Added by Danielle Sound on September 24, 2014 at 4:19am — No Comments
Ignoring Potentially 21%
In April, 2014, RealtyTrac came out with a report that showed that 1) 9.1 million, or 17% of all US mortgages (total number of US mortgages calculated at over 53.5 million) were STILL seriously underwater, where the loan amount is higher than the property value. Housing values in many areas are coming back, but not enough to put many of the 9.1 million still underwater homeowners into a positive equity position.
In March of 2013, 2) RealtyTrac…
Added by Pam Marron on May 29, 2014 at 1:47am — No Comments
First-time homebuyers are searching for affordable homes; however those homes are a rare find on the market because of the negative equity on most of those homes. According to the first quarter of Zillow® Negative Equity Report, almost 9.7 million homeowners are underwater.
Homeowners who owe more on their mortgage than the house is worth are in a sticky situation. This is usually because they have…
ContinueAdded by Trang Huynh on May 21, 2014 at 10:30am — No Comments
I just wanted to drop you a note to express my heartfelt thanks for being there when someone needs you. All too often, the pursuit of wealth and duplicity associated with gaining the inside track to the "All-Mighty Dollar" seems to win over and corrupt even the most honest & upright individuals among us. Thankfully, you are not among them!
We have known each other for a short 2-3 years but it seems as though we've known each other forever. We are kindred spirits, you & I.…
Added by Janet Reiner on January 30, 2014 at 11:04am — No Comments
I would highly recommend the MIRS Service to family and friends. In fact - I have already done so. Janet was not only competent, extremely knowledgeable and factual, but she has always followed up on commitments she made to me. After the COTA was complete, she was also able to refer me to an attorney, Dale Wiley who was successful in stopping the foreclosure process on my home. The whole process was a pleasant one. The end result was what I had expected, no surprises- which was such a…
ContinueAdded by Janet Reiner on January 28, 2014 at 9:19am — No Comments
Added by David Heroux on November 5, 2013 at 6:54am — No Comments
Short sales are notorious for their duration to close. It was only years ago when we saw short sales take sometimes up to 2 years to close, causing insurmountable stress to all parties, especially to the seller. So why do short sales take so long? One could easily blame the banks for the delay. However, that accusation does not apply to most banks in 2013. Systems have been upgraded, buyers are buying, and incentives to short sell for both banks and sellers have boosted. So why would a short…
ContinueAdded by Peter J Kim on March 25, 2013 at 7:17am — 1 Comment
FOR IMMEDIATE RELEASE For more information, please contact:
Michael Collins, CDPE, SFR, BPOR
608-921-8536
[email protected]
Local Agent Provides Alternatives for Homeowners Facing Foreclosure
Online report outlines alternatives to foreclosure for distressed homeowners in Dane & Rock County Wisconsin, including Janesville, Madison, Milton, Stoughton, Oregon, Monona, Edgerton, McFarland, Evansville, Verona, Fitchburg,…
ContinueAdded by Michael Collins, CDPE, SFR on March 19, 2013 at 10:16am — No Comments
The three big options for homeowners are short sales, loan modifications and refinance. What have you seen that actually worked?
Options: Refinance, Loan Modification, Short sale.
Refinance
Basics: Refinancing is when you are paying off your old loan with a new loan with lower interest rates.
Added by Peter J Kim on March 18, 2013 at 7:31am — 1 Comment
It’s a sign of the times!
Most of us grew up thinking that if we planned well and played by the rules, we’d never have to stand by as our financial lives unraveled.
But upheaval on Wall Street, unacceptable rates of unemployment and plummeting real estate values have taken their toll. Since 2007, 7.9 million homeowners have lost their homes to foreclosure. Current estimates are that one in four homeowners owe more on their mortgages than they could get from the sale of…
ContinueAdded by Michael Collins, CDPE, SFR on March 13, 2013 at 2:58am — No Comments
In my previous blog post, I estimated that in 2014, home prices were expected to rebound. 2012 however surprised all of us with sharp price increases. What is causing this price increase? A number of factors may play into it but one of the main variables is the lack of supply thus increasing demand and prices. It is a seller's market and will probably remain until the latter half of this year. However, I don't believe this will last.
Based off our research, there is a artificial lack…
ContinueAdded by Peter J Kim on March 4, 2013 at 4:30am — No Comments
Many people ask me whether we made a mistake in our company name, Short Sail Solutions. The answer would be no. Short Sailing is to signify completing a short sale like a short sail (sail –> breeze -> streamlining a short sale).
Short sales have certainly become more streamlined mainly due to a national increase in understanding the process and nature (lenders, servicers, buyers, sellers, and agents) of short sales and also through the contribution of government intervention and…
ContinueAdded by Peter J Kim on February 18, 2013 at 11:05am — 1 Comment
PDF Version of this article - 10 Underwater Homeowner Options
Slipping toward foreclosure can lead to feelings of anxiety, depression, and loss of self-esteem. Don’t give up. There are options available to help millions of homeowners rescue themselves from…
ContinueAdded by Michael Collins, CDPE, SFR on February 13, 2013 at 7:25am — 2 Comments
Short sale lease back programs have been around for quite some time now. In an SSLB program, the homeowner short sells their home and subsequently rents from the new owner upon closing the sale. Most of these type of programs have been fraudulent by nature but…
ContinueAdded by Peter J Kim on February 8, 2013 at 8:30am — 1 Comment
If you are one of the smart homeowners who were involved in mortgage restructuring or a short sale in 2012, tax time is an IMPORTANT season for you. There are tax implications associated with debt cancellation/mortgage forgiveness. For those who have been involved this year, here are instructions and tips from Seattleshortsaleblog on how to…
ContinueAdded by Peter J Kim on January 28, 2013 at 6:58am — No Comments
The Consumer Financial Protection Bureau is finalizing the “Ability-to-Repay” rule which requires lenders to obtain and verify information to determine whether a consumer can afford to repay the mortgage. Our belief is the 2013 ATR final rule…
ContinueAdded by Peter J Kim on January 22, 2013 at 10:14am — 2 Comments
Greetings! I want to quickly update everybody on some new Real Estate news that everybody needs to know:
Added by Kevin Bown on January 21, 2013 at 1:40pm — No Comments
If you are the Personal Representative for a San Bruno Home in Probate that has a delinquent mortgage, but there is equity in the home, DON'T BE AN OSTRICH!!!!!!
It is now very common for San Bruno homes that are in Probate to have mortgages. Many homeowners were enticed to…
ContinueAdded by Marcy Moyer on January 10, 2013 at 9:30am — No Comments
A ray of good news shined through the ominous clouds of the fiscal cliff this past week stating that the Mortgage Forgiveness Debt Relief Act has officially been extended. Through this act, homeowners who are involved in a short sale, foreclosure, or mortgage restructuring are able evade a significant tax bill.
However, the storm is…
ContinueAdded by Peter J Kim on January 8, 2013 at 10:39am — No Comments
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