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Category: short sales

How is BOA Short Sale Incentive Test Going in Florida?

Posted on February 3, 2012 in florida, housing news, short sales with no comments

One would think that desperate homeowners would be jumping for joy in Florida with the opportunity of making up to $20,000 as an incentive for selling an under water house through a Short Sale or deeding it back to the bank with a Deed-In-Lieu for foreclosure.  The results of Bank of America’s test program have [...]

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Short Sales Stabilized Neighborhoods?

Posted on January 12, 2012 in REO, foreclosures, short sales with no comments

A popular session at the mortgage industry Five Star MPact Conference in Dallas, Dec. 4-6 focused on the use of bulk short sales to help stabilize neighborhoods quickly in the highest impacted areas. The idea seems to be gaining favor among lenders, housing non-profits and investor groups. Participants commented that the one-up method of selling [...]

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New Freddie Mac Short Sale Affidavit to Go Into Effect January 1

Posted on November 28, 2011 in advice, freddie mac, investor tips, short sales with no comments

Freddie Mac’s latest guide contains some changes to how Short Sales are handled effective January 1.  Servicers are encouraged to begin using the new Freddie Mac Short Sale guidelines before that date. An affidavit will be required of all parties in a Short Sale attesting that to the knowledge of the parties involved—buyer, seller, agent, [...]

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Which Servicers Are Best for Short Sales?

Posted on November 14, 2011 in foreclosures, housing news, mortgage news, short sales with no comments

According to a report by Moody’s four servicers, CitiMortgage, GMAC, Wells Fargo and Ocwen, outperform major competitors in loss mitigation with distressed homeowners.  In particular they beat out Bank of America and JP Morgan Chase in many loss mitigation areas that were examined during the period June 2010 through June 2011. Bank of America and [...]

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Short Sale Real Estate Investing – Legislators Urge Greater Transparency

Posted on November 14, 2011 in BPO, Fannie Mae, freddie mac, short sales with 1 comment

Short sale real estate investing news – A California congresswoman, Susan Davis, has introduced a bill, The Short Sale Transparency Act, which would require loans funded through Fannie Mae or Freddie Mac to provide up front the information about the lowest price that will be acceptable to the lender. The congresswoman and her supporters believe [...]

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Closing Timeframe is Increasing in Many Markets

Posted on November 4, 2011 in REO, foreclosures, housing news, short sales with no comments

The Campbell/Inside Mortgage Finance monthly Housing Pulse Tracking Survey confirms that heavy lender workloads associated with refinance applications and problems with appraisals are leading to an increase in the length of time it takes to close on a home loan. The normal timeline for closing is around 30 days.  Lender workload is now pushing closings [...]

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Short Sale Investing – Secrets of Finding Great Deals

Posted on October 19, 2011 in advice, foreclosures, investor tips, short sales with no comments

Most Investors get started in Short Sale investing by culling through foreclosure listings and contacting the owners with letters, postcards and phone calls.  Probably 50% come back with no forwarding address.  Maybe one or two in 100 will give you a call and maybe one in every 200 will decide to work with you.  This [...]

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Is Flipping Houses Fraudulent?

Posted on October 17, 2011 in foreclosures, investor tips, short sales with no comments

Flipping houses, whether they’re Short Sales or wholesale deals is really nothing but a time-honored business practice of buying low and selling higher within a short period of time.  In business it is called the practice of arbitrage.  There is nothing illegal with it so long as the Investor follows the rules. Understanding that it [...]

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Huge Opportunity in Short Sale Investing as Foreclosures Skyrocket

Posted on October 12, 2011 in foreclosures, short sales with no comments

Short sale investing is a huge opportunity! The banks have loosened up and foreclosures are skyrocketing. If you’re buying investment properties, you need to watch this video! Check out this video and subscribe to my blog for all the latest real estate investing news and tips. For more training get my 5 day investing mini-course [...]

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Buying Short Sales – Lenders to Crank Out More Foreclosure Notices

Posted on September 19, 2011 in arizona, california, colorado, florida, foreclosures, georgia, housing news, indiana, investor tips, michigan, mortgage news, oregon, short sales with no comments

The news keeps getting better for investors who are buying short sales.  The State of New Jersey has lifted its year-long ban on foreclosures.  Ally Financial and GMAC were the last to receive the all-clear to move forward with foreclosures within New Jersey.  Last month the foreclosure ban was lifted from Bank of America, Citibank, [...]

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