Many incentives are now being considered by various banks, including Fannie Mae.  Some the incentives they are considering to help sell their foreclosures faster, include reducing the interest rate by 2% over the 1st 2 years.  Not only are many foreclosures being sold at 50 - 60 cents on the dollar, or less, but they are now offering incentives on top of that?
Why aren't these incentives being offered to the current home owner in an effort to avoid foreclosure!!!
Chances are excellent that the current home owner could make the payments at 50-60 cents on the dollar plus incentives!!!
Most of the wealthy … (5 comments)

I have been told, by an attorney, that an individual can sell their home, as long as it is closed prior to the Foreclosure Auction date posted on the Foreclosure notice? An individual who is being foreclosed on has to be given 3 - 4 months prior notice from their lender.
It would be most advantageous to most consumers to put that home on the market at a price lower than price of all other comparable homes currently on the market in their neighborhood and stipulate the home must close within 30 days!
Ex: You owe $100,000 on your mortgage.  Homes like yours … (1 comments)

foreclosures: Who Really Owns Your Home? You or the Bank? - 06/03/09 09:53 AM
A past client of mine who had purchased a home thru my Real Estate company 7 years ago, called me to go list his home.
He explained that he had been laid off and had to sell before the bank took his home.  He had made his mortgage (Rent) payments on time for the past 7 years.  He was late on two payments last year, and his lender (Landlord) would not accept another payment.
Seems he was just renting the house from the bank all those years! 
People need to remember, the house is not yours until it is paid off!

foreclosures: HUD Repo Buyers Beware - 05/06/09 08:44 PM
A few weeks ago I wrote an offer for my client on a HUD (Dept of Housing and Urban Development, Cityside Management), repo.  To make a long story short, HUD accepted their offer of $82,000.  HUD noted HUD's appraiser indicated repairs estimated at $2,200 to be done by the buyer if buyer was getting an FHA loan, which my buyer was.  About 3 wks prior to closing the buyer's lender requested additional repair estimates.  To our surprise, the estimates came in at over $8,000!  This put the property out of the loan perimeters of the buyer so buyer had to let … (1 comments)

foreclosures: The Problem with the US Economy - 11/14/08 08:58 AM
In my opinion, the root of the problem with the US economy is the extreme number of jobs being shipped out of the country.  If you look at how many jobs have gone to Mexico and overseas in the last few years, you begin to wounder how people without jobs, or in constant fear of their jobs being shipped out of country, you can see why a growing number of people can no longer afford to make their mortgage payments or credit card payments. 
But then, how can USA labor possibly compete against $1-$3 per hour wages for goods & services???  When … (4 comments)

foreclosures: RENT vs FORECLOSURE - 09/17/08 07:44 PM
Are you having a hard time making your mortgage payments?  Consider saving your credit by renting your home out, until the market recovers!  If you have a friend or relative who would "Share their Space" with you for a few months, you might save yourself the many years of despair and hardship it will take to get a foreclosure off your credit report!  I provide property management services for North west Arkansas & East Central Oklahoma.  Give me a call.  Steve Hula. United Country Real Estate. (479) 754-3110.


Steve  Hula, All Star Real Estate - Team Hula (All Star Real Estate)

Steve Hula

All Star Real Estate - Team Hula

Clarksville, AR

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All Star Real Estate

Address: 106 S. Fulton St, Clarksville, Clarksville, AR, 72830

Office: 479-754-3110

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