From NAR's Realtor Magazine: It’s widely agreed that foreclosures and REO properties devastate nearby home values and impede the housing recovery. But we don’t hear similar complaints about short sales. How do the two categories compare where housing prices and a...
First Chase, now BofA: CALABASAS, Calif. – Adding to its foreclosure prevention initiatives, Bank of America has launched a nationwide program that offers delinquent mortgage customers increased assistance with relocation expenses – between $2,500 and $30,000 - at the...
From Reuters: When Jennifer Anderson's family could no longer afford their mortgage and lost their home, she expected many years to pass before they would again become property owners. But less than two years later, in March, they purchased a $297,000 house outside...
The shift from foreclosing to short-selling is having its challenges. The banks and servicers are not foreclosing at the same pace, presumably to give defaulters a chance to work their way through the loan-mod waterfall. Once a loan modification has been attempted and...
Converting from foreclosures to short sales is enabling the banks and servicers to draw out the recovery process. In the meantime, the free-rent program will help to stimulate the economy?
We've complained that the board of realtors has no short-sale guidance or enforcement. Well, now they do. The North San Diego County Association of Realtors (NSDCAR) created a task force of local realtors who wrote a guideline package entitled, "Short-Sale Practices...
From dsnews.com: Beginning June 15, real estate agents working with distressed homeowners whose loans are backed by Fannie Mae and Freddie Mac should expect to receive a decision on a short sale offer within 30-60 days. The GSEs issued new guidelines Tuesday that fall...
From dsnews.com: Bank of America is making changes to its short sale procedures and introducing an improved task flow within the short sale technology module from Equator, BofA’s short sale management platform of choice. The goal: to reduce the timeframe for a short...
Hat tip to Kingside for sending this in - he noted, "It will be interesting to see if these go anywhere": The exemption of debt-relief taxation is due to expire this year. Bills have been introduced to extend the deadline to January 1, 2015. The House version,...
With the tax exemption of debt-relief expiring at the end of the year, we keep thinking that there will be a surge of short-sale listings coming to market. Not only is there NOT a surge of short-sale listings, there's not a surge of ANY listings, relatively. Here are...
