Archive for February, 2010
Is Foreclosure Flipping Legal & Legit?
If by foreclosure flipping we mean quickly buying and re-selling a foreclosed property bought from a lender then there’s no reason why such a transaction cannot be legal and legit. Think about stock. You buy stock in the morning and sell it in the evening. You flipped the stock. Does anyone care? No. Think about [...]
14Feb2010 | Peter G. Miller | 0 comments | Continued
What Is The BPO Foreclosure Connection?
When lenders take back a property through the foreclosure process they want two things: They want to know how much it’s worth and they want to know as cheaply as possible. One way to determine value would be to get an appraisal of the property. Appraisals are independent estimates of value developed by licensed appraisers, [...]
13Feb2010 | Peter G. Miller | 0 comments | Continued
Who Pays Foreclosure Closing Costs?
To figure out who will pay foreclosure closing costs you first have to ask about the foreclosure discount in your area. In basic terms the foreclosure discount is the difference between the value of a home today and the value of a similar, but foreclosed or distressed, property. In many markets there has traditionally been [...]
12Feb2010 | Peter G. Miller | 0 comments | Continued
Credit Cards Or Mortgages: Which To Pay First?
Conventional wisdom has it that folks will use their last dollar to pay their mortgage while other bills remain unpaid, but a new study says otherwise. A new study by TransUnion, the big credit reporting agency, says there is now a new payment hierarchy where consumers pay their credit cards before their mortgages. “The percentage [...]
4Feb2010 | Peter G. Miller | 0 comments | Continued
What Paperwork Do You Need To Get A Mortgage?
One of the biggest problems with the government’s Making Home Affordable loan modification program is that a large number of borrowers are making their payments but do not provide required paperwork — and thus are unable to permanently refinance their mortgage with a new and lower rate. Because they did not provide required paperwork these [...]
1Feb2010 | Peter G. Miller | 0 comments | Continued
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