Real estate short sales listings process
February 18, 2011 by Darcy Beg · Leave a Comment
Short sales are a hot topic these days.
It should come as no surprise, considering these real estate transactions now represent a huge share of the housing market because of their tremendous profit potential.
Short sales are simple math:
Lenders agree to sell distressed properties for less than is currently owed on the mortgage balances because the current owners are (likely) in — or about to — default. Bargain-hunting buyers (that’s you) score great deals and often enjoy instant equity bumps since they’re paying less than the properties are actually worth.
This month’s edition of “Investment Exchange” is devoted to acquainting (or reacquainting) you with short sales. You’ll find t Read full post…
Obama wants big changes in mortgages
February 14, 2011 by Matthew Bond · Leave a Comment
NEW YORK (CNNMoney) — The Obama administration on Friday officially unveiled its plan to remake the mortgage market and reduce the government’s role in housing finance by winding down Fannie Mae and Freddie Mac.
The highly anticipated “white paper” outlines steps the administration says will help draw private capital back into the mortgage market, curb unfair lending practices and make federal support for borrowers more targeted.
The plan would phase in changes over a period of years and push back the most dramatic restructuring, which would require congressional approval, until as late as 2018.
Lenders One partnered with Bank of Internet
February 13, 2011 by Jack Collie · Leave a Comment
Bank of Internet USA, is now a preferred investor of Lenders One Mortgage Cooperative, a St. Louis based national alliance of community mortgage bankers, lenders and suppliers of mortgage related products.
According to Lenders One, the partnership provides many advantages to its members, as lower prices and access to portfolio jumbo and super jumbo loan products.
“The jumbo market has been hit hard by the financial credit crunch, and there are still qualified borrowers who need loans,” said Scott Stern, Lenders One CEO. “Th Read full post…
Foreclosure.com 2010 Scholarship Winner, Kaitlyn Shumelda, video interview
February 13, 2011 by Darcy Beg · Leave a Comment
Congratulations, Kaitlyn Shumelda, our $5,000 grand prize winner! Kaitlin is currently enrolled as a junior at SUNY – Albany, majoring in linguistics. M
NYC LANDMARKS PRESERVATION COMMISSION TO HOST COMMUNITY MEETING IN BEDFORD STUYVESANT
February 12, 2011 by Darcy Beg · Leave a Comment
— The New York City Landmarks Preservation Commission (LPC) and Community Board 3 (CB3) will host an open community forum regarding the creation of new Landmark Districts in Bedford Stuyvesant at 6:30 on February 16th at Bedford Stuyvesant Restoration Corporation. Bedford Stuyvesant Restoration Corporation is located at 1368 Fulton Street. Officials from (LPC) will discuss the agency’s recent study for Bedford Stuyvesant and its plans to commence landmarking efforts in the area.
The 5 proposed historic districts in Bedford Stuyvesant are: Bedford Corners, Stuyvesant East, Stuyvesant Heights Extension, Stuyvesant North and Stuyvesant West.
Currently there are two historic districts in Bedford Stuyvesant, the 36 building enclave of Alice and Agate Courts designation in 2008, and the 12 block Stuyvesant Heights Historic District designated in 1971. If