In this article from DSNews.com, it was reported that there were just over 900,000 foreclosure-related sales in 2011, which equaled 23% of all residential sales in the US last year. While REOs accounted for 14% of all residential sales and pre-foreclosures accounted for 9% of all sales, trends have shown a dramatic turn from previous years. Short sales are now…
Have you fallen behind on your mortgage payments, and don’t know what to do? Watch this brief video, and find out what a Short Sale is, and why it may be the solution you have been searching for. Then contact me at 415.482.3134 for a FREE consultation to find out if a Short Sale is right for you.
In an article that originally appeared in Newswire, it was reported that Freddie Mac could take more than a decade to unload REO inventory. The article reports: “Freddie Mac vendors sold fewer REO properties in the third quarter than they did earlier in the year as nonperforming loans continue to climb. More than 25,300 repossessed homes held by Freddie Mac sold in the…
There is growing concern among lenders that the many of the thousands of homeowners holding jumbo mortgages – those who hold loans that exceed the amount of conventional conforming loan limits set by Fannie Mae and Freddie Mac ($417,000 in most of the US, and $625,000 in higher cost areas such as Marin County) may be seriously contemplating strategic default. Many homeowners and, in particular,…
According to a national survey conducted in September and reported in DSNEWS , one in three report that they not be able pay their mortgage or rent for more than one month if they were to lose their job. Of those respondents earning in excess of $100k per year, ten percent also say that they would be unable to make even one…
The nation’s leading mortgage lenders are extending extras for short sale transactions employed as an alternative to foreclosure – both in the form of monetary incentives for borrowers and streamlined procedures for real estate agents. Wells Fargo says it has been making “enhanced financial relocation assistance offers” that can be as much as $10,000 or $20,000 to certain borrowers who…
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