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
Tag: Short Sale
Foreclosures Falling, But Delinquency Rate Climbing
The nation's foreclosure inventory fell to its lowest level in almost seven years in November, but the percentage of delinquent mortgage loans is on the rise, according to Black Knight Financial Services' November 2014 "First Look" at Mortgage Data. Delinquent mortgages, which are those more than 30 days overdue but not in foreclosure, jumped by … Continue reading Foreclosures Falling, But Delinquency Rate Climbing
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
Frequently asked questions about buying a short sale – freddieMac
What is a short sale? A short sale occurs when a property is sold at a price lower than the amount the homeowner owes on the mortgage, and the homeowner's mortgage lender(s) agrees to the "short" payoff. A lender might accept a short sale with the property worth less than the balance of the mortgage, … Continue reading Frequently asked questions about buying a short sale – freddieMac
Bank Foreclosures Listed Far Below Regional Selling Prices
RealtyStore, a provider of a broad variety of real estate listings, recently released a report outlining average selling prices for bank foreclosures. The company found the median price of bank foreclosures for sale in six select states list at an average of nearly 50 percent below recent median existing-home sale prices. The states—Maryland, Massachusetts, Mississippi, … Continue reading Bank Foreclosures Listed Far Below Regional Selling Prices
Making an Offer on a Short Sale? What You Need to Know – Realtormag
Are you looking to buy a new home? Are you thinking that now's a great time to find bargains? Before you make an offer, it pays to know a little about the seller's situation. If a home is being sold for below what the current seller owes on the property—and the seller does not have … Continue reading Making an Offer on a Short Sale? What You Need to Know – Realtormag
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
The Law Office of Beth Mann, P.C. 