From the category archives:

Short Sale

Facing Foreclosure? With Document Scandal, It’s Vital to Act

Facing foreclosure? With document scandal, it’s vital to act The foreclosure document scandal is a monumental mess. For financially distressed homeowners, being notified that their mortgage company is lowering the boom and seizing their home is now compounded by the question of whether the firm even has the right to foreclose. Allegations have arisen that [...]

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Setting Clear Expectations Helps Create a Streamlined Short Sales Approach

Short sales are not for the faint of heart of heart or for the buyer who needs to be in a home in a specific time period. Short sales are for buyers wanting to buy a home below market value. The difference between a foreclosure and short sales are numerous but the most [...]

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Bank of America Suspends Foreclosures in 23 States

For those Realtors who work with short sales and helping home owners in financial distress modify their loans, we know the nightmare maze you have to go through to work with many banks. It is not uncommon to have presented the bank with a good contract and have the house foreclose before the short sale [...]

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Company Profile: Bank of America Home Loans Works with Real Estate Professionals to Offer Buyers a Better Purchase Experience

The housing market is showing signs of life. Historically low interest rates and greater home affordability in many areas are beginning to attract prospective home buyers to the market. And with a slow yet steady economic recovery, consumers and real estate professionals are positive about opportunities for today’s first-time and repeat buyers. Enabling Success With [...]

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Properties In Distress Are Selling For An Average 27 Percent Discount

Distressed sales are increasing as foreclosures and repossessions mount, accounting for 50% or more of all sales in Nevada, California and Arizona. The selling price for distressed properties averages 27 percent below other real estate, with the deepest discounts in Ohio, Kentucky and Illinois. Distressed property in the foreclosure process in the US is selling [...]

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More Dallas-area homeowners were late on mortgages in April

The number of Dallas-area homeowners with late mortgage payments hit a record again in April. The 6.3 percent of home mortgage holders who were three months or more behind in their payments in April was up two percentage points from a year earlier, according to researchers at CoreLogic Inc. That’s higher than the Texas 90-day [...]

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Distressed Property Institute Produces HAFA Resource Video, Helps Homeowners Understand New Foreclosure Alternatives

April 21, 2010—The Distressed Property Institute, LLC recently released a video tutorial for homeowners, explaining the new short sale and deed-in-lieu processes created by the Home Affordable Foreclosure Alternatives Program (HAFA). “What in the World is HAFA” incorporates the timelines, benefits, incentives and best practices outlined by the new program released by Making Home [...]

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Nearly 6% of Dallas Homeowners Are Behind on Mortgage Payments

The number of Dallas-area homeowners seriously behind in the mortgage payments has risen to almost 6 percent. Researchers at First American CoreLogic said Thursday that 5.93 percent of local home mortgage holders in December were at least 90 days late with their payments. That’s up almost two percentage points from a year earlier. [...]

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Fighting foreclosure

Rising delinquency rates in mortgage payments have forced many homeowners to confront a harsh and unpleasant truth: foreclosure. The Mortgage Bankers Association's National Delinquency Survey for the second quarter of 2007 reported that the delinquency rate for mortgage loans rose about a quarter of a percent between the first and second quarter of the year. [...]

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Foreclosure Dictionary

Assumable Mortgage A mortgage that can be transferred from a seller to a buyer; once the loan is assumed by the buyer, the seller is no longer responsible for repaying it; there may be a fee and/or a credit package involved in the transfer of an assumable mortgage. Bankruptcy Federal law whereby a [...]

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