Quantcast

Tag: foreclosure

FHA Mortgages Face New Loan Competition

FHA Mortgages Face New Loan Competition

FHA mortgages have been under fire for a very long time, not because they’re a “bad” form of financing but because they’re an example of government directly competing with the private mortgage insurance companies. To resolve this “problem” there have been various back-door efforts to scuttle the FHA program, but now the lending industry is […]

Posted in: News
Auction.com Set To Sell American Chopper Building

Auction.com Set To Sell American Chopper Building

American Chopper is back in the news. The company’s iconic headquarters building – which symbolized the enormous success attained by Orange County Choppers – will soon be auctioned off. American Chopper was unlike any television show in recent memory, or maybe ever. Over 165 episodes it illustrated the inner workings of the American workplace, something […]

Posted in: News
What’s The “MARS Rule” in Real Estate?

What’s The “MARS Rule” in Real Estate?

Question: We’re interested in buying a local short sale because of the possible discounts. We know that we must reach an agreement with the owner and that the deal must be approved by the lender. Does the broker representing the seller negotiate with the lender to get the best deal? Answer: This is a matter which is […]

Posted in: News
Does Wall Street Home Buying Hurt You?

Does Wall Street Home Buying Hurt You?

Question: Wall Street firms are buying up huge numbers of single-family homes. How does this impact private home buyers? Answer: We usually think of single-home real estate investors as local people who buy several properties and keep them over time or as rehabbers who buy properties, fix them up and then quickly re-sell. The entry […]

Posted in: News
Fast Refinancing After A Short Sale — Here’s How

Fast Refinancing After A Short Sale — Here’s How

Question: We did a short sale on our home in May 2012. We then bought a house with cash in Oct 2012. Can we get a fast refinancing on our current home? Answer: A short-sale is a situation where a home has been sold for less than the mortgage debt, meaning the lender has taken […]

Posted in: News
Will Lenders Accept Partial Mortgage Payments?

Will Lenders Accept Partial Mortgage Payments?

Question: Can you tell me why it’s okay for mortgage companies to reject partial payments when a borrower is behind? It seems to me that it’s bad business and not too good for the economy. Answer: Many mortgage servicers — but not all — are reluctant to accept partial mortgage payments from delinquent borrowers because they […]

Posted in: News
Real Estate: Vet Faces Foreclosure For Flying American Flag

Real Estate: Vet Faces Foreclosure For Flying American Flag

On no, it’s happened again. A homeowners association is irate because someone is flying an American flag. According to various news reports 73-year-old Air Force vet Larry Murphree is allegedly facing foreclosure because of the manner in which he displays the American flag at his Florida condo. Murphree has a small flag in a flower […]

Posted in: News
Subprime Mortgages: 50 Shades of Risk

Subprime Mortgages: 50 Shades of Risk

Subprime mortgages continue to be the riskiest type of mortgage you can get — and yet things are looking better for both subprime borrowers and subprime lenders. How can that be? Subprime mortgages are a form of financing designed for those with impaired credit. That’s a polite term for individuals who have low credit scores, […]

Posted in: News
Real Estate For Vampires And Zombies

Real Estate For Vampires And Zombies

Vampire REOs and zombie foreclosures are the two most-graphic housing casualties of the foreclosure meltdown. Forms of real estate first identified by RealtyTrac Vice President Daren Blomquist, these strange properties are likely alive and very well in your community, indeed — they may be right down the block. So what are they? Essentially, vampire REOs […]

Posted in: News
FHA Back To Work Mortgages — New Loans In 12 Months

FHA Back To Work Mortgages — New Loans In 12 Months

If you’ve been shut-off from new mortgage financing because of hard times you might want to take a look at the new FHA Back To Work mortgage program. Here, finally, is a program which can allow you to get an FHA loan in as little as 12 months after a foreclosure, short sale or deed-in-lieu […]

Posted in: News