All Posts Tagged With: "distressed"
Foreclosure Discount Gets Bigger & Bigger
Buy low and sell high is a traditional real estate investing strategy and with good reason: Unlike the stock market you can’t sell homes short and make a dime. Thus it makes considerable sense to buy property at the lowest possible price and that brings us to RealtyTrac’s foreclosure report for the second quarter: “The [...]
26Aug2011 | Peter G. Miller | 1 comment | Continued
Mortgage foreclosure rescue scams (finally) blocked by feds
New rules from the Federal Trade Commission will make it more difficult and costly for bogus loan modification and foreclosure rescue companies to operate nationwide. Unfortunately, the rules are weaker than the standards now used by several states. Under the Mortgage Assistance Relief Services rule, the FTC says that mortgage foreclosure rescue and loan modification [...]
20Nov2010 | Peter G. Miller | 0 comments | Continued
VA Compromise Loans Help Vets Avoid Mortgage Foreclosure
American service members underwater on their VA mortgage are facing some grim realities when trying to sell their homes. Values have plummeted in the current market, which can create a devastating gap between what a veteran can sell their home for and what they still owe on their loan. But the VA, which has an [...]
3Nov2010 | Chris Birk | 1 comment | Continued
FHA “Short Refinance” — Is This The Way To Reduce Foreclosures?
Imagine that you have a mortgage and want to refinance to get a lower rate but the debt is greater than the value of the home. Imagine also that if you can refinance you can avoid foreclosure. The government is now trying to address this scenario, something which is common across the country, especially for [...]
9Aug2010 | Peter G. Miller | 2 comments | Continued
Military Borrowers Squeezed Out of Distressed Markets
Purchasing a home in a distressed real estate market can present some unique challenges for military buyers, not just in hard-hit states like Nevada and California but across the country. Active duty service members and veterans in some parts of the country are getting pushed out of the foreclosure market, hampered by a combination of [...]
5Aug2010 | Chris Birk | 0 comments | Continued
Mortgage Modifications: Bush Versus Obama
It’s beginning to look like the government’s efforts to modify troubled home loans is beginning to pay off. As of the end of February more than 170,000 borrowers had obtained permanent mortgage modifications while more than 1 million more under the Making Home Affordable program are involved in trial modifications that could result in better [...]
15Mar2010 | Peter G. Miller | 0 comments | Continued
What are foreclosure brokers?
It used to be that foreclosures were rare events. About .5 percent of all home loans were foreclosed in a year, a figure which reached 4.58 percent in the fourth quarter of 2009 according to the Mortgage Bankers Association. The huge foreclosure surge has not happened everywhere — some areas have seen vastly more foreclosures [...]
2Mar2010 | Peter G. Miller | 0 comments | Continued
How Can I Buy A Bank Owned Property Foreclosure?
It should be a simple task to buy a bank-owned foreclosure, but innumerable purchasers report long waits, lots of paperwork and unsatisfactory dealings with lenders. Why this should be is unclear because buyers want to buy and lenders do not want to be in the real estate ownership business. The first issue is finding a [...]
17Feb2010 | Peter G. Miller | 0 comments | Continued
2009 Home Sales Up, But Values Down
Real estate sales reached nearly 5.2 million in 2009, up 4.9 percent from 2008 according to the National Association of Realtors. The increase was the first annual rise since 2005. In terms of prices, NAR says for all of 2009, the median price for a single-family existing home was $173,200, down 11.9 percent from 2008. [...]
26Jan2010 | Peter G. Miller | 0 comments | Continued
Real Estate: Second Quarter Sales Rise, Prices Fall
Existing-home sales in the second quarter showed healthy gains from the first quarter in the vast majority of states, according to the latest survey by the National Association of Realtors. However, prices continued to fall in most markets. Total state existing-home sales, including single-family and condo, rose 3.8 percent to a seasonally adjusted annual rate [...]
12Aug2009 | Peter G. Miller | 0 comments | Continued
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