charlottesville foreclosure: Search Foreclosures For Sale in Charlottesville and Central VA - 08/18/15 11:37 PM
Foreclosure Homes for Sale - On the Market!
Charlottesville and Central VA Foreclosures
Looking for a foreclosure home in the Charlottsville, Albemarle, Crozet, Scottsville, Palmyra, Ruckersville, Waynesboro, Staunton, Nelson or Central Virginia area? Want to Flip homes in the area? Click that link to find all the currently available homes in Central Virginia for Free, with no ads or sign in required!
Why Invest, Flip or Buy in Charlottesville?
Charlottesville has a distinctive flavor not missed by those who visit central Virginia. Its residents welcome you into the town’s unique and eclectic mixture of the diverse and the familiar, and visitors quickly realize Charlottesville is a … (0 comments)

charlottesville foreclosure: Looking at Foreclosures - National Factors that Affect Real Estate- Inflation - 01/04/12 07:48 AM
Alright, we have looked at interest rates and how they affect your purchasing power, now we will look the the second Nation Factor that affects foreclosures and Real Estate in general. It is important to know all the factors before making any decision to buy, whether it is a foreclosure or any other home. The second National Factor is Inflation.
Inflation is defined by wikipedia as a rise in the general nominal level of prices over time. Inflation is is measured as the percentage rate of change of a price index. The governments main gauge of inflation is the Consumer Price … (0 comments)

charlottesville foreclosure: Looking at Foreclosures - National Factors that Affect Real Estate - Interest Rate - 01/04/12 07:41 AM
In light of all the news surrounding foreclosures, I thought we should take an in depth look at foreclosures. Over the next couple of weeks, we are going to define National and Local Factors affecting foreclosures, as well as Foreclosure laws in Virginia, the types of foreclosures, the types of property, and how to make money with foreclosures.
We will start with the National Factors that Affect Real Estate. The first is the interest rate. When most people buy a house, they have to borrow money, this is known as a mortgage. The bank however, doesn't give money away, the bank … (0 comments)

charlottesville foreclosure: Virginia Foreclosure Timeline - 03/22/10 03:34 AM
Charlottesville Real Estate, Short Sales and Foreclosures Explained
Virginia Foreclosure Laws
Virginia Foreclosure is Non-Judicial.
Virginia Foreclosure Timeline :
Virginia Foreclosure Day 1Review of file, acknowledgment of receipt of referral and preparation and forwarding of Substitution of Trustee to lender for execution. With Absolute Wireless the referral acknowledgment the client will be advised of any missing documentation. Virginia foreclosure law requires that the Trustee receive a written request from the lender to proceed with foreclosure. The Trustee needs (1) the original note and copy of the deed of trust, (2) copy of default/breach letter and (3) the tide … (5 comments)

charlottesville foreclosure: 510 7 1/2 Street - Bank REO Property in Charlottesville - 03/19/10 07:24 AM
Virginia Real Estate Solutions (434) 975-9000 www.CharlottesvilleShortSale.com
--Information deemed reliable but not guaranteed--Copyright: 2010 by the Charlottesville Area Association of REALTORS® PLEASE VISIT US AT WWW.ROBSELLSCHARLOTTESVILLE.COMPrepared by Rob Alley of KELLER WILLIAMS REALTY on 3/19/2010 3:22:19 PM
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charlottesville foreclosure: Charlottesville Foreclosures - Freddie Mac REO Homes for Sale - 09/15/09 06:36 AM
Charlottesville Foreclosures - Freddie Mac REO Homes for SaleProperty Status: LISTED (available for sale now)Zip Code: 22901Loan: 330957481 Address: 725 DENALI WAY, CHARLOTTESVILLE, VARooms: 4 Bed: 2 Bath: 2.0 Price: 91,900.00Offered By: REAL ESTATE III INC (434) 817-9700Zip Code: 22902Loan: 766024679 Address: 1105 DRUID AVE APT Q, CHARLOTTESVILLE, VARooms: 7 Bed: 2 Bath: 3.5 Price: 202,500.00Offered By: LONG & FOSTER RE (703) 877-7836Zip Code: 22903Loan: 362483078 Address: 308 6TH ST SW APT A, CHARLOTTESVILLE, VARooms: 8 Bed: 4 Bath: 3.0 Price: 116,600.00Offered By: LONG & FOSTER RE (703) 877-7836Zip Code: 22911Loan: 110114167 Address: 2247 HUMMINGBIRD LANE, CHARLOTTESVILLE, VARooms: 9 Bed: 4 … (0 comments)

charlottesville foreclosure: Charlottesville Foreclosure Update - 09/15/09 06:33 AM
Charlottesville Foreclosure UpdateThere are currently 9 foreclosure properties in Charlottesville right now. That's about 1 in every 1,874 houses. Charlottesville is rated as a low foreclosure area for now.Rob Alley, Realtor at Keller Williams Charlottesville540-250-3275 (cell)roballeyrealtor@gmail.comhttp://www.robsellscharlottesville.comhttp://www.forestlakesliving.comhttp://www.charlottesvillevarealestate.blogspot.comhttp://www.charlottesvilleshortsale.comhttp://www.theaverygroup.com
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charlottesville foreclosure: U.S. Foreclosure Update - 09/15/09 06:30 AM
U.S. foreclosure filings in August fell less than 1% from July and rose 18% from the year-earlier month, the real-estate consultants RealtyTrac reported.Foreclosure filings -- defined as default notices, scheduled auctions and bank repossessions -- were reported on 358,471 U.S. properties during the month, the Irvine, Calif., firm said. That's 1 of every 357 U.S. housing units.Real estate owned by banks dropped 13% in August compared with July, which had marked the monthly high for 2009. But at the same time, a record number of properties entered default or were scheduled for foreclosure auction in August, RealtyTrac Chief Executive James J. … (0 comments)

charlottesville foreclosure: Charlottesville Homeowners with 2nd Mortgages - 07/22/09 01:53 AM
Charlottesville Homeowners with 2nd Mortgages and the options they have.You probably know that Charlottesville bankruptcy judges do NOT have thepower to reduce the principal of a first mortgage in the event you file for bankruptcy personally.There was a move to change this. But the powerful lobby for the big elite banks defeated it in congress.But are there cases where filing a Charlottesville bankruptcy can wipe out a mortgage?Regarding 2nd Charlottesville mortgages...I have read that the US bankruptcy code section 6 allows for wiping out a second mortgage in a situation where the 1st mortgage loan amount is greater than the current … (0 comments)

charlottesville foreclosure: Charlottesville Foreclosure Projections - 07/22/09 01:52 AM
Charlottesville Foreclosure ProjectionsIf the majority of Wall Street economists are right, the U.S. recession will end this quarter and the global recovery won't be far behind. And our window of opportunity for once in a lifetime deals is here, but not for long. (Read on below.)On Wednesday, the International Monetary Fund is expected to nudge up its forecast for 2010 global growth from the current estimate of 1.9 percent, primarily because fears of a more serious economic setback have not materialized.That makes for a brighter backdrop to this week's meeting of leaders from the Group of Eight major industrial nations in … (0 comments)

charlottesville foreclosure: Charlottesville and Central Virginia Short Sale Information - Commission - 07/22/09 01:49 AM
The most common concerns and questions regarding a short sale is commission. Who pays the commission?In a short sale, the bank pays everything at closing from the cost of the termite inspection all they way to the recordation fee. This includes the commission. The listing agent should be in contact with the bank on behalf of the seller and the contract. The listing agent is resposible to negotiate the overall commission with the bank. THE SELLER (HOMEOWNER) DOES NOT HAVE TO PAY THE COMMISSION. Most banks will pay anywhere between 4% and 6%. Depending on the listings agent and their ability … (0 comments)

charlottesville foreclosure: Anti Deficiency Laws - Virginia Has None - 07/20/09 02:56 AM
Anti Deficiency Laws
Some states have anti-deficiency laws. These are laws that protect purchasers of residential real property used for his/her primary residence pursuant to a purchase money mortgage. In the event that the purchaser fails to make the mortgage payment and the property is foreclosed and sold to pay the mortgage, a deficiency between the sale price and the outstanding balance of the mortgage could occur. Under anti-deficiency laws, the purchaser will not be held responsible for any deficiency the lender can only recover the property and the proceeds of a subsequent sale; the purchaser does not pay any deficit between … (3 comments)

charlottesville foreclosure: Why a Deed in Lieu of Foreclosure is a Bad Thing - 07/20/09 02:37 AM
A Deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e. the borrower ) conveys all interest in a real property to the mortgagee (i.e. the lender) to satisfy a loan that is in default and avoid foreclosure proceedings. How a Deed in Lieu of Foreclosure WorksIn order to be considered a deed in lieu of foreclosure, the indebtedness must be secured by the real estate being transferred. Both sides must enter into the transaction voluntarily and in good faith. The settlement agreement must have total consideration that is at least equal to the fair market value … (0 comments)

charlottesville foreclosure: Preforeclosures Rising in Charlottesville, now ranked #4 in VA - 07/16/09 07:29 AM
Here is a map from Realty Trac that shows the trends in Virginia in Preforeclosures:
This map shows the number of preforeclosures in the state of Virginia. Right there in Central Virginia is Albemarle County and Charlottesville Ranking #4. You can see the actual map by clicking on the picture of the one above. The definition of preforeclosure on realtytrac.com is the number of people that are at least 90 days behind and the banks have submitted it to their credit report. This is a new development in our area and further proves that the Charlottesville Real Estate market is going … (2 comments)

charlottesville foreclosure: Obama Expands Refinance Program From 105% To 125% - 07/02/09 03:34 PM
Today HUD Secretary Shaun Donovan announced that the Obama Refinance - also known as the Making Home Affordable Plan - was expanding the guidelines to allow people to refinance their homes up to 125% loan to value.This means that people who were previously under water by more than 105% and couldn't refinance under the Obama refinance plan can now refinance their homes as long as they do not owe more than 125% of what their home is worth.This change in guidelines is just one more thing the Obama administration is doing to boost participation in its anti-foreclosure programs.Prior until today's announcement, … (0 comments)

charlottesville foreclosure: How long would it take to evict former owner (but current occupant) of house acquired in short sale, in VA? - 07/02/09 03:29 PM
A bank has approved our offer for a short sale of a home in pre-foreclosure. The current owner of the property has told us he will only move forward with settlement if he can have two months free rent back while he finds someplace to go. If it came down to it, and I accepted this offer, to what lengths could the current owner extend his stay beyond those two months-through filing bankruptcies, or other legal means that could prevent me from moving forward with an eviction? Clearly, I am not going to move forward unless I KNOW that I can … (1 comments)

charlottesville foreclosure: Your Mortgage is Stealing Your Future - What Banks Don't Want You to Know - 05/06/09 06:59 AM
Did you know that on your typical 30-year mortgage, it takes approximately 21 years just to pay down less than half of the principal of your loan? The Mortgage industry's big secret has been kept away from the public since the Roosevelt administration. This little known secret has been taking you (and every other homeowner) for a very costly ride. Your 6% LOW INTEREST MORTGAGE IS REALLY costing you upwards of 60% or more! You might be asking how you could possibly be paying THAT much without knowing it? It is because ALL mortgages are front end loaded, meaning you're paying … (0 comments)

charlottesville foreclosure: US Foreclosures Up 24 Percent In 1st Quarter 2009 - 05/06/09 06:51 AM
The number of American households threatened with losing their homes grew 24 percent in the first three months of this year and is poised to rise further as major lenders restart foreclosures after a temporary break, according to data released Thursday, April 16th, 2009.
The big unknown for the coming months, however, is President Barack Obama's plan to help up to 9 million borrowers avoid foreclosure through refinanced mortgages or modified loans. The Obama administration expects its plans to make a big dent in the foreclosure crisis. But it remains to be seen whether the lending industry will fully embrace it, … (0 comments)

charlottesville foreclosure: No Bankruptcy Help For Homeowners - 05/06/09 06:48 AM
The Obama administration lost a bid to add a powerful weapon in its fight against foreclosure on Thursday, April 30th, 2009 after the Senate voted down a proposal to allow bankruptcy judges to modify mortgages. The defeat left many housing advocates questioning the effectiveness of the president's loan modification plan. The so-called cramdown provision, which would allow judges to reduce mortgage principal, would have put pressure on servicers to modify loans before borrowers file for bankruptcy.
The financial industry lobbied hard against the bill, arguing that letting judges change mortgage contracts would add instability to the market and raise interest rates. … (0 comments)

charlottesville foreclosure: Foreclosure Filings In Record Jump - 05/06/09 06:38 AM
Lenders continued to rewrite troubled mortgages at a fast clip during March, 2009 but the weakening economy still sent foreclosure starts soaring to a record high.
Repayment plans merely postpone payments for delinquent borrowers without making them any more affordable. Mortgage modifications are changes in the terms of loans that reduce or freeze interest rates, extend the life of the loan, reduce loan balances or any combination of those three, to, ideally, lower the amount borrowers pay monthly. Modifications are considered more effective that repayment plans. The lending industry is steadily working out solutions for homeowners and keeping as many as … (0 comments)

 
Rob Alley, Invite Us In! We'll Bring Results! (RE/MAX Realty Specialists)

Rob Alley

Invite Us In! We'll Bring Results!

Charlottesville, VA

More about me…

RE/MAX Realty Specialists

Address: RE/Max Realty Specialists, 355 W Rio Road, Suite 102, Charlottesville, VA, 22901

Office: (434) 964-8369

Mobile: (540) 250-3275

Author Bio: Rob Alley earned a bachelors degree at Virginia Tech, in Blacksburg, VA in Biology. Rob Alley consults with homeowners regarding Real Estate transactions and speciliazes in listing and selling Charlottesville Real Estate.

A comprehensive blog about Charlottesville Real Estate including articles on short sales, foreclosures, market updates, news, resources and more. Charlottesville Real Estate news and information. All new updates and market conditions as well as charlottesville short sale information, charlottesville foreclosure listings, avoiding foreclosure help, buying and selling information, central virginia updates, mortgage updates, charlottesville happenings, and tips and tricks in a slower market by Rob Alley, Realtor of RE/Max Realty Specialists


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