Archive for 'REO'
Fannie Mae Pre-Foreclosure Announcement
To support overall market stability and reinforce the importance of borrowers working with their servicers when they have difficulty repaying their debt, Fannie Mae is updating several policies regarding the future eligibility of borrowers to obtain a new mortgage loan after experiencing a preforeclosure event (preforeclosure sale, short sale, or deed-in-lieu of foreclosure). The “waiting [...]
Full StoryShort Sales in Northern Virginia
We’re starting to see a lot more short sales in Northern Virginia, but it’s really more than that. You will also notice short sales in Northern Virginia as a whole. This includes short sales in Maryland and Washington DC as well.For those buyers out there, every time you hear that a home [...]
Full StoryForeclosure Inventory is Rising
If you’re an active buyer in Northern Virginia out there and have been following the market the past 5 months, you’ve probably seen a dip in the amount of foreclosures that are hitting the market. You are also probably noticing that every offer you submit is beaten out by an all Cash offer. The reason [...]
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 [...]
Full StoryTips for Getting Those Foreclosure Deals in Northern Virginia
When you’re not careful, buying a REO or Short Sale can drain your bank account. REO or bank owned properties can have major complications without inspections and short sales can take forever to close, wasting your time. Be smart if you’re looking to buy a foreclosure in Northern Virginia.
Here are some tips to get the [...]
