Real estate blog entries tagged with foreclosure by Will Addo (Wells Fargo Home Mortgage)

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foreclosure: How to Buy a "fixer upper" - 09/06/08 11:41 PM

The definition of a fixer-upper is broad. It can be a house that simply needs "cosmetics" like fresh paint and updated fixtures - or a major renovation requiring foundation work and structural repairs. It's important that you assess your own abilities and interests before deciding to buy a fixer-upper. Some of … (3 comments)

foreclosure: How to finance renovations on a high end home - 02/22/08 09:49 PM

The Renovation Loan: This is a permanent mortgage that will allow you to purchase (or refinance) a home in need of renovation. With one application and one closing, you will have the money to renovate your home and make those improvements you need. We base the loan amount not … (0 comments)

foreclosure: Fed Mulling Subprime Escrow Mandate - 11/08/07 10:47 PM

The Federal Reserve Board is close to proposing that all subprimemortgages should have escrow accounts, according to a Fed governor whois working on updating the Home Ownership and Equity Protection Actregulations.
Hopefully this will slow down the current foreclosure rate.
Will
… (1 comments)

foreclosure: Very Important information - 11/01/07 01:47 PM

The HOUSE OF REPRESENTATIVES ENGROSSES H.R. 3648 SO THAT DEBTFORGIVENESS IN A FORECLOSURE OR 'SHORT SALE' WILL NOT BE CONSIDERED INCOME FORINCOME TAX PURPOSESNormally when a creditor forgives a debt or part of a debt througheither foreclosure or a "short sale" the debtor-borrower will receivean IRS form 1099 showing that amount … (1 comments)

foreclosure: Foreclosurers nearly double! - 10/18/07 12:45 AM

Foreclosure filings across the U.S. nearly doubled lastmonth compared with September 2006, as financially strappedhomeowners already behind on mortgage payments defaulted ontheir loans or came closer to losing their homes to foreclosure,a real estate information company said Thursday.A total of 223,538 foreclosure filings were reported inSeptember, up from 112,210 in the … (0 comments)

foreclosure: Renovation Loan - 10/15/07 06:47 AM

The Loan Process - Step by Step A primary component in the renovation process is the property. Forhomebuyers planning to buy a new property, renovation financing can actually expand their opportunities. Buyers may find that they are able to choose ahouse they never considered because they can now allow for the … (4 comments)

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