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Archive for April, 2013

Wealth Gap Creates More Foreclosures and Short Sales

Wealth Gap Creates More Foreclosures and Short Sales

The worst of the foreclosure crisis seems over, if you can accept the idea that today’s foreclosure levels are in any way acceptable. Many of the foreclosures and short sales seen today actually have their roots in the period between 2000 and 2008 when lending standards went out the window. Today, with the better underwriting […]

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Should Paid-Off Medical Bills Damage Credit Scores?

Should Paid-Off Medical Bills Damage Credit Scores?

There are a lot of people who do not get home mortgages or automobile financing because of events which are far beyond their control, especially medical bills. Now there is an effort on Capitol Hill that would limit the way health costs are listed on credit reports and thus how they impact credit scores. “Illness […]

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Are Cash Investors Missing Real Estate Profits?

Are Cash Investors Missing Real Estate Profits?

There are a lot of real estate investors who finance with cash but are they getting the best deals? According to the National Association of Realtors, 32 percent of all existing home transactions in February were cash deals. On many levels such an approach to financing makes sense: There are no loan applications, no mortgage […]

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1st Quarter Foreclosures Drop 12%, Says RealtyTrac

1st Quarter Foreclosures Drop 12%, Says RealtyTrac

Quarterly foreclosure filings are down significantly from 2012 — but that big problems remain. The latest figures from Realtytrac show that foreclosure filings in the first quarter — default notices, scheduled auctions and bank repossessions — were reported on 442,117 U.S. properties. That’s down 12 percent from the previous quarter and down 23 percent from the first quarter of 2012. […]

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Who Will Get The Real Mortgage Crisis Profits?

Who Will Get The Real Mortgage Crisis Profits?

The stock market has reached new highs, home sales are soaring while interest rates are in the pits. All of this would seem to suggest that the end of the mortgage crisis is here, but with weak employment gains and declining household incomes much of the public thinks the economic recovery is a myth. They’re […]

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Are Three Missed Payments Required For FHA Short Sales?

Are Three Missed Payments Required For FHA Short Sales?

Question: In a short sale where the financing was insured by the FHA is the borrower first required to miss three payments? This was the advice given by a lender before it would allow a short sale to go forward. Answer: We sent this question over to HUD and received this response: “The information is […]

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