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Blog entries tagged with "forclosure":
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New Georgia Law Adds FairnessTo Foreclosure ProcessOn May 13, 2008 Governor Sonny Perdue signed into law Senate Bill 531. The bill increases the notice to a homeowner before a lender can foreclose and introduceselements of fairness to the foreclosure process.The law that has been on the books in Georgia since 1981 … (0 comments)
Looking to buy or sell a condo in Uptown or Minneapolis?? Here are some stats and numbers you may want to consider into making your decision about the approach you will take.
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Newsletter
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Dear Readers,
The title of this blog is a little redundant.... bank owned, REO and foreclosure generally mean the same thing. The bank bought the house back on the courthouse steps because the borrower defaulted. This is indeed a sad situation for the person who lost their homes, but can you … (6 comments)
Short Sales are out of control in Cape Coral and Fort Myers
I wanted to announce that I will be on Fort Wayne's WOWO AM 1190 on Monday morning 6/23 at 6:35am to talk about mortgage interest rates, short sale information and general mortgage related information specific to the Fort Wayne, Indiana market. Charlie Butcher, the morning talk show host, invited me to … (2 comments)
In real estate, what are "short sales" and who needs them?
Foreclosure Homes / Short Sale Homes Report
Cities of Decatur, Tucker, Stone Mountain, Lithonia, Duluth, Buford, Lawrenceville, Dacula, Grayson, Snellville, Loganville, Suwanee, Norcross, Winder, Atlanta , Lilburn and Greater Metro Atlanta
This list is updated daily Due to the nature of Foreclosure Homes and Short Sale Home, Buyers should act quickly … (0 comments)
In a market where there are so many homes for sale that are in poor condition such as Bank Repos and Pre-Foreclosure Sales, Mold is often lurking. We hear so much about Mold these days, especially "The Black Toxic Mold..." Mold in a home may cause serious illness, especially in small children … (5 comments)
I work in Southern California, in the Santa Clarita Valley. a large amount of the supply of available housing in our community are short sales and foreclosures (REO'S). Our office has been involved in numerous short sale and foreclosure (REO) transactions. Short sales are especially difficuult to negotiate to a successful conclusion. If … (0 comments)
A forgotten cost of the the new real estate market consisting of vacant short sales and foreclosures is the cost to the city in terms of caring for the property. The city of Norfolk says the number of properties it cares for is up to 325 from 160 a year ago. … (6 comments)
What a wonderful yet frustrating time to be a Buyer! There are more properties for sale than there are Buyers. Buyers are being inundated with information and much of it is conflicting. The result is a sense of confusion and frustration among Buyers ... "buy now"... but "the market might go … (3 comments)
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The more I research MERS and how they operate, the more I think this is a major problem waiting to take the whole banking industry down. With thousands of members, ranging from FannieMae to small banks, the effect that MERS problems will have will be far reaching.
It is slowly becoming mainstream. … (5 comments)
Bank Owned Home, Traverse City, 3 Bedroom 2 bath - 1400 Square Feet - 2 car attached Garage - 1//2 Acre Lot! SOLD AS IS! This property will require some plumbing work. Great deal in a great neighborhood.
Silver View #2 - Located South of 131 off Silver Pines. Give me … (5 comments)
Hope Now is a an initiative intended to help borrowers who may be facing default when their mortgage rate resets. By taking advantage the this initiative, borrowers who otherwise become default on their mortgage can avoid the possibility of facing foreclosure. The most desirable part of the initiative is an interest … (0 comments)
Payments too HIGH? Need HELP with your LOAN? Trying to Avoid Foreclosure? I can HELP...
Are you late on your mortgage payments? Is your loan set to adjust to a new payment soon? Is your ARM adjusting to the point that you cannot afford to your monthly payment? Are you currently … (0 comments)
Today The House approved a bill that will send states $15 billion to buy and fix up foreclosed properties. This bill would provide loans and grants to areas hit hardest by the housing crisis.Supporters of this bill are hopeful that this bill will prevent neighborhoods around foreclosed homes from sliding into … (0 comments)
WASHINGTON, D.C. - The FDIC is proposing that Congress authorize the Treasury Department to make loans to borrowers with unaffordable mortgages to pay down up to 20 percent of their principal. The repayment and financing costs for these Home Ownership Preservation (HOP) loans would be borne by mortgage investors and borrowers. … (1 comments)
Buyers in Buena Park, this is your opportunity to take advantage of the high rate of foreclosures in Orange County!
Redfin hits another lower my costs concept. It is now offering free foreclosure data. The company that is a pioneer in challenging the industry earnings structure by offering very low cost agent representation is moving into new fields and challenging the foreclosure sector.They are adding bank owned foreclosed properties and … (0 comments)
Welcome to my Blog!
After three long months of being away from Real Estate, I have made my return. With the market in a downward trend, I was able to take some time to address some health issues. Thankfully all is well now, and I am back in the flow of … (5 comments)
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Hi, new to blogging.I just want to express concern with gas prices. I recently stopped mt Forclosure clean up business, because GAS!! was to damn much I was spending $450.00 dollars a week cause I lived in Palm Beach County and drove To Broward everyday. After Paying employee's and minus cost..it … (4 comments)
An article I read from Realty Trac, one of the paid foreclosure web sites I do like. This article really got me thinking. I have to say we are in danger of this attitude!I got a phone call not too long ago from a potential client who wanted to sell his … (6 comments)
OK now that I have your attention. Why is it that all these people got into these homes and made payments and made good for themselves.Then, well we all know what happened after this.I would like to know President Bush? Feds? Lenders? Opera's Big Give? Extreme Home Makeover?Whoever???Who is willing to give these … (0 comments)
What exactly will $400,000 buy in today's housing market?
Originally posted on The Sugarloaf Real Estate Blog You've had your Big Bear Get A Way on the market for nine months now and the cabin isn't selling. You placed the cabin on the market, because you have an Adjustable Rate Mortgage and you knew that it was going to reset in 9 … (0 comments)
Too Many Homes on the Market / To Many Homes on the Market
In the past year there have been many people trying to get rich quick by praying on people in foreclosure or just on the brink of foreclosure. They play the role of someone who just wants to help out. Ultimately they take you to the cleaners. Here's one example:
Save the Dream This was posted on the www.Michigan.Gov site today . This law combined with the proposed federal changes could be the light at the end of the tunnel. Governor Granholm's "Save the Dream" Legislation Will Help Families Threatened by Mortgage Foreclosure Contact: Liz Boyd 517-335-6397 <!-- BODY --> … (0 comments)
Price Reduced on 4201 Bradley Avenue in Medallion Estates Medallion Estates, Orlando - Announcing a price reduction on 4201 Bradley Avenue, a 2,197 sq. ft., 3 bath, 4 bdrm single story. Now just $250,000 USD - . The owner said SELL! Bring all reasonable offers.This property is a short sale, if … (0 comments)
Today's Tip is about the Letter of Authorization..commonly referred to as the LOA,Before you can even begin the short sale process, you will need to be given written authority to do so by the homeowner / borrower. Without having this document you can not even begin your short sale process. Simply … (0 comments)
To Register Please Call Erik @ 239-405-4063! … (0 comments)
It seems recently that there is not a week that passes by that I do not hear of another freakin' scam ring out there taking advantage of homeowners that are going into or are in the default stage on their mortgage loan. This sickens me! No, these people are not stupid … (8 comments)
Banks Are Throwing Properties Out Like Trash...For PenniesForeclosure happens every day. A foreclosure boom at the levels we're seeing now happens once every 20 years. You can either sit there while the opportunity passes you by or wake up and take profit now while you can. With properties available at less … (0 comments)
Yes, the market is flooded with foreclosures and short sales. Having started real estate in a strong market, I find I need to learn more about weak market realities, and that certainly means foreclosures these days. 
I believe that the most important person to talk to if you are in financial trouble with a property is an educated REALTOR. Notice I use the qualifier educatedthe reality is that the vast majority of agents are not experienced in working with homeowners experiencing financial distress however those that are can … (3 comments)
It has been eventful past few Weeks to be in the mortgage business in Massachusetts. On Monday Suffolk and Norfolk Counties were moved from level 3 to level 4 soft market Status. Each and every lender is doing something different in regard to their max Loan Values. However most have gone … (0 comments)
Washington State Homestead Act House Bill 1805 
Without going into the gorey details of an HOA I belong to I am at odds with the fact that a community in which I live does not allow signage. Now I know what your thinking. We don't need signs not with our new 'paradigm" the internet. Yes, 80% of serious … (0 comments)
So, your house is in foreclosure... now what? Try to look at the situation without attaching your emotions. From a strictly business viewpoint, you can more successfully analyze which option might best suit your needs and desires and move toward resolving your financial difficulty. One very important thing to remember: time … (0 comments)
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I have a possible client going into foreclosure with a good possibility of doing a short sale. I know that they are a lot of mortgage reps and agents who have had more experience with this than I have, but I can't help asking this question. Why don't the mortgage companies … (7 comments)
HR 3609 - 5 Things You Need To Know About The Senate's mortgage Fix1) Proposes a revision to the U.S. Bankruptcy Code that would allow judges to lower interest rates and reduce the balance on troubled borrower's mortgages. 2) Mandates $200 million towards foreclosure-prevention counseling (Doubling current funding).3) Allows states to issue more … (2 comments)
There is no Wall Street In Hoboken There was a recent article in the NY Daily News by Peter Siris, the "Guerilla Investor" to which I take exception. In the interest of full disclosure I will tell you that I know Peter because many years ago, I worked for his wife. … (2 comments)
24-7 Real Estate, LLC is a leader in New Construction and Luxury real estate sales. 24-7 Real Estate has a mission to put forward a level of professionalism that is uncommon in the Real Estate industry. We are a team of experienced Pennsylvania REaltors who are committed to providing our clients with the highest level … (1 comments)
**Click Here To See The Original Post on WealthWithMortgage.com**I've been saying it for years now.. Mortgage companies are in business to collect interest income on their money, not to be property managers. The LAST thing they want to do is end up owning a bunch of property. Thanks to Morgan over … (1 comments)
It is amazing to me that the following question would be a "most commonly" asked question. Did these people even go to pre-licensure class? What are they learning there? I am so thankfull for the attorneys at McClelland & Anderson They do an awesome job for us Realtors They should publish a … (0 comments)
When you look at sports it always comes down to team work. It does not matter what sport it is, take nascar for example. All you see on the t.v. is the name of the individuals driving and then the winner. The driver understands that yes I won from a driving stand … (2 comments)
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When it comes down to really offering your clients a loan that is really designed to help them purchase commercial property the SBA 504 is truly one of a kind. This loan allows for a true 10% down payment. Some other huge advantages are you can roll in your closing cost … (0 comments)
Hey, DEFAULT is a bad situation but don't make it any worse for yourself. I talk with too many borrowers facing mortgage default. I am not an expert but I do try to steer them in the correct direction. Here are a few pointers to think about. HUD has put together … (3 comments)
if you have had any experience with short sales....when you finally had a successful closing, what was the final result in sales price?A. Was the final price at the market..?B. Just under the market..?C. Way under the market..? I have seen some incredible deals on national news that we are not seeing in … (3 comments)
With the rapid property value decrease since 2005, the increase in insurance and property tax, we find ourselves with more foreclosure than we've ever seen. One would think investers would be buying these houses at auction like crazy, but no they aren't buying anything, maybe 2 per auction. Two being alot, two … (0 comments)
Kevin McGrath
Many of you know that I come from an area in the country which statistically has more foreclosures than any other part. There are issues with banks and people trashing the homes and people vandalazing the homes for copper, but that is not the issue with this blog. This deals with … (17 comments)
Someone had asked me that question yesterday. My answer? All around you! There are alot of houses out there and still some are great deals. It is not about finding a house for $150,000. It is about finding a house for $150,000 in a neighborhood that sales are in the $200s. … (2 comments)
With the current real estate market this has been a popular question asked of me for the past half year or so. I want to issue a caveat before we go any further, these techniques will depend on the specific property and its unique situation. I recommend seeking the assistance of … (0 comments)
Are bank owned properties the best buy? Not in all cases. If your thinking of buying a bank owned property ask yourself this first:
Kentucky and Indiana realtors, investors and debtors facing foreclosure ask me from time to time how short sales work. Consider this a primer.
Foreclosure is never really over when it's over. It is like a Bad Divorce I have seen a bad divorce drag on for 20 years. Fighting ,bickering, more lawsuits... In forclosure ...Just because the mortgagee has gotten his collateral back and resold it, doesn't necessarily mean case closed. Some of the … (8 comments)
Do you find yourself falling behind on payments? Is your mortgage higher than the value of your home? Do you need to relocate due to job, promotion, or just can't afford California anymore? Are you experiencing health problems? Is the rate on your mortgage about to adjust up?