covington: Greentree policy now is to demand 5% of purchase price
- 04/14/10 01:46 AM
I've only been doing short sales for a couple of years but have noticed a disturbing trend as of late. When I started doing shorts the 2nd lien holders were typically getting 10% of their balance approved by the first. Later on that went down to 5%, and more recently with direction from Fannie Mae and the HAMP program they have gone to $3,000. Greentree seems to be bucking the system. I have two right now where the first has all but approved the deal but Greentree is demanding 5% of the PURCHASE PRICE! Now we are used to outragous claims … (2 comments)
covington: Who to believe? Zillow, Cyberhomes, or EAppraisal.com
- 04/05/10 02:11 PM
Automated home valuation web sites offer the promise of a free market value for your home without the hassle of having an agent spend hours of your time during a free CMA presentation. I think they are great, and more than a little addictive once your start logging into the site and popping in the addresses of any home you are curious about. Best of all they portend to give you the monthly fluctuations in graph form and will even email you letting you know how much your home has gone up or down in the last 30 days. Pretty … (4 comments)
covington: Banks Forcing Late Mortgage Payments
- 01/11/10 02:15 PM
Loan Modifications are supposed to allow a borrower to redeem themselves and regain their financial footing long enough to survive their hardship. Short sales are supposed to help lenders reduce their losses and help homeowners stop foreclosure. These transactions make up a significant percentage of the current real estate market and should be helping us to recover from the economic woes we all face. Short sales and loan modifications are very similar in their execution in that the lender requires a financial disclosure, copies of bank statements and proof of income. In each case the borrower and lender come together for … (1 comments)
covington: Money Falling From the Sky
- 08/01/09 04:38 AM
Here in King County we are having one of the best summers ever! There is no more beautiful place to live thanSeattle/King County when the weather is cooperating. With the sun comes the need to water our lawns more often to keep the emerald green in our lawn that King County residents have come to expect. Looking at my water bill from the Covington Water District I noticed that the irrigation meter is billed at $9.69 per cubic foot for water. A cubic foot is 7.48 gallons which calculates out to $1.26 per gallon. I checked several web sites for recommendations … (0 comments)
I've only been doing short sales for a couple of years but have noticed a disturbing trend as of late. When I started doing shorts the 2nd lien holders were typically getting 10% of their balance approved by the first. Later on that went down to 5%, and more recently with direction from Fannie Mae and the HAMP program they have gone to $3,000.
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