366-4306

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