· Time after time, I see sellers attempting to sell via a short sale and time after time eventually see the property end up being foreclosed upon or Real Estate Owned (REO). By their own numbers, banks realize a higher return by accepting a short sale offer vs. a foreclosure offer, but yet the situation is not getting any better.
Despite the overall decrease in distressed sales and investor activity, the survey reported short sale activity has gone up for investors, with investor short sale purchases up to 35.3 percent, an increase from 31.8 percent in March and 30.5 percent in April 2012.
Eminent domain debate turns the mortgage industry libertarian Downpayment requirements fall for 30-year, FRMs Survey Finds short sales outnumber REO in January Purchases Short sales accounted for 15.9% of home purchases in January, surpassing the share of other distressed property activity, when real estate owned (reo) properties are measured.
· For comparison, so far in January, 23% of SFH sales in King County have been REO, 11% were short sales, and the remaining 66% were “non-distressed.” Holy Cow! If we keep up this pace, it will put massive pressure on the tectonic plates, and we could.
I have two short sales going right now that have been in the works since November of last year. One of the banks, after five months has finally reviewed all the paper work on one of the short sales, (a simple offer to purchase property) and assigned a negotiator to deal with the purchase contract.
Chicago area home prices up 14 percent in October Chicago-area home prices up 3.8% year-over-year Joe Zekas 1/8/15 According to the recently-released corelogic home Price Index (HPI) report, home prices nationwide, including distressed sales, increased 5.5 percent in November 2014 compared to November 2013.
Explosive allegations in BofA hearing over $8.5B MBS settlement Fannie Mae sells off $26 million in NPLs to nonprofit Jamie Gorelick, Clinton Justice Department official, worked for Fannie and took home million. Big Democrat Jim Johnson, Obama’s VP search committee, hauled in millions from his Fannie Mae CEO job.Fed: Conforming loan limit drop effect to be minimal Alt-A Losses Outstripping Expectations, Moody’s Says House Bill Looks to Kill Yield Spread Premiums The Health 202: GOP’s Obamacare rollback quest is about to get skinny – "Premiums would increase as a result." President Trump speaks during a joint news conference with Lebanese prime minister saad Hariri in the Rose Garden on Tuesday. (Photo by Jabin Botsford/The.Additionally, the continued deterioration of the housing market has also contributed to the increased loss expectations for Alt-A pools. The actions listed below reflect Moody’s updated expected losses on the Alt-A sector announced in a press release on January 22, 2009, and are part of Moody’s on-going review process.Chicag o Fed Letter. In effect, the eventual buyers of. conforming loan size limit ($417,000 as of January 1, 2007). These GSEs use these conforming loans to back the MBSs they issue, adding guarantees that prin-cipal and interest on the mortgages will be paid.3and The Bank of New York Mellon over toxic mortgage securities. The case began back in 2011 when The Bank of New York Mellon as trustee of a pool of mortgages owned by investors entered into a.
· Home sales saw a seasonal drop in January, while prices remained stable from the previous month but up 22 percent from 2013, according to the regional housing statistics from the Greater San Diego Association of Realtors (SDAR).. Banks, homeowners prefer short sales over foreclosures.. Real estate trends center on low inventory. Low.
Widespread principal reductions could save taxpayers $2.8 billion 3 Jacob Gaffney, Widespread principal reductions could save taxpayers $2.8 billion, HOUSING WIRE, May 1, 2013. 4 Lawrence Summers, Why the housing burden stalls America’s economic recovery, FINANCIAL TIMES, Oct. 23, 2011 ("Surely there is a strong case for experimentation with principal reduction strategies at the local level").
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The westpac-melbourne institute consumer sentiment index rose 1.8 per cent to a four-year high of 105.1 in January. A reading above 100 indicates optimists outnumber pessimists. why did ‘Black.