Posts Tagged ‘REO’
REO Bulk Sales Initiative is a BAD Idea
The Federal Housing Finance Agency’s bulk sales plan, whereby certain banks will allow third party institutional investors to purchase multitudes of bank owned (REO) loans in bulk, is moving ahead at full speed, and is doing so quietly. Against pleas from members of Congress, the California Association of Realtors (C.A.R.) and others involved in the…
Read More
How Do I Buy a Foreclosure?
I have had several clients recently ask how to purchase a foreclosure property, and it is a great question. Oftentimes buyers do not differentiate between the purchase of a foreclosure, a pre-foreclosure, and a post-foreclosure. Let’s take a look at the different ways to purchase property in various stages of foreclosure: 1. Auction (the one…
Read MoreRecent Real Estate News, and How it Effects You
There has been plenty of recent housing news that could effect the value of your home, so here are some of the latest updates: Bill to allow visas to foreign home buyers. Congress is considering a bill that would allow foreign homebuyers to purchase residential property in the U.S., in an effort to stimulate the…
Read MoreForeclosures: Is the Barrage Over?
Recent studies indicate that foreclosure filings are down across the nation, but what does that really mean? Several theories have been discussed in the media about what will happen next. One is that things are improving, albeit slowly, and lenders are embracing foreclosure prevention measures (like loan modifications and short sales) more heartily. The other…
Read MoreFannie Mae Will Pay Buyer Closing Costs
Fannie Mae just announced that it will help buyers purchase REO (lender owned) properties by providing up to 3.5% in closing costs through the HomePath program. In order to qualify buyers must submit their initial offer on or before April 11, 2011, with a mandatory closing date before June 30, 2011. The main restriction for…
Read More