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]
A recent Money Magazine article written by Joe Light touted the advantages of a short sale in today's market. When a buyer is looking for a bargain in Central Florida, a short sale can be the answer. [Continue]
Good news for Orlando area homeowners forced to sell their homes during this economic recession: The Federal National Mortgage Association, known as Fannie Mae, is trying a new pilot program to speed up the short-sale process. Orlando’s bargain housing market has passed Miami, Fort Lauderdale and Jacksonville in the number of homes sold in [Continue]
With foreclosures occurring in nearly every Orlando neighborhood, a mob of unscrupulous vultures has swooped in to prey on desperate homeowners. Here are a few things to watch for to protect yourself from their scams: If you’re contacted out of the blue by someone claiming to be with your lender and offering to assist you with [Continue]
This is not a good time to sell a home in the Orlando area, but what if you need to sell now for a variety of reasons such as a divorce, illness, a necessary move, or job loss? Or maybe you had an adjustable rate mortgage and the increase in your monthly loan payment [Continue]
The news from PMI Mortgage Insurance Co. on January 14 was not encouraging. The company’s report on Winter 2009 Economic and Real Estate Trends indicates a risk of housing prices continuing to decrease nationwide for the next two years. PMI reports that 50 percent of the country’s Metropolitan Statistical Areas (MSAs), such as the [Continue]
