Posts Tagged ‘Lenders’
Don’t Foreclose Yet…You May Have Options!
With the economy in turmoil and people scared to make big purchases, the real estate business is undoubtedly challenged. In difficult times some people panic, and I see that happening amongst distressed borrowers, yet there is a process to the situation that you need to follow in order to have a chance to save your…
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Conforming Loan Limits to Get the Ax
On Friday the House of Representatives failed to extend the current conforming loan limits, which are set to expire on September 30. This was a big blow to the real estate market and to buyers and sellers. But does this mean the fight for extension is over? Let’s take a look at the situation so…
Read MoreWill Obama Job Plan Really Help Housing Market?
After many real estate industry complaints that the new Obama administration recovery plans did nothing for housing (aside from refinancing assistance plans, which as we all know still require lender cooperation), out comes a plan with that goal in mind. But will this new plan really help distressed inventory and jobs, or is it merely…
Read MoreHow Bank of America is Helping Short Sales
Those of you who regularly read my blogs, or follow me on Twitter, know that I have been impressed lately with Bank of America when it comes to assisting with short sales. With a bad reputation in the past for not dealing with these sales in either a timely or attentive manner, B of A…
Read MoreDon’t Have a Big Downpayment? A Loan May Still Be Possible
These days it is more difficult than ever before to qualify for a loan. Lenders have such a tight grip on their money that they practically require you to sign over your firstborn to release it. Many buyers find themselves in tricky situations – first time buyers who might not have enough cash or credit…
Read MoreHow to Get Short Sale Lenders’ Attention (It Really Works!)
I read a story today about a short sale listing agent, beyond frustrated with the bank’s lack of response to her sale, who was able to get the bank’s attention in a simple way: by tweeting about her dissatisfaction. I loved this story because it shows that while banks may think they have the power…
Read MoreUnderwater Homeowner Solution Makes Sense
In trying times you can surely bet that there will be those who will come up with ideas – some good, some bad. There is one mortgage servicer that has been following a plan for the last year, and it has proven successful in helping underwater homeowners (those who owe more to their mortgagors than…
Read MoreCould Your Lender Be Your Landlord?
There are some changes coming to the housing industry, most notably is that major lenders may soon end up being landlords. Do I have your curiosity? A new bill has been introduced that may prevent more foreclosures, keep shadow inventory from hitting the markets, and keep people in their homes. To read more check out…
Read MoreOpen Letter to Lenders
Dear Lenders, It’s not rocket science, yet I don’t understand why you don’t take a step that could virtually make a big improvement in the housing situation. This in turn will stimulate the economy and we can be on the road to normalization. It’s very simple: short sales. Short sales, despite the negativity surrounding them,…
Read MoreDistressed Property Market Update
Much has been going on lately in the distressed property market. Here is the week’s news. Regulators say lender punishment agreement is getting closer: While we have been hearing for weeks, maybe months (I lost count) about lender punishment in the robo-signing scandal and what form it will take, apparently an agreement is close. Keep…
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