I read an article today about Homeowners fighting Homeowner Associations because of Homeowner Dues not being paid. It is an interesting article. In my area I have seen many Associations place liens on a property which have held up the sale of a property but I have not seen the HOA actually foreclose on the property as this article is talking about. Although, I know it is possible for them to do this and is probably happening here locally but definitely not to the extent it is apparently happening in the areas noted in this article. I have … (7 comments)
foreclosure: FICO Impact and Recovery
- 05/25/11 04:30 PM
The question is asked frequently regarding how much impact will a short sale, foreclosure, deed in lieu or bankruptcy have on my FICO score?
I checked out the FICO Banking Analytics Blog and found some very interesting information. FICO conducted a study of delinquencies regarding mortgages. In their study they looked at three different consumer profiles. All three profiles consisted of consumers who were paying as agreed on their mortgages.
Consumers with a 680 score . Consumers with a 720 score. Consumers with a 780 score.
The study then showed the impact on the credit … (22 comments)
foreclosure: LOST YOUR HOME? NO EXCUSE!!! (yeah, I said it)
- 09/06/10 08:16 AM
I came across this blog and just ripped my heart out. This is a must read and I truly hope that by posting this just one person will re-think their decision or indecision on this issue. I've run across this with cats many times.
I have been in real estate for over 20 years and virtually all of that time I have specialized in REO, foreclosures and distressed sales for banks and individuals. I have been in untold THOUSANDS of properties ranging from the most modest of mobile homes to the most lavish multi-million dollar mansions, and they all … (2 comments)
foreclosure: Is It A Dreaded Disease?
- 08/29/10 06:03 AM
The cute little red cabin sits perched on it's old post and pillar foundation. Her bones may be old but she sits proud overlooking the river that twists and turns about 30 to 40 yards from her covered back porch. The birds chirp, a squirrel scampers up a nearby tree. The sound of the river is calming. She shows her age but there is a quiet easy feeling that comes over one in her presence. She's been alone for over a year now. Long gone are the days of family get together picnics, horse shoe games and badminton nets set … (0 comments)
foreclosure: HAFA? HAMP? HORA? $%#!?
- 08/23/10 07:47 AM
Huh? If you're confused you are not alone. Keeping up with the keep your home from foreclosure programs that keep coming out is a daily chore! Every time someone asks me, "What do you know about this new program "they" are coming out with to help homeowners avoid foreclose?" I have to ask, which one? The new kids on the block would be from our favorite servicers' Chase and Bank of America, with the Assist to list program (Chase) and the High Performance Outreach Program or HPOP (Bank of America). After doing some research on the programs, both are their own … (0 comments)
We don't hear much in the news about what happens in life after foreclosure. But for many it is continued nights of unrest and concern. While going through the process homeowners are treated rudely and disrespected in many ways, yet many foreclosures are the result of some catostrophe that has taken place in the homeowners life. A death of a loved one, a major illness, unemployment or divorce. Add to this a difficult real estate market and you find these are common events that can lead to loss of a home. For many the problems have just … (0 comments)
foreclosure: My Husband Died Recently- Foreclosure?
- 10/09/09 02:08 PM
I recently received an email from a woman who lost her husband to Cancer. She asks; What is the best way to keep from foreclosure on my home? My spouse died from cancer and unfortunately I will receive no life insurance or pension. It looks impossible to keep up with my payments. My sweet sister has brought my payments up to date, but I don’t see how I can keep them up and she definitely can’t do any more, nor would I want her to. I feel overwhelmed with grief and then have this issue on top of everything. I need … (9 comments)
The word in the wind is that there will be a Tsunami of bank owned homes coming on the market. It's not hard to believe when you look at the number of foreclosures happening each month. While out previewing homes in the Everett area a week ago for a client I am working for; we came across lots of short sales. Being very familiar with the short sale market it's pretty reasonable to assume many of those short sales will be foreclosed on if they haven't already. The Client put an offer on one, now we wait... … (2 comments)
foreclosure: Washington State Scammer Will Pay
- 05/09/09 01:11 PM
I for one am happy to see this. Day in and day out I sit in the living rooms of families and listen to their stories. Most times they are heart wrenching. This press release came out on the 7th of May. I had just come back from an appointment and had listened to a similar story. Someone had promised to save his home from foreclosure and the home owner forked over his last $2000 for the help. The home owner talked with his rescuer off and on for about two months and then he wasn't able to get the rescuer … (8 comments)
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