With 33 entries this week, this was a tough job for Dustin, Jillayne, Rhonda and I. Diane made it easeir because she was so far and above! Thanks Diane!A couple of questions for Drew:1) One person sent three entries. Is there a limit to the number of entries one person can send in one week?2) Does the post have to written in the week of submission? Can someone send a post they wrote in 2006 as example?
I could get u set up and you can avoid all the head aches of making your wetsibe work for you.I can set up your store on the internet.I'd charge you $100.So costs involving having your own wetsibe include: web hosting, domain name, web developer (me)Anyway if you are interested e-mail me, and I'll tell you some more.
Treasury is terrified of a flood of new frsocloruees. I believe that is why the Treasury issued a directive last week extending the trial modification period to at least the end of January.There are several possible options:More short sales. Short sale activity is already increasing, and the Treasury introduced the Foreclosure Alternatives Program to help with short sales and Deed-in-Lieu of Foreclosure transactions. However servicers are very afraid of short sale fraud (non-arm length transactions), and short sales are also distressed properties pushing down prices something Treasury is desperately trying to avoid.Encouraging servicers to write down principal. This would be very expensive, and if paid for by taxpayers it would be very unpopular because it would appear to favor speculators over the prudent.Converting homeowners to renters. This is something Dean Baker suggested, and is kind of a Single Family Public Housing program. This would avoid the flood of frsocloruees, and the banks could sell the homes over several years.None of these programs is especially attractive, so I expect more delays and can kicking that will keep frsocloruees elevated for years. I've felt all along that HAMP was just a delaying tactic. By restricting supply, the program has pushed up house prices a little and that has helped the banks raise capital. Now that the capital raises are over, maybe it is time to just accept the consequences and let house prices fall to market clearing levels.-excerpt from HAMP Seen Hurting Housing from Calculated Risk . Reply
Since listing aegnts change between a short sale and an REO it isn't really practical to know what offers submitted at short sale were vs. when they sell as a bank owned but I know from the few times I've participated in the short sale and it fell through I saw the same house sell for substantially less when it went back to the bank. The reluctance by banks to accept short sales lies in many different areas, including mortgage insurance rules, write-offs, borrower's ability to pay (even if they are not) and the sheer number of in-default loans they are dealing with. The best answer would be one given by one of the big banks but they refuse to explain these situations to us. Reply
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yes you will need a social secuirty card first.FHA allows non-scoring borrowers but the rates might not be as well as having a excellent credit score.this also depends on how much you want to put down, and your income.
Now this guy handles PIPELINES ..Exit stgaiertes times 10 !This is what thinking big is. (larger scale)Easy stuff, but takes a certain way of being.Don't worry guys, you don't need to know.Just send us all the leads.Good times. lol
Unfortunately, since you have a combined ciedrt score, they will only report your husband's ciedrt score (since you ciedrt cards are related to your husband's account).My suggestion if you want to have your own ciedrt rating, I would suggest for you to talk to your husband about opening a ciedrt card for your self and not have your husband's name on it.Usually they would put the wife's name on the mortgage just incase the husband can not pay for the mortgage anymore, so yes, your name will be in the mortgage. Just make sure that you have your own job and that you can help your husband pay for it.
Fine Substance, though I would have to dcrlaee that given the throng of views this has had it may be desirability meditating about trying to revise the spelling and the english! Produced a pretty good read though, terrific substance.
Mega kudos for passing on this data chart. I've alawys been baffled by the foreclosure process and truly do not want to be a victim. I just figured a few delinquent payments would get your house taken away, but it seems like quite an elaborate process. Thanks for sharing the details. Reply
Everyone has given you really great advcie so far. People think they can buy realestate and get rich! They forget that furnaces blow and roofs leak. You already have that experience as a property manager and that is a good start. The thing that no one tells you is that investing in real estate is a long term goal. Not get rich quick. Unless you have a lot of cash and can buy properties outright the profit starts real slow. With our current economic situation rents won't go up very fast. The idea of investing is after say 15- 20 years the investments start paying off. If you are smart about it you try to pay down the mortgages as fast as you can. Don't over leverage yourself or you will lose everything. You have to build your foundation with a strong base.You will work really hard for a long time for nothing. You will probably need to keep a regular job for a while. Some of these forclosures are really great. Even if purchased at 50% of value you won't recieve enough to quit your job. You need to have down payment money otherwise it takes money to make money. The current foreclosure market just froze up with all this bail out stuff. All I see is the short sale and foreclosure market drying right up. Good luck! Don't be foolish and know your local laws regarding tenants and landlords.
looking forward to Veronica and J.P.'s wendidg ever since getting to know them during their engagement session. I was glad to see them blessed with a beautiful fall day for their ceremony and reception at the
I am a real estate agent senivrg the Austin Texas area and impressed with your web site. From time to time I preview other agents sites for ideas to improve my site. Kindest Regards Allen Deaver Sky Realty Austin Texas
Deborah Voelz, Everyone is looking at what the uamttlie loss is going to be and whether it makes sense to hold off another year or two and mitigate the results. The foreclosure process ??” and it is a process ??” now takes, on average, 18 months to two years, up from 15 months a year ago andBanks also are allowing borrowers to be delinquent for longer and longer periods of time before initiating foreclosures, Sharga said. There are borrowers who are six or eight months in default; they may have exhausted their workout options; but they're put on a forbearance plan because it's an interim to a final resolution, which is foreclosure, he said. Banks don't want to take the losses now. Deferring foreclosures could have bottom-line benefits, experts say. With fewer foreclosed properties hitting the market, housing prices have rebounded slightly. Moreover, properties might recover more of their value later on, so by waiting, banks may be able to cut their uamttlie losses. Everybody is waiting to see what the market is going to do from a property price perspective, Voelz said. At some point, they have to liquidate these assets. and finallyHow banks account for delinquent mortgages is the subject of ongoing debate among regulators, bankers and auditors. Banks are believed to be carrying a lot of loans at accounting levels well above their true market value, he said. But once a property goes into foreclosure, their options have disappeared. Timothy Ward, the deputy director of the Office of Thrift Supervision, went so far as to send a letter to chief executives in May reminding them that banks must account for losses when a loan is 180 days or more past due. Charging off loans only at foreclosure or when deemed uncollectible is considered weak and not in accord with generally accepted accounting principles, Ward reminded bankers. This is the challenge the big banks have, . They're supposed to take the loss at 180 days, but the initial chargeoffs aren't that much and then we're seeing big REO losses No one is encouraging banks to quickly book $75 million in losses and then take the heat for it, since they wouldn't have a job for very long, he said. despite the high redefault rate on modified loans, banks now see an advantage in modifying instead of foreclosing because it cures the delinquency and they may get par value out of the loan, if property values are stable. Even if they get [only] a few payments, if property values go up, they could do a bit better once they take out the borrower. The flip side is: The more foreclosures there are, the worse the losses become down the road, he said. Though deferring foreclosures may help bridge a period of depressed revenues, losses still must be tallied eventually, said Cannon of Keefe Bruyette. One of the oldest lines in banking is the first loss is the best loss,' he said. That's what most lenders believe, but the question is, are they abiding by their own rule?
4 CENTS PER BILL I first assumed that they are tainklg about ONE DOLLAR BILLS but after reading it again, I am not too sure. I doubt that they print billions in ONES to distribute to their banking buddies. This makes what your tainklg about 100 times worse. If you were worried before, then its time to freak out!