Image by respres via Flickr If you are planning on buying an foreclosure home it is imperative that you work with an Realtor that is well versed with foreclosure transactions. Each bank has their own set of guidelines and many to not acknowledge the Arizona Real Estate Purchase Contract so the...

Short sales are different than bank-owned/foreclosure/repo homes, and also different than regular resales. They are a strange mix of the two. With a short sale, the owner still technically owns their home, but owes more on their mortgage than what the home is worth. Therefore, in order to sell, they...

Mortgage rates remained relatively unchanged today (see real time rates). In a speech today Bernanke suggest “the next step should be getting toxic assets, like those tied to subprime mortgages, off bank balance sheets”. (See video)  With Seattle being one of the few that has managed to weather...

After an impressive first week of 2009, rates have moved up slightly to start the week higher. MBS closed relatively unchanged, although early pressure pushed prices down, putting lender in the position to increase rates by .125% and hold them there for the day. Rates are still crazy LOW! Market moving...

http://en.wikipedia.org/wiki/Image:Quartz_crystal.jpg It’s that Time of Year again 2009 predictions. Comment on your TOP Three (3) Real Estate, Finance/Mortgage and Economic 2009 Predictions.  Whoever’s Predictions first come to fruition and scores a Trifecta will win themselves $300 (from Your...

Image courtesy: The Wall Street Journal) Those of you who know me or work with me, know I am not a fan of Loan Modifications. Yesterday the Government announced that Half (1/2) of all recent Loan Mods are in default again.  Earlier this year and under pressure from the government, mortgage lenders made...

In real estate, the term existing home refers to a “used” property; one that can’t be classified as new (Image courtesy: USA Today) construction. The number of existing homes sold each month is tracked by the National Association of REALTORS.  The report is often used as a gauge for...

Fannie and Freddie announced today they will suspend Foreclosure sells until Jan 09 starting the day before Thanksgiving. No Foreclosures for the Holidays, business will resume 2009. This step coupled with the slowing of Housing Starts could lead to a tighter housing supply, thus stabilize declining...

The Short Payoff Refinance, which is done through our standard FHA Loan Program.   Where as a “Short Sale” has become a well known solution for borrowers to avoid foreclosure by selling their home for less than what is owed, the “Short Payoff Refinance” (Short-Pay Refi or SPR) is becoming...

Foreclosure is a hot topic among the press lately.  It’s hard to turn on the television or open up a newspaper without seeing a story about it. But what’s most interesting about foreclosures is that they appear to be concentrated in certain areas of the country.  According to the foreclosure-tracking...