Should Investors Focus on Short Sales?
Monday, February 15
YES, because they will continue to be a VERY significant part of real estate investing for at least two years. It is all in the numbers, and “the numbers do not lie”.Real estate website Zillow.com says one of every five U.S. home owners owe more on their mortgage than their home was worth in the ...
AT 75% LTV - Homeowners Consider Walking
Thursday, February 04
According to First American Core Logic 4.5 million home values had fallen to or below 75% of their mortgage balance by the third quarter of 2009. Those numbers are now projected to climb to 5.1 million homes, or approximately 10% of all homes. The 75% threshold is being considered a level where...
FNMA Subsidy for REO Purchases
Tuesday, February 02
FNMA has announced that they will subsidize closing costs or appliance costs up to 3.5% for purchases of its REO properties listed under the Home Path program, which is FNMA’s REO disposition operation. The link to that program is www.HomePath.com . For this incentive properties need to be Owne...
FHA Waives 90 Day Flip Restriction
Saturday, January 16
This is Big News for investors AND a smart move by FHA. Effective February 10, 2010 under waiver of 24 CFR 203.37a(b)(2) the previous restriction preventing FHA buyers from buying a property with less than 90 days title seasoning has been waived for one year as follows: The waiver wil...
Loan Modifications Inadequate - Treasury Encourages Short Sales
Saturday, December 12
According to CNNMoney.com, only about 4% of troubled borrowers have received long-term permanent loan modification help under the Obama administration's foreclosure prevention program. The number of troubled mortgage borrowers currently in trial loan modifications rose to 697,026, up from 650,99...
Short Sales - US Treasury Increased Support
Wednesday, December 02
The US Treasury Department on November 30th announced plans on how to streamline Short Sales. Most agree, although the administration continues to spin it as a success, that the Making Home Affordable program has been less than optimum. Over 650,000 temporary loan modifications have been approve...