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Blog entries tagged with "defaults":
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Hi Everyone,
I know from a lot of my real estate clients that short sales can be a nightmare, especially since nobody can guarantee if the transaction will ever close. I had this forwarded to me from a real estate agent that has had some success with the tips here. I … (0 comments)
Everyone is talking about the bailouts and bills that are moving through Congress. They will spend our taxpayers money to rescue banks and lenders that made risky loans to unworthy borrowers. So why the big to-do? Banks that made bad loans should pay the price, and so should homeowners that got themselves … (37 comments)
Getting approved for a conforming home loan is now tougher than before. Again.As home loan defaults mount, government-sponsored financier Fannie Mae has imposed new guidelines on what it will lend and to whom, highlighting the need for a strong credit profile and a downpayment.In other words, Fannie Mae is outright declining … (0 comments)
Marketing your service
By Gustavo Farfan
Now that the weather is getting a little better and I decided to latch on to the Spring concept, I thought a little "outing" would be fun. A training ride.... This is part I of the REO training. How about us going on a REO (bank- owned property) tour. OK so its … (5 comments)
Bundling of loans into assets that were then hawked to investors is a major issue in this mortgage storm we are all feeling by now. 
Do you have a home loan through Countrywide? Have you fallen behind in your
mortgage payments? Do you have a subprime mortgage where your interest rate
is about to re-adjust? If so, Countrywide is expanding their efforts to help
homeowners regardless of their subprime loan (fixed rate or adjustable rate)
or … (4 comments)
What will you do Different? Well let's see. Along with record weather we have record interest rate cuts. Defaults, short sales and foreclosures are on the rise. Home prices have dropped from their lofty and wishful altitudes. In some parts of the country banks are unloading properties en masse. Investors are awakening from … (2 comments)
Private Mortgage Insurance (PMI) is an insurance policy paid to a lender in the event that a homeowner defaults on his home loan. These defaults are up 35 percent over last year, according to an industry group -- bad news for all homeowners requiring PMI with their mortgage. Much like home insurers … (0 comments)
Professional real estate investors know that buying foreclosure real estate is difficult, frustrating and at best a complete waste of time. That is, it can be all of those things to an unsavvy new investor straight out of a "Make Big Money In Foreclosure Real Estate" seminar. But for the experienced … (0 comments)
I was led to an online report about how the sub Prime market woes are just the tip of the iceberg. Even though bankers are claiming the worst is over, interesting things are afoot in the U.S. Court systems. In the Cleveland, OH Federal District Court, Deutsche Bank was denied kicking … (11 comments)
In a previous article, we addressed the changes in the local housing market. During the week, senior policy makers were busy addressing the current housing market’s woes before Congress. Reporting last week, in an online Reuters article “The top two U.S. economic policymakers told Congress on Thursday that allowing the … (0 comments)
Sept. 2007 Unusual Month or Moment of Relief from Foreclosure TurmoilBy Namneet DhaliwalOrange County Real EstateOctober 2, 2007It is the first time in last twelve months, that foreclosure curve for Orange County CA Real Estate had turned its direction. Although, it is premature to say if it is just an isolated … (0 comments)
Below is an email I received from Donna Robinson, TREA Director , who is a member of ActiveRain but does not post much. she has given me permission to quote her on her views and stance of the FHA expansion bill.She makes some excellent points . She caught my attention on this matter. … (1 comments)
Holy you-know-what. Everyone knows what happened to New Century and the problems they've caused for homeowners, employees and the entire real estate and mortgage lending market. They're not the single cause of the mortgage meltdown, but they certainly had their fair share of contributions.So now, the chief counsel in charge of … (1 comments)
I have been pondering on this topic for a while now and I think there are a few drastic but efficient steps the mortgage industry can take to ease or even solve the current state of the housing market and furthermore prevent future declines such as this one. 
As many people know, I have been a staunch advocate of CW for several reasons, not the least of which, competition is great for the real estate industry, as well as the economy. 
It's on everyone's mind. What is going on with this market. Those of us in the business see it on a daily basis... lender's shutting their doors, lender's cancelling loans left and right, programs disappearing or repricing to a point of no longer being usable. We see the news discussing the chaos … (3 comments)
Over the last year or so, we have seen alot of people having loan problems. Alot of these problems are due to subprime loans. These loans are available to help borrowers who do not qualify for the conventional loans, due to credit scores, problem with delinquencies, bankruptcy, etc...Usually these loans have … (5 comments)
The number of foreclosure filings was up 7% in March as Nevada reported the highest state foreclosure rate for the third month in a row with a 29% monthly increase from February, according to RealtyTrac.A total of 149,150 foreclosure filings were reported during the month, up 7% from February's revised total … (7 comments)
Hud homes are the result of FHA loan defaults. These foreclosed homes are sold by the Hud Department of the Government. These homes are sold by online bids. Owner Occupant Buyers bid first. If no bids are acceptable from Owner Occupants by a certain deadline, the bidding is opened to Investors. … (0 comments)
To see a list of the mortgage companies who have gone under because of the Sub Prime turmoil, go to www.mortgageimplode.com. You will see a lot of companies you never heard of but there are also some big hitters that have gone under. We'll see what happens in the near future! … (3 comments)
Dataquick has released the new figures of area defaults and the news isn't good. Defaulting mortgage rates have tripled since this time last year. Contra Costa was the worst hit county in the area. Up almost 223%! A Dataquick representative says: "We do feel that foreclosures will continue to rise for … (1 comments)
Non-profit groups and legislators are increasing efforts to help people facing foreclosure. Critics state the programs will do little to stop the trend of foreclosures sweeping the nation right now. On Wednesday, the Neighborhood Assistance Corporation of America (NACA), a nonprofit devoted to helping people who have been the victim … (4 comments)