Mark Shandrow | Short Sale Resource Center
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US banks have reached an amazing settlement with state and federal governments regarding abusive mortgage practices. Check out this article from Reuters. (Reuters) – Five big U.S. banks accused of abusive mortgage practices have agreed to a $25 billion government settlement that may help roughly one million borrowers but is no magic bullet for the [...] Read more »
This is the most asked question I hear, “What are the real benefits of a short sale?” Honestly, it is actually a really good question. So, I put this list together to help sort things out a bit. What are the Advantages of a Short Sale? 1.) Less Damaging to Credit Rating: A Foreclosure will [...] Read more »
Urgent new relocation program from Bank of America: Short Sale Agent Update Limited Time Offer May 15, 2012 Short Sale Relocation Assistance Program: Your clients could receive $2,500 to $30,000 in relocation assistance Your financially distressed clients want to avoid foreclosure. You want to help them. So do we! That’s why Bank of America is excited to announce that [...] Read more »
Time is Ticking to Get a Fresh Start. According to recent data by CoreLogic, a leading provider of information, analytics and business services, almost 1 in 4 homes with a mortgage are underwater. This number has continued to grow quarter over quarter as real estate values continue to decline. Many underwater homeowners allow their home [...] Read more »
Did you know that you could short sale your home and then buy another house right away? Yes, it is a true. You can get a new FHA insured loan that would allow you to buy another house immediatley after a short sale with only 3.5% downpayment. According to HUD guidelines, borrowers are considered eligible [...] Read more »
Check out this great article about strategic short sales from the Los Angeles Times. As the real estate market continues to deteriorate, I am certainly more strategic defaults will be happening. There’s no firm evidence that mass walkaways by underwater homeowners during the housing crisis ever happened. But maybe they should have. Walkaways. Jingle [...] Read more »
Check out this great article from the New Yorker. Read the original article here. Remember, there are 6,000,000 owners currently IN default and another 11,000,000 who are underwater. (actual number of underwater owners could be as high as 20,000,000 if those who are considered ‘near’ underwater. Meaning, they owe what the house is worth. If [...] Read more »
This is a first in a series of discussion about doing short sales for different services. The purpose of these upcoming articles is to highlights some of the tips, tricks and secrets we have uncovered negotiating Bank of America short sales. These tips and tricks should help with your experience and increase your chances of [...] Read more »
This is a great article on Huffington Post about why bank can not rent home to the previous home owner–it is currently prohibited by Fannie Mae or Freddie Mac–two of the largest investors in home mortgages. Here is the full story. . . Housing investors and advocates are embracing a new strategy to keep struggling [...] Read more »
I saw this sign the other day driving around Long Beach and another similar one in South Central. You can always tell where the real estate market is by the Yellow Bandit Signs. What do you think this sign tells us about the real estate ? Read more »
