All Posts Tagged With: "short sale"
American Chopper’s Paul Sr. To Join Trump’s Celebrity Apprentice
American Chopper’s Paul Teutul, Sr. will join the 2012 cast of Donald Trump’s Celebrity Apprentice, according to an announcement from NBC Entertainment. This, as the expression goes, should be interesting. Teutul is likely to be a strong competitor because — whether a fan or not — he’s an actual, real-life entrepreneur, someone who started with [...]
9Jan2012 | Peter G. Miller | 1 comment | Continued
American Chopper Vs. Jesse James: Who Really Wins?
The stage is set for the most-publicized motorcycle build-off in recent memory. The two-night battle to be shown live from the Hard Rock Cafe in Las Vegas will feature three well-televised bike builders, Paul Teutul Sr. with Orange County Chopper, Paul Teutul, Jr. from PJD designs and Jessie James, the once-host of Discovery’s Monster Garage [...]
28Nov2011 | Peter G. Miller | 19 comments | Continued
Who Pays Foreclosure Property Taxes?
When you purchase a foreclosed property, are you responsible for back taxes? The general answer largely depends on when you buy the property. “If the property was foreclosed and possessed by the bank, the bank will have to pay the back taxes to sell the property with clear title,” says RealtyTrac spokesman Daren Blomquist. “However, [...]
8Nov2011 | Peter G. Miller | 0 comments | Continued
American Chopper — Foreclosure Vs. No Foreclosure
So which is it: Was the Orange County Chopper world headquarters foreclosed or not? The answer as derived from the American Chopper TV show and public information is very simple: Both. Let’s start with foreclosure. It’s plain that a foreclosure action was initiated by the lender, the GE Commercial Finance Business Property Corp. The matter [...]
7Nov2011 | Peter G. Miller | Comments Off | Continued
Why Foreclosure Buybacks Are Wrong
In Detroit they’ve found a “solution” to the foreclosure crisis: Don’t pay your mortgage, don’t pay your taxes, allow the property to be foreclosed, and then buy it back at the tax sale. The Detroit News reports that in the past year “about 200 of nearly 3,700 Detroit properties sold at auction last year that [...]
8Sep2011 | Peter G. Miller | 0 comments | Continued
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
Maryland Rejects Foreclosure-Free Appraisals — What About Your State?
The Maryland House of Delegates has rejected proposed legislation that would have required appraisers to value real estate without using data from foreclosures or short sales. If enacted, the legislation would have ended all mortgage lending in the state because the higher valuations shown in appraisal reports would not reflect marketplace realities. Moreover, the legislation [...]
2Jun2011 | Peter G. Miller | 0 comments | Continued
Struggling VA mortgage borrowers get cash relocation assistance
Veterans who lose their homes to a short sale or a deed-in-lieu of foreclosure can receive up to $1,500 in relocation assistance. The VA has for years encouraged mortgage servicers to work with veterans on the edge of default. Now, the agency has directed its approved servicers to provide that cash advance to borrowers who use [...]
19Jan2011 | Chris Birk | 0 comments | Continued
Foreclosure Discount — 26% Nationwide
A new report from RealtyTrac shows that foreclosure buyers who purchased in the second quarter typically received a 26 percent discount. Other discounts could be had with distressed properties and REOs — real estate owned by lenders. For distressed properties the typical pre-foreclosure discount was 12.97 percent while REO buyers were able to save 34.54 [...]
30Sep2010 | Peter G. Miller | 0 comments | Continued
Why Foreclosure Prevention Is Not Enough
Fannie Mae has opened a new consumer education site which it says “outlines the choices available to homeowners who are struggling with their mortgage payments, and provides guidance on how they can contact and work with their mortgage company to find solutions.” The site, Know Your Options.com, has the usual bells and whistles for a [...]
3Aug2010 | Peter G. Miller | 0 comments | Continued
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