foreclosures: Foreclosures Have Fallen To Pre-Crisis Levels
- 03/07/17 08:03 AM
For the first time since the national housing crisis, the monthly pace of completed foreclosures has fallen back to pre-crisis levels. Residential loans that were at least 90 days past due accounted for 2.6 percent of all U.S. loans outstanding as of year-end 2016. The rate of serious delinquency on home loans turned out to be the lowest it's been since June 2007 based on historical performance data. CoreLogic Inc. reported the performance statistics in its National Foreclosure Report December 2016. Ninety-day delinquency was previously reported at 2.5 percent as of Nov. 30, though that figure has apparently been revised upward based on … (3 comments)
foreclosures: Choosing The Right Realtor To Represent You When Buying A Distressed Property
- 10/06/12 01:11 PM
New homebuyers often make the mistake of simply going with the first real estate agent they find. Who you choose to represent you is very important, especially when it comes to buying a bank-owned property. By choosing a buyer’s agent who has experience working on foreclosure and short sale transactions, you will have a representative who can use their knowledge to your benefit, not the seller. So who should you choose? It’s always a good idea to interview several REALTORS before selecting an agent. Ask what professional designations he or she has. These designations indicate an agent has received additional … (4 comments)
foreclosures: Do I Have To Pay Cash To Buy A Foreclosure Or Can I Get A Loan?
- 04/17/12 11:15 AM
So, Do I get pre-approved for a regular mortgage? Or Am I Required to Pay Cash? A common misunderstanding among potential buyers is that unless they are prepared to pay cash on the spot, they cannot purchase a foreclosed home. This is simply not true. All loans are available just like any other home for sale. Also, some lenders offer special loan programs aimed at borrowers who intend to buy a foreclosed home.
Lender appraisals and inspections may sometimes make it difficult to obtain certain types of mortgages for a foreclosed home that has been damaged or … (6 comments)
foreclosures: Tips for Buying A Foreclosure or Short Sale
- 02/07/12 09:15 AM
Buyers are drawn to distressed properties. After all, 'the No. 1 reason to buy a foreclosure is the potential for a good bargain. Discounts often can range from to 20 or 40 percent off on a short sale or foreclosure compared to a sales price of a nondistressed home. But despite the big bargains, buyers need to tread carefully before jumping in. Some tips for buying a foreclosure or short sale are: First time buyers are investors may want to focus on REOs. New buyers may want to avoid short sales, which often come with lengthy negotiations. On the other hand, REOs … (3 comments)
foreclosures: HOAs and Foreclosure - Can they do that?
- 05/10/11 02:27 PM
In today's tough economy, many homeowners are learning to their surprise that condo and neighborhood associations that oversee pools, mow lawns, plant flowers and provide security might have the right to foreclose when dues aren't paid. That right is often written into the purchase agreement signed by the homeowner when they purchase the property. All HOAs in all states can foreclose on the property for unpaid assessments (dues). How fast or slow the HOA may move on foreclosing depends on the laws in the prevailing states. There are several different types of laws in the US, South Carolina has a site to learn more … (11 comments)
foreclosures: Why Did You Leave Me Behind?
- 04/13/11 02:58 PM
I can think of little else that ANGERS me to the point of actually wanting to PHYSICALLY HURT someone more than finding an animal that has been abandoned by humans who once were its' caretaker. I have been in real estate for over 20 years, and virtually all of that time been specializing in REO, bank foreclosures and distressed properties. I have been in THOUSANDS of abandoned properties, from the most modest mobile homes to the most lavish multi-million dollar mansions, and they all have one thing in common: people. REAL PEOPLE were once in them living real lives, with real … (23 comments)
foreclosures: Which Would You Pay First? Your Mortgage Or Your Credit Cards?
- 04/01/11 03:22 PM
Which Would You Pay First? - Your Mortgage Or Your Credit Cards? If you only had the money to pay either your mortgage OR your credit cards, which would you choose? I have found that most people answer, "My Mortgage, of course!"; However, I have read several news stories lately about the high number of people who are current on their credit cards but delinquent on their mortgage! Interesting, huh? One reason for this may be due to the decline in home values over the past few years. Some folks are making the decision to "let their home go", intentionally, in … (15 comments)
Every day we work with people and families who are in distress with their mortgages, many who have outright lost their home to foreclosure. Whenever we go out to these homes and talk with the people for the first time, it is always unknown how we will be received. I would say there are three common responses that we get more often than any other when visiting a house that has been foreclosed on: 1) Friendly and cooperative people come to the door, and when we say why we are there, … (4 comments)
foreclosures: REINING CATS AND BLOGS
- 11/07/10 01:58 PM
Since it is Sunday night and I am not in much of a thinking mood, I thought I would share a few images of our feline friends. Their names are Bruce (gray tabby, male), Weasel (long haired gray tabby, female) and Harvest Moon, or Moon for short (solid black male). They bring us great joy just by hanging around and letting us be their people. They are royalty around here... Here are a few shots my husband took… B R U C E
T H E
C A … (5 comments)
foreclosures: LIAR! LIAR!
- 09/05/10 07:04 AM
One of the most striking differences between a cat and a lie is that a cat has only nine lives. ~Mark Twain
How many of you have never lied before? Let's see a show of hands... ... ... Seriously? Okay...just in case I misspoke or wasn't clear with the question, let's give it another go. How many of you have NEVER lied before? Ever. In your lifetime. About anything... Okay...sir...you there...in the back...put your hand down and kindly leave the room. You are a liar. Either that or you are stoned or perhaps just an idiot; either way, you must … (4 comments)
foreclosures: LOST YOUR HOME? NO EXCUSE!!! (yeah, I said it)
- 09/04/10 10:47 AM
I have been in real estate for over 20 years and virtually all of that time I have specialized in REO, foreclosures and distressed sales for banks and individuals. I have been in untold THOUSANDS of properties ranging from the most modest of mobile homes to the most lavish multi-million dollar mansions, and they all share several common denominators. One is that you NEVER KNOW what you are going to come upon when you walk on that property and you ESPECIALLY never know what you will find when you walk INTO that property. Those of us who have done REOs for a while could write … (48 comments)
Bank Foreclosures and Distress Sales often represent a great way to get a fantastic deal on a home. It's not easy for the average homeowner to find these deals, because you have to keep scouring the paper to see when one comes up. If you're the type of person who recognizes what a great deal some of these properties could represent, you will be interested to know about our service! When you receive this free, no obligation service, you're automatically plugged in to the most current list of Foreclosure Properties on the market in the … (0 comments)
foreclosures: Costly Mistakes to Avoid when Buying a Foreclosure
- 05/04/09 09:05 AM
1) Assuming ALL REOs are bargains - some homes are listed for actual market value w/no consideration for the home's condition. Be prepared to do your homework and to rely on a professional REALTOR working for you as a buyer's agent to help you avoid any problems or other land mines!!
2) Overbidding when making the initial offer- You must know the area home values or have a buyer's agent that knows!! Also, you must take into consideration the general area, condition of other homes in the area, zoning issues, etc...
3) Assuming that No inspection is necessary- with … (0 comments)
foreclosures: How does Foreclosure work? What is the Process for Foreclosures?
- 05/04/09 08:58 AM
The term foreclosure refers to a 3 step process: 1: Pre-foreclosure - the stage when the homeowner has missed several payments (becoming delinquent). The lender begins foreclosure proceedings also known as "notice of default" at this stage. 2: Auction (AKA: trustee's sale" or "foreclosure sale" ) - In this stage the property is auctioned by the lender. The proceeds from the auction go tot the lender to repay the loan ( and homeowner if any money is left over).. 3: Post Foreclosure - If the property didn't "sell" at the auction to a 3rd party, the lender then "buys" or "repossesses" … (0 comments)
foreclosures: Free Customized Report: Upstate SC Bank Foreclosures and Distress Sales
- 04/20/09 06:57 AM
Bank Foreclosures and Distress Sales often represent a great way to get a fantastic deal on a home. It's not easy for the average homeowner to find these deals, because you have to keep scouring the paper to see when one comes up. If you're the type of person who recognizes what a great deal some of these properties could represent, you will be interested to know about our service! When you receive this free, no obligation service, you're automatically plugged in to the most current list of Foreclosure Properties on the market in the price range and area that … (0 comments)
foreclosures: Fannie Mae And Freddie Mac Foreclosure Moratorium has been lifted
- 04/07/09 11:07 AM
As of March 31, 2009 Fannie and Freddie lifted the ban on foreclosures.. Fannie Mae said in a brief statement from spokesman Brian Faith that "Fannie Mae's suspension of foreclosure-related evictions concludes as of March 31, 2009. The company has in place special foreclosure sale requirements that take into account the Making Home Affordable program. A foreclosure sale may not occur on any Fannie Mae loan until the loan servicer verifies that the borrower is ineligible for a Home Affordable Modification and all other foreclosure prevention alternatives have been exhausted." Both Companies have developed rental programs to help tenants so they … (3 comments)
foreclosures: Bank Foreclosure and Distress Sales in South Carlolina - Free List of Homes
- 11/18/08 09:58 AM
South Carolina Bank Foreclosures and Distress Sales -Free Customized ListBank Foreclosures and Distress Sales often represent a great way to get a fantastic deal on a home. It's not easy for the average homeowner to find these deals, because you have to keep scouring the paper to see when one comes up. If you're the type of person who recognizes what a great deal some of these properties could represent, you will be interested to know about our service! When you receive this free, no obligation service, you're automatically plugged in to the most current list of Foreclosure Properties on the … (1 comments)
We are a mix of REAL ESTATE (Upstate South Carolina) and FUN, INTERESTING (often FUNNY) ARTICLES which will delight and inform you about things you want to know. We cover Anderson, Greenville, Pickens, and Oconee Counties. Visit our website today for a free search of MLS listings and free info on buying and selling homes in the Upstate.
For the first time since the national housing crisis, the monthly pace of completed foreclosures has fallen back to pre-crisis levels. Residential loans that were at least 90 days past due accounted for 2.6 percent of all U.S. loans outstanding as of year-end 2016. The rate of serious delinquency on home loans turned out to be the lowest it's been since June 2007 based on historical performance data. CoreLogic Inc. reported the performance statistics in its National Foreclosure Report December 2016. Ninety-day delinquency was previously reported at 2.5 percent as of Nov. 30, though that figure has apparently been revised upward based on … (3 comments)
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