reo: Avoiding Financial Street
- 11/19/11 07:19 AM
By asking the right questions, and knowing exactly what your needs are, you can find the right loan for you. There are certain approaches that you can take while mortgage shopping that can cost or save you money. It is still true that the better qualifications you have, the lower your interest rate will be. However, there are mortgages available for almost everyone; it's the interest rates or the down payments that vary. Before speaking with a lender, know what monthly dollar amount you feel comfortable committing to. Then when you discuss mortgage pre-approval with your lender, it is easier for … (0 comments)
reo: Bank Owned, REO, Foreclosures, Short Sales
- 11/13/11 06:18 PM
If you are buying a short sale, you are ok. A short sale is, as you know, a sale where the lender agrees to take less than what is owed on the property. This is a 3-way negotiation, between the buyer, the seller and the lender. The seller whose rights theoritically might have been abused somewhat by the lender's servicing practices, is a knowing and willing party in the short sale transaction, so it is a 3-way negotiation, and everybody should come out ok. So again, a short sale should be safe to pursue. If you are looking to buy a bank … (1 comments)
reo: Insurable Title vs. Marketable Title
- 11/13/11 06:14 PM
Accepting insurable title could result in problems which need to be addressed at a later date that can cost your buyer both time and money. Due to the impediments involved in delivering marketable title, Banks are now requiring buyers of REO properties to accept insurable rather than marketable title. Be aware that listing agents representing REO properties are now asking your buyers to sign a bank addendum which is long and filled with a lot of legalese. Only after sorting through this legalese will you notice that the bank is giving your buyer insurable title not marketable title. Marketable title is title … (3 comments)
reo: Looking for Luxury Homes at Incredible Prices? Look at Foreclosures & Short Sales
- 10/02/11 05:38 PM
The Miami-Dade & Broward County housing market seem to be looking up especially in terms of sales involving condos and houses with $1 million or more price tags. This is the first time in 11 months that such activity happened. Compared to 2009 figures from the county real property appraiser, there was a 18 percent increase in sales transaction. According to experts, the growing demand for high-end homes does not translate to a boom. In fact, a ritzy mansion is attracting home buyers both locally and internationally because of its discounted prices. For example, some homes that were initially listed for … (2 comments)
reo: Florida Foreclosure Law
- 09/24/10 02:38 PM
Florida carries out foreclosures through court proceedings. The foreclosure process in Florida takes about five months. Pre-foreclosure Period A foreclosure in Florida begins when a lender files court action and records a notice of a pending lawsuit (Lis Pendens) against the borrower. The lender notifies the borrower and any other affected parties in person or in some cases by mail or publication. If the borrower does not respond to the court action within a specified amount of time, the county clerk can find the borrower in default and the lender can ask the court to make a final ruling. If the … (3 comments)
By asking the right questions, and knowing exactly what your needs are, you can find the right loan for you. There are certain approaches that you can take while mortgage shopping that can cost or save you money.
;)
;)
;)
