NEW YORK – Sept. 22, 2008 – Increasingly, sellers seeking short sales are encountering a new twist. Lenders are agreeing to let some short sales go through, but they want the home owners to sign a note promising to pay some or all of the balance due – debts that could burden borrowers for the rest [Continue]
from Florida Realtor Magazine, January 2009 | page 11The increase in the number of short sales throughout the state prompted two legal questions. FAR’s General Counsel Randy Schwartz responds: If a real estate licensee lists a property at a below-market-price that he knows the seller probably won’t accept, is the licensee in violation of [Continue]
WASHINGTON – May 20, 2009 – Help is on the way for many homeowners facing foreclosure, thanks to new details under the Making Home Affordable Program announced by the U.S. Treasury and the U.S. Department of Housing and Urban Development (HUD). The Making Home Affordable Program is designed to help homeowners modify their loan so they [Continue]
Are you looking to buy a new home? Are you thinking that now’s a great time to find bargains? Before you make an offer, it pays to know a little about the seller’s situation. If a home is being sold for below what the current seller owes on the property—and the seller does not have other [Continue]
If you’re thinking of selling your home, and you expect that the total amount you owe on your mortgage will be greater than the selling price of your home, you may be facing a short sale. A short sale is one where the net proceeds from the sale won’t cover your total mortgage obligation and [Continue]
From pushy lenders to aggressive investors, there are many challenges that real estate practitioners must overcome in the new world of distressed sales. The hard sell by lenders is just one of the many challenges sales associates face when working with distressed sales. Other challenges: aggressive investors who try to make money through a [Continue]
As the eye of the storm approaches a lot of people think that we’ve seen the worst of the housing crisis. Green signs of a recovery are false hope of an immediate turn around in the housing market. For the past few months there has been a semi-moratorium on foreclosures. Most institutions with delinquent mortgages [Continue]
Orlando’s real estate homes sales are beginning their climb the median sales price continues to move downward. This results in Orlando home owners being trapped in homes they can’t sell. But in Orlando short sales are saving the day for distressed homeowners, as they are in other parts of the country. For people upside down [Continue]
Lenders show sudden willingness to modify loans and avoid expensive legal action on the growing number of mortgage-default cases. Half of the foreclosures headed for court hearings in Orange County during March and April were canceled. Thousands of local homeowners in default on their mortgages now appear to be hanging on to their homes, according [Continue]
Bank of America has announced it is loosening its policies on short sales in response to the U.S. Treasury Department’s announcement last week that it would increase incentives for lenders to work out short sale deals. This is excellent news for many home owners in need of assistance from one of the largest mortgage lenders. [Continue]
