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 [...]
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 [...]
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 [...]
Posted on October 12, 2011 in
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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 [...]
Posted on September 19, 2011 in
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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, [...]
Posted on August 19, 2011 in
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The troubles that real estate agents have with short sales and REOs have long been a selling point for investors buying short sales. This year things got even better for investors! Every other year the National Association of Realtors issues a survey of its members regarding top legal issues that Agents face. The top issues [...]
Awesome news for investors buying short sales! Lender Processing Services (LPS) May Mortgage Monitor reveals that as if the end of May there were 4.1 million mortgages 90 days late or more or in foreclosure in the U.S. The same month there were just 78,676 foreclosure sales, which is about 52 to 1 compared to [...]
Great news for investors buying short sales and a sign that short sales are becoming more and more attractive to major lenders has recently come out in the form of incentive programs for Homeowners and their Agents. Wells Fargo has recently enhanced its move-out incentives for distressed Homeowners who are willing to sell using a [...]
The FTC announced on July 15 that it will no longer enforce most aspects of the MARS rule for licensed real estate professionals who are trying to help homeowners with Short Sales. The FTC indicated that the rules have been confusing and have discouraged many Agents from participating in Short Sales. The MARS rules were [...]
Last week I send out an alert by W.J. Mencarow of The Paper Source to warn the note buying and installment loan community that the regulation in the Dodd-Frank Act that requires “ability to repay” to be assured by lenders will apply to seller mortgages as well as bank mortgages. The National Association of Realtors [...]