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mortgage default: STRENGTH IN NUMBERS - 01/28/10 01:23 PM
Selling your home in anything other than an active market can seem challenging, but what do you do when yours is only one of many homes in your neighborhood with For Sale signs? Surprisingly, there are actually some advantages to marketing your home in this situation.
More buyers are drawn to neighborhoods where they can preview more homes at once. More buyers means more opportunities for your home to be seen and to attract an offer, so make your listing stand out against your competition.
Price your home aggressively after reviewing the comparable sales figures provided … (1 comments)
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mortgage default: NOW THERE’S NO EXCUSE! - 01/22/10 02:23 AM
It's the best news in real estate since last year's First Time Home Buyers Tax Credit: an estimated $22 billion will pump into our economy as a result of the government not only extending the tax credit, but including current homeowners, too.
The existing $8,000 maximum credit stays in place for first-time buyers. A "first-time" buyer is one who has not owned a home during the three years prior to the purchase. However, repeat buyers who have lived in their home for five of the past eight years may also qualify for up to a $6,500 tax credit … (3 comments)
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mortgage default: Do You Owe More Than Your Home Is Worth? - 02/07/09 09:20 AM
The following information is intended for REALTORS® and homeowners seeking information on existing mortgage workout programs. In general, the loan modification programs on the chart (see link below) and consumer information sheets (see links below) are intended for primary residences only.
For a lender comparison chart on existing mortgage workout programs, click here (revised 2/09). The chart is a compilation of programs offered by the larger lenders and government entities. If a specific lender or loan servicer is not on the chart, homeowners may wish to contact the lender or loan servicer to determine if a workout program is available.
For consumer information sheets containing detailed information … (0 comments)
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mortgage default: TIME TO MAKE LEMONADE - 02/02/09 08:38 AM
TIME TO MAKE LEMONADE
When one hears the word "foreclosure," images are conjured of families unable to meet their loan commitments, and forced to consider unpleasant options. However, it's not only homeowners that suffer from a foreclosure. Renters can be "out on the street" if their landlord defaults on mortgage payments.
A report from the Mortgage Bankers Association states that nearly 20% of recent foreclosures have been against investors who did not live in the property, and even tenants in good standing face having to vacate the premises if they're renting one of these properties.
Why mention this gloom and … (0 comments)
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mortgage default: What is a Short Sale? - 11/16/08 09:42 AM
A short sale occurs when the proceeds of a real estate sale fall short of the balance owed on the property.[1] In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part of the mortgagor. This negotiation is all done through communication with a bank's Loss mitigation department. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender, sometimes (but not always) in full satisfaction of the debt. In such … (3 comments)
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mortgage default: Facing Foreclosure? Need Financial Help? - 11/09/08 09:36 AM
Items that you need as a seller in a short sale
2 MOST RECENT BANK STATEMENTS
ONE OR TWO YEARS TAX RETURNS
LAST 2 MONTHS OF RECENT PAY STUBS
AUTHORIZATION LETTER
HARDSHIP LETTER
FINANCIAL WORK SHEET
TIME AND PATIENCE
I have over 15 years of experience in Bank Repos and Short Sales. My past clients include General Electric Mortgage, Home Savings, Associates Finance, Transamerica. Current clients include Bank of America, Ocwen Financial Corporation, Countrywide and Keystone Asset Management to name a few.
Larry is President of Weichman Associates located in Costa Mesa California. He has sold real estate since 1976 and is a … (0 comments)
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Larry Weichman
Costa Mesa,
CA
More about me…
Weichman Realtors, A Trusted Name In Costa Mesa Real Estate
Address: 1525 Mesa Verde Drive East, Suite 111, Costa Mesa, CA, 92626
Office Phone: (714) 241-4532
Cell Phone: (714) 863-5739
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