Bank of America Shrinks Window for Short Sale Backup Offers - 01/31/12 09:44 AM
Bank of America Shrinks Window for Short Sale Backup Offers In an effort to shorten overall cycle times, Bank of America has reduced the window for submitting a backup offer on a short sale from 14 days to eight days after the initial offer becomes invalid.
Once a backup offer becomes necessary:
Contact your short sale specialist immediately to let him or her know you have a backup offer to submit.
Within eight calendar days, resubmit the listing data, submit the short sale offer, and upload the offer documents and supporting documents.
All backup offers will require approval, regardless of similarities … (4 comments)
|
Under the Cloud? It’s a sign of the times! - 01/31/12 12:08 AM
Most of us grew up thinking that if we planned well and played by the rules, we’d never have to stand by as our financial lives unraveled.
But upheaval on Wall Street, unacceptable rates of unemployment and plummeting real estate values have taken their toll. Since 2007, 7.9 million homeowners have lost their homes to foreclosure. Current estimates are that one in four homeowners owe more on their mortgages than they could get from the sale of their home. Millions more homes will be lost to foreclosure before this real estate crisis runs its course.
The sad fact … (1 comments)
|
Credit Score Issues - 01/30/12 05:41 PM
Credit Score Issues
Your Mortgage problems don’t have to bring down everything you’ve worked for
Keeping up your credit score is important, right? It helps with securing loans and can keep interest rates low. Plus, a good score won't challenge future employment or security clearance.
This is why I'm sharing important information for anyone having trouble paying the mortgage. Something you may not know is that pursuing a short sale or deed-in-lieu, two dignified foreclosure alternatives, may significantly reduce the impact on your credit score at a crucial time in the financial recovery process.
I have … (2 comments)
|
Deficiency Judgement Short Sale - 01/27/12 04:23 PM
Deficiency Judgement
A deficiency judgment is an action taken against a debtor or borrower whose foreclosure sale or short sale did not cover the entire mortgage debt owed to the lender. A lender’s ability to pursue this course depends on the conditions of the original loan.
A significant benefit of a HAFA short sale is the requirement that lenders and junior lien holders waive their right to a deficiency judgment. This means your lender can’t collect the portion of the mortgage not covered by the transaction. Such protection allows you to more quickly regain financial stability and move on with … (1 comments)
|
Mortgage Crisis Easier - 01/27/12 03:58 PM
Mortgage Crisis Easier
SOLVING YOUR PERSONAL MORTGAGE CRISIS JUST GOT EASIER!
When you or someone you care about is facing the prospect of losing a home to foreclosure, the emotional strain can make the challenge seem unbearable.
I can help you break free of the strain and take control of your financial future.
What's better is that my services come at absolutely no cost to you, the homeowner, and can truly affect change in your life for the better.
STRAIGHTFORWARD SOLUTIONS ELIMINATE CONFUSION
Our country is in a nationwide mortgage crisis. … (0 comments)
|
What if bankruptcy wasn't your only option? - 01/25/12 06:27 PM
What if bankruptcy wasn't your only option?
With more than one in seven mortgages currently not being paid, the financial crisis is affecting millions of homeowners across the country. Some are considering bankruptcy as an option to foreclosure, but there may be options to avoid both. Conducting a short sale can alleviate the stress of an unaffordable mortgage and provide breathing room to restructure finances.
As a CDPE-designated agent, I have specialized training in the financial hardships homeowners are facing today. I've created a free report to provide information on your options and answer questions you may have. To … (1 comments)
|
On the Edge of Losing Your Home? Here's a Lifeline. - 01/25/12 05:59 PM
On the Edge of Losing Your Home? Here's a Lifeline.
Is anyone you know struggling to make mortgage payments? With millions facing foreclosure today, chances are someone you know is in this situation.
As an agent with the Certified Distressed Property Expert designation, I am extensively trained to help homeowners on the edge of losing their home find ways to minimize the financial impact of their situation. I can provide a lifeline of information to help regain control.
To learn more, I've put together a report to explain 10 options to foreclosure, which can be downloaded on my … (0 comments)
|
11213 ORANGE HIBISCUS LN, PALM BEACH GARDENS, FL PRICE REDUCTION - 01/25/12 04:28 PM
MLS # R3237219 @ $1,045,000.00
4BR 4BA 1HB 2.5GAR POOL
LIV. SQ -3787 TOTAL 4739
Old Palm Golf Club is a brand new Golfing Community located in Palm Beach Gardens. Old Palm offers all the amenities of a country club as well as caters to the ultimate golfer.
Old Palm Golf Club is known for its 33 acre golf practice facility and for its Raymond Floyd designed championship golf course. There is a 43,000 square foot clubhouse which offers concierge service, guest accommodations, spa and salon services, dining, and a fitness center.
If you are looking … (0 comments)
|
Think the Foreclosure Freeze Will Save Your Home? - 01/22/12 10:44 PM
Think the Foreclosure Freeze Will Save Your Home?
If you or someone you know is having trouble making mortgage payments, you may be paying special attention to the foreclosure moratorium that politicians are calling for in the press. The reality of a foreclosure moratorium is that it will end, and the foreclosure process will begin again.
The great news is that during a halted foreclosure, lenders are highly motivated to accept short sales. Distressed homeowners can use the time a foreclosure freeze provides to their advantage. I can help distressed homeowners develop strategies so they can move on to … (0 comments)
|
Two ways to sell a Home that is hard to sell - 01/22/12 10:13 PM
Two ways to sell a Home that is hard to sell
Due to strict financing requirements, more real estate transactions will continue to fall apart (go south). Seller may be required to do more &/or get creative in an effort to sell their properties. Options to consider: (2)
Assumable Mortgage: - A type of financing arrangement in which the outstanding mortgage and its terms can be transferred from the current owner to a buyer. By assuming the previous owner's remaining debt, the buyer can avoid having to obtain his or her own mortgage.
Mortgage notes include a … (0 comments)
|
Short Sales Explained - 01/20/12 11:39 AM
Short Sales Explained A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy and the Obama administration have also improved the chances of getting a short sale approved.
But to be technical, here's a more official definition:
· A homeowner is 'short' when the … (0 comments)
|
Working with a Non Approved HUD Agency - 01/19/12 06:10 PM
Working with a Non Approved HUD Agency for Foreclosure prevention.
On a daily basis scam artists posing as financial advisors and/or debt relief consultants take advantage of vulnerable homeowners whose homes have been threatened by economic difficulty. These scammers will often make promises that seem too good to be true, guaranteeing services that will either lower a monthly payment or eliminate back debt in order to save one’s home.
To avoid a scam, homeowners are advises to take the following steps if working with an agency no approved by HUD:
1. Avoid paying for foreclosure counseling services. HUD-approved agencies provide … (3 comments)
|
HUD-Approved Agencies – Safe Help to Avoid Foreclosure - 01/19/12 05:48 PM
HUD-Approved Agencies – Safe Help to Avoid Foreclosure
This is probably one of the safest route available to distress homeowners. The Department of Housing and Urban Development (HUD) is advising homeowners, who are at risk of foreclosure to utilize HUD services. Free counseling from HUD’s nationwide network of approved counseling agencies.
Although each agency offers specific services, each generally offers the following types of help:• General counseling in matters related to housing• An evaluation of a homeowner’s specific situation• Counseling on ways to avoid foreclosure• Help with refinancing through HUD’s various programs or with lender … (0 comments)
|
The Power you need to Never give up!!!!!!!!!! - 01/18/12 11:07 PM
RELENTLESS
"BATTLES AND CONFLICTS ARE INEVITABLE, WE HAVE POWER OVER WHATEVER MAY COME AGAINST US. SO WE CAN , AND MUST, FIGHT RELENTLESSLY UNTIL THE BATTLE IS WON."
"GOD DOESN'T AUTHOR HARDSHIP BUT USES IT TO STRENGTHEN US FOR GREATER CONQUESTS. HE NEVER LEADS US INTO A STORM THAT HE DOESN'T GIVE US THE POWER TO OVERCOME."
YOU ALREADY HAVE WHAT IT TAKES TO FINISH WELL!
- JOHN BEVERE, RELENTLESS
… (1 comments)
|
Deficiency Judgments in Florida. The Real Danger of Foreclosures - 01/18/12 10:24 PM
Deficiency Judgments in Florida. The Real Danger of Foreclosures
Simply walking away and letting the bank foreclose may seem like the easiest thing to do. And since some banks are slow at processing foreclosures, it could mean living in your house for several months before you’re required to move out. But there is a dark side to that plan. It’s called a deficiency judgment.
A deficiency is the difference between what you owe at the time of foreclosure, and the dollars the bank gets after selling the house and deducting all the fees and costs. That includes attorney … (0 comments)
|
Vacant Foreclosures Saddle Local Communities With High Costs - 01/17/12 11:40 PM
Vacant Foreclosures Saddle Local Communities With High Costs
According to Dsnews ,Recent study from the Government Accountability Office (GAO) found that non-seasonal vacant properties across the United States rose 51 percent over the span of a decade, from nearly 7 million in 2000 to 10 million in April 2010. Ten states saw vacancies go up by 70 percent or more, largely as a result of high foreclosure rates. Those with the largest increases over the last decade were Nevada (126 percent), Minnesota (100 percent), New Hampshire (99 percent), Arizona (92 percent), and Florida (90 percent). Georgia, Michigan, Colorado, Rhode Island, … (1 comments)
|
Crack Down! New Michigan Laws Make Mortgage Fraud a Felony - 01/17/12 11:14 PM
Michigan is taking a strong stand on mortgage fraud. New state laws that went into effect at the start of the year have redefined mortgage fraud in the eyes of the law and outline strict consequences for perpetrators.
Residential mortgage fraud is now considered a felony in Michigan, and punishment includes up to 20 years in prison and fines up to $500,000. The new laws define mortgage fraud itself as a criminal act, whereas previously, mortgage fraud fell into the categories of false pretenses and forgery.
Making false statements, concealing facts, or recording documents that contain misstatements or misrepresentations are some … (1 comments)
|
Banks need Responsible REO Listing Agents! - 01/13/12 10:04 AM
Banks need Responsible REO Listing Agents!
As a preferred Reo Listing Agent for major Banks/Servicers my job is to be the seller’s eye & ear on the ground. Usually sellers are distance/states away from their assets and need a responsible take-charge agent/broker to get the job done.
In my years of marketing Reo listings I have never place a Listing on the market with “MOLD”. On Tuesday I showed a Condo with no prior warning the unit is invested with “Black” mold. One minute into the unit & I cough and sneeze for the next 45 minutes. The … (0 comments)
|
Fannie Mae Extends Mortgage Relief for Unemployed Borrowers - 01/12/12 11:49 PM
Fannie Mae Extends Mortgage Relief for Unemployed Borrowers . Unemployment Forbearance
Fannie Mae issued new guidelines to its servicers 01/11/2012, introducing an unemployment forbearance program which provides servicers the flexibility to assist borrowers who have a financial hardship due to job loss, including those facing imminent default.
With unemployment forbearance, the servicer reduces or suspends monthly payments for a specified period for a borrower who is unemployed.
The new guidelines, gives servicer authority to approve an unemployment forbearance term of six months without obtaining Fannie Mae’s approval, provided that all borrower eligibility requirements are met. This mirrors … (1 comments)
|
FOR SALE @ 1.1M 11213 ORANGE HIBISCUS LN PALM BCH GARDENS, FLORIDA - 01/12/12 10:59 PM
Old Palm - Palm Beach Gardens, FL
MLS # R3237219 @ $1,100,000.00
4BR 4BA 1HB 2.5GAR POOL
LIV. SQ -3787 TOTAL 4739
Old Palm Golf Club is a brand new Golfing Community located in Palm Beach Gardens. Old Palm offers all the amenities of a country club as well as caters to the ultimate golfer.
Old Palm Golf Club is known for its 33 acre golf practice facility and for its Raymond Floyd designed championship golf course. There is a 43,000 square foot clubhouse which offers concierge service, guest accommodations, spa and salon services, dining, and a … (1 comments)
|
Renter Nation – New Reality - 01/11/12 10:13 PM
Renter Nation – New Reality
Rent is the new reality for former home owners and new households alike.
For some Americans it is post-traumatic stress from the housing crash, for others it is the inability to get financing to buy a home. Either way, the rental market continues on its tear or upward swing.
According to Reis, Inc. In the last quarter of 2011, the apartment sector saw its largest quarterly increase in occupancy for the year. The vacancy rate dropped to 5.2 percent, the lowest since 2001 and lower than the last cyclical drop in 2006. Rentals are … (3 comments)
|
FOR SALE - HISTORICAL COLLEGE PARK - 150 WELLESLEY DR LAKE WORTH, FL - 01/11/12 03:42 PM
FOR SALE - HISTORICAL COLLEGE PARK - 150 WELLESLEY DR LAKE WORTH, FL. THIS IA AN INVESTOR SPECAIL. NEEDS TLC
COLLEGE PARK SUBDIVISION @88K MLS # R3250666
2BR 1BA 1GAR POOL
NICE FENCED YARD
SELLER WILL REPAIR POOL,KITCHEN SINK,PLUMBING & REPOPCORN CEILING
The district’s Historical Significance can be attributed to its strong association with the early residential development of Lake Worth. First Platted in December 1924 by the edgeworth realty company, this district developed as one of Lake Worth’s initial speculative middle- to upper-middle-class suburbs north of the city’s central downtown core. College Park also represents an early attempt towards … (0 comments)
|
Florida Realtors Education Foundation Up to 4K for College - 01/11/12 02:58 PM
Do you have kids currently in college, or maybe one who is about to graduate high school? Are they interested in a possible real estate-related career?
Florida Realtors® Education Foundation Inc., a not-for-profit corporation, was established to provide real estate-related educational scholarships and grants. Who can apply for the student scholarship program? Florida high school seniors who will be attending an undergraduate college or university; students currently enrolled in an undergraduate college or university; and students pursuing graduate studies.Scholarships to be awarded may range from $1,000 to $4,000, with a maximum of $2,000 to students attending a two-year college. Criteria to … (0 comments)
|
10 Tips to Setting Goals that Sticks - 01/09/12 09:53 PM
10 Tips to Setting Goals that Sticks
(1) Own your goal: It has to be yours. Devised for you.
(2) Your Goal needs to reflect your Values: If the foundation of your goal is not rooted in your values, it has nothing to nurture of help it grow.
(3) Believe that you can accomplish the goal: Too many goals are set without true conviction. They are doomed from the beginning.
(4) Envision the Outcome: See the finish line before you start the race.
(5) Write … (6 comments)
|
Solutions for Your Mortgage Crisis - 01/09/12 12:34 PM
Solutions for Your Mortgage Crisis
Are you in financial distress because of your mortgage? Do you need to get out from under a payment that has become too hard to manage - but can’t sell your house because it is no longer worth enough to cover the mortgage balance?
If so, you are certainly not alone. Hundreds of thousands of other Americans are in that leaky boat with you, and there’s no easy way out. But you do have choices, and you should take a look at all of them before deciding what to do.
You can:
Hope for … (2 comments)
|
Freddie Mac Extends Forbearance To Unemployed Borrowers Up To 12 Months - 01/09/12 11:32 AM
Freddie Mac Extends Forbearance To Unemployed Borrowers Up To 12 Months
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.
Freddie Mac does not make loans directly to homebuyers. Freddie Mac primary business is to purchase loans from lenders to replenish their supply of funds so that they can make more mortgage loans to other borrowers.
According … (1 comments)
|
NewConstruction The Preserve at Bay Hill Estates - West Palm Beach Florida - 01/09/12 11:00 AM
The Preserve at Bay Hill Estates - West Palm Beach Florida (edit/delete) The Preserve at Bay Hill Estates - West Palm Beach Florida
According to GL Website:
New Construction in West Palm by GL Homes a Sunrise based Company. The Community is nestled in a pristine West Palm Beach setting – perfect for living in luxury with beautiful views of natural preserves and lakes.These Luxury estate homes sits on 1/2 acre homesites amidst the beauty of old Florida.
The estate homes range in size from 3,036 to over 5,000 air conditioned square feet and come complete with generous features included … (0 comments)
|
The Preserve at Bay Hill Estates - West Palm Beach Florida - 01/07/12 06:11 PM
The Preserve at Bay Hill Estates - West Palm Beach Florida
According to GL Website:
New Construction in West Palm by GL Homes a Sunrise based Company. The Community is nestled in a pristine West Palm Beach setting – perfect for living in luxury with beautiful views of natural preserves and lakes.These Luxury estate homes sits on 1/2 acre homesites amidst the beauty of old Florida.
The estate homes range in size from 3,036 to over 5,000 air conditioned square feet and come complete with generous features included in the price. GL Homes is offering new and spacious home designs … (1 comments)
|
FYI : HUD EXPANDS SERVICES TO COMMUNICATE WITH THE PUBLIC IN 175 LANGUAGES - 01/06/12 07:09 PM
HUD EXPANDS SERVICES TO COMMUNICATE WITH THE PUBLIC IN 175 LANGUAGESLanguage Interpretation Service will Assist Limited English Proficient Callers
WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) today announced that it has launched the HUD Language Line, a telephone language service pilot that will offer live, one-on-one interpretation services in more than 175 languages. Accessible throughout the nation, the language line will help HUD staff to better communicate with Limited English Proficient (LEP) individuals and families about HUD housing programs, services, and activities.
“Access to government should not be determined by how well a person speaks English,” said … (0 comments)
|
Are you Doing Homeowners a Disservice? - 01/06/12 04:17 PM
"If you have something of value to offer the world and don't let the world know you're doing a disservice."
Are you the go-to specialist in your Community? Let everyone know what services you provide. Unaffordable mortgage payments weighed heavily on a lot of Americans this year. And there's something about the holiday season that seems to magnify financial burdens and uncertainty. For homeowners who feel weighted down by a mortgage that is no longer affordable, there would be few more welcome gifts than the opportunity to make a fresh start knowing that they have successfully avoided … (2 comments)
|
HUD Homes in Florida $100 Down payment - 01/05/12 04:59 PM
HUD Homes in Florida $100 Down payment
An Affordable Choice. The Department of Housing & Urban Development (HUD) will sell Reo properties for $100 down payment providing the buyer meet qualifying guidelines.
Buyer must be Owner-Occupant (Primary Residence) and use FHA financing to complete the transaction. FHA –Federal Housing Administration that is part of HUD – insures the Loan so Lenders can offer a better Deal. Buyer need to qualify for Loan Income, employment etc. Standard underwriting guidelines applies. It’s also important to find a HUD approved/registered Broker/Agent to show the property and submit offer on your behalf.
… (0 comments)
|
Tips & Ideas for Avoiding Foreclosure - 01/04/12 12:14 PM
Are you having trouble keeping up with your mortgage payments? Have you received a notice from your lender asking you to contact them? Please Don't ignore the letters from your lender, Contact your lender immediately. If you are unable to make your mortgage payment Heed the following Points
(1) Don’t ignore the Problem. It will not go away. The further behind you become, the harder it will be to reinstate your loan and the more likely that you will lose your house.
(2) Communicate your problem to the Lender. Lenders do not want your house. They have options to … (0 comments)
|
Positive Momentum - Face your Fear - 01/04/12 11:05 AM
Positive Momentum - Face your Fears
This is the season for taking stock and deciding what needs to happen to move into the year ahead with a positive momentum.
If you or anyone you care about has been burdened by a mortgage that's no longer manageable, you are well aware of how much the stress and uncertainty can cloud a person's outlook. And the fact that millions of Americans are in this situation right now might not be much of a consolation.
The fact is, there are no easy answers. There are, however, connected, qualified experts who are tapped into … (2 comments)
|
FHA Waives Anti-Flipping Rule Through Year-End to Speed REO Sales - 01/04/12 10:12 AM
FHA Waives Anti-Flipping Rule
The Federal Housing Administration (FHA) is extending the temporary waiver of its property anti-flipping rule through the end of 2012. FHA rules typically prohibit insuring a mortgage on a home owned by the seller for less than 90 days. In 2010, however, the agency waived this regulation, and later extended the waiver through 2011.
The new extension announced late last week will permit buyers to continue to use FHA-insured financing to purchase HUD-owned and bank-owned properties, no matter how long the homeowner has held the title, through December 31, 2012. FHA says the waiver will … (0 comments)
|
Citizens Property Insurance - Raising costs for Florida Homeowners - 01/03/12 07:07 PM
Florida-owned Citizens Property Insurance can increase its rates no more than 10 percent per year, but the company has two options that allow it to raise rates without impacting that cap: nixing discounts some homeowners receive for hurricane mitigation efforts and increasing a home’s replacement cost in the premium calculation.Florida homeowners get a property insurance discount if their home has added features that help lower potential damage from a storm. To receive the discounts, homes must first be inspected, and a number of policyholders have done so. However, Citizens claims that the original inspections have listed hurricane mitigation upgrades … (0 comments)
|
Better Business Bureau issues virus warning - 01/03/12 05:54 PM
If an official-looking email claims BBB received a complaint about you, it's likely fake and downloads a computer virus.
ALERT Malicious Complaint Email Claiming It’s From BBB
Better Business Bureau is issuing an urgent SCAM alert cautioning businesses and consumers about an email that looks like it is from BBB, with the subject line “Complaint from your customers.” This e-mail is fraudulent; ignore its contents and delete it immediately. If you have already clicked on a link in the e-mail, run a full virus scan of your computer. The e-mails have return addresses that BBB does not use (one … (39 comments)
|
FHA extends availability of the temporary waiver thru Dec. 2012 - 01/02/12 06:03 PM
FHA Extends availability of the Temporary Waiver thru Dec. 2012
In an effort to continue stabilizing home values and improve conditions in communities experiencing high foreclosure activity, Acting Federal Housing Administration Commissioner Carol J. Galante extended a temporary waiver of FHA’s Property Flipping Rule 2012.
While the waiver remains available for the purpose of stimulating rehabilitation of foreclosed and abandoned homes for another calendar year, the waiver continues to remain applicable to all properties being resold within the 90-day period after prior acquisition. The waiver is not limited to the resale of foreclosed properties.
… (0 comments)
|
Unmanageable Mortgage - 01/02/12 11:33 AM
… (0 comments)
|
A Financial Resolution for 2012 - 01/02/12 10:53 AM
A Financial Resolution for 2012
Millions of homeowners in this country are unable to afford the payments on a home that's worth less than the amount they owe on their mortgage.
These are people who have played by the rules, made good decisions, and had every reason to believe that the American Dream of homeownership was in their hands.
Unemployment, underemployment and real estate market upheaval has derailed a lot of those dreams. Since 2007, 8.9 million homes have been lost to foreclosure.
My mission is to keep you and anyone you care about from adding to that statistic.
The … (0 comments)
|
Tipping the Scales Toward Foreclosure? - 01/01/12 03:41 PM
Resolve to Face the Facts!
Since 2007, 8.9 million homes have been lost to foreclosure and millions more are headed in that direction.
As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, my mission is to ensure that you or anyone you care about does not add to that statistic.
The unfortunate fact is that so many homeowners who have played by the rules and never imagined that they could be facing foreclosure are now in a very tough situation.
More than one in four homeowners owes more on their mortgage … (0 comments)
|
Connect. Share. Learn.Welcome to ActiveRain, the #1 social community for real estate professionals.
;)
;)
