Tag Archive

House Flipping: The Good, The Bad & The Ugly

Published on 05/26/2016 By Coldwell Banker Innovations

We’ve all watched the shows on television and, chances are very good we’ve turned to our spouses or friends and asked the same question: “Why can’t we do that”? Yes, even when the unexpected occurs during these house flipping reality shows it seems the homeowner always comes out not only unscathed, but turning a pretty […]

Many homes come out of negative equity!

Published on 09/12/2012 By Jflook

The proportion of homeowners with negative or near equity in their homes declined in the second quarter of the year with 600,000 borrowers reaching a state of positive equity during the quarter making a total of 1.3 million so far this year. Negative equity refers to a mortgage with a balance greater than the value […]

Mortgage rates may remain low through 2015

Published on 08/31/2012 By Jflook

Federal Reserve Policymakers revealed recently that mortgage rates may remain at their current rock bottom lows for as long as another three years.  San Francisco Fed President John Williams, in an interview from Jackson Hole, Wyo., said he was “concerned that we could be stalling at the current high level of unemployment.” As a result, […]

More than 200 million in assistance to MD homeowners

Published on 08/30/2012 By Jflook

Attorney General Douglas F. Gansler announced today that distressedMarylandhomeowners have received more than $220 million in relief from the National Mortgage Settlement as of the end of June. Maryland’s share of the $25 billion National Mortgage Settlement has been estimated at nearly $1 billion, with more than 2800 MD homeowners receiving assistance from March 1, to […]

HUD helps homeowners avoid foreclosure

Published on 08/15/2012 By Jflook

The U.S. Department of Housing and Urban Development is now accepting applications from investors interested in buying pools of severely distressed mortgages formerly insured by the Federal Housing Administration, HUD announced today. To help avoid unnecessary foreclosures and further stabilize communities, HUD is increasing its original goal of selling 5,000 loans per quarter to approximately 9,000 […]

REO properties being held in inventory

Published on 08/01/2012 By Jflook

It would seem that the shadow inventory is larger than most have expected.  The shadow inventory are REO (Real Estate Owned) properties, or more commonly bank owned foreclosures.  As many as 90 percent of REOs are withheld from sale, according to estimates recently provided to AOL Real Estate by two analytics firms. It’s a testament […]

HOA’s fight banks for payment of dues!

Published on 07/20/2012 By Jflook

In an unusual David and Goliath story, JP Morgan is being sued by a Homeowners association for not paying the monthly HOA fees on a foreclosed property it took the title for some two years ago.  The associated fees amount to nearly 19,000 dollars.  It has become common for major banks who foreclose on properties […]

IRS to offer new programs to struggling taxpayers

Published on 06/19/2012 By Jflook

The IRS has recently announced an expansion of its “Fresh Start” Initiative by offering more flexible terms to its OIC (Offer In Compromise) program.  This move is intended to allow financially distressed taxpayers to clear their tax problems in a shorter time period, some times in as little as two years, as compared to four […]

Shadow inventory exposed to the light!

Published on 06/15/2012 By Jflook

In April the Shadow inventory of distressed properties in theUS housing market hit a new low that paralleled the decline in for sale inventory.  Shadow inventory is defined as properties seriously delinquent by 90 days or more, in the foreclosure process, and those that have finished the foreclosure process and become REO (real estate owned) […]