Is Your Luck Running Out In Buying A Home?
Some Highlights:
- The “Cost of Waiting to Buy” is defined as the additional funds it would take to buy a home if prices and interest rates were to increase over a period of time.
- Freddie Mac predicts that interest rates will increase to 4.8% by this time next year, while home prices are predicted to appreciate by 4.8% according to CoreLogic.
- Waiting until next year to buy could cost you thousands of dollars a year for the life of your mortgage!
Bank Of America To Avoid Foreclosures, Short Sales Preferred If Loan Mod Not an Option
Wednesday, August 18th, 2010, 9:30 am Bank of America pushed its total number of permanent mortgage workouts under the Home Affordable Modification Program (HAMP) to 76,300 in July, a 5.9% increase from June. The Treasury Department launched HAMP in March 2009 to...
Southern California sees a 21.4% drop in home sales from 2009
A "For Sale" sign is seen in front of a house in Hemet earlier this year. Southern California home sales were down 20.6% in July compared with June. (Gina Ferazzi / Los Angeles Times / March 17, 2010) Southland home sales fell dramatically in July as federal tax...
How Will My Taxes Be Affected By a Short Sale in Orange County?
How Will a Short Sale Affect my Taxes in Orange County? from Kim and Kris Darney on Vimeo.
Obama's Fix For Freddie Mac And Fannie Mae…Good Bank-Bad Bank?
Just Announced! Bank Of America Tests New Co-Op Short Sale…For True Hardship Situations
Matt Vernon Bank of America Short Sale and REO Executive Just when you think Bank of America has it "goin-on"...Matt Vernon (BofA REO & Short Sale Honcho) sends out this mind numbing response to the new program..."It's a test" and it will be in place for...
600,000 In Real Estate Owned…? Foreclosures, Short Sales…
Bailout for Unemployed Borrowers To Help Them Pay Mortgages
We knew it was coming, as it was part of the recently signed financial reform bill, but today the Obama Administration announced it would be sending another $1 billion to unemployed borrowers to help them pay their mortgages. Here's part of the release: "This new...
Bank of America HPO Cooperative Short Sale Program is being Rolled Out
Breaking news. Bank of America is rollling out the HPO Short Sale program...not sure what HPO acronym means? The program also refered to as "Cooperative Short Sale Program". It's a turnkey solution that: Pays the seller up to $3,000.00 at close of escrow Releases the...
Orange County Short Sales Up In June…1 In 4 Sold Short Sale
Not surprising....Just printed in Orange County Register: One out of every four homes sold in Orange County in June went for less than the seller owed on the mortgage, according to the latest figures from the Southern California Multiple Listing Service. SoCal MLS...
Default Rates Continue To Rise At Record Rates
Homeowners with excellent credit seem to be next wave of Short Sales
We've all been following the headlines regarding Strategic Walk-Aways...basically a voluntary foreclosure. For us, this that week has brought unexpected increases in homeowners that are facing ultimate foreclosure or giving up their home and doing a short sale. Here's...
Foreclosures on the Rise, more short sales to follow
Bank of America or Countrywide…Insurance Scam Means Faster Short Sale Approvals
Bank of America gets caught with their hand in the cookie jar and blames Countrywide. But doesn't Bank of America own Countrywide? Yes! When Bank of America took over Countrywide in 2008 during the worst housing crash since the Great Depression, according to...
Housing Inventory Grows, Nearly 10 Month Supply…Good News, Short Sales Are Strong!
No one want to hear that Americans are in trouble...but the reality is we are! Listen to the projected numbers of homes for sale versus homes being purchased...scary. There is good news in the fact that Foreclosure sales are down and short sales are increasingly being...
Short Sales on the rise in California…Foreclosures Down
Want to Buy A House…Don't Get Pregnant
Expectant parents shopping for a home are not the only ones concerned about the date of the baby’s arrival. Mortgage lenders are taking a harder look at prospective borrowers whose income has temporarily fallen while they are on leave, including new parents at home...
Homeowners Dropping Out Of Government Programs…More Short Sales,Foreclosures?
The number of borrowers dropping out of a government program to help struggling homeowners rework their mortgage grew in June at almost twice the pace of those getting a permanent modification, the Treasury Department said on Tuesday. The latest figures could signal a...