Posted on 02 September 2010
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting! We get a lot of questions about short sales and foreclosures from Atlanta home buyers these days. Here’s one of the most common. Q: How is the purchase process different between a short sale and foreclosure? A: To give [...] Continue Reading
Posted on 30 August 2010
According to the State Foreclosure Prevention Working Group’s latest report on home loan delinquencies, we have seen an improvement in loan modifications not becoming delinquent within the following six months. Loans modified in 2009 are 40 to 50 percent (40% – 50%) less likely to be seriously delinquent six months after modification than loans modified at [...] Continue Reading
Posted on 30 June 2010
Homebuyer Tax Credit Extended Atlanta home buyers, you may yet get that homebuyer tax credit. Late today, the Senate passed a bill to extend the $8,000 homebuyer tax credit until September 30th. It now goes to President Obama, who is expected to sign the bill. The bill was overwhelmingly approved by the House on Tuesday. The deadline [...] Continue Reading
Posted on 09 April 2010
You may be in the market and wanting to take advantage of the $8,000 first-time homebuyer tax credit or the $6,500 repeat homebuyer tax credit and have heard the horror stories about short sales and how long they can take to complete. With the tax credit deadline looming at the end of the month, it’s a natural [...] Continue Reading
Posted on 01 April 2010
Foreclosures are continuing to be a pressing issue around the country as well as in Atlanta Georgia. A homeowner who has stopped making their mortgage payments is at risk of their home being foreclosed. There are options for Atlanta homeowners, but often a short sale is teh only viable option. It’s always stressful enough when [...] Continue Reading
Posted on 07 March 2010
Georgia is third in the nation, with 13.5 percent of mortgages one or more payment past due as of December 31st, according to the Mortgage Bankers Association’s National Delinquency Survey. Florida and Nevada came in at #1 and #2. The MBA said the drop in the 30-day delinquency rate is “a concrete sign” that the [...] Continue Reading
Posted on 05 March 2010
That’s right, 28%. Not a good number. More than 441,500, or 28 percent, of all residential properties with mortgages in Georgia, were in negative equity at the end of the fourth quarter, according to a new report. The report was prepared by Santa Ana, Calif.-based First American CoreLogic Inc., a real estate information company. Negative [...] Continue Reading
Posted on 01 March 2010
Apparently someone is starting to realize that the government’s Home Affordable Modification Program (HAMP) is not very effective. The Obama administration is considering expanding their attempt to to ease the housing crisis by banning all foreclosures on home loans unless they have been screened and rejected under the program. Currently, lenders can begin foreclosure proceedings [...] Continue Reading
Posted on 25 February 2010
Freddie Mac, one of the two big mortgage finance companies taken over by the government, announced earnings today. It reported a net loss of $6.5 billion, which is great compared to a net loss of $23.9 billion in the same quarter a year ago, but a loss is a loss. So we’re talking semantics when a [...] Continue Reading
Posted on 15 February 2010
Federal and mortgage industry officials are increasingly looking for ways to get distressed borrowers to leave their homes voluntarily, without going through the expensive foreclosure process or a messy eviction. Citigroup, for instance, plans to announce a pilot program on Thursday that would allow delinquent borrowers who don’t qualify for or decline mortgage relief the [...] Continue Reading
Posted on 12 February 2010
Forecasts are coming in, that despite mortgage foreclosure filings in the country dropping in January, projecting a surge in foreclosures due to the ongoing impact from unemployment rates and uncertainty over the economy. One in every 409 U.S. housing units received a foreclosure filing in January, Irvine, California-based RealtyTrac said in its January 2010 U.S. Foreclosure [...] Continue Reading
Posted on 27 January 2010
With continued high unemployment and depressed home prices, expect to see foreclosures continue to rise in 2010. A record 3 million U.S. homes are projected to be repossessed by lenders this year. In 2009, there were 2.8 million foreclosures according to RealtyTrac and 4.5 million foreclosure filings ares projected for this year. There were 3.96 [...] Continue Reading
Posted on 02 January 2010
Foreclosure prevention efforts need to become vastly more effective or housing prices will resume their tumble, according to a new report by Credit Suisse analysts. The industry can expect to see either housing stabilization or “a renewed leg down” in the second half of 2010, depending on the success rate of foreclosure prevention efforts, global [...] Continue Reading
Posted on 26 December 2009
Last week, the Obama administration issued their first monthly reports on mortgage loan modifications, which is really intended not to show America that the government is watching, but more of trying to publicly disgrace banks into making a concerted effort to fix the issues that they so aptly created. As we mentioned in the article, [...] Continue Reading
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