The Short Sales and Bank Fraud story continues to gain traction. After CNBC aired the story we brought them, dozens of other media outlets, bloggers and authorities have contacted me to discuss this topic. Here is the story of how this fraud initially came to our attention, along with the evidence to back it up. […]
Monthly Archives:: January 2010
FHA is lifting 90 day ban on flipping property! Good news for FHA buyers.
FHA is lifting the 90 day flip rule. Great news for investors and FHA buyers. Currently if an investor buys a home 9man are bought for cash on the courthouse steps) , fixes is up and lists it for sale, an FHA buyer could not buy the home until the investor had owned the property […]
HAMP Has Hit The Hump
HAMP – is barely able to handle even the current volume of modifications and now here is the hump; the impending exponential increase in mortgage delinquencies coming this summer. The popular Alt-A and Option ARMs from the height of the real estate bubble begin to reset this summer. These loans walked the tightrope between prime […]
Stockton homes for sale 95219 – Brookside Market Update Report
Download now or watch on posterous Brookside_Market_Update_Stockton_Ca_Homes_for_Sale_Brookside_95219_Market_Trends_Statistics_Graphs.wmv (2068 KB) Pat Holkesvig is Stockton’s #1 listing agent. Each month she prepares the Stockton Market Update Report that includes home values, listing prices, number of homes for sale and many other measurements, market trends and. The Market Update Report is distributed to over 45,000 prospects and clients. […]
Step by step directions on filing IRS Form 5405 claiming 1st time home buyer tax credit.
How to File Form 5405 To Claim First Time Home Buyer $8000 Tax Credit via ehow.com We have had many requests from our first time Stockton home buyers on how to file for their $8000 tax credit. eHow has step by step directions. Check it out! Posted via web from www.Homes-In-Stockton.com Posterous
FHA Increased required down payment and PMI requirements for riskier borrowers
In the midst of an already dire housing market, the federal government plans to impose more stringent requirements for those seeking a Federal Housing Authority-backed mortgage. Among the changes slated for FHA loans is a higher down payment requirement for borrowers with poor credit – those with a credit score below 580. Other changes include […]
How will a Stockton short sale or loan mod affect your FICO score?
I receive many questions from potential Stockton short sale sellers regarding the impact of short sales, loan modifications and late pays on their FICO scores. The San Francisco Examiner published an article regarding the subject. Worth checking out. View article… Posted via email from www.Homes-In-Stockton.com Posterous
Wall Street Journal interview with Sr. VP of RealtyTrac
Does not appear the real estate market will be out of the woods anytime soon. Click here to watch the video! We continue to see a large number of Lathrop short sale, Manteca short sales and Stockton short sales being listed. We expect to see the number of Stockton homes for sale to increase dramatically […]
CNBC.com Article: Big Banks Accused of Short Sale Fraud
Big Banks Accused of Short Sale Fraud – Just as regulators, lawmakers and all forms of financial oversight boards are talking about new regulations to guard against mortgage fraud and another mortgage meltdown, there appears to be yet a new mortgage fraud out there today, allegedly perpetuated by agents of, yes, the big banks. For […]
The Second Mortgage Challenge
In order to do a short sale the second lien holder must also agree to the terms of the sale. This is even more challenging than with the first lien holder, since there usually isn’t much left to gain for the second in line. Obama’s administration has tried to encourage second lien holders into the incentive […]
Four Common Mistakes Made by Short Sale Buyers
So often buyers say they don’t want to get involved in a short sale because they believe short sales always fall apart. However when one explores why short sales so often fall apart they are likely to find the buyer frequently plays a significant role. Sure, one can argue that there are difficult lenders who […]
Build Your Ark, the Short Sale Flood is Coming
The Home Affordable Foreclosure Alternatives Program or HAFA will not only effect how lenders manage short sales as I have previously mentioned in the December 17, 2009 post, it will demand that all lenders who operate under HAMP offer short sales to any failed loan modification attempts who are eligible. With the current numbers at […]