Homebuyers are caught in a storm of low inventory, high demand and tight credit availability. In these market conditions, even simple tactics or connections a potential homebuyer can have could make the difference between owning a home or not. Ray Brousseau, executive vice president of Carrington Mortgage Services’ mortgage lending division, outlined 10 tips to help … Continue reading 10 tips for first-time homebuyers: How to navigate the real estate market
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Completed Foreclosures Decline But Remain At Double Pre-Recession Levels
While completed foreclosures on residential homes totaled 40,000 for April and have been steadily falling monthly for the last four years, they are still nearly double their pre-recession average per month, according to CoreLogic's April 2015 National Foreclosure Report released Tuesday. Completed foreclosures, which are a measure of homes actually lost to foreclosure, declined by … Continue reading Completed Foreclosures Decline But Remain At Double Pre-Recession Levels
Would you “try and buy” before buying or selling a home?
Try and buy is a concept in real estate that may help sellers to market their homes to potential new buyers who can spend an extended length of time (varies between a few hours to a few days) in a home prior to making an offer. This concepts allows potential new buyers to help determine what homeownership in that specific home could … Continue reading Would you “try and buy” before buying or selling a home?
January existing home sales come in flat compared to December
2015 sales expected to pick up where 2014 left off By: Trey Garrison, Housingwire.com Auction.com projects that existing home sales for January will fall between seasonally adjusted annual rates 4.9-5.21 million annual sales, with a targeted number of 5.06 million. This suggests that January sales will be up from one year ago and essentially flat … Continue reading January existing home sales come in flat compared to December
Freddie Mac’s Mortgage Portfolio Expands For Third Straight Month
November marked another month of expansion for Freddie Mac's mortgage portfolio, which grew again as new business ticked up. According to Freddie Mac's monthly volume summary, released Monday, the company's total portfolio ended November at an estimated $1.9 trillion, up an annualized 0.4 percent. Year-to-date, the portfolio's growth rate is an average -0.7 percent, the … Continue reading Freddie Mac’s Mortgage Portfolio Expands For Third Straight Month
What Sellers should know about the Mortgage Foregiveness Debt Relief Act not being extended
The Mortgage Forgiveness Debt Relief Act applies to homeowners who are NOT insolvent on the date of the sale. The internal revenue code has an existing exclusion of forgiven debt from income when the borrower is insolvent on the date of the sale (IRS Publication 4681). this has been an existing part of the tax … Continue reading What Sellers should know about the Mortgage Foregiveness Debt Relief Act not being extended
Foreclosure and Shadow Inventory Both Decline in February
CoreLogic released its National Foreclosure Report for February, 2014, reporting 43,000 completed foreclosures for the month, a 13.1 percent decrease from January, 2014. Yearly, foreclosures declined 15 percent from February, 2013. Comparatively, foreclosures averaged 21,000 per month before the housing crisis from 2000 to 2006. Since September, 2008, 4.9 million foreclosures have been completed. As … Continue reading Foreclosure and Shadow Inventory Both Decline in February
Existing Home Sales Languishing in 2014 Apr 22 2014, 11:04AM by Jann Swanson
Sales of existing homes were essentially unchanged in March compared to February the National Association of Realtors® (NAR) said today. Home prices continued to increase in March but the growth has now slowed from previous double-digit levels.NAR said total existing home sales in March were at a seasonally adjusted annual rate of 4.59 million homes, … Continue reading Existing Home Sales Languishing in 2014 Apr 22 2014, 11:04AM by Jann Swanson
Five questions: Attorney finds niche in negotiating short sales by Jim Gallagher
Suppose you can’t pay your mortgage, and you can’t sell your house because you owe more than it’s worth. You’re in quite a pickle.You can stay until the sheriff shows up with the move-out order. Or, as more people are doing these days, you can try to escape your debt with a short sale.Put the … Continue reading Five questions: Attorney finds niche in negotiating short sales by Jim Gallagher
Lenders: Beware of the ‘Forced’ Short-Sale in Bankruptcy Posted By Colin Robins On March 5, 2014
Historically, Chapter 7 Trustees rarely seek authorization to sell over-encumbered real property of the estate free and clear of liens because such a sale is authorized only under very limited circumstances. Based upon the rarity of motions to sell over-encumbered property and the assumption that a Court would never grant such a motion, creditors have … Continue reading Lenders: Beware of the ‘Forced’ Short-Sale in Bankruptcy Posted By Colin Robins On March 5, 2014
The Law Office of Beth Mann, P.C. 