UPLAND SHORT SALE AGENTS HELP AVOID FORECLOSURE
Don't make the biggest mistake ever... Do not let the bank foreclose on your Upland home!
Loan modification is a temporary fix and can still leave you with…
ContinueAdded by Garrigus Real Estate Group on January 7, 2013 at 7:31am — No Comments
I have to say that I am EXTREMELY pleased that the Mortgage Debt Forgiveness Relief Act has been extended for another year. If you are a homeowner in distress this is not the time to sit back and relax because there is not guarantee that this will be extended after the end of this year. This is the time for YOU…
ContinueAdded by D'Adrea Davie on January 6, 2013 at 6:34am — No Comments
As part of the fiscal cliff deal, Congress extended the cancellation of mortgage debt relief provision, also known as the Mortgage Debt Relief Act for one…
ContinueAdded by Jason Opland on January 3, 2013 at 6:56am — No Comments
Are you looking for a deal in a Short Sale or Bank Owned home in Santa Clara County? If so, don't bother. The inventory of distressed properties in the county is so low it is not worth doing a specific search for either a short sale or…
ContinueAdded by Marcy Moyer on January 2, 2013 at 10:34am — No Comments
Dedicated to bringing homeowners across the nation the latest news on short sales, we’ve discovered new information on the Home Affordable Foreclosure Alternatives program (HAFA) for 2013. Let’s explore the updates on HAFA’s success for 2012, what these new policies are for 2013, and when they will be in effect.
For those who do not know what HAFA is, it is a…
ContinueAdded by Peter J Kim on December 23, 2012 at 9:53pm — No Comments
Whether you are dealing or have dealt with a short sale, foreclosure, BK, delinquency on your mortgage payments, or have a number of late payments elsewhere, your credit score is damaged and your finances are most likely in lockstep. However, recovering with bad credit will be difficult as interest rates inflate the cost of living and affect various…
ContinueAdded by Peter J Kim on December 16, 2012 at 10:21pm — No Comments
According to the Obama Administration’s October (2012) housing scorecard and “[…]the FHFA housing price index posting its largest annual gain in five years and new home sales at its fastest pace since April 2010” (Erika Poethig, assistant secretary for policy development and research at the Department of Housing and Urban Development) as well as numerous other sources, we can confidently say we have a…
ContinueAdded by Peter J Kim on November 26, 2012 at 5:43pm — No Comments
Barack Obama was elected for his second term as president of the United States and now it’s time for action especially in the distressed housing sector which has affected millions of Americans around the nation. Both houses of congress unanimously agree that the mortgage forgiveness debt relief act is a good policy and support an extension. However, there is no concrete evidence of an extension yet which will be detrimental to all distressed homeowners. How and when will this policy be…
ContinueAdded by Peter J Kim on November 12, 2012 at 6:43am — No Comments
Tomorrow is the election day of our presidential candidates and homeowners all across the nation are waiting in anticipation for their respective candidate to rescue us from our current economic crisis.…
ContinueAdded by Peter J Kim on November 5, 2012 at 5:45am — No Comments
If you are at risk of foreclosure, you might want to know what the consequences are in the event that it happens to you. The evident and inevitable effect a foreclosure has is the ding on your FICO score as well as the foreclosure stamp on your credit report. This will make it very difficult for you to obtain any credit or even find alternative housing or employment. However, is that all to the negative effects of a foreclosure? Let’s explore deficiency judgments after…
ContinueAdded by Peter J Kim on October 22, 2012 at 9:50am — No Comments
By now you are probably telling yourself, having an investment property is not as easy as you thought. To make matters worse, your property is now underwater and it shifted from an Asset to a Liability. It is a liability because you may be dealing with negative cash flow, accruing repair costs, vacancy, and most importantly, it is underwater meaning you owe more on the home than it is worth. Let’s explore some options.
Added by Peter J Kim on October 9, 2012 at 8:49am — No Comments
“Walking away from my property” is a phrase often used by struggling homeowners who are considering allowing their homes to fall into foreclosure. However, the phrase does not accurately depict what negative effects a foreclosure actually has on a borrower’s situation yet many believe that it is as simple as letting your home fall into foreclosure and walking away. That is certainly an understatement and I will tell you why.
Think about the basic situation. You borrowed money from X…
ContinueAdded by Peter J Kim on October 1, 2012 at 7:51am — No Comments
Added by Michael Collins, CDPE, SFR on September 27, 2012 at 3:50am — No Comments
Trying to figure out what the best financial option is for your living situation? If you live in Seattle or other major areas in Washington State, some statistics may help you put into better perspective how you should handle your future living situation.
The first nugget of information is from an article by MSN 5 Places Where Renting Beats Owning. Seattle was one of the lucky five stated…
ContinueAdded by Peter J Kim on September 24, 2012 at 12:13pm — No Comments
Added by Ruth Jacobs on September 12, 2012 at 2:31am — No Comments
Improvements and more improvements have been the recurring case for the government sponsored enterprises Freddie Mac and Fannie Mae. Although these GSE’s (Government Sponsored Enterprise) had a slow start in finding the right solutions for the housing crisis we are facing, the momentum for improvements via federal guidelines have picked up speed. The Goal: Get through distressed properties quickly to catalyze the housing recovery. How? Streamline their short…
ContinueAdded by Peter J Kim on September 4, 2012 at 7:53am — No Comments
Your Credit Score
When you foreclose on a home your credit will be altered for about 5+ years, to say the least. However, when you do a short sale your credit is also affected, but for a much shorter time period and less damage is done. The truth is there is no concrete answer as to how many points it will affect your score. Every person has his or her own FICO and each individual’s score will vary. What I can tell you is the late payments are typically what have the…
Added by Mona Salem on September 1, 2012 at 9:27am — No Comments
Many homeowners are now capable of purchasing a home with the all-time low home prices and interest rates. Short sales and Foreclosure/REO properties offer cream of the crop deals that are difficult to simply pass by. If you are looking into the housing market, it is wise to adequately educate yourself especially when looking into distressed properties.
The big question we’ve been getting is, is a short sale or a foreclosed property the better deal? Below is a large pros and cons list…
ContinueAdded by Peter J Kim on August 27, 2012 at 9:19am — No Comments
Rent rates are continuously increasing in our country while home prices and mortgage interest rates have hit unprecedented lows making home buying more feasible. Home buying now would be a great investment if your specific financial situation permits but let’s explore the time frame of this window of opportunity.
Am I losing my chance to snatch me a discounted home?
To be blunt, NO ONE can say for sure where the direction of the market will go.…
ContinueAdded by Peter J Kim on August 21, 2012 at 10:49am — No Comments
http://www.youtube.com/watch?v=KqMxoNoy_hQ&feature=player_embedded
Are you in pre-foreclosure or can foresee yourself in foreclosure status in the near future? You are not alone my friend. There are government sponsored HUD counselors available for you in your area who can help you explore your options and choose the best…
ContinueAdded by Peter J Kim on August 13, 2012 at 9:51am — 4 Comments
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Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.