America's Largest Social Network for Default Real Estate Professionals
The Federal Housing Administration (FHA) announced a series of changes to be issued this week.
Commissioner Carol Galante calls the changes “essential and appropriate” as the administration tries to bolster its cash reserves in its Mutual Mortgage Insurance Fund (MMI Fund).
Changes to mortgage insurance premiums
FHA will increase the annual mortgage insurance premium (MIP) added onto most new mortgages by 10 basis points…
Added by Anil Alex Moonasar on January 31, 2013 at 1:44pm — No Comments
Six Florida cities rank among the best places to buy foreclosures in 2013, according to a report by RealtyTrac.
Topping a list of 20 metropolitan areas is Palm Bay-Melbourne-Titusville, the Irvine, Calif.-based real estate data firm said.
RealtyTrac looked at four criteria in tallying the “best places”: the supply of foreclosure inventory; foreclosure sales as a percentage of all transactions; the average percentage discount on foreclosures;…
Added by Anil Alex Moonasar on January 31, 2013 at 1:38pm — No Comments
Lots of solid information is available online that discusses items for first time home buyers such as choosing the right loan, working with a reputable lender, and arranging a proper budget. While those items are very important, there are some other items that don't get the same publicity but deserve great attention.…
Added by Michael Collins, CDPE, SFR on January 31, 2013 at 12:14pm — No Comments
Homeowners looking for the most return on their investment when remodeling should consider exterior replacement projects. According to the 2013 Remodeling…Continue
Added by Anil Alex Moonasar on January 30, 2013 at 1:53pm — No Comments
Many of you may have heard something about Self Direct Investing or buying a tax lien however, never really understood what it was all about because, you didn't have any resource. That has changed, REOPro is launching a new network www.MatherNetwork.com.
www.MatherNetwork.com is a network focused on giving you information on Self Directed Investing.…Continue
McKissock, a leader in continuing education, reveals its top-ranking land surveyor and home inspector courses, with ethics/standards and water rights coming out on top. McKissock determined these rankings by looking at its five-star rating system, which allows all class attendees to provide…Continue
Added by Molly Koch on January 28, 2013 at 9:23pm — No Comments
It is a common occurrence in the Silicon Valley for homes that are in Probate to also go into default. For many older home owners there is scant cash in the bank, they may still have a mortgage, and without a trust a home goes to Probate. When that…Continue
Added by Marcy Moyer on January 26, 2013 at 2:00pm — No Comments
Added by Michael Collins, CDPE, SFR on January 25, 2013 at 10:38am — No Comments
The adjustable rate mortgage has been around for a number of years and it has helped a number of people afford the purchase of their first home. However, in the late 90’s and early part of the 2000’s some people took advantage of the low rates offered by ARMS and got in over their head. Before buying a home people should really look at all the factors involved with an adjustable rate loan and make sure it…Continue
Added by Michael Collins, CDPE, SFR on January 23, 2013 at 12:08pm — No Comments
As this new year begins many people are setting goals, making resolutions and generally planning for a better year. If you are one of the people considering a home purchase in the upcoming year there is some sound advice to follow in order to make the process smoother and ensure that you get in to a home that truly makes you happy.
Be Realistic About Your Finances…Continue
Added by Michael Collins, CDPE, SFR on January 22, 2013 at 1:00pm — No Comments
What does a land surveyor actually do? It depends who you ask. “What is a Land Surveyor” is an entertaining video which answers that question from different perspectives: our moms, clients and the world often have different ideas about how we get our job done every day. Whether mapping floodplains, clarifying boundaries for property disputes or advising land developers, land surveyors play an important role. But do people really know…Continue
Added by Molly Koch on January 21, 2013 at 3:36pm — No Comments
Added by Michael Collins, CDPE, SFR on January 21, 2013 at 3:17pm — No Comments
While prices are rising in the Silicon Valley there are still homes that are underwater and you may need to short sale your South San Jose home. If this is the case, don't wait!
Bank of America has instituted some new policies which can have a major influence on your …Continue
Added by Marcy Moyer on January 21, 2013 at 2:30pm — No Comments
Rock Realty Client Testimonials
"Approx 4 years ago.. I was having some financial strain. I wasn't able to keep up with a first and second mortgage alone as a single mom.
Through friends and family, I was introduced to Mike and Matt.
I didn't want to have to go through the foreclosure process, because I knew that I would be able to pull through the mess I was in within a few years and I didn't want to have that looming over me.
Matt and Mike…Continue
Added by Michael Collins, CDPE, SFR on January 21, 2013 at 10:30am — No Comments
A quick summary:
2012 finished strong ending up 8.8% over 2011 when measuring by average Price Per Sq. Ft. and 11.7 % when measuring by average sale price. There are reports of 15% so I want to clarify that my reports are based on the following:
Residential Single Family Residences under 1 acre in Bend
I exclude the following from the report: Townhomes, Condos, all…Continue
Added by Robert Page on January 21, 2013 at 1:04am — No Comments
All too often, people fall in love with a home for the wrong reason. And when it comes time to sell, they find that there are not as many people in love with the home like they were. Here are some common mistakes first time homebuyers make and how you can avoid the…
Added by Michael Collins, CDPE, SFR on January 18, 2013 at 12:30pm — No Comments
I just read a blog from a friend of mine, Mike Linkenauger of the Short Sale Specialist Networkand I completely and utterly concur with his argument. So much so, that I decided to add my own experience as testimony to his points.
First off, he "takes a step back" to "set the stage" and I think this is very important as many…Continue
Added by Jesus (Jesse) Gonzalez on January 18, 2013 at 9:57am — No Comments
A close friend called me last night, madder than a wet dog in the winter. Here's what he said. I sold him the house!
So, I buy a house in Thousand Oaks 5 years ago. I paid $645,000 for a 4 bedroom 2 bath home with $200,000 down. The house now is worth $499,000. Like a fool I’ve made my payments on time and made peace with the fact that I bought at the wrong time. We’re not planning on moving any time soon and I can afford the payments.
Just the other day I was talking to…Continue
So much time I've spent in writing about non paying asset companies, that I decided this would be a fun blog.
Briefly tell of the funniest thing that ever happened to you while showing a house.
Years ago, I had a listing and had a client call to look at homes. So in those days I took them everywhere. They weren't interested in driving themselves like so many do today. A young woman and her two children, one of them a baby about a year old and a younger child came with me in…Continue
Added by Sharon Letson on January 16, 2013 at 2:42pm — No Comments
A question came up about getting REO's instead of just doing BPO's. I was lucky because I had worked with a couple of companies that did both BPO's and REO's. When the property went REO they contacted me because I was the only one in the area on their list. One of those companies was Countrywide. When BOA took over they kept me on. They then started using the Equator platform and through there I started picking up other companies. How did some of the rest of you get started?