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Posts tagged 'real estate short sales'
Written by: Christopher Gordon | Publish date: August 9th, 2010
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 purchases was extended to the end of September. Overall, the number of pre-occupied home sales dropped 5.1%. Even though mortgage rates are extremely low these days, the number of jobless citizens and foreclosures has remained high. And while the number of sales dwindles, the number [...]
Written by: Christopher Gordon | Publish date: June 21st, 2010
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 buyers. NHSA Chairman of the Board of Directors, Bruce Gottschall, said, “Neighborhood Housing Services of America has been a strong supporter of the community development field for 35 years. NHSA has arranged responsible mortgage financing for thousands of homeowners who otherwise would have been unable [...]
Written by: Christopher Gordon | Publish date: June 21st, 2010
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, with the potential of having to deal with yet another principal limit reduction for the FHA’s reverse mortgage program, the US Department of Housing and Urban Development (HUD) is presently working on a quick solution to eliminate the necessity for the $250 million appropriation requested [...]
Written by: Christopher Gordon | Publish date: June 21st, 2010
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 more aggressive now. They’re starting to really take things into hand, calling up and saying, ‘What’s the real number? How can we get this sold?’ They want to step in. They want to get it done,’” said Corcoran Group’s Chief Executive, Pam Liebman. According to [...]
Written by: Timothy McFarlin | Publish date: November 21st, 2009
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
Written by: Timothy McFarlin | Publish date: August 28th, 2009
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.
