Beth Brace's (bbrace) Blog

Key Points of the Bank of America Announces Loan Balance Reduction Program: The loan reduction program is invitation only. That means that you can not ask for it, they will tell you if you are invited to get relief. If you got your loan from Bank of America, don’t expect any help. This program is...

From Crain’s: Bank of America has filed a $40-million foreclosure lawsuit on a 225-unit River North condominium project in what could be a preview for other slow-selling downtown high-rises. The developer of the 38-story Silver Tower didn’t pay back B of A’s loan by its Dec. 29 due date, accordin...

J.P. Morgan Chase is reportedly projecting ahead into the not too distant future and has concluded that bank-owned sales “as a share of total home sales will remain at current or even higher levels three years from now…” reports the Wall Street Journal. This is not news to any of us agents. The m...

The inclusion of Citi Property Investors to Apollo’s portfolio will more than triple the private equity firm’s real estate assets, the agency said. City Property Investors’ portfolio includes 65 investments in 26 countries with a net asset value of $3.5 billion, according to the agency. Apollo s...

This is a very hard and upsetting situation. I have a customer who has listed her condo with me. Wonderful, we get an offer only to learn that the building is NOT qualified for FHA lending because units are rented instead of owner occupied. SO the buyer is turned down on the financing. Last week ...

When I read my letter from Warren Buffet about the real estate market and it turn around in 2011 from this mega star I am still not convinced. I hope that he is correct ut I feel the market is so flooded with inventory, and I read 2 million plus more foreclosures coming from the banks this year. ...

I can believe in flipping but in this market. I have been proven wrong. In Hinsdale this home was listed as a short sale  3/3/09 @ 750.000. Then it  was relisted on 8/6/09 for 308,500. CLosed on 9/18/09 for 308,500. The home was relisted in 11/7/09 for 685,000. the house is under contract @ 679,0...