By Dina ElBoghdady Washington Post Staff Writer Wednesday, June 16, 2010 After the bank foreclosed on Fernando Palacios’s Gainesville home in March, he thought he was done with what he described as the most stressful financial situation of his life. The bank sold the home for far less than Palacios owed on it, as often […]
Tag Archives: foreclosures
A shorter wait to buy after deliquency
To encourage distressed borrowers to agree to deeds-in-lieu of foreclosure, Fannie Mae is reducing the waiting period — from four years to two years — for them to become eligible for a new mortgage. The new policy, which will apply to loan applications submitted after June 30, requires a minimum downpayment of 20 percent from […]
Understanding the HAMP & HAFA program
This is a great video which will give you a very good understanding of how the HAMP & HAFA programs work and what you need to do to get approved. The Price Group have completed many short sales in Pinellas & Manatee, we are ready to assist you with the HAMP & HAFA programs, so […]
SFR certified (Short Sale & Foreclosure Resource agent)
I’m a pleased to announce that in addition to successfully negotiating and closing over 40 short sales in the past 24 months, I’ve also completed the “Short Sale & Foreclosure Resource course” The only course approved by the Board of Realtors. I’m now SFR certified, yes… Over the past 2 years I have developed a […]
Short Sale VS Foreclosure VS Deed-In-Lieu of Foreclosure; which of these is the best choice for a homeowner in distress
The foreclosure process can be very stressful for homeowners; some home homeowners get so depressed, that they do nothing, some 57% of homes get foreclosed on and the owner never called their lender to work out a loan mod or ask for help!. While others who are proactive sometimes end up being given the wrong […]
What you should know about home foreclosure
The Story below is something that isn’t just an isolated case, I’ve heard of people’s financial advisors advising clients it makes more sense to walk away and take the hit on their credit than wait 10-15 years to get their home value back to their mortgage amount. Something needs to be done to help more […]
Lifeline needed for underwater homeowners!
I’m meeting more and more homeowners who just don’t want to wait for the market value of their homes to catch-up to the price they paid or the mortgage they have. If your home has a lost a lot of equity and your underwater, maybe you are struggling to make the payments, their is hope, […]
Are you living the American Nightmare! Why others Profit?
The Problem:► ►Wall street got too greedy. ►ARM, Alt-A ARM, Option ARM, Prime ARM, Sub-prime ARM, these adjustable rate mortgages will continue reset to higher monthly payments which many homeowners will not be unable to afford. ►Millions of mortgage brokers originated these types of loans across the nation. ►Now the banks are literally overwhelmed and […]
Lifeline needed for underwater homeowners – Is Walking away the only option?
Link To Lifeline Needed For Underwater Homeowners I’m meeting more and more homeowners who just don’t want to wait for the market value of their homes to catch-up to the price they paid or the mortgage they have. If you’re home has a lot of equity and you’re underwater, maybe you are struggling to make […]
FHA to provide early relief to struggling homeowners
WASHINGTON – Jan. 25, 2010 – At-risk homeowners with FHA-insured mortgage loans are now eligible for loss mitigation assistance before they fall behind on their mortgage payments. Previously, homeowners weren’t eligible until they missed payments. The Helping Families Save Their Home Act of 2009 expanded FHA’s authority to use its loss mitigation tools to assist […]