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• Foreclosures in the Shadows: Surprise Discounts Emerge For Forclosed Homes May 28, 2012
  There’s something new in the foreclosure marketplace, not just the “deep discounts” described by the National Association of Realtors. Source:Foreclosures in the Shadows: Surprise Discounts Emerge For Forclosed Homes Related posts: 11 Metros with 50% Foreclosure Discounts If you’re looking to save big on a foreclosure purchase,... New Foreclosure Hot Spots E […]
• Should We Combine Auctions & Short Sales May 28, 2012
  Short sales are a big deal and to see why just look at the numbers: The National Association of Realtors reports that in March short sales represented 11 percent of all existing home sales and typically sold with a 16-percent discount. Source:Should We Combine Auctions & Short Sales Related posts: Foreclosure Home Auctions Giving Way to Short Sales […]
• Combining Your Home, With a Holiday Letting Business May 28, 2012
  Ever thought about running a business from home? Well what about the alternative, running your home as a business, well part of it. Many people are now cottoning on to the idea of purchasing an estate, which consists of several dwellings, usually a main home, combined with several smaller out buildings. Source:Combining Your Home, With a [...] Related posts: […]
• REOs Short Circuited by Short Sales May 27, 2012
  In New York last week, I got the chance to sit down with Fred Katayama of Reuters to discuss the foreclosure numbers, which show that bank repossessions (REOs) dropped to a 49-month low in April. Source:REOs Short Circuited by Short Sales Related posts: Rejected Short Sale Offer – Common Reason That Short Sales Often Don't Close Nowadays, people [...] R […]
• Mortgage Inquiries Slide Ahead of Holiday May 27, 2012
  Fewer pricing inquiries were pulled by mortgage loan originators ahead of the Memorial Day weekend despite new record-low interest rates. But home purchase financing and government-insured activity held steady. A 6 percent decline in new activity from last week left the U.S. Mortgage Market Index from Mortech Inc. and Mortgage Daily for the week ended May [. […]
• Understanding Reverse Mortgage Insurance Premiums: Is Insurance Really Necessary? May 27, 2012
  Seniors who take advantage of the reverse mortgage programs offered by the Department of Housing and Urban Development (HUD) will be expected to pay two distinct mortgage insurance premiums. The first will be an upfront mortgage insurance premium, or MIP, that is collected by the Federal Housing Administration (FHA) immediately after the loan is closed. [... […]
• Mortgage Broker Processing Advice – Why Hiring Independent External Firms Is Recommended May 27, 2012
  Mortgage brokers are very essential players in any housing industry. There are several brokers in the US housing industry. Source:Mortgage Broker Processing Advice – Why Hiring Independent External Firms Is Recommended Related posts: What Does an Independent Mortgage Broker Do? Even during this credit crunch time and the so called... Independent Mortgage Adv […]
• Will Principal Write-Offs Increase Foreclosure Discounts? May 26, 2012
  There’s a new plan floating around in Washington to end the foreclosure crisis. The thought is that we can keep more people in their homes if we reduce the size of their mortgage debt. Source:Will Principal Write-Offs Increase Foreclosure Discounts? Related posts: Why Lenders Have Begun To Accept Foreclosure Write-Offs The term “cramdown” used to be a [...] […]
• New Business Tumbles at Freddie May 26, 2012
  New business sank to the lowest level since last summer at the Federal Home Loan Mortgage Corp., and the book of business has fallen by more than $100 billion during the past year. While there was no change in the rate of residential delinquency, performance on apartment loans deteriorated. The McLean, Va.-based company reported that purchases [...] Related […]
• NovaStar Distances Itself from Subprime Era May 26, 2012
  With a new name in hand, NovaStar Financial Inc. is closing the book on its subprime mortgage past. The Kansas City, Mo.-based company disclosed in January 2008 plans to eliminate most of its staff and discontinue retail and wholesale mortgage originations in a move intended to preserve cash and reduce debt. All of its lending licenses were [...] Related pos […]