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Short Sale Updates
Dec 28th
A ton of rumors and half truths have been flying around this month regarding changes the banks are required to make in the handling of short sales. I have gotten several calls from potential sellers who believe that the process is now simplified. While that CAN be true, there are a number of factors that determine [...]
The Sound of Muzak
Dec 27th
Last week, as I began my weekly calls to the short sale departments of a couple dozen banks, I believed I was fully armed. A stack of files with any and every possible document the negotiator might request. The same documents open in electronic form on the computer. The laptop was open and ready to make notes in [...]
Register Here for Your Chance to Win a Dinner for Two at Maggiano’s!
Dec 3rd
Winners are notified by the 5th of each month.
Great news on Short Sales!
Dec 1st
The new Home Affordable Foreclosure Alternatives Program has some really helpful new guidelines for the short sale process. As a short sale specialist who has had to navigate the shadowy, poorly regulated short sale halls for the last few year, I think most of these guidelines will really speed up the process if implemented.
New proposed changes to help distressed homeowners
Nov 30th
All over the country, foreclosures are up for the 9th straight quarter. A report last week by the Mortgage Bankers Association listed that 14 percent of homeowners with mortgages are either behind in their payments or headed for foreclosure. In response, it has been announced that there some changes to its “Home Affordable Modification Program,” originally launced in [...]
LOW Rates = LOW Payments
Nov 17th
With rates hovering near historical lows, a mortgage of $350k (principle and interest) will run around $1847/month at a rate of 4.85%. If rates go up to 6% next year that same mortgage will now run you about $2100.00 (principle and interest). That is a difference of $253 per month! OR if you are qualified [...]
