Tweet By Mark Puente, Times Staff Writer “Only 60 Floridians have received cash from a Bank of America program that pays up to $20,000 to homeowners who sell distressed properties in a short sale. The lender still expects thousands more in the Sunshine State to collect the money before the pilot program ends in August. [...]
Entries Tagged as 'Short Sales'
So far, only 60 take up Bank of America on short sale incentive
January 31st, 2012 · No Comments · Commercial Loans, Foreclosure, Litigation, loan modification, News, Real Estate Law, Short Sales, Uncategorized
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Tight-fisted mortgage lenders pressure home sales
January 28th, 2012 · No Comments · Commercial Loans, Foreclosure, loan modification, News, Real Estate Law, Short Sales, Uncategorized
Tweet By John W. Schoen, Senior Producer | http://bottomline.msnbc.msn.com “Home prices have fallen by a third since 2006, creating tremendous bargains for home buyers. Mortgage rates are at rock-bottom lows, making houses more affordable than they have been in decades. Yet home sales last year fell to the lowest levels since the government began keeping records [...]
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5 nasty surprises that can stop your home purchase cold
December 5th, 2011 · No Comments · loan modification, News, Short Sales, Uncategorized
Tweet By Marilyn Lewis of MSN Real Estate: “When a seller wants to sell a home and finds a buyer who wants to buy it, you’d think they’d have a deal. What could go wrong? These days, plenty. In this tough financial climate, there are both longstanding pitfalls and a crop of new ones. At best, these can [...]
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Almost half of Bay Area homes are under water
November 29th, 2011 · No Comments · Foreclosure, News, Short Sales, Uncategorized
Tweet By Times Staff | tampabay.com “Nearly half of all Tampa Bay homes with a mortgage were under water at the end of September. A mortgage is underwater when a homeowner owes more than the house is worth. The condition, also known as negative equity, afflicted 47 percent of residential mortgages locally, or 311,511 homes, [...]
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Untangling Florida’s foreclosure crisis
November 29th, 2011 · 2 Comments · Foreclosure, loan modification, News, Real Estate Law, Short Sales, Uncategorized
Tweet http://www.tampabay.com | “Florida’s foreclosure crisis seems like a never-ending nightmare. Mortgages are caught up in MERS, an electronic database that most homeowners never heard of until the foreclosure crisis. Homeowners in foreclosure are worried that robo signing by lenders’ employees may have led to mortgage fraud. The mortgage process itself is under scrutiny [...]
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Banks Refusing To Take Back Foreclosed Properties
May 31st, 2011 · No Comments · Foreclosure, News, Short Sales, Uncategorized
Tweet by MHARI SAITO (npr.org) “Let’s say you’re one of the millions of Americans facing foreclosure. You made mistakes, borrowed more than you should have — or maybe you lost your job — and now have to walk away from your house. In some parts of the country, simply walking away isn’t so simple — especially [...]
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State foreclosure mediation program sputters
May 4th, 2011 · No Comments · Commercial Loans, Foreclosure, Litigation, loan modification, News, Real Estate Law, Short Sales, Uncategorized
Tweet By Mark Puente, Times Staff Writer “A mediation program ordered by the Florida Supreme Court to prevent foreclosures has helped only 2,162 homeowners keep their homes. That’s just 3.7 percent of 57,909 foreclosure cases sent to mediation statewide between March and November 2010. Pinellas and Pasco counties recorded 143 settlements between lenders and borrowers, [...]
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