the site engine: HUD "Partial Claim" May Help Your Past Customers Keep their Home!
- 05/22/08 02:19 AM
Have you seen one of your past customers in foreclosure trouble lately? I ran across this HUD program that may help some keep their home until they can get back on their feet. It is called a HUD Partial Claim. The HUD site says, "Under the Partial Claim option, a mortgagee will advance funds on behalf of a mortgagor in an amount necessary to reinstate a delinquent loan (not to exceed the equivalent of 12 months PITI). The mortgagor will execute a promissory note and subordinate mortgage payable to HUD. Currently, these promissory or "Partial Claim" notes assess no interest and … (3 comments)
the site engine: Pre-foreclosures on Cape Cod (Welfleet & Truro, MA)
- 05/15/08 02:57 AM
Welfleet & Truro Massachusetts are waaaaayyyy out on Cape Cod. From Falmouth, it can take over an hour to get there (the same time and distance to Boston from Falmouth.) The two towns have a total of only around 5,000 residential properties and well more than half of them are second homes. Welfleet & Truro are bounded by Provincetown and Orleans, the Atlantic Ocean, and Cape Cod Bay. More than half of the properties in Truro are second homes (60%+-). And, the same percentage of second homes exists in Welfleet. There are great beaches on The Atlantic Ocean and on Cape … (0 comments)
the site engine: Pre-foreclosures on Cape Cod (Chatham, MA)
- 05/13/08 01:49 AM
Chatham is in the Lower-Cape area of Cape Cod. It is bounded by Harwich and Orleans. Half of the properties in Chatham are second homes (50%+-). Chatham has beaches on both Nantucket Sound and on The Atlantic Ocean. Even with its high second home percentage, Chatham has very few of its homes in pre-foreclosure as of May 6, 2008 which is probably because Chatham has traditionally been a place of upperclass incomes and "older money" families' second homes. On a side note, the Lower Cape area is called the Lower Cape instead of the Outer Cape or Upper Cape because of … (0 comments)
the site engine: Pre-foreclosures on Cape Cod (Brewster, MA)
- 05/12/08 11:31 AM
Brewster, Massachusetts is one of the more quiet towns on Cape Cod. There are good beaches and lots of trees in Brewster, but I have always thought of Brewster as a town on the way to the National Seashore. Brewster has a few summer developments like Mashpee has New Seabury. Nickerson State Park is in Brewster and the beaches in Brewster are on the Cape Cod Bay side of the Cape. The Brewster properties made up only a small percentage of the just over 1900 properties in the pre-foreclosure stages on Cape Cod on May 6, 2008. About 40% of homes … (0 comments)
the site engine: Pre-foreclosures on Cape Cod (Bourne, MA)
- 05/12/08 03:14 AM
Bourne, Massachusetts is the "gateway" to Cape Cod. This term used to be the designation for Wareham, but since Route 495 ends at the Bourne Bridge, Bourne has taken on this designation. Bourne is also the entrance to the Sagamore Bridge, so it has both accesses to the Cape covered. Some of the areas of Bourne known to the locals and tourists are Sagamore, Bourne, Pocasset, Monument Beach, Otis, and Gray Gables. Gray Gables became popular when President Grover Cleveland used it as his summer place. The Cape Cod Canal runs through Bourne and is the reason there are two bridges to … (2 comments)
the site engine: Pre-foreclosures on Cape Cod (Provincetown, MA)
- 05/10/08 06:18 AM
When I did some research on pre-foreclosures in Cape Cod towns on May 6, 2008, P-Town was one of the Cap Cod towns that had only a few properties in pre-foreclosure. Only 1.3% of the 140,000(+-) homes on the Cape were at the stage of pre-foreclosure on that date. Most homes on the cape are owner occupied, but in Provincetown almost 60% of the 2400 residential properties are second homes. Most other communities on the Cape have less than half of their homes designated as second homes. Commercial properties are not included in the pre-foreclosure data I found. Provincetown, MA is … (3 comments)
the site engine: Are buyer agents liable?
- 04/09/08 07:52 AM
If a buyer agent has the buyer's interest in mind, does the buyer agent become liable if the buyer gets foreclosed on because of a declining market? As everyone points fingers in every direction but their own, clients of exclusive buyer agents are starting to consider the role their agent played in current real estate market problems. Did the buyer agent advise the client adequately enough about possible market turns? One of the new topics now circulating is how much agents knew about their "client" when they watched the closing occur on a property that the buyer could marginally afford. If the … (10 comments)
the site engine: Some Real Inconvenient Truths
- 04/07/08 04:27 AM
The Real Estate market is near it's bottom, and global warming has started cooling. But, both truths are inconvenient for mainstream US media. Real Estate prices have moved into ranges that many investors see as "the bottom", or at least close enough to start buying. And home owners are still moving from one house to another. In many areas where appreciation drove prices to historic highs, sale prices have returned to levels where rents will carry the debt on a property. Investors from every state are poised with cash, credit, and confidence that their next purchase will be a great, longer … (2 comments)
the site engine: Taxes Yesterday, Today, and Tomorrow
- 04/04/08 02:49 AM
The tax numbers below are interesting to me. In this business of real estate we play with numbers all the time. While the media says life under the current political leaders is terrible, the numbers make me look back in time, and scan the future for what to expect. The data comes from The Tax Foundation. There are quoted endorsements from prominent people, dare I say testimonials in webspeak, on the foundation's home page. There is an interesting menu link on its homepage that is for Presidential Candidate Tax Plan Comparison. Taxes under Clinton 1999 Taxes under Bush 2008Single making 30K - tax $8,400 … (4 comments)
the site engine: 5 Monkeys - Why Real Estate Agents Are Willing To Give Their Listings Away
- 03/21/08 09:58 AM
5 Monkeys - Why Real Estate Agents Are Willing To Give Their Listings Away." Here is an explanation of the why agents aren't more concerned with giving their listings away: Five monkeys were put in an enclosure with a ladder. Every time a monkey went up the ladder, scientists soaked the rest of the monkeys with cold water. After a while, every time a monkey went up the ladder, the others beat up the one on the ladder. After some time, no monkey dared to go up the ladder, regardless of the temptation. The scientists then decided to substitute one … (10 comments)
the site engine: Why don't other MLSs follow the actions of the NWMLS?
- 03/08/08 04:30 AM
I have been talking to agents and brokers all over the country over the last few months and I am amazed that no one knows about the NWMLS's decision to stop feeding their listings to sites like Rltr dot com. It may be that everyone is so busy in their market that they don't read what is happening in the industry. Or it could be that most "news" rss feeders are advertising driven and they don't want to bite their advertiser's hands. Or it could be that the managers and staff in the offices of the MLSs are not operating … (0 comments)
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Associate Broker Falmouth MA Cape Cod Heath Coker
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National/Local real estate topics, Cape Cod and the Internet. Cape Cod real estate company; and a national real estate web site REindex.com, The Site Engine® for other listing agents/brokers at no cost to them. I make a living listing and selling real estate on Cape Cod.
Have you seen one of your past customers in foreclosure trouble lately? I ran across this HUD program that may help some keep their home until they can get back on their feet. It is called a HUD Partial Claim. The HUD site says, "Under the Partial Claim option, a mortgagee will advance funds on behalf of a mortgagor in an amount necessary to reinstate a delinquent loan (not to exceed the equivalent of 12 months PITI). The mortgagor will execute a promissory note and subordinate mortgage payable to HUD. Currently, these promissory or "Partial Claim" notes assess no interest and … (3 comments)
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