Archive for 'Foreclosures'
Short Sales in Northern Virginia are Being Encouraged by the Fed
A short time ago when anyone heard the words “Short Sale”, they cringed in disgust. The reason for this awful taste in Realtor’s® mouths was the uncertainty of a short sale. Banks were taking as long as 8 months to get back to the agent and buyer. More often than not, hearts were being broken [...]
Full StoryHelp Needed for Home Owners Underwater in Northern VA
As you heard me say in my last post that a large majority owe more than what their home is worth, articles are coming out left and right with the same information. I may have the right to call myself an expert, but I won’t touch that. I guess I call it as I see [...]
Full StoryAvoid Foreclosure in Northern Virginia
There are many troubled borrowers out there that have no idea where to turn to for help. ARM’s(adjustable rate mortgages) are resetting and mortgage payments are increasing as much as $1,500 a month. That’s a whole other mortgage payment for some! For those of you that are in this predicament, do not panic. There is [...]
Full StoryFHA Waives 90 Day Flipping Rule
HUD Secretary Shaun Donovan announced a temporary policy that will expand access to FHA mortgage insurance and allow for the quick resale of foreclosed properties. In an effort to speed the resale of foreclosed properties to new owners, HUD has decided to waive the 90 day flipping rule. They are hoping that this will bring [...]
Full StoryForeclosures: Not for the Faint Heart
I’ll be completely honest with you. Foreclosures aren’t always the best deal in town. They often are not in move-in condition and the bank addendum is very scary for first-time homebuyers. You are purchasing the home in “as-is” condition so the bank has to cover themselves from you coming after them if someone is wrong [...]
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