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Straight from the horse’s mouth
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 [...]
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 [...]
The $8,000 Tax Credit has been extended!
Nov 10th
If you were kicking yourself for not jumping in while you had the chance, it’s time to start patting yourself on the back. The previous credit provided up to $8,000 to homebuyers who had not owned a home in the past 3 years, and whose income was $75,000 for single taxpayers and $150,000 for married [...]
