The Homeownership Rate continues to drop
Tuesday, March 01
Barron’s Magazine recently had an article titled "Renter Nation." In it, they detailed the various factors at work that will reduce the homeownership rate in America. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. The homeownership rate has alread...
What is a HUD-1 and why does it matter on a Short Sale?
Monday, February 28
Here is something that drives inexperienced short sale agents crazy. It is a HUD-1, also called a HUD. HUD is the Federal Agency, the Department of Housing & Urban Development, also called HUD. A HUD-1 is a document regulated by HUD. It is the financial accounting for a real estate sale. Her...
What can go bad when you hire an agent that doesn't understand short sales
Friday, February 25
It always amazes me when I hear the stories of agents who talk about horrible short sales are. "Don't waste your time on a short sale", they tell homeowners. "They are a waste of time. The lenders won't approve them and the process is horrible. The last short sale I worked on took 9 months", the...
Homeowner Takes On Lender and Wins!
Wednesday, February 23
According to the Philadelphia Inquirer [1], Patrick Rodgers of West Philadelphia was able to "file a foreclosure action against Wells Fargo. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. I bet there are a lot of homeowners facing foreclosure that ...
The Average Homeowner Can Live 492 Days Rent Free
Tuesday, February 22
According to the Wall Street Journal [1], the average homeowner with a home in foreclosure hasn't made a payment in 492 days. What's even crazier is that those homes are still in the foreclosure process. That means that a homeowner can live rent free for even longer than 492 days. How long could...
If You Bought At The Market's Peak, Does It Make Sense To Short Sale Your Home?
Monday, February 21
Many homeowners bought their home at the peak of the market. In the hardest hit areas, they paid $500,000 for homes that are not selling for $250,000 (or even less.) Their home is costing them $4,000 a month. (That is the total after paying property taxes and insurance.) Renters have moved into ...