Real estate blog entries tagged with foreclosure by Tina Merritt - Virginia Beach Real Estate (Long and Foster Real Estate)

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foreclosure: Those Who Have Chosen to Walk Away from Home Mortgages - 09/25/09 09:27 AM

Via Liz Miller (Keller Williams Arizona Living Realty):
A new study looks are those who have chosen to walk away from home mortgages, and it has a few surprises.
For example: Who is more likely to walk away from a house and a mortgage -- a person with super-prime credit scores … (2 comments)

foreclosure: Do You Know Anyone Who is "Talkin' Walkin'"? - 01/12/09 08:29 PM

Aaron Auxier wrote a thought provoking post today entitled: "The FICO Forgivess Act of 2012. Principle reduction Bailouts for Homeowners. Someone better start paying attention".
Aaron's post discussed the "Talkin' Walkin'" going on in Las Vegas. Homeowners who can afford their mortgage payments, but are choosing to walk away from their … (14 comments)

foreclosure: Hampton Roads - NOT Your National Average - 11/20/08 07:11 AM

Virginia Beach and the Hampton Roads area is still faring better than the national average when it comes to real estate values and properties in forecloasure.
According to our REIN-MLS statistics, of the 14,153 residential homes currently on the market in Hampton Roads, 620 (or 4.38%) are foreclosures.If you single out … (1 comments)

foreclosure: "I Want to Do a Short Sale" Says the Seller - 10/05/08 12:12 PM

Wendy Rulnick makes some great points in this post. The drawbacks vs. benefits should be explored and analyzed fully before making a decision to pursue a short sale. I would also add: what is the average market time in your area? If it is greater than 90 days and the … (4 comments)

foreclosure: Short Sales - the Bank's Perspective - 09/25/08 10:32 AM

I've been reading some seemingly uninformed comments regarding short sales lately and thought I would share some insight. By no means do I consider myself to be an expert on short sales; nor do I have any desire to be. That being said, I reside in the same household with a … (74 comments)

foreclosure: The Bank Doesn't ALWAYS Decide to Foreclose! - 04/24/08 03:19 PM

I had a very interesting conversation yesterday with a bank manager at a very large bank. When our conversation turned to foreclosures, it was really interesting to hear the "bank perspective" on the current situation.
He told me that some states have a foreclosure "recission" period where the bank can decide they don't … (2 comments)

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