Bank of America continues its trend of being all over real estate news as of late by offering new cash incentives for distressed homeowners whom decide to utilize short sales in lieu of foreclosing.
Bank of America claims to offer principal reductions to 200,000 homeowners, but puts several hurdles in front of eligible applicants.
Laurie Goodman is a housing analyst with 28-years of experience in studying mortgage-backed securities for big investment banks. She spoke to CNN's Money Magazine on the idea of housing bailouts and the necessity for banks to be open to working with borrowers to stave off foreclosures.
The FHFA announced new regulations that will apply to Fannie Mae and Freddie Mac's short sale procedures. These regulations will accelerate the short sale process for buyers and sellers.
Post discussing options for luxury real estate owners utilizing short sales or strategic default.
Credit ratings can be one of the most challenging obstacles to any prospective homeowner. Oftentimes, those who have had to short sell their homes feel that they will not qualify for a mortgage on a new home because of the effect it had on their credit rating. This is absolutely not the case! In fact, with the low market prices and historically low interest rates, there has never been a better time for buying a new home. Amber D. Smith, a mortgage consultant at Wells Fargo, offers some advice to those looking for steps to take in repairing a low credit score in regards to making a new home purchase.
Kara Homes employee, Jacklyn, has written a guest blog entry for us about her perspective of short sales and the issues that can reduce or increase the amount of time that it takes to short sale.
Why are some analysts saying that 2012 is the year of the short sale? A overwhelming number of upcoming foreclosure filings, level-headed and realistic homeowners, and forecasts of further decline in home value add up to homeowners making a business decision to short sale their home.
Kara Homes employee, Jacklyn, has written a guest blog entry for us about her perspective on short sales and foreclosures, and some of the effects of each.
I've been getting a lot of questions lately about the HAFA Program and how it relates to short sales, and why people should pay attention to it if they have been thinking of selling their home. There are loads of other websites out there that explain and define the HAFA short sale program, but this is my attempt at a very clear and concise explanation.