foreclosures: Differences Between A Short Sale And A Foreclosure - 02/05/19 04:24 PM
If you’re looking to get a non-traditional deal on a new home purchase, you may encounter either a short sale or a foreclosure. These two terms refer to sales that are not usual. As a homebuyer, it’s important to understand the differences between them and how each one might affect your buying experience.
What’s A Short Sale?
A short sale is a situation where the owner has a strong motivation to hurry up and sell their home. In so doing, they’re willing to sell for less than what they owe on the house. Homeowners have a variety of reasons why they might do … (0 comments)

foreclosures: 5 Creative Ways To Buy A Foreclosure - 11/15/18 08:15 AM
Buying a foreclosed home is easy, right? After all, they sell for pennies on the dollar, right? Well, that could be a false assumption. Buying a foreclosed property appears easy on TV, but in reality, it can be overwhelming. 
Foreclosure sales continue to decline in the market from 38.6 percent in 2011 to 14 percent in 2017 but ticking up a bit in 2018 according to Attom Data Solutions, a national property data company. As foreclosure sales drop, competition for these properties become stiffer and more complex. And as home prices increase in most cities, buyers often turn to foreclosures as affordable alternatives … (1 comments)

foreclosures: Foreclosure Rates Expected To Dip Below 12-Year Low - 10/10/18 12:34 PM
The record-setting pace of the U.S. economy continues to positively impact the housing market and home foreclosures now stand at an astonishing 12-year low.
Coming off a GDP growth rate of 4.1 percent and a historic bull stock market run, everyday Americans appear to be benefiting from one of, if not the strongest economies in decades. According to data compiled by CoreLogic, mortgage delinquency rates continue to improve and are already at the lowest levels in 12 years.
Building on last year’s national trend, foreclosures and mortgages more than 30 days past due declined to 4.2 percent in May. Other analytics show that … (1 comments)

foreclosures: Buying A Foreclosure: 5 Things To Know - 06/12/18 05:51 AM
Buying a property out of foreclosure can be a very smart move, financially. But it can also be complicated, expensive, and stressful.
Here are 5 things to keep in mind before you take a first step in that direction:
Cash Or Preapproval Required
Buying a house that has been returned to the lender through foreclosure means dealing with bureaucracy rather than with a motivated seller. Large lenders are notorious for taking their time to approve a contract, even if the offer is for the exact amount specified.
Then there’s the paperwork, which can seem endless. Most lenders require that prospective buyers have cash on hand, or … (1 comments)

foreclosures: Pros And Cons Of Buying A Foreclosure - 06/05/18 11:23 AM
When a homeowner stops making regular mortgage payments, the bank can foreclose on the property. This means that the bank takes possession of the property in an attempt to recover the debt the homeowner owes. In some cases, the bank may try to recover this debt by selling the property at auction. In other cases, the bank will simply list the foreclosed home for sale.
Choosing to purchase a foreclosed home has both advantages and disadvantages for the buyer. Weighing these advantages and disadvantages carefully is essential.
Pros of Buying a Foreclosure
When you decide to buy a foreclosure, you will be working with … (0 comments)

foreclosures: RealtyTrac Foreclosure Report Shows 28% Decrease From May 2012 - 06/18/13 12:31 AM
RealtyTrac Foreclosure Report Shows 28% Decrease From May 2012
 
Foreclosure actions increased by 2.0 percent in May from April's 75 month low point for foreclosure activity according to RealtyTrac's U.S. Foreclosure Market Report released June 11. However, the good news is that May 2013 foreclosure filings were still 28 percent below May 2012 filings.
RealtyTrac reports that approximately one in 885 homes were in some stage of foreclosure in May. This does not mean that 1 in 885 homes was lost to foreclosure, but it does indicate that documents related to some phase of foreclosure (Notice of Default, Notice of … (1 comments)

 
Joe Gonzalez, NMLS# 126036 (610) 739-6563 (CrossCountry Mortgage, LLC NMLS #3029) Rainmaker large

Joe Gonzalez

NMLS# 126036 (610) 739-6563

King of Prussia, PA

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CrossCountry Mortgage, LLC NMLS #3029

Address: 625 W. Ridge Pike, Building C, Suite 100, Conshohocken, PA, 19428

Office: 610.355.8039

Mobile: 610.739.6563

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