foreclosures
Short Sales Vs Foreclosures Vs Traditional sales
December 10, 2011 by Financemyhome · Leave a Comment
We need to understand that while the current economy is really a “Tale Of Two Cities” in that some people have no idea we are in a recession whereas others are in deep pain, the real estate market as a whole is being impacted by distressed properties. Based on the current backlog of homes, it may be this way for some time. That being said, why are short sales being embraced by everyone as the most economical way to move markets forward? When you look at a comparison of the loss incurred by the lender, you will see that losses are generally worse with a foreclosure. Larger losses via lower sales prices ultimately impacts everyone who is buying, selling or refinancing. I have a report and flyer I’d like to share. Both provide you with opinions and resources so you can draw your own conclusions. Solving the housing problem starts with understanding the problem as well as exploring viable solutions.
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foreclosures
Short Sales, Foreclosures, Bankruptcies, Judgements All in one Transaction
July 11, 2011 by Financemyhome · Leave a Comment
I just had a short sale blow up because of undisclosed tax liens and judgements. The title couldn’t be cleared and we ended up with a mess. Everyone involved has to dismantle and start over again. I couldn’t help but be disappointed. But, in today’s real estate world this is common. It is all about attitude. When life throws you lemons, learn to make lemonade. Yes, it is more complicated than that. Take a look at this video and share it with someone who may have had a set back. It is really powerful and inspirational
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foreclosures
FHA Upfront MIP Increasing to 2.25%
April 5, 2010 by Financemyhome · Leave a Comment
Due to an increase in foreclosures, FHA finds itself needing to increase the cost of mortgage insurance. The upfront MIP is increasing from 1.75% to 2.25%. FHA allows borrowers to purchase a home with 3.5% down. The borrowers using FHA often don’t have a lot of reserves or ability to put more down. The lack of financial resources coupled with a shaky economy has led to an increase in foreclosures. The insurance premiums are used to cover the mortgage losses. The monthly insurance cost of .55% of the loan will remain the same.
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