foreclosures: FHA Helps speed up foreclosure sales! - 02/11/10 09:22 AM
In an effort to speed up the sale of foreclosure properties, the FHA has lifted the 90 day seasoning rule for 1 year. Huh? Seasoning? You mean paprika? Garlic? No....parsley, that's a seasoning. Right? Well, no. Whean it comes to real estate, the term "seasoning" refers to how long a buyer keeps a property before they sell it. The longer a buyer holds onto a property - the more seasoned it is. If you buy a "fixer upper" or "foreclosure" property you want to flip - you might run into problems when they buyer tries to get financing. FHA will not … (0 comments)

foreclosures: Short Sale Haiku - Play-By-Play Illinois Short Sale - 09/08/08 09:32 PM
Real Estate Short Sale
Up And Down And All Around 
End Becomes The Means. 
REAL ESTATE SHORT SALE
Real estate agents - we either hate them, love them - or don't understand them.  Short Sales are a necessary evil in todays market - another way to generate leads and close sales.  But unlike a traditional  sale - we often find ourselves deeply involved in someone elses financial matters.  It means gathering very detailed info about how much homeowners make, what they owe and to whom.  It means working with people at one of the toughest points in their lives.  No matter what you think - there is no "One … (1 comments)

foreclosures: Foreclosure Widget - Cool, Customizable - So What? - 06/09/08 05:31 PM
Foreclosure Widget - Cool, Customizable - So What?
Once again, an innocent evening in front of the computer turns into an obsession. I spent the afternoon listening to talk radio and it was all about politics.  Telling you how I got from politics to the foreclosure widget is another blog entireley!  For now, let's just say even the web adheres to the six degrees of separation.
After crusing the web for about an hour, I landed on ForeclosureWidget.com.  This widget is for consumers - and it's not you're typical web based widget - but a desktop widget.  Created by the folks at Foreclosures.com - it allows consumers … (1 comments)

foreclosures: Foreclosure Bus Tours - How do they work? - 06/05/08 06:38 PM
Foreclosure Bus Tours - How do they work?
I've recently been obsessed with the idea of foreclosure bus tours.  I've been concentrating my business on short sales lately - and doing a foreclosure bus tour seems like a great way to get connected with buyers.  There are several going on in my area and I wanted to know how to get involved.  Here's what I've learned:
Rent a Bus - rental rates for a bus that holds around 50 people will range from about $500 - $900.  You can rent the bus for 5 hours or an entire day.  Sometimes a … (4 comments)

foreclosures: MLS Now Tracks Short Sales - 05/28/08 08:07 AM
As of March 27th of this year, the MRED LLC, formerly the MLS of Northern Illinois, added a tag to allow REALTORS to identify closed transactions as short sales. The small (S) you see next to the sale price denotes it was a short sale. This is important information for REALTORS, Buyers and Sellers.
Recent sales will determine the future listing price of other homes in the area - as well as offers made on currently listed property. Short Sale properties are often sold at deep discounts - so having this data can help balance the value picture when comparing it … (1 comments)

foreclosures: Second position foreclosure - how does it work? - 04/28/08 04:02 PM
I have recently met with two homeowners that are behind in their mortgages.  Funny thing is - they are both current on their first mortgages but behind on their seconds.  One of them hasn't paid the second mortgage in over 8 months!  I'm curious why this lender in second position hasn't done more to exercise their rights.  Can't the lender in second position foreclose?  If so - how does the second position foreclosure work?  My understanding is - the only way a second position lien holder can foreclose is to pay off the first.  So, if home owner is current on the … (2 comments)

foreclosures: Fannie Mae/Freddie Mac Foreclosures in Oswego & Plainfield - 04/18/08 07:50 PM
Two new properties coming up for sale.  These are foreclosures being offered by Fannie Mae/Freddie Mac.  They are not yet listed but I get notified before they come on the market.  Contact me for more details: Harbor Drive, Oswego Illinos.  4 Bedroom, 4 bathroom.  Not yet priced. Cascade Ridge Drive, Plainfield Illinois 3 Bedroom, 2.5 bathroom.  Not yet priced   For a property that is not yet priced, I would help you pull comparable property sales and determine what the value is.
Bo Buchanan, Kettley Realtors 58 Chicago Rd, Oswego IL. 60543  (630) 846-4663
IllinoisHouseHunter.com|OswegoHouseHunter.com|MontgomeryHouseHunter.com|YorkvilleHouseHunter.com 
(0 comments)

foreclosures: Stop Foreclosure with Program 3648 - 04/17/08 03:34 PM
If you bought your home a year or two ago - you might be in the situation many homeowners are. You owe more than your house is worth. Because of the market slowdown, homeowners are seeing houses in their neighborhood sell for less than they did a couple years ago. This can become a scary prospect when you are forced to sell your home due to relocation, a lost job or death in the family. That's why the president and congress passed House Bill 3648 - the Mortgage Forgiveness Debt Relief Act of 2007. More commonly known as Program 3648.Prior to … (0 comments)

 

Bo Buchanan

Oswego, IL

More about me…

Kettley Realtors

Address: 58 Chicago Rd., Oswego, IL, 60543

Office: (630) 554-8700

Mobile: (630) 846-4663

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