Real Estate Articles - Home Retention - Forbearance
Industry related articles to keep up with news in the banking and foreclosure markets.
Apr 1, 2020
Its April 1st, and many landlordscommercial and residentialare expecting to see economic vacancy. In the meantime, speak with your lenders about your options.
Mar 26, 2020
After several days of debates and deliberations, the U.S. Senate unanimously passed a stimulus bill to prop the economy amid the coronavirus outbreak on Wednesday evening. The $2 trillion aid package is now headed for the House before it reaches President Donald Trumps desk.
Mar 25, 2020
Dima Williams of Forbes reports on what the $2 trillion stimulus means for housing. Instead of turning to page 567, read Williams? summary highlighting that foreclosures are banned, and lender forbearance granted for up to 180 days for residential homeowners and 30 days for multifamily owners.
Mar 19, 2020
Despite some completed transactions, we have unsurprisingly seen a spike in homes taken off the market:
Mar 18, 2020
those missed mortgage payments could cause a severe cash shortage in the mortgage industry.
Mar 18, 2020
CoreLogic also conducted a comparative analysis of current purchase applications compared to 2018 and 2019. Despite lower rates, we are seeing an understandable decrease:
Mar 14, 2020
Are the many activities that underline the real estate industry from home construction to title searches essential services during the coronavirus pandemic?
Mar 14, 2020
Lifes basic needs are food, water and a roof over your head, which makes real estate an essential service,
Mar 13, 2020
Except for vacant or abandoned properties, lenders of mortgages backed by federal agencies (such as the Department of Agriculture or the Federal Housing Administration), Freddie Mac or Fannie Mae may not execute foreclosuresor foreclosure-related evictionsfor 60 days starting March 18.
Mar 13, 2020
Regardless of their delinquency status, owners of residencies, ranging from single-family homes to fourplexes, may request payment forbearance from their loan providers, given that they prove COVID-19-induced financial hardship.
Mar 13, 2020
Owners of multifamily properties, who were current on their loan payments as of February 1 but are now facing financial difficulties due to the health crisis, may seek forbearance by submitting oral or written requests to their lenders.
Feb 3, 2020
It's pretty clear that commercial / multifamily property owners and developers are getting hammered. Forbearance measures issued by GSAs are coming up short.
Sep 5, 2013
These so-called ?zombie? foreclosures take place when a bank initiates foreclosure on a property but then abandons the process, leaving the property in a sort-of no-man?s land?vacant but not for sale.
Sep 27, 2012
It is widely recognized throughout the industry that short sale completions are increasingeven surpassing foreclosures in many areas of the country. However, according to surrender data, short sales overall make up just 20% of the foreclosure market; REOs still dominate 49%.
Sep 25, 2012
Developing trust between a lender-servicer and distressed borrower during the loss mitigation process has been a barrier within the mortgage industry for several years. But banks and service providers have stepped up their communication efforts in order to bridge the gap that currently exists between all parties involved in this process.
Aug 27, 2012
Should A Borrower With An Underwater Mortgage Strategically Default?
Aug 22, 2012
Starting November 1, 2012, Fannie Mae and Freddie Mac will implement new short sale guidelines to make the approval process easier for eligible borrowers.
May 17, 2012
Just days after Bank of America officially announced its nationwide program offering up to $30,000 in relocation assistance for short sales, a Massachusetts-based real estate company revealed in a blog that one of its clients was approved to receive $10,000.
Nov 20, 2011
As the number of REO and foreclosed properties continues to increase nationwide, servicers, financial institutions and brokers need to figure out a way to sell their assets more effectively.
Sep 12, 2011
The cuts, which affect Bank of America's consumer businesses, represent 10 percent of the Charlotte, North Carolina, bank's work force. The bank said it hopes the cuts and other measures will result in $5 billion in annual savings by 2014. The bank has already cut 6,000 jobs this year. The bank also said it would look for cost savings at its other businesses in a six-month review that will begin next month.
Jul 14, 2011
The Houston Association of Realtors just released its market update report for July 2011. While many parts of the country are facing astonishing numbers of foreclosures and short sales, the houston area real estate market continues to improve. we are very thankful to live in a well diversified area with many different types of jobs and opportunities. Energy is of course a major driving force of Houston's economical growth, but the houston area remains strong in other fields of business such as manufacturing, medical services, technology, industry and education.
Jul 1, 2011
Jun 14, 2011
Completing a real estate short sale is no easy task, for either real estate agents or home sellers. But as in all real estate transactions, the buyers in such sales must obtain title insurance and pay for a title search that will ensure that the home they are buying has no liens against it.
May 24, 2011
First Posted: 05/16/11 04:42 PM ET Updated: 05/17/11 05:43 PM ET
May 15, 2011
(and How to Avoid them)
Nov 13, 2010
Houston-area foreclosure postings in September totaled 4,691 - the highest since October 1987.
Nov 2, 2010
The Census Bureau has released its survey of Residential Vacancies and Homeownership for the third quarter of 2010
Oct 20, 2010
Consequences of Robo-Signings. Solution Needed ASAP
Oct 14, 2010
This morning that foreclosure filings in the third quarter of 2010 rose 4 percent from the previous quarter but were down 1 percent from the same period in 2009. 930,437 homes, one in every 139 U.S. housing units received a foreclosure filing during the quarter.
Oct 12, 2010
SUMMARY OF BANK MEETINGS
Oct 10, 2010
Foreclosure flaw forces lender to review action
Oct 8, 2010
WASHINGTON The attorneys general of up to 40 states plan to announce soon a joint investigation into banks' use of flawed foreclosure paperwork.
Oct 7, 2010
The reason for all of this is because foreclosure defense lawyers have broken down MERS to the piece of turd that it is. If they did not stop they would e subject to billions of dollars in damages. The government using Fannie Mae and Freddie Mac with the top lenders formed MERS to screw the world, the states, and we the people. There is grass roots anger with people on the street looking to burn down the banks. Bob Rubin, Larry Summers, Alan Greenspan and the big Wall Street and Bank hot shots set up the biggest scam in world history. Well, the people finally caught on when they were thrown out on the street. I just finaished trying one of these cases, and the fraud and perjury are so perverse and the judges are so ignorant of this area of the law, that they have begun to pull it off. Now the tide has changed and the people will wipe out the wrongdoers like a Tsunami. My pleasure is to personally hook up the bracelets. I want more than money. I want these guys in jail and their reputations runined for the misery that they have thrust upon us based on pure greed. Tough shit on them.
Jul 20, 2010
Down Economy and High Levels of Home Inventory Put Sellers at Disadvantage as Prices Continue to Drop
Jul 2, 2010
Short sale discounts from regular retail home prices are varying widely from market to market in the US
Jun 24, 2010
Novice short sale and other real estate investors are often confused by the entire process;
Jun 14, 2010
Earlier this week a top executive at Bank of America told an REO conference in Dallas that the lender would be focusing more on short sales than ever before.
May 28, 2010
Yet if you want to see successful 21st-century urbanism, hop on down to Houston and Texas, the Lone Star State.
May 20, 2010
Delinquencies, Foreclosure Starts Increase in Latest MBA National Delinquency Survey
May 3, 2010
Short sales give distressed homeowners an exit that doesnt lead through credit-damaging foreclosure and saves banks money compared with taking and selling houses with failed mortgages.
Apr 9, 2010
In February 2009, the Obama Administration introduced a comprehensive Financial Stability Plan to address the key problems at the heart of the current crisis to get our economy back on track. A critical piece of that effort is Making Home Affordable, a plan to stabilize the housing market and help struggling homeowners get relief and avoid foreclosure.
Apr 5, 2010
Home Affordable Foreclosure Alternatives Program
Apr 5, 2010
Government Encourages Short Sales
Apr 5, 2010
Bank of America Home Loans will now be using Equator as the primary tool for short sales. It is a self service portal that automates the short sale process. This will streamline the process and improve the experience for both customer and real estate agents.
Apr 3, 2010
Writing to sell is actually the TRILLION dollar industry I?ve been talking about this whole time.
Apr 3, 2010
Theyve lost their jobs. Theyre locked in their homes. And nobody knows what will happen next.Covid-19 has crippled our economy and wiped out the livelihood of many families worldwide.
Mar 31, 2010
The Treasury Department has increased the incentives for servicers, investors and distressed homeowners to participate in an expedited short sales program that goes into effect April 5
Mar 28, 2010
These fed-up homeowners say they left because bailed-out banks duped them
Mar 26, 2010
Sometimes the best strategy is to sell at whatever price you can get
Mar 26, 2010
Homeowners with $1 million-plus mortgages are defaulting at almost twice the U.S. rate and many are turning to short sales
Mar 25, 2010
WASHINGTON The recovery in the housing market is at risk of collapsing.
Mar 22, 2010
Its the sale of a property for an amount below the existing debt on the property.
Mar 15, 2010
Freddie and Fannie Bounce Mortgages Back to Banks Unfinished Construction Offers Investors Another Opportunity to Profit Builders Look to Prosper from Hidden Transfer Fees Pittsburgh, Louisville Top List of Best Housing Markets The American Culture of Homeownership 30-Year Fixed Mortgage Rates Fall to 4.76% Breathe Life Into Your Investment Portfolio with Probates
Mar 12, 2010
It's no surprise that negative equity has become a major issue in the current housing market; experts report nearly one of every four mortgages being higher than the current value of the underlying real estate. Unfortunately, that doesn't tell the entire story. Short sale investors, real estate agents and homeowners alike need to understand the full impact of negative equity in order to make the best decisions regarding the current plan of action for any property.
Mar 11, 2010
Over 308,000 households with loans received a foreclosure filing in February
Mar 10, 2010
1. Nearly 34 percent of the average household income goes toward housing. Expect this trend to continue as people downsize into affordable housing options.
Mar 1, 2010
inventory of homes -- single-family homes, condominiums and town houses listed on local multiple-listing services -- in 27 major metropolitan areas rose 4.2% in February from a month earlier.
Feb 12, 2010
Federal and mortgage industry officials are increasingly looking for ways to get distressed borrowers to leave their homes voluntarily, without going through the expensive foreclosure process or a messy eviction
Feb 10, 2010
one of every five U.S. home owners owed more on their mortgage than their home was worth in the fourth quarter
Feb 3, 2010
Refinance loans up 21%
Feb 2, 2010
Sooner or later every short sale investor encounters a sale in danger of dying.
Jan 13, 2010
The Broker's Price Opinion (BPO) is not completed by you the
investor. It's submitted by a real estate agent and it is part
of the overall package when it is submitted for an approval on
Jan 13, 2010
Sep 7, 2009
Eligibility and Verification: Loans originated on or before January 1, 2009. First-lien loans on owner-occupied properties with unpaid principal balance up to $729,750. Higher limits allowed for owner-occupied properties with 2-4 units.
Aug 12, 2009
THE FORECLOSURE CRISIS IN AMERICA
RESPONDING TO HOMEOWNERS IN NEED
Feb 17, 2009
in 30 days there will be another event to houston
Feb 4, 2009
Foreclosures dominate home sales
Jan 13, 2009
Claims of Illegal Foreclosures
Dec 12, 2008
State proposes bill to prevent foreclosure scams
Dec 11, 2008
Foreclosures in TX decline
Dec 11, 2008
Home Foreclosure and Debt Cancellation
Dec 8, 2008
Here is the video of our presentation and questions and answer session involving Shortsales
Dec 5, 2008
10% of homeowners facing mortgage woes
Nov 13, 2008
Texas foreclosure numbers a mixed bag, report shows
Nov 12, 2008
Federal Housing Finance Agency announces foreclosure initiative
Oct 31, 2008
Homeowners in Denial, study shows