27th October 2009
The US, though recovering from the economic crisis, still has higher unemployment than the past four decades, and this stress on the economy and real estate industry has prompted federal regulators to try to step in. The Federal Deposit Insurance Corporat...
22nd October 2009
If you have recently lost possession of your house to a painful foreclosure or short sale, there's a chance you may be able to afford a new home within the next two years if you get on it right away and stay diligent and dedicated to fixing your credit ra...
22nd October 2009
The Federal Government is planning to announce news plans to increase and broaden mortgage relief measures in the upcoming days. The new efforts will likely include short sale incentives.
We all know what a short sale is- but we have to take a step bac...
16th October 2009
If you're thinking of getting a short sale done for your in-trouble home to avoid a foreclosure, you should know that a bank is not obligated to sell your house. When a bank or lending institution decides to do a short sale, they have to basically eat th...
15th October 2009
All over the state, banks and lending institutions are growing their loss mitigation departments in order to process more short sale transactions and facilitate loan modifications and reamortizations. In this day and age, most lenders accept short sale re...
08th October 2009
In the wake of the devastating mortgage and lending crisis of 2008 and 2009, Bank of America has emerged as one of the last financially sound commercial and residential lenders in the country, and certainly the most profitable. They have done this by taki...
01st October 2009
According to the latest numbers, pricing on single-family homes in the top twenty metropolitan areas in February had dropped by at least 18 percent from the year before, but the rate of change has slowed showed some hope for the distressed housing market....
29th September 2009
The process of getting a loan modification or resorting to a short sale is complicated, but can be explained in about five main steps.
Step One: Fill out a complete evaluation of your financial situation and your expected recovery value for a foreclosu...
29th September 2009
Just as with a foreclosure, short sales have variable possible tax considerations that you have to take into account when doing your finances and recovering from pulling out of your mortgage. Luckily, the tax ramifications of a real estate short sale tend...
22nd September 2009
Is your variable-rate mortgage resetting higher, leaving you in the dust? Have you lost a job recently, or suddenly had an expensive emergency with a loved one? Have you recently been through a pricey divorce, or had to send your child to college?
In t...
26th August 2009
If The Obama administration can't coax mortgage providers in California into action, perhaps they can shame them. While pushing forward the Mortgage Modification program designed to help millions of American citizens avoid foreclosure, they have been nami...
25th August 2009
Now that most loan servicers have foreclosure prevention programs, people tend to assume that they will never have to go through foreclosure, but that's not the case- not every situation can be so easily resolved. You may not always be able to keep your h...
20th August 2009
Although in the past investors would push servicers to foreclose on those who couldn't make their payments on their mortgages, today investors are all about loss mitigation. Foreclosure, it turns out, is a costly hassle, leading to thousands and thousands...
13th August 2009
There is an alternative to the pain, embarrassment, and credit-ruin that is the modern bank foreclosure, and alternative way to maintain current mortgage payments. One of the admittedly last resort options is the short sale. In these hard economic times, ...
11th August 2009
Although a large amount of national attention has lately been focused on the issue of foreclosures and defaults, another huge problem that is much less well publicized is the issue of property taxes.
When the nation's housing crisis has risked the home...
