Home Sales Drop as Number of Unsold Homes Hits 4M
According to the National Association of Realtors, the sales of pre-occupied homes plummeted back in June and are projected to continue falling. Needless to say, this news is not good for the already flailing housing market—though analysts expected worse. Federal tax credits have contributed to random bursts of sales, and recently the deadline to close read more »
NHSA Closing its Doors After 35 Years of Service
Due to recent housing downturns and lack of funding, Neighborhood Housing Services of America (NHSA), a 35 year old nonprofit, providing assistance to many homeowners, is closing its doors and services. For years, NHSA raised funds from the private sector to purchase loans from local nonprofit housing organizations, in effort to support low-income, new home read more »
More Money More Problems for FHA & HUD?
Those who take out home loans, guaranteed by the federal Housing Administration, may soon find themselves paying big fees as the House has recently passed a bill allowing the FHA to hike monthly premiums as they see fit. For instance, a borrower maintaining a $170,000 mortgage might possibly pay an additional $42 a month. Meanwhile, read more »
Banks Ease Hold on Properties
According to real estate insiders, institutions and organizations lending capital to real estate investors are beginning to lighten their grip on properties, thus, putting more real estate out there. Presently, the multifamily real estate arena is in strong demand; more banks are looking to rid of properties from their records. “They seem like they’re much read more »
Why Short Sales and Modifications Take So Long — and What to Do About It
For people looking to buy distressed property, it is a lot faster and easier to buy a foreclosure than a short sale because the bank has already taken back the property and wiped out the liens
Short Sale vs. Foreclosure
Homeowners that can’t meet the demands of lenders in a timely manner, whatever the reason may be, are subject to seizure and the loss of their home.