short sale

Strategic Defaults: No Rush In Making The Decision

by Justin McHood | May 11, 2010

Because I live in Arizona, many people have asked me over the last 2 years whether or not they should short sell their house. And pretty much every time, my advice is generally the same: It is up to you. But if you can afford your mortgage payments, there isn’t a rush – you will [...]

0 comments Read the full article →

Real Estate

The Art of War – How To Win The Real Estate Bidding War, That Is

by Florence Foote | April 27, 2010

You have probably heard of the ancient Chinese text “The Art of War,” written by Sun Tzu in the 6th century BC. The treatise is a philosophical guide to battle and has, amazingly, stood the test of time – it is as relevant to today’s business climate as it ever was to Chinese commanders six [...]

1 comment Read the full article →

Commentary

New Investing Mindset in the New Economic Normal

by Ryan Hinricher | April 5, 2010

Foreclosures are peaking in 2010. New home construction is at record lows. Fed intervention in the mortgage-backed securities market is over. The home-buyer tax credit expires in a few weeks. Interest rates and inventories are set to rise. Housing normally leads us out of a recession but it won’t lead us out of this one. [...]

0 comments Read the full article →

Real Estate News

The Ten Best in RE.net This Week: Feb. 13, 2010 Edition

by Dean Ouellette | February 13, 2010

1 ) Government Math – This video seemed to create the most buzz this week, and rightfully so. Indymac worked out a sweetheart deal for themselves and we are paying for it. One thing that is not stressed here is who is George Soros? Soros is the money man for the group MoveOn.org and spent over $23million alone [...]

2 comments Read the full article →

Foreclosures

Here Come The 1099-Cs Turning YOUR Short Sale Into A Big Headache

by Charles Feldman | January 13, 2010

If you are like the small, but growing army of folks who have dumped their homes back on the banks in a short sale—and are feeling pretty good that you managed to get the bank to forgive all that debt you owed—stand-by! The IRS is about to dump an even bigger one on YOU! Ever [...]

13 comments Read the full article →

Selling Real Estate

Real Estate Agents Can Process Short Sales in Seven Easy Steps

by Christina Inman | November 9, 2009

In my previous blog posts I told you that real estate agents who are tired of losing commissions to “short sale processing companies” are starting to realize that processing short sales themselves is well worth the effort. But, I’m not sure agents realize just how simple this process–which can net them some serious profits and [...]

8 comments Read the full article →

Credit

Borrowers Should Be Aware of the Effects Foreclosures, Bankruptcies and Shorts Sales Will Have on Their Credit

by Christina Inman | October 19, 2009

fannie mae For homeowners facing foreclosure or bankruptcy–or considering a short sale of their property to avoid one or both–the effect the action will have on their credit is undoubtedly a huge concern. Though keeping their homes might not be an option at this point, there could very well be another one in the not-too-distant future, so knowing when they’ll be eligible to qualify for another mortgage is important.

Be Aware of the Rules of the Road

Earlier this year, Fannie Mae updated its credit guidelines for borrowers who experience one of these circumstances. And, in general, the wait time will now range from two to five years.

Homeowners who lose their properties to foreclosure or file multiple bankruptcies within a seven-year period will have the longest wait–five years.

In the case of foreclosure, additional requirements and restrictions will apply after five years and up to seven years as well, which include making a minimum 10% down-payment, having a credit score of at least 680, and having limited cash-out refinance options. Also, the purchase of second homes or investment properties is not permitted.

8 comments Read the full article →

Housing

Short Sale Relief: Fact or Fiction?

by Peter Giardini | October 6, 2009

A couple of weeks ago I posted an article that included a chart that showed that there are still a boat load (over a million) Adjustable Rate Mortgages that will reset between now and 2011. You can re-read that article here.

Many experts believe the Fed Rate will hold steady through most of 2010 and therefore, the number of mortgage resets may not see huge jumps. Many of these mortgages are tied to properties that are upside down, meaning the property value is less than the mortgage, and that will be the primary reason for increased defaults — or it will at least make these properties prime candidates for short sales.

Real estate investors can attest to how hard it has been to get lenders to let go of their inventory, and if you specialize in short sales, you know that at times, waiting for a short sale response from a lender is a lot like watching grass grow.

3 comments Read the full article →

Real Estate Deals

How to get tons of great deals, and cherry pick the best ones

by Ryan Moeller | August 11, 2009

The current market conditions have resulted in incredible opportunities for investors. In order to take advantage of the oversupply of opportunities, we investors must efficiently sift through the many available properties and separate the deals from the duds. But first, you need deals coming into your pipeline that fit your criteria. And not just a few, you need an abundance. Finding great deals is the most important part of real estate investing.

Here are some steps and ideas to get tons of profitable deals to cherry pick from:

1. Have agents do the work for you – Agents are starving and will work their tail off for peanuts these days.

3 comments Read the full article →

Real Estate

BiggerPockets Success Story: Two Deals, Three Months, $50k in profits

by Joshua Dorkin | July 16, 2009

Every day, people in real estate connect, make deals, and partner up thanks to BiggerPockets.com. I recently heard about yet another successful real estate business relationship established because of BiggerPockets, and thought I’d interview the two gentlemen, Nick Johnson and Justin Schnettler, to find out more about it. Nick has been involved with Real Estate [...]

8 comments Read the full article →

Learn Real Estate

Learn the Basics of Short Sales (Video)

by Joshua M. Marks, Esq. | February 24, 2009

We put together the following video presentation in 3 parts to help you learn about the basics of Short Sales, how they work, etc. Other topics covered include Credit, Deed in Lieu of Foreclosure, dealing with the banks, and Taking a Short Sale Listing etc. PART II PART III

1 comment Read the full article →

Real Estate

What’s the Value of Your Home?

by Anwell Tsai | January 22, 2009

With the ongoing deluge of foreclosures and short sales, it has become more and more difficult to determine what the market value of homes are. The market value is the most probable range of values in which a typical buyer and a typical seller will agree to terms with in an at arms length transation. Foreclosures [...]

2 comments Read the full article →

Real Estate

The Top 3 Mistakes to Avoid When Buying a Short Sale as a Residence

by David Peeples | October 17, 2008

Buying a short sale can be a great way to make a smart real estate purchase, given the conditions in today’s market. More frequently, home buyers want to look at nothing but foreclosures, REOs, and short sales during their real estate search. However, just because a property is being sold as a short sale, or [...]

4 comments Read the full article →

Economy

BIG Problems Need Simple Solutions; A Bailout Plan that Works

by David Peeples | October 10, 2008

Two months ago, hardly anyone knew of credit default swaps, commercial paper, mortgage backed securities, and mark to market accounting. Now, guys like Hank Paulson and Ben Bernanke are household names right up there with Barack Obama and John McCain. It seems that everyone in America woke up a new financial guru because of our [...]

2 comments Read the full article →

Foreclosures

The Future Of Foreclosure Actions???

by Tom Koziol | June 20, 2008

Someone once said to be careful of what you wish for as you may just get it. The voices clamoring for court help with foreclosures are getting their day in the sun in New York at least according to an article that appeared in the June 19th New York Times. If you read the article, [...]

6 comments Read the full article →

← Previous Entries

Next Entries →