foreclosure: BofA to test new Foreclosure Pilot Program - 03/24/12 05:10 AM
Bank of America has started a new foreclosure/lease program where they will allow some delinquent home owners transfer title back to BofA (forgiving their mortgage) and in return,BofA will lease the home back to the owner at or below market rents for up to 3 years. In my opinion, this "Mortgage to Lease" pilot program will never work and is merely a way of trying to regain favor in the public eye.
Why do I think it will never work? The same reason why "Deeds in Lieu" are never a successful (and rarely sought after) alternative to foreclosure. The typical person … (2 comments)

foreclosure: OWS Disrupting Foreclosure Procedures - 02/01/12 02:51 AM
I found this article the other day on the Christian Science Monitor where Occupy Wall Street protesters were disrupting foreclosure auctions and foreclosure proceedings.
It is interesting the mentality of this group of people. I think some legitimately want to make a positive change in this country, though they may be misguided, but others I think just want to be disruptive and be involved in a "Revolution". They may have a romantic idea of what that means. This is unfortunate because they could easily be lead to protest or do anything, whether they know what it is or not. Group mentality … (1 comments)

foreclosure: Foreclosure isn't always a 4 letter word - 01/11/12 02:32 PM
This is an excerpt from a book I am writing called: "Buyers Guide to Foreclosures." I would love to hear from the AR community regarding feedback, comments or suggestions on the below statements.
Now, I want to challenge your assumptions for a moment by making a statement that may seem counter intuitive or heretical: foreclosures aren’t necessarily a bad thing, and banks aren’t necessarily bad for foreclosing on a home (a view you may argue with if you have been foreclosed on). Because of the banks legal ability to foreclose on a home, you and I are able to obtain a … (1 comments)

foreclosure: Using a FHA 203k Loan to Purchase a Foreclosure - 01/08/12 02:52 PM
This is an excerpt from a book I am writing called "Buyers Guide to Foreclosures"  (generic title but to the point).
Financing can be a major hurdle for some buyers wanting to purchase a foreclosure because of the condition of the home, which may keep it from qualifying for conventional or traditional FHA loans. The 203k is a great option. I encourage all agents to familiarize themselves with this loan program.
There are two types of FHA 203k loans. There is the Streamline and the Standard.
The Streamlined is used for homes that need minor repairs such as replacing a roof … (15 comments)

foreclosure: Foreclosure No Longer a Stigma - 11/27/11 02:29 AM
With housing prices on the decline and defaults on the rise, more and more people are walking away from their mortgage, not as a last ditch effort, but more as a first option.
It seems that the stigma of being foreclosed on is quickly dissipating as more and more homeowners are making the decision of strategic default, treating the process of foreclosure more as a business deal instead of a personal obligation. And it seems that the consequences of foreclosure may be slacking as well. There are companies out there that actually guide people through a strategic default. I guess this is another way … (2 comments)

foreclosure: Foreclosures on the rise, Good opportunity for Investors - 11/19/11 11:03 AM
With the future of the economy still uncertain, and mortgage default notices being filed at breakneck speed, is there any reason to be optimistic about the real estate market today?
I guess that would all depend on who you are. For investors who can get their hands on some cash, this is a great market to be in. As the pendulum of supply and demand continues to swing higher and higher on the supply side, prices will continue to fall, which equals a great buying opportunity.
And not only that, but as more and more people are being displaced from their homes, … (0 comments)

foreclosure: Are All Agents Equal? - 11/06/11 06:34 AM
 The rhetorical question that my blog title suggests: Are all agents equal? The short answer is no, but let me explain.
 Would you visit a foot doctor for brain surgery? Not if you want to live. While all doctors have a basic understanding of medicine and the body, their field of expertise is in a specialized area.
 For instance; I am a licensed real estate agent in the state of Mississippi. I have the legal right to sell any parcel of real estate (with the seller’s consent of course) within the state of MS. Whether that is a "sky scraper" in … (34 comments)

Nick Miller (Coldwell Banker Graham & Assoc.)

Nick Miller

Jackson, MS

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Coldwell Banker Graham & Assoc.

Address: 7736 Old Canton Rd. Suite A, Madison, MS, 39110

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