[facebook][retweet] Homeowners who had short sales in 2014 can now breathe a giant sigh of relief, as the Mortgage Debt Forgiveness Act was signed into law by President Barack Obama. Under the Mortgage Debt Forgiveness Act, any mortgage forgiveness achieved in a short sale is not counted as income for homeowners whom banks allowed to…
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[facebook] [retweet] Yes, it’s that time of the year once again. With the changing of the calendar, and a fresh 365 out in front of us, there are a few traditions that we all must endure. For the past few days you’ve probably had to scribble out 2014 more times than you can count. The…
[facebook][retweet] The median price of distressed residential properties, which are those that are either in the foreclosure process or owned by a bank, jumped up by 18 percent year-over-year in October, according to RealtyTrac’s October 2014 Residential and Foreclosure Sales Report. The price of non-distressed homes increased at the slower rate of 11 percent during the same…
[facebook] [twitter] Maryland may have overtaken Florida for the nation’s highest foreclosure rate of any state in October, but Florida still led all states by far in bank repossessions (REOs) for the month, according to RealtyTrac’s October 2014 U.S. Foreclosure Market Report released Thursday. In all, lenders repossessed 4,905 properties in the Sunshine State in…
[facebook] [retweet] “Best (& Worst) Beach Bodies of the Year”. That was the headline that grabbed my attention a while back as I stood in line at the grocery store. And it wasn’t for the most obvious reason that a 30-something year old man might be tempted to take a peek. In contrast, this was much…
[facebook][retweet] Distressed residential properties had a median sales price of 37 percent below the median sales price of non-distressed properties nationwide in September, according to Realty Trac’s Q3 2014 Residential and Foreclosure Sales Report released Tuesday. The median price of distressed residential homes, which are those in foreclosure or owned by banks when sold, was…
[facebook] [retweet] The nation’s negative equity rate dipped closer to single digits in the year’s second quarter, though nearly one in five borrowers remain poorly positioned, according to new data released Thursday. Property information firm CoreLogic reported that nearly 946,000 homes returned to positive equity in the second quarter, meaning the mortgage holders owe less…
I received a great question from Charles, one of our guild members, a few days ago…and I thought it was the perfect choice for this month’s “Ask the P.I.G.” video. Charles wanted to know what is the best way to find real estate “hot spots”, or the highly desirable neighborhoods in your…
[facebook] [retweet] WASHINGTON–U.S. financial regulators are poised to finish long-delayed mortgage market standards as soon as next week, according to people familiar with the matter, adopting a relaxed set of rules designed to ensure credit is broadly available. The regulators, in a victory for real estate and mortgage industry groups, are expected to finalize a…
[facebook] [retweet] Fannie Mae recently released a report revising the waiting periods for distressed borrowers with a derogatory credit event such as a foreclosure, bankruptcy, short sale, or deed-in-lieu of foreclosure on their credit history to obtain a new loan. For borrowers with a short sale or deed-in-lieu of foreclosure on their record, Fannie Mae’s…