New Foreclosure Bill in The House - 11/20/07 09:22 AM
This bill is sponsored by Barney Frank. For once there is some sense to something in Congress.
the nuts and bolts of it are that the deficiencies in foreclosures that are typically passed to a foreclosed homeowner in a short sale disappear.
Why does this make sense? For one thing, when someone loses a home to foreclosure, they lose all of the equity (income) in the foreclosure, because the banks sell them off at a loss. If there is a profit from the foreclosure dale, the bank keeps the profit.
Secondly, is the sale is at a loss, the bank gets to expense the … (4 comments)

Loss Mitigation Strategies - 11/20/07 08:04 AM
I have written a lot about foreclosures, and their effect on people, neighborhoods, and the economy. This time around, I thought it would be helpful to real estate agents and homeowner alike to spread some advice on how to handle a loan in default.
Realtors can be a great advantage on working with people in default. By providing a market analysis to potential clients in their farm areas, they can giove  homeowner a sense of the financial need they are facing.
Homeowners can also prepare to work with their lenders, using the market analysis as a tool. Before they cal the lender … (0 comments)

Is there Hope for the Real Estate Market? - 11/07/07 08:25 AM
This seems to be a rather universal question. It is also an honest one. The overwhelmingly resounding answer is YES!!!
As with everything cyclical, and real estate is no exception, it is always best to buy at the bottom of a cycle. So, why aren't more people buying?
Credit ConcernsPeople are concerned about personal liquidityEasy credit has left many people strapped with high levels of consumer debt, which they need to repay to get the debt-to-income ratio in line with lending guidelines. That means people must pay attention to making and keeping a budget.Foreclosed borrowers, and bankrupted potential borrowers haven't seasoned either enough … (0 comments)

 
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Lou Farris

Highlands Ranch, CO

More about me…

Your Castle Real Estate, Inc!

Address: 1776 S Jackson St #412, Denver, CO, 80210

Office Phone: (720) 255-7148

Cell Phone: (720) 255-7148

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