reoinstitute: Foreclosure Prevention Program Helped 1.5 Million Homeowners
- 12/12/12 03:40 AM
Foreclosure Prevention Program Helped 1.5 Million Homeowners By Evan Nemeroff Local nonprofits, national intermediaries and state housing financing agencies that participate in the National Foreclosure Mitigation Counseling program have helped 1.5 million homeowners avoid losing their properties, according to NeighborWorks America. Additionally, the program has helped save local governments, lenders and homeowners approximately $920 million.
NeighborWorks America said NFMC clients who received a mortgage modification lowered their monthly mortgage payment, on average, $176 more per month than non-NFMC clients. For the year, this represents $372 million in savings to NFMC-counseled homeowners. With more fixed-rate mortgages and lower interest … (0 comments)
Special Series: Industry Weighs in on the Shadow Inventory Debate 11/01/2012 By: Andy Beth Miller
After raising the question of how the election might impact the housing market’s shadow inventory, it was obvious to see we had touched on a key issue near and dear to many voters’ hearts, minds, and wallets. Responses to the initial installment of our special election series poured in, and while we can only share some of the reactions here, we’d like to thank all of you who took the time to put your perspectives into words and join in the … (0 comments)
reoinstitute: ShortSaleCertified Topic Fitch Forecasts Continued Improvements for Housing
- 10/17/12 02:11 PM
Fitch Forecasts Continued Improvements for Housing By: Esther Cho Fitch Ratings is predicting a continued recovery into 2012, according to a recent report titled U.S. Homebuilding and Construction: The Chalk Line. A slowly growing economy combined with “somewhat diminished distressed home sales competition, less competitive rental cost alternatives, and new home inventories at historically low levels” led the ratings agency to predict growth for housing starts and home sales into 2012, with further moderate improvements into 2013.
In the report, Fitch said it expects single-family housing starts to improve 19 percent and new home sales should … (0 comments)
reoinstitute: REOCertified® HOW TO RECEIVE REO LISTINGS! Increase your Income! Learning Best Practices for REOs & BPOs!
- 06/03/12 04:21 AM
HOW TO RECEIVE REO LISTINGS!! INCREASE YOUR INCOME by Learning Best Practices for REOs & BPOs! REOcertified® National Designation is being conducted in Palm Desert, CA @ California DESERT Association of REALTORS on June 21st. Increase you INCOME, learn BPOs & REOs. Join us for this exciting and educational event. Presented by REO Institute in partnership with California Desert Assc. of REALTORS: with 7 Continuing Education hours towards your license renewal. Cost $139 for the day.
The course is @ the Desert Association of REALTORS, but is open invitation to ALL Real Estate Professionals! Registration & Information, June 21 @ - http://www.cvent.com/d/wcqpw5 Testimonials @ http://youtu.be/P9waRtut46o If … (0 comments)
reoinstitute: REO LISTINGS!! Increase your Income: by Learning Best Practices for REOs & BPOs!
- 05/23/12 04:48 AM
HOW TO RECEIVE REO LISTINGS!! INCREASE YOUR INCOME by Learning Best Practices for REOs & BPOs! REOCertified® National Designation is being conducted in Palm Desert, CA @ California DESERT Association of REALTORS on June 21st. Increase you INCOME, learn BPOs & REOs. Join us for this exciting and educational event. Presented: by REO Institute in partnership with the California Desert Assc. of REALTORS: with 7 Continuing Education hours towards your license renewal. Cost $139 for the day.
The course is @ the Desert Association of REALTORS, but is open invitation to ALL Real Estate Professionals! Registration & Information, June … (4 comments)
reoinstitute: Bank Of America, Loan Modifications! Update, provided by REO Institute
- 05/18/12 03:43 AM
Take a look at an article today….. http://soc.li/uljOeLW This is your Short Sale Information provided by the REO Institute® Please take a minute to read this important information about Bank of America Short Sale update! This could be very helpful to your Real Estate clients/homeowners.
If you like this post, please like the REO Institute on facebook, activerain. THANKS, James … (1 comments)
reoinstitute: Combined Foreclosure Activity Wanes, Up in Certain States: RealtyTrac
- 05/17/12 03:58 PM
Combined Foreclosure Activity Wanes, Up in Certain States: RealtyTrac By: Esther Cho Foreclosure filings – default notices, scheduled auctions and bank repossessions – totaled 188,780 in April 2012, which is the lowest monthly total since July 2007, according to RealtyTrac’s Foreclosure Market Report April foreclosure activity also fell 5 percent from the previous month and was down 14 percent from a year ago in April.
Even though certain individual states increased in foreclosure activity, Brandon Moore, CEO of RealtyTrac, said a rise in many state and local markets in April was masked at the national level … (0 comments)
It will take 46 months to clear the market’s supply of distressed homes, or the shadow inventory, according to estimates from Standard & Poor’s Rating Services based on first-quarter 2012 data.
The agency’s latest estimate came in one month shy of the liquidation timeline determined in the fourth quarter of 2011. While national residential mortgage liquidation rates appeared stable over the first three months of this year, these rates varied widely between local markets, which prevented any significant reduction in S&P’s months-to-clear estimate, … (1 comments)
REOCertified® National Designation is being conducted in Upland, CA on June 20th. Increase you INCOME, learn BPOs & REOs. Join us for this exciting and educational event. Presented by REO Institute: with 7 Continuing Education hours towards your license renewal. Cost $139 for the day. The course is @ a C-21 location, but is open invitation to ALL Real Estate Professionals! Register @ June 20 - http://www.cvent.com/d/kcq1kk Testimonials @ http://youtu.be/P9waRtut46o If you like our post, please like us on activerain and facebook. Thanks, James … (2 comments)
reoinstitute: California law Affects Foreclosure / Short Sale Investors
- 05/12/12 04:46 AM
How California law Affects Foreclosure / Short Sale Investors States have varying laws governing foreclosures and some follow California law. To completely understand your rights as a foreclosure buyer, contact a local real estate lawyer. However, realize that for a long time in California, a real estate agent could not represent a foreclosure investor if all of the following four statements were true: · The home qualifies as the seller's personal residence. · The property is a single family home or 2 to 4 units. · A Notice of Default has been filed in the public records against the property. · … (0 comments)
An Austin, Texas, man was sentenced Thursday to 61 months in prison for his role in a foreclosure-rescue scam that took place in Southern California and elsewhere, Special Inspector General for the Troubled Asset Relief Program (SIGTARP) announced Friday. Frederic Alan Gladle, 53, was charged in the Western District of Texas and ordered to forfeit $84,010 and 63 prepaid debit cards he used for his scheme, in addition to this sentence. Gladle pleaded guilty on January 6, 2012, to one count of bankruptcy fraud and one … (1 comments)
After five years of a brutal housing market, many people now view their homes more objectively and with less sentimentality,” said Dr. Andrew Jennings, chief analytics officer at FICO and head of FICO Labs. “Regardless of legal or ethical issues around strategic defaults, lenders must account for this risk when they evaluate mortgage applications in declining markets. Many homeowners who find themselves upside … (0 comments)
reoinstitute: Americans More Likely to Buy, Not Rent, According to GSE Survey
- 04/24/12 02:56 PM
By: Esther Cho 04/09/2012 According to the March 2012 Fannie Mae National Housing Survey, 48 percent of Americans who responded expect rental prices to increase, and the expectation is that prices will rise by 4.1 percent over the next 12 months, the highest number recorded to date and an increase from the 3.5 percent recorded in February.
Also, 33 percent of respondents expect home prices to go up over the next 12 months, a 5 percent increase from last month. Americans project prices will go up by 0.9 percent over the same time period. With expectations for an … (0 comments)
by Jann Swanson "A change is afoot when it comes to short sales," RealtyTrac said on Thursday, releasing new data which indicate, based on January's numbers, that pre-foreclosure sales (most of which are so-called short sales) in the first quarter were the highest since the first quarter of 2009. In theory, the company said, a short sale has long been viewed as an "elegant solution" to the nation's foreclosure problem. A short sale, in which the lender accepts less money than it is owed, provides a win-win-win for the buyer, … (3 comments)
Homeowners who are dealing with financial hardship are seeking assistance in record numbers from MortgageKeeper Referral Services, the company said in its Homeowner Needs Status Report. According to the Downers Grove, Ill.-based company’s report, 217,000 referrals were received in the first quarter of 2012 from distressed borrowers requesting some type of financial help. This is more than twice the number of referrals compared to last year. Housing counselors and services which subscribe to MortgageKeeper provide troubled borrowers with a list of nonprofit and government agencies in seconds that assist mortgagors paying their utility bills, locate inexpensive … (0 comments)
With over a million borrowers delinquent on their mortgages and nearly two million properties in the foreclosure pre-sale inventory, analysts, Realtors and servicers can only speculate about when the housing industry will take positive steps towards a recovery. Benton Neese, the president of REOMAC, joined Managing REO reporter Evan Nemeroff for an exclusive interview at the trade association’s annual spring summit educational summit in Palm Desert, Calif. to talk about current and future trends taking place.In the first part of the interview (http://www.mortgageservicingnews.com/msn_features_reo/REO-industry-trends-future-1029796-1.html?site=default_reo), Neese … (10 comments)
reoinstitute: The Best Seminar in 'TEXAS' is now Available in Dallas!! INCREASE YOUR INCOME by Learning Best Practices for REOs & BPOs
- 04/12/12 12:30 PM
REOcertified® and ShortSaleCertified® are being conducted in Dallas, we just conducted this two day event in Houston, and they asking, when are we coming back. Join us for this exciting and educational event. Presented by REO Institute: with Continuing Education hours towards your license renewal. Cost $139 per day or save, $250 for both days. Register @ http://www.cvent.com/d/kcql98 Testimonials @ http://youtu.be/P9waRtut46o
The valuation firm Clear Capital released the results of its home price forecasting models Thursday. The company expects residential property values at the national level to show slight increases over the next three months, ending the year with a growth rate of 1.2 percent. Diagrams illustrating the trajectory of home prices from 2006 to now and Clear Capital’s projections heading into 2013 depict the valley shape with current prices at the bottom and a subtle upward trend from March through December of 2012. The strongest … (0 comments)
reoinstitute: Major changes in HAFA! Important Information
- 04/04/12 07:30 AM
Major news in the short sale and housing industry! On Friday, March 9, the Obama Administration announced updates to the Home Affordable Foreclosure Alternative (HAFA) program. Created in 2009, HAFA is a government-sponsored initiative assisting all Home Affordable Modification Program (HAMP) eligible homeowners in avoiding foreclosure through short sales and deed-in-lieus. The HAFA updates will go into effect on June 1, 2012, and will allow more distressed homeowners to seek assistance. Most importantly, the deadline for submitting for HAFA eligibility will be extended a full year, from December 31, 2012, to December 31, 2013. Other major changes from March's … (2 comments)
the grandparents & their daughter (age 21), & her 2 children (ages 3 & 5) The children were playing catch in the front yard & the adults were sitting on the porch. Frank carefully without being noticed took pictures of the property for the exterior BPO, documented the condition of the property & the residents. He submitted the BPO as required. Several months passed by & the Bank requested several occupancy checks, Frank conducted these checks & the residents continued to reside there. After a period of time, the bank sent Frank an offer to the homeowners for … (4 comments)
Foreclosure Prevention Program Helped 1.5 Million Homeowners 
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