America's Largest Social Network for Default Real Estate Professionals
Buying A Home "As Is". That's What You Are Doing Without A Home Inspection
Are you buying or considering buying a home? If so, you probably hired a Realtor. If so, you did the right thing. Have you found the ideal home and think you may want to buy it? If so, your Realtor, the sellers agent, broker and lender are very happy. But, if you buy a…Continue
Peace of mind is the top reasons that home buyers hire a professional home inspector. People want to know that the home they are buying…Continue
Added by David Selman on November 29, 2011 at 11:00am — No Comments
Hello Everyone, Need your input! I recently received a call from BankersREO Management Company to complete a BPO on one of there Potential "properties". According to the person, there are no agents in my area. (that's a FIRST). The promise is to complete the BPO and if or when that partiular property becomes available to them, It will be My Listing. However, before I get the information, I will first have to pay a MEMBERSHIP FEE OF $399.00. After asking several questions, I…Continue
With housing prices on the decline and defaults on the rise, more and more people are walking away from their mortgage, not as a last ditch effort, but more as a first option.
It seems that the stigma of being foreclosed on is quickly dissipating as more and more homeowners are making the decision of strategic default, treating the process of foreclosure more as a business deal instead of a personal obligation. And it seems that the consequences of foreclosure may be slacking as well.…Continue
Added by Nick Miller on November 27, 2011 at 9:47am — No Comments
Facing a financial struggle can be a really challenging part in any individual’s life, especially if it was due to any number of…Continue
Added by Mike Linkenauger on November 23, 2011 at 10:44am — No Comments
If you can not pay your mortgage you might want to do something about it sooner rather than later. Here's why:
1. The Mortgage Debt Relief Act of 2007 is set to expire at the end of 2012
2. This act says that if you sell your primary residence as a short sale or it is foreclosed then no federal tax is owned on the debt foregiveness, the difference between what you owe and what the bank was paid back after the…Continue
Added by Marcy Moyer on November 21, 2011 at 11:22pm — No Comments
With the future of the economy still uncertain, and mortgage default notices being filed at breakneck speed, is there any reason to be optimistic about the real estate market today?
I guess that would all depend on who you are. For investors who can get their hands on some cash, this is a great market to be in. As the pendulum of supply and demand continues to swing higher and higher on the supply side, prices will continue to fall, which equals a great buying opportunity.
50% of Homes with Mortgages now Underwater
I came across the video below and was shocked to hear that nearly 50% (half) of the nations homeowners are effectively underwater. In times like these, it's important to know that there is help available. If you are a home owner that is struggling to make…
Added by Michael Collins, CDPE, SFR on November 18, 2011 at 1:53pm — No Comments
Thank You NAR Attendants for stopping by our booth to talk to us and for donating to No Paws Left Behind.
Check out our Press Release here.
Added by Desiree Patno on November 16, 2011 at 12:31pm — No Comments
I've seen a lot of articles and blog posts about Wells Fargo, Chase, BofA and others recently. It got me thinking about the future of the REO industry.
I've been an REO agent for over 8 years, back before the REO market was hot. Until recently my largest client was Wells Fargo. Early 2011, Wells Fargo's inventory became non-existant so in June I decided to go out on my own. Knowing that I would lose Wells Fargo as a client (they only work with agencies that have a JV), since there…
•Accompany the Sheriff on Evictions
•Secure & Re-key the property, deternine occupancy
•Turn utilities on in our name
•Have property winterized
•Coordinate the trash out (Some AMs have us store the personal belongings / trash for 90 days+)
•Ready the property for marketing including making repairs and improvements
•Pay the bills on all of the above & wait up to 120 days for reimbursements
•Handle vandalism, theft,vandels, squatters, animals, arson,…
There are approx 2,169 Las Vegas Foreclosures for sale in the Las Vegas area per the local MLS.
This is for homes without contracts on them.
Foreclosure sales pending and homes with contracts on them are at .... 2,594…Continue
Added by Dawn Barrier on November 11, 2011 at 4:00pm — No Comments
There are approx 5,056 Las Vegas Short Sales for sale in the Las Vegas area per the local MLS.
This is for homes without contracts on them.
Short Sale pendings and homes with contracts on them are at .... 7,089…Continue
Added by Dawn Barrier on November 11, 2011 at 3:30pm — No Comments
We are diving into the holiday season. The 2011 National Association of Realtors conference will be one of the last opportunities to network and poise our business toward success.…Continue
Added by Desiree Patno on November 9, 2011 at 12:32pm — No Comments
Considering the cost of purchasing a home it would make sense that buyers would take necessary precautions to see if the home has any problems. A home inspection can point out any problems, if they even exist. The following list represents some pointers to consider when ordering a home inspection.
Review Credentials of the Inspector
It is wise to choose an inspector with…
Added by Michael Collins, CDPE, SFR on November 9, 2011 at 9:00am — No Comments
Today I got a call from an agent about a short sale I have listed. In talking I mentioned the current owner is not in default to which he countered "but he must be." I am here to tell you from experience, from closings, from approvals in my hand your client does not have to be in default to obtain an approval for a short sale. If the mortgage co tells you they must be ask them to show you in writing where this is their policy so you can show your client 9 out of 10 can't and this will get…Continue
Avoiding Problems with Your Mc Farland Escrow Account
If you are using a mortgage to purchase your first home it is highly likely that the lender will request that you use escrow in order to handle the annual homeowner's insurance and taxes on the property. This is reflected by an additional payment on top of the interest and principal…
Added by Michael Collins, CDPE, SFR on November 7, 2011 at 11:00am — No Comments
You've read about Mc Farland, Wisconsin short sales online or maybe you have heard about them on TV. Now you are wondering if this could be a good option for your Wisconsin house. In simple terms, a short sale is a process in which your bank agrees to…
Added by Michael Collins, CDPE, SFR on November 4, 2011 at 11:30am — No Comments
Tips for Buying Your First Mc Farland Wisconsin Short Sale
A short sale is a fairly simple procedure, at least in theory. A homeowner sells their home for a price below the current mortgage balance. The bank agrees to take this lesser amount as payment in full of the mortgage in order to avoid the heavy cost of a…
Added by Michael Collins, CDPE, SFR on November 3, 2011 at 2:30pm — No Comments