Alternatives to Foreclosure in the Los Angeles Area
If you or someone you know in the Los Angeles area is having a difficult time with their home mortgage payments, it is especially important to know what the alternatives to foreclosure might be. Two of the most talked about alternatives are Loan Modification and Short Sale.
Added by Sara Mehrpouyan Los Angeles CDPE on November 30, 2011 at 9:44pm — No Comments
Getting a short sale approved is no easy task. Buyers can, and do, walk away if they feel the transaction is taking too long. Mortgage insurance companies frequently demand unreasonably high contributions from the seller, thus killing the deal. Servicing rights can be transferred to a new lender mid-…Continue
Added by Andrew Coppo on November 30, 2011 at 5:52pm — No Comments
Is anyone else noticing this? We are now on our fifth property where Fannie Mae is requesting about 45% more than the market value of the short sale home.
At first I thought it was a fluke, but now it is turning into a regular occurrence.
Even though this value will not hold up under an FHA or an FHA203k appraisal and there will be months and months of time lost while we go round and round the merry-go-round, Fannie Mae continues to give us these unsaleable counters.
Added by Dawn Maloney on November 30, 2011 at 9:33am — No Comments
There have been some recent numbers and percentages being released concerning different polls and surveys the National Association of Realtors has conducted. These numbers work to paint a solid picture of what buyers really do care about in terms of their agent and how they are represented.
From the start you can say with certainty that people are not concerned about how…Continue
Added by Tim Brown on November 29, 2011 at 5:56pm — No Comments
Everyday a new adventure!
We have a Short Sale agreed to.
Closing 11/29 - has to be funded by 11/30.
The 11/27 walk though found that the copper had been stolen.
PS - We are in the Northeast & property is hot water heated - lots of copper!
Any experience you can share?
What did you do?
How did it work?
Added by Mike Netzel on November 28, 2011 at 9:29am — No Comments
Added by Bryant Tutas on November 27, 2011 at 8:13am — No Comments
Added by Charles Walk on November 25, 2011 at 11:48pm — No Comments
If you are someone that is jumping into the real estate river for the first time then this may be a new concept for you and may be something you really have no idea about.
So what exactly is a…Continue
If you can not pay your mortgage you might want to do something about it sooner rather than later. Here's why:
1. The Mortgage Debt Relief Act of 2007 is set to expire at the end of 2012
2. This act says that if you sell your primary residence as a short sale or it is foreclosed then no federal tax is owned on the debt foregiveness, the difference between what you owe and what the bank was paid back after the…Continue
Added by Marcy Moyer on November 21, 2011 at 9:33pm — No Comments
Added by Bryant Tutas on November 20, 2011 at 4:28am — No Comments
I am so proud to say that we just assisted another Johnson County KS homeowner seeking to short sell their Shawnee home.
The loan was an FHA insured with BB&T and frankly, was one of the best experiences I have had in working with a bank/investor on a short sale. I found it very easy to communicate with BB&T's short sale specialist which made the process run smoothly and to the benefit of BB&T and FHA.
Added by Suzanne Hinton on November 18, 2011 at 6:29pm — No Comments
In today’s real estate market situation, selling your home can be tough and stressful at times. But there are better ways that you can do to speed up the selling process of your home in the tough market. Giving attention to simple details, matching colors, and making the room look more appealing can attract buyer's attention and possibly buy your home.
Focusing your attention to simple details such as searching for the tips on how to speed up the process of home selling can…Continue
Added by Ann Johnson on November 18, 2011 at 12:30am — No Comments
Today I was thinking that if the home owner is not paying the mortgage than most likely the insurance is also gone by the way side. My question is this:
Will the bank place insurance on the property and if so how much liablity.?
Will that protect the home owner,family and guests from injury while living in the property?
What about when it gets listed and people interested for some reason need to enter the property and gets injured?
What happens than, who…Continue
I've lately been having many friends and clients receiving certified mail from their "lender" (but it actually seems to be from the govt) saying they are qualified to get a lower rate through the HARP program.....that it will be easy and all they have to do is fill out a few papers. These are owners that have never had a late or missed payment as well. So far, I havent heard of ANY of my clients getting this lower rate very…Continue
Added by Cassie Pivniska on November 17, 2011 at 3:55pm — No Comments
There is a $1600 difference between what B of A will give the second and what the second deed of trust wants. The buyer is willing to pay this but our negotiator says Bank will not approve this. We suggested that the buyers agent pay this and get reimbursed from seller concession but still we are told no go. Any ideas?
Yesterday we released new functionality to simplify searches and removed some existing functionality. We have heard from many of you that this is not the way you like to work, and will be restoring previous functionality tonight. We apologize for any confusion this may have caused. Thanks for using Equator.
The Equator Team
Added by Public Relations on November 17, 2011 at 9:26am — No Comments
Kevin and Fred discuss buyer's agents that simply aren't getting the job…Continue
USA article last week indicated Arizona will be out of the woods regarding short sales and reo properties with one year.
We normally have 45,000 for sale in Maricopa County...today 19,000. We close over 9,000 homes a month. Inventory is less than 4 months.