Bank owned properties, short sales and foreclosures were common in the Coeur d'Alene real estate market just a few short years ago. Our property values have recovered and soared in recent years but we still see some of these distressed properties pop onto the market from time to time.
SHORT SALES The term short sale comes from the fact that the mortgage company will be shorted on the amount they are owed. They will agree to settle for less when the true market value of the property is less … (1 comments)
foreclosures: Robo-signing at foreclosure mills - it's a true HORROR STORY!
- 10/01/10 03:26 AM
Janna Rankin Scharf, GRI, CLHMS, SFR Have you heard the latest mind-blowing development in the mortgage meltdown crisis? It's NOT the plot in an upcoming Halloween horror movie, but it sure could be. It's a TRUE STORY! JPMorgan suspends 56,000 foreclosures over robo-signing controversy. Say WHAT? Amazing, but true. JPMorgan Chase has frozen foreclosures in about half the country due to a robo-signing paperwork fiasco. Up to 56,000 mortgages are affected. It seems that under deposition, an employee of JPMorgan Chase said their team signed off on about 18,000 foreclosures a month. Problem is, those documents were never reviewed. They were running … (8 comments)
foreclosures: In the news - Fed holds the deed
- 05/17/09 03:12 PM
The combination of a deep recession and a foundering housing market has left the government with more than 50,000 houses on the market, reports Brad Heath in USA TODAY. That's enough houses to fill the entire city of Miami! Heath quotes an adviser to the Housing Secretary, who makes the understatement of the week - "Obviously, this is not the best time to be a home seller." The government's situation parallels what thousands of homeowners are confronting: their houses are more difficult to sell, they sit vacant longer and their values have cratered as the real estate market collapsed. Since 2007, HUD has … (2 comments)
Many people think that 
;)
;)
;)
