banks: Housing Bust ~ A Solution? - 08/22/07 04:33 AM
Okay, it's out there. We all are hearing/reading about it daily. The sub-prime fallout, neg-am disaster, 100% financing is toast and loan officers laid off. It's not what most people expected. Most of us have been in denial. The majority of victims, the highly leveraged newer homeowners, are feeling like their world … (9 comments)
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banks: A Letter to the Banks from Sacramento California - 08/22/07 12:19 AM
The streets are full of your irresponsible lending practices. When checking the MLS this evening and pulling up homes built from 2004 till now in just Sacramento County, there were 182 homes listed as short sales. This figure doesn't account for those homes that have already been repossessed and are now owned … (45 comments)
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banks: August Prepares to Roar into Fall Market - 08/20/07 03:26 PM
TORONTO, Aug. 17 /CNW/ - Resale home transactions reached unprecedented heights in the first half of August,up 17 per cent from the same period in 2006, Toronto Real Estate Board President Donald Bentley announcedtoday. So far this month 3,838 properties have sold with an average price of $355,829."The market has shown … (0 comments)
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banks: Why I don’t think fraud or sub-prime loans are the reason - 08/19/07 10:04 PM
We see banks folding and buyers being foreclosed on at a rate that hasn't been seen, quite possibly, ever. But,do I think mortgage fraud or sub-prime loans are the reason?
You see, I work with a lot of foreclosures, and the reasons I see for people going in to foreclosure are death,divorce, … (8 comments)
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banks: Getting a bank to cooperate with a short sale - 08/16/07 06:51 PM
First of all, what is a short sale? If you are behind on your payments, a short sale is where the bank is willing totake less than you owe, so you can avoid going into foreclosure. One of the problems with a short sale is gettingthe bank to say yes to … (7 comments)
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banks: More Mortgage Company Woes.... - 08/16/07 10:48 AM
It seems as of late; everyday I hear about more "gloom and doom" for the mortgage industry. Today stories about Countrywide having issues is driving the stock market down further.
I hear lenders and brokers say "Don't worry we are fine"; "We can still write loans"; "We are just reorganizing". While … (7 comments)
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banks: Changes in the Mortgage Business : Choose a Mortgage - The Right One - 08/14/07 12:07 PM
So many types of mortgages - which is the best one?
Well there is no such thing as the "the best one" - The question is "Which is the RIGHT one for you in your current circumstances?"
This post could go on for pages. Lenders have so many programs out there, but let me just hit on … (1 comments)
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banks: The One That Got Away - 08/11/07 01:50 PM
If you are a buyer, that is looking for a home
Here is some advice for you - find out about your loan
Mortgages are changing, I'm sure you've read the news
If you are not pre-qualified, you have a lot to lose
You may have been pre-qualified a few short weeks ago
But things have … (1 comments)
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banks: Stock market jitters - 08/10/07 08:54 AM
Thursday was another dark day for the stock markets. Things are likely to get worse as the spreading credit crisis encompasses markets all around the world. Thursday was one of the year's worst days on Wall Street. The Dow average suffered its second worst session of the year. Overseas investors followed, … (0 comments)
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banks: Greed, for lack of a better word. - 08/09/07 07:21 PM
Gordon Gekko, in the movie Wall Street, opines that "Greed captures the essence of the evolutionary spirit." If word coming out of the banking industry these days is any indication, we've been evolving like rabbits lately. At meeting after meeting around the country, bankers and mortgage lenders are gathering to determine … (0 comments)
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banks: Second Life - Money Trouble - Virtual Foreclosures? - 08/08/07 09:38 PM
Earlier in the year, Coldwell Banker (follow link below to story) decided to set up shop in the virtual land of Second Life. I thought that was pretty clever, going against the grain of the dinosauristic realistic "presence" of business as usual. (EvenI joined Second Life for fun, I didn't get far. I haven't even built my … (4 comments)
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banks: Negotiating with Banks - 08/07/07 12:34 PM
As an investor myself, I have a methodical process of analyzing data. I will never suggest buying something I would not buy myself. I want to earn the future business, as well as the referral of friends and family.
Here is a juicy tidbit... did you know it is public record … (0 comments)
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banks: Know your real estate - 08/03/07 05:54 PM
Making a difference in people's lives is the most rewarding feeling any realtor can ever feel. You hear the stories of how agents feel when they put first time homeowners into their first homes ( that feeling never gets old) and maybe the stories of a divorced parent who had just … (1 comments)
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banks: The Dead Body On The Wall! - 08/02/07 07:58 PM
I recently wrote a post on my personal blog, feel free to check it out. It was based on a recent BPO interior inspection. I'd love to hear your funny/memorable BPO stories!
www.ramblingrealtor.com
… (6 comments)
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banks: Hey Banks-I Don't Feel Sorry For You! - 08/02/07 10:23 AM
Time to vent. Southeast Michigan, along with most of the rest of the United States, is currently experiencing a brutal buyer's market. In many areas, prices have dropped in the last year by 40% to 50%. One of the main reasons for this is that home lenders had been lending up … (8 comments)
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banks: BPOS - 07/31/07 08:30 AM
About 4 months ago I was made aware of what a BPO is, how to do one, where to do them, etc. I have been doing BPOs since. Who knows how many. I am aware of most of the BPO companies, I think, but I am writing to find out if … (11 comments)
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banks: Lino Lakes MN Banks, New Home Owner Resources in Minnesota 55038 55014 55110 55126 - 07/29/07 01:23 AM
It is a great time to involved in real estate! For more information about my services,guarantees, or how I can help you find your next home, sell your home, buy a businessor investment property. Just call me today at 763-548-1418!To view my interactive on-line real estate magazine with listings, touch … (0 comments)
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banks: Bank Financing In Northern Maine. Where Do You Turn In Aroostook County? - 07/25/07 10:30 PM
For starters, in Houlton Maine there are five local banks and a credit union. Start with these local banks first as they know the turf, get better turn around from appraisers and attorneys and save you tons of time. The local banks are Machias Savings Bank Katahdin Trust First Citizens Bank TD … (0 comments)
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banks: Expect higher prices, interest rates and taxes to cool the housing market in 2008 - 07/25/07 07:15 AM
Expect higher prices, interest rates and taxes to cool the housing ... <- read moreRecord year-to-date sales of existing homes in June, along with double-digit increases in house prices, reflect a still-very-hot Canadian housing market as we reach the midway point in 2007. According to the Canadian Real Estate Association (CREA), … (0 comments)
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banks: Buy a foreclosure and save thousands - 07/20/07 10:14 PM
Buyers have been really talking about the foreclosures lately. With the 100% fincing that we saw in the recent past has made many of the Foreclosures a bad deal. They are sometimes actually priced above market value with all the fees and penalties that the bank has tacked on. If the … (2 comments)
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banks: Bankers trying to earn women's business - 07/19/07 09:11 PM
Good news for business women with entrepreneurial aspirations!
I found this article in our local newspaper last weekend, and wanted to share some of it with savvy business women, and the men who know them. And as a Realtor, I thought it was useful information to share with my clients.
According … (5 comments)
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banks: Ontario market continues to be "One Hot Summer" - 07/18/07 11:58 AM
TORONTO, July 18 /CNW/ - July has started swiftly, with 3,947 sales to date, TREB President Donald Bentley announced today. This mid-month total is up 21 per cent over last July's 3,251 sales.
"While it is too early to speak of a July record (currently the record is 8,084 sales recorded in … (0 comments)
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banks: TransUnion report, the impact of your credit score on the true cost of your mortgage - 07/18/07 10:16 AM
Personally I think it is just as much an issue of lack of education on the part of the client's Lender as it is lack of knowledge on the part of the respondents. Regardless the "price matrix" as a result of your Credit Score can cost the YOU thousands of dollars in extra … (1 comments)
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banks: More on Toronto's tax (NOT) & cottage prices go through the roof - 07/18/07 08:12 AM
Miller's tax push fails by a single voteGlobe and Mail - CanadaDespite the dire warnings of possible service cuts and tax hikes, Mr. Ashton said last night the deferral was necessary to get the Toronto Real Estate Board ...
Cottages prices going through the roofCanoe.ca - CanadaThe average price for a piece … (2 comments)
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banks: What happened to Toronto's proposed 100% increase the Land Transfer Tax? - 07/17/07 07:54 AM
Tax attack launched <-click here to read moreToronto Sun - CanadaPalmer noted a small number of people -- those "trying to achieve the Canadian dream" -- will bear the brunt of the "unfair tax." For every real-estate ...
Two new taxes vital for Toronto <-click here to read moreToronto Star - Ontario, … (0 comments)
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banks: 3 reports on the health of the Canadian Real Estate Market - 07/13/07 08:15 AM
Canadian Housing Market Gathers Momentum As US Market SlumpsMoney Morning - USARoyal LePage Real Estate said in its quarterly report that the average Canadian house price is expected to rise by 9.5% to reach $286775 by the end of this ...
June a record month for Canadian home buyingToronto Star - Ontario, … (1 comments)
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banks: FORECLOSURES ARE DROPPING! - 07/13/07 01:45 AM
After 30 months of steadily-increasing foreclosure numbers, we finally dipped as a nation. Is this reason to celebrate? Hardly. You see there still resides a number somewhere between $600M and $1B dollars worth of loans that are anticipating a rate increase when the adjustable rate mortgages on these loans do what's … (3 comments)
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banks: 10 Options A Homeowner Can Choose From To Get Out of Foreclosure - 07/11/07 12:39 PM
It is difficult enough for a homeowner to deal with the typical causes of a foreclosure, (i.e. divorce, job loss, chronic illness), these circumstances alone are often overwhelming. In spite of this, a homeowner should try to find the time to muster the energy to begin to evaluate the options … (0 comments)
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banks: Bank raises rate by 1/4 percentage point to 4 1/2 per cent - 07/10/07 10:42 AM
Bank of Canada raises overnight rate target by 1/4 percentage point to 4 1/2 per cent resulting in all major chartered Bank raising their Prime Rates to 6.25%
OTTAWA - The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 4 1/2 … (0 comments)
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banks: Lenders Practices and Consumer Awareness - 06/30/07 04:05 PM
Over the last several years Arizona has had incredible gains in appreciation. So many people and investors thought 48% appreciation would continue forever. With the rate we were headed no one moving to Arizona would be able to afford a home. Arizona is home to mainly service industries... so who can … (0 comments)
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banks: Lenders Practices and Consumer Awareness - 06/30/07 04:05 PM
Over the last several years Arizona has had incredible gains in appreciation. So many people and investors thought 48% appreciation would continue forever. With the rate we were headed no one moving to Arizona would be able to afford a home. Arizona is home to mainly service industries... so who can … (0 comments)
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banks: Lenders Practices and Consumer Awareness - 06/30/07 04:04 PM
Over the last several years Arizona has had incredible gains in appreciation. So many people and investors thought 48% appreciation would continue forever. With the rate we were headed no one moving to Arizona would be able to afford a home. Arizona is home to mainly service industries... so who can … (0 comments)
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banks: Lenders Practices and Consumer Awareness - 06/30/07 04:01 PM
Over the last several years Arizona has had incredible gains in appreciation. So many people and investors thought 48% appreciation would continue forever. With the rate we were headed no one moving to Arizona would be able to afford a home. Arizona is home to mainly service industries... so who can … (4 comments)
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banks: Happy Canada Day! - 06/29/07 09:27 AM
The Maple Leaf Forever!
It was over 40 years ago, in 1965, that Canada's distinctive maple leaf flag flew for the first time. Then, as now, the flag had its supporters and detractors. But few realized what a powerful and positive symbol our Canadian flag would become.
Though we endlessly debate our … (3 comments)
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banks: Toronto REALTORS® Tell City that 100% Land Transfer Tax Increase is Unfair - 06/27/07 04:49 PM
TORONTO, June 27 /CNW/ - The Toronto Real Estate Board has told the City of Toronto that its proposal to charge a second land transfer tax treats home buyers unfairly. TREB's comments were made in a formal presentation to the City's Executive Committee earlier this week.If the City moves forward with … (2 comments)
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banks: Ontario housing markets defy industry expectations....push sales and prices to new heights says RE/MAX - 06/25/07 10:43 AM
Transmitted by CNW Group on : June 21, 2007 06:00
MISSISSAUGA, ON, June 21 /CNW/ - Despite concerns over a higher Canadian dollar and its impact on the province's manufacturing sector, housing markets across Ontario continue to perform above and beyond industry expectations, according to a report released today by RE/MAX Ontario-Atlantic Canada.Stronger than … (0 comments)
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banks: Insist they need a REALTOR® but when it comes to...... - 06/22/07 07:10 AM
I have always operated my business on one simple premise. Give the client as much credible information as possible, so that they can make the best educated decision, at the time in which they have to make it.
Regardless of recent minor fluctuations, we are still at historically low mortgage rates even at the current discounted rates … (3 comments)
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banks: An Outlook for U.S. & Canadian Interest Rates to 2020 - 06/21/07 10:09 AM
TD Bank Financial Group has just released a TD Economics Special ReportTHE SHAPE OF YIELDS TO COME: AN OUTLOOK FOR U.S. AND CANADIAN INTEREST RATES TO 2020Highlights include:Financial markets are currently fixated on the recent rise in bond yields, but U.S. rates have....Looking ahead, interest rates will fluctuate over business cycles … (0 comments)
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banks: Big Banking Laws Take Serious Advantage Of Consumers - 06/21/07 09:42 AM
Check 21. It's all you hear about in financial circles. As of October 28th, 2004 new laws went into effect that have changed the way you write checks and worse. They will further limit your rights and grant more to those wonderful institutions that hold our dough: Yep the underprivileged banks.
Here's the … (3 comments)
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banks: Home resales up 24 per cent in first half of June - 06/20/07 08:08 AM
TORONTO, June 19 /CNW/ - During the first fifteen days of June, resale home transactions jumped 24 per cent compared to the same time frame a year ago, Toronto Real Estate Board President Dorothy Mason announced today.
The first half of the month yielded a remarkable 5,074 sales, an increase of … (1 comments)
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banks: On average, households spent more than $11,000 on renovations - 06/18/07 03:08 PM
OTTAWA, June 14 /CNW Telbec/ - Approximately 1.5 million households in 10 major Canadian centres surveyed(1) indicated they completed renovations last year, costing an average of more than $11,000, according to the new Renovation and Home Purchase Survey(2) released today by Canada Mortgage and Housing Corporation (CMHC).
"More than $17.3 billion was … (1 comments)
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banks: About Central Point Oregon - 06/12/07 07:15 PM
City Facts:Founded in 1889Population: 16,650Elevation: 1,282Precipitation:Rainfall - 20"Snow - 2"Temperature:Summer - 80 to 90 degrees F Winter - 30 to 40 degrees FCommerce: Businesses - 300Banks - 5Public Transportation:RVTDSchools:Crater High SchoolScenic Middle SchoolCentral Point ElementaryJewell ElementaryMae Richardson ElementaryHospitals:Rogue Valley Medical CenterProvidence Medford Medical CenterWater Information:Medford Water CommissionCentral Point is one of the fastest … (0 comments)
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banks: A Gentleman offers you $11,000 for your medium coffee - 06/12/07 06:21 AM
Just imagine - as you're going through your favourite coffee drive-thru this week - that a well-dressed gentleman stops and offers you $11,000 for your medium double double. Who would hesitate? We'd take the cash. It's not so far-fetched. In fact, if you take that coffee budget and apply it to … (3 comments)
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banks: Understanding the Pros and Cons of the Short Sale - 06/11/07 02:30 PM
Homeowners facing foreclosure in California have approximately 120 days from the Notice of Default (about 4 months) in order to resolve their outstanding mortgage debt. When a homeowner finds themselves in this situation, the most proactive step a homeowner can do is to act in a timely manner to get … (0 comments)
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banks: Foreclosure – Sorting Through the Good, the Bad and the Ugly - 06/11/07 10:47 AM
What do Clint Eastwood and a homeowner in foreclosure have in common? A homeowner needs to have the same grit and tough determination as Mr. Eastwood to sort between the “good guys” and the “bad guys” even though their circumstances might indicate otherwise.
“Let the Buyer Beware” has been … (0 comments)
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banks: Foreclosures- The Flip Side of Easy Lending Practices - 06/08/07 04:09 PM
For many homeowners who are not watching real estate market trends on a daily or weekly basis, the barrage of articles regarding the increase of foreclosures doesn’t seem to make any logical sense. What many of these homeowners were not aware of was the lending industry’s trend in relaxing the … (0 comments)
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banks: FDIC and homeowners join the mortgage debate - 06/08/07 04:01 PM
Originally posted on HomeFinancingNews.com
The FDIC has become the latest government entity to join the subprime mortgage debate. This week Chairwoman Sheila Bair advised Wall Street to take a more flexible approach with homeowners who are facing foreclosure.
Subprime mortgages are of particular concern to the FDIC. Because they are originated … (1 comments)
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banks: Foreclosure- Why Lenders Are Reaching Out To Assist Struggling Homeowners - 06/08/07 08:03 AM
As home foreclosures begin to mount throughout the country, mortgage companies are becoming increasingly proactive by sending letters, making phone calls and in some cases even knocking on doors to let struggling homeowners know : They'd rather modify a loan than foreclose on the home.
According to an Associated Press … (0 comments)
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banks: What is The Foreclosure Process in California? - 06/08/07 08:02 AM
The California home-buying process usually involves the use of the deed of trust, which by its legal definition involves three parties; the trustor (borrower), the beneficiary (lender), and the trustee (neutral third party receiving the right to foreclose). The deed of trust usually includes a "power of sale" clause that … (1 comments)
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banks: Financial Documents A Homeowner Needs For A Successful Foreclosure Workout - 06/07/07 04:02 PM
Once a homeowner in foreclosure begins working with his lender, he or she will be asked for several financial documents in order to assess the homeowner’s current situation, what was the cause of the default and what type of workout can be accomplished. The reason a homeowner needs to provide … (1 comments)
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banks: Buyer Beware! 3 Foreclosure Scams and How to Spot Them - 06/07/07 12:01 PM
If at any time the adage of “Let the buyer beware” were applicable, it would certainly be when a homeowner is experiencing foreclosure. Distressed homeowners undergoing foreclosure are often approached by less than ethical business people (lenders, financial advisor and/or realtors) that are more interested in their own financial gain … (1 comments)
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banks: Foreclosure- When Ignorance Is Not Bliss - 06/07/07 11:49 AM
We’ve all heard the saying “ignorance is bliss”; but purchasing a house or condominium with this attitude may be until the collector starts sending a homeowner those inevitable letters and they receive phone call after persistent phone call from their loan servicer regarding their late payments. While most people associate … (0 comments)
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banks: Get Ready...Foreclosure Tsunami Predicted by New Study - 06/07/07 10:58 AM
While various real estate market prognosticators have been projecting their opinions on what the coming foreclosure market will be and everyone needs to weigh in on the debate, the conversation is taking a new turn as Cristopher L. Cagan, director of research and analytics at First American CoreLogic Inc. – … (0 comments)
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banks: Facing Foreclosure? Benefits of Maintaining a Positive Attitude During Tough Times - 06/07/07 08:00 AM
It should be obvious to most people that any homeowner who is undergoing foreclosure didn’t want to be there! While most people can identify the root causes of foreclosure as financial hardships caused by loss of a job, accident, injury, chronic illness or divorce, these added pressures and a negative … (0 comments)
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banks: How to Save Your Home From Foreclosure - 06/07/07 12:09 AM
The great American dream of homeownership is what many in the United States diligently strive after. While homeownership brings a host of benefits, no one will argue that you take on an equal amount of responsibilities when you purchase your home. In the current real estate market, becoming a homeowner … (2 comments)
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banks: Rental Vacancy Rates are at Historically High Levels - 06/06/07 10:29 AM
While the trend in rental apartment vacancy rates has plateaued in recent years, vacancy rates are at historically high levels thanks to low monthly ownership carrying costs, high apartment completions and a loss of migrants to urban centers in western Canada according to Ted Tsiakopoulos, CMHC's Ontario Regional Economist.
Read the rest … (0 comments)
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banks: H. R. 698 passes overwhelmingly in the Senate - 05/25/07 09:33 AM
Industrial Loan Company Legislation:
H.R. 698 passed in the House. This was very im portant legislation that goes hand in hand with HR 111 and for Realtors this is a positive step forward in keeping banking and commerce apart as required by law.
H.R. 698, the bill to close the loophole that currently … (0 comments)
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banks: Why REO Managers should use the Auction Method to Liquidate Properties - 05/24/07 09:23 PM
Frederick, MD. - Advantage Real Estate Auction Sales, LLC. a local real estate auction firm based in Maryland is pleased to announce its involvement with local Loss Mitigation, and REO asset managers to assist them with liquidating under-productive inventory.
Our full service marketing team understands the needs of REO managers. Their portfolios are filled with … (0 comments)
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banks: Why REO Managers should use the Auction Method to Liquidate Properties - 05/23/07 09:11 AM
Baltimore, MD. - Advantage Real Estate Auction Sales, LLC. a local real estate auction firm based in Maryland is pleased to announce its involvement with local Loss Mitigation, and REO asset managers to assist them with liquidating under-productive inventory.
Our full service marketing team understands the needs of REO managers. Their portfolios are filled with … (1 comments)
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banks: National Policy Against Mixing Banking and Commerce - 05/22/07 04:52 PM
We need to make our voices heard. You need to speak with your State Senators and insist that they sign Senate Bill 413. Contact your congressmen to sign onto HR111 in the House.
Congress established a national policy against mixing banking and commerce. Allowing banks to enetr the real estate brokerage industry … (1 comments)
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banks: THE 9 MOST DEADLY FINANCING MISTAKES TO AVOID Part 6 of 9 - 05/21/07 02:33 PM
I recently received this from a friend of mine that is a lender. I thought you might find it useful and informative. I'll break it up into nine sections, so please check back in a few days for the next part. If you missed the previous parts please read them as well. I think you … (3 comments)
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banks: One in four Canadians aim to buy a recreational property - 05/17/07 06:32 AM
The un-official start to the cottage season is here, and as Canadians look for ways to make the most of their summer, many are looking to the country's hot recreational property market to maximize their seasonal enjoyment. And, even as prices continue to rise and more people turn to a mortgage … (3 comments)
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banks: The Bank DOES want your house - 05/14/07 11:03 AM
Before you jump on the foreclosure bandwagon and into the Short Sale frying pan, there a few things you need to know. A short sale means the Seller walks away with nothing. In some cases repairs may be necessary. It is an "As-Is". The common opinion of late is that banks do not … (1 comments)
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banks: Short Sale Country - 05/09/07 10:26 AM
This is Tim Courtney coming to you from Michigan, knee deep in short sales. It's a way of life here and it's funny that some banks still won't allow a short sale. For those of you who don't know what a short sale is...here is an example:
Homeowner owes: $200,000 to the … (4 comments)
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banks: Credit is of the essence - 05/09/07 12:20 AM
In the short time that I've been in the mortgage industry I have seen many changes, but one thing that I have learned is that price always follows demand no matter the situation. One thing that I recall when I started was how credit clean up was almost perceived as … (1 comments)
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banks: Bandaging over the bandages - 05/08/07 06:56 PM
Bandaging over the bandages
When a realtor called on Monday and said, "We have an emergency," I knew I should have followed my gut instinct and declined his referral. Instead, I took a quick sip of my coffee and hoped that the realtor was exaggerating. Bad news. The coffee was … (1 comments)
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banks: Don't Be Just Another Fish In The Sea - 05/08/07 11:08 AM
As one of many loan officer in Bellingham, I need to distinguish myself from competing mortgage companies and banks offering home loans.
One way is the wonderful ActiveRain Web site! I've had two prospects contact me after discovering me on the ActiveRain site!
Customer service is a key component these days, … (2 comments)
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banks: The Gov't is Keeping us on our Toes - 05/07/07 08:21 AM
The following is a clipping from a much longer article that can be found at http://www.chicagotribune.com/business/chi-070504mole,1,5235800.story?track=rss. As a loan officer, I think it's great the government is out there, watching us, and making sure that the "snakes" are caught. They're watching out for the consumer and eliminating some of my competition. Which, … (3 comments)
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banks: THE 9 MOST DEADLY FINANCING MISTAKES TO AVOID Part 2 of 9 - 05/03/07 12:41 PM
I recently received this from a friend of mine that is a lender. I thought you might find it useful and informative. I'll break it up into nine sections, so please check back in a few days for the next part. If you missed the previous parts please read them as well. I think … (0 comments)
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banks: THE 9 MOST DEADLY FINANCING MISTAKES TO AVOID Part 1 of 9 - 05/01/07 11:58 AM
I recently received this from a friend of mine that is a lender. I thought you might find it useful and informative. I'll break it up into nine sections, so please check back in a few days for the next part. I apologize I'm not sure where it came from originally, … (4 comments)
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banks: LaSalle & ABN being sold - 04/23/07 10:07 AM
Another mega banking merger is in the works. ABN AMRO is selling out to Barclay's, a British Bank, to create the Fifth larges banking institution in the world. As part of the deal, ABN is going to sell it's LaSalle Bank to Bank of America.
While usually a merger is a good … (4 comments)
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banks: Stealing the home from under you: the growing problem of title fraud - 04/13/07 04:06 PM
Imagine this. A Canadian homeowner - a successful professional with a lovely home in a nice neighbourhood - arrives home after work one day to find a "For Sale" sign on his lawn. Imagining that it may be a practical joke, he asks his wife if she's unhappy with the house! … (1 comments)
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banks: REO, Servicers & Auctions - 04/12/07 06:54 PM
Ladies and Gentlemen,
There is another first in my life today. The third party loan servicers are looking to auctions to sell REO property for the lenders they represent.
This afternoon I received a call from a very nice man in Orlando who received an email from the president of his company. The … (4 comments)
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banks: St. Louis Mortgage Mortgage Professor Teaches Mortgage Banking 101 - 04/07/07 07:06 PM
Mortgage Broker Vs Mortgage Banker Vs Bank. Which should you use for your real estate financing? Is one better than another?
The answer to the first question above, "Which should you use for your real estate financing" is, "It depends!" The answer to the second question, Is one better than the other?, … (6 comments)
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banks: In every child's first drawing of a house, what do you see? - 04/05/07 09:25 AM
A modest home, a front path lined with flowers, smoke coming from the chimney, and yes -- a tree. We all have our favourites - trees to hold a swing, to provide shade, to fill a view, to freshen the air, or just to send our eyes skyward.
Trees are embedded in … (4 comments)
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banks: Talking to the Banks - 03/31/07 03:12 AM
Today I talked to a bank about a client giving a property back-----"deed in lieu of foreclosure" ---only to learn the property MUST be listed by a Realtor for three months before the lender will accept the deed! We have had the property listed, although not for three months, but even … (1 comments)
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banks: Is It Really So Bad....? - 03/28/07 09:20 PM
The media and our industry have been crazed with news of the subprime market, in its disasterous state, and how that very state may lure our very economy into a downslide of Apocalyptic proportions. I'll try to be as diplomatic as possible. We, at times, are a society of drama queens....waiting … (15 comments)
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banks: Bankers, Auctioneers & Buyers Agents, Oh My...... - 03/25/07 09:17 AM
On Friday morning I had a meeting with one of my bank clients. We scheduled about an hour for our get together, but after an hour and a half we still didn't get through all of it.
I am currently working on 9 REO for this lender + I am working with … (7 comments)
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banks: Genworth Report Finds Renters Confident About Housing Market - 03/21/07 03:11 PM
TORONTO, March 8, 2007 - More than 1 million renters say they're confident in the Canadian housing market and plan to become homeowners, according to new data released by Genworth Financial Canada, a subsidiary of Genworth Financial, Inc. (NYSE:GNW).
The inaugural edition of Genworth's First-Time Homebuyer's Monitor reports:
83 per cent … (0 comments)
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banks: The reprocussions of EZ Money! - 03/19/07 01:46 PM
Here is the latest news just received this weekend.
Effective immediately, New Century Mortgage Corporation and Home123 Corporation are unable to continue the origination or funding of mortgage loans. No new loan applications are being accepted at this time.
Here is a brief list of the companies that have closed or scaled … (1 comments)
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banks: Strong housing market continues to fuel demand for flexible mortgage options - 03/16/07 06:17 AM
CNW / Canada News Wire - National home sales increased in almost every province during the month of January, fuelling continued demand for flexible mortgage options that make buying a home easier for Canadians. In an ongoing effort to meet the needs of today's mortgage consumer Mortgage Intelligence Inc., a GMAC … (0 comments)
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banks: 1164 County Road 6632 Banks, Alabama - 03/13/07 01:51 AM
2003 MOBILE HOME IS EXTREMELY CLEAN AND NICE! THIS PROPERTY COMES WITH A 2003 KABOTA TRACTOR AND A 2 ROW PLANTER, BUSH HOG, BOOM SPRAYER AND MORE. SURROUNDING 55 ACRES IS A DEER AND WILDLIFE HAVEN. 2 ALUM. SHOOTING HOUSES-SMLL CREEK ON LAND COOL OFF IN THE SUMMER IN … (1 comments)
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banks: 4189 County Road 6631 Banks, Alabama - 03/13/07 01:17 AM
WELL MAINTAINED 3/1 BRICK HOME WITH BEAUTIFUL HARDWOOD FLOORS THROUGHOUT. FRIEPLACE IN LIVING ROOM. VERY SPACIOUS BEDROOMS. PARTICAL FENCE IN BACK,Sitting pretty on 1.65 acres.
PRICED TO SELL at a mere $85,000.00
WILL NOT LAST LONG
Call Shannon Watson
Deep South Realty
334-372-3398
http://www.shannonland.net
… (0 comments)
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banks: Green or Seasoned - The CRE Competitive Leg Up! - 03/10/07 09:14 PM
Since this is my first post on Active Rain I will be first to admit to being Green, otherwise known as lacking experience in blogging. However, this is also an unashamed attempt to self promote my business at PropertyClubpPro.com. At ClubPro I maintain 3 blogs. 2 of them are WordPress and … (1 comments)
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banks: Where is the Great Deals? - 03/05/07 03:18 AM
Today everyone is looking for the best deal. Is the best deal a foreclosure that has been trashed before the owners moved or a realistically priced home that has been well cared for by the owners?
Often by the time the foreclosure gets to the bank, the bank's price isn't that different … (1 comments)
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banks: SENATE MOVES TO PROHIBIT BANKS FROM ENTERING REAL ESATE BROKERAGE - 02/21/07 10:56 AM
Pat Vredevoogd Combs, president of NAR, praised Senators Hillary Rodham Clinton and Senator Wayne Allard for introducing key legislation that NAR believes would ensure the nations real estate industry remains competitve. The Community Choice in Real Estate Act, S.413, introduced Friday, is cosponsored by senators on both sides of the aisle; … (4 comments)
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banks: Do Banks Really Want to Sell Their REO Homes? - 02/08/07 06:31 AM
Many buyers are looking for a deal. Georgia is third in the nation in foreclosures so you would think that banks would do their best to get their REO homes sold. You would also think that banks would demand the best services from real estate agents in order to maximize the amount they can … (46 comments)
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banks: Are Lenders starting to tighten the rope? - 02/05/07 08:03 PM
I just read an article that mentions one large bank in particular is getting rid of 100% financing and is doing some drastic changes. It makes sense as the lenders were making loans to those that probably shouldn't have had a home loan for the last 4-5 years or so. They could … (0 comments)
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banks: My Interview with Jillayne Schlicke of Ethical Lending Foundation - 01/28/07 12:10 PM
Jillayne and I go way back and recently have been reacquainted when we both became "ActiveContributors" on Rain City Guide. I have really enjoyed reading and responding to her blogs. I am also quite interested in her company, Ethical Lending Foundation, which is very timely for the mortgage industry in light … (2 comments)
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banks: DON'T BUY THE CAR...BUY THE HOUSE FIRST - 01/26/07 04:20 PM
… (1 comments)
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banks: Credit Unions, Banks and Mortgage Brokers...OH MY!!! - 01/04/07 03:56 PM
Recently I found myselfC drawn into a blog on Rain City Guide. The topic that got my attention is authored by Jillayne Schlicke titled "Hot or Not" which featured various tips for first time homebuyers from an USA Today article. The specific "hot" tip that forced me off of the sidelines … (4 comments)
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banks: What would happen if I ran my business like..... - 12/28/06 03:14 PM
Hello It always amazes me when I come in contact with companies that operate like what I just experienced.....
I have an offer in on a short sale at WAMU ( I represent the buyers). I have had this offer in for 2 months...yes thats TWO months and they have not responded … (2 comments)
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banks: The Bet - 11/14/06 07:27 AM
OK, I had to ask one more thing. Think about your answer to this also:
If we wagered your next 30 years on the odds of the die landing with your number up, and I gave you 6 numbers, would you take the bet?
Sounds easy, right?
(by the way, this is not a … (4 comments)
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banks: A Simple Die, But a Big Topic - 11/14/06 07:13 AM
Keep an eye on this spot over the next few days. I will post more. No gaurantees if this is this afternoon or Friday, but there are some things that need to be aired in a positive way. If you post to these comments, please keep personal attacks, industry attacks, and … (0 comments)
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banks: "No, we don't issue mortgage commitments........." - 10/16/06 12:21 PM
That is an answer that I got from a mortgage broker. Right after I got off the phone with his client (the buyer) who was screaming at one of my agents(selling agent) that the closing has not been scheduled - yet...
Ok, just so all are aware I live and work in a … (16 comments)
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banks: Short Sale 101 - 10/02/06 12:47 PM
With the market changing, we are seeing more and more short sales. Many of the current real estate professionals have never seen a market like this and have not had any experience with short sales. Here is a brief synopsis that I have developed from the experience I have with them. … (22 comments)
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banks: Duties. - 10/01/06 04:47 PM
I advised clients against waving the appraisal contingency when faced with mulitple offers during hot real estate market. I did this because the bank appraiser gives the true value of the property.
I never argued with the appraiser. I know many realtors did in order to close the deal. The facts were presented, and … (5 comments)
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banks: The Big Cats! - 09/25/06 04:50 PM
The big cats of the lending world have been making it harder over the years for the little fish in the industry. Why? Just watch one of those commercials that makes claims for mortgage products that most people don't even qualify for. And even if you did qualify for that particular … (0 comments)
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banks: Investing by Spreadsheet - 09/23/06 08:12 AM
Due to working with banks and attorneys a lot on their clients issues, I get involved in a lot of investment real estate.
What kills me is the amount of people that make investment decisions without using a mathematical calculation when making a buying decision.
Back in the day, I used to buy … (2 comments)
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banks: A Way to Meet New Clients - 09/01/06 12:13 PM
I am prepearing to leave my desk and head over to the local Bank of America branch, where they expect to have one of their busiest days of the year (payday, Labor Day, etc). The have granted us a table facing the lobby where we will be able to meet people, … (3 comments)
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