Coming on the heels of the Obama Administration's recent launch of a new program to help troubled homeowners, the government has launched a new website to offer assistance to those seeking relief from mortgage payments they cannot afford. The website Making Home Affordable offers several resources to help troubled homewowners … [Read more...] about Making Home Affordable – Website Helps Homeowners Struggling with Mortgage Payments
Real Estate Reality
Have you heard the old saying: "A recession is when your neighbor loses his job...a depression is when you lose your job." Yeah, that used to be kind of funny until we all found ourselves in a position where we had to decide between the two. Face it, we are all in one category or the other these days. This saying comes to mind … [Read more...] about Is it a Recession or a Depression?
I recently posted about the zombies of real estate - the short sales. At the opposite side of the spectrum are the foreclosed homes, commonly known as REO's (Real Estate Owned) or homes owned by the bank. REO's are being listed at very competitive prices and often sell in a matter of days. In many areas, the majority of homes … [Read more...] about Bank-Owned Homes – Selling like Hotcakes!
Short sales are the most misunderstand real estate transaction out there. A short sale, or "pre-foreclosure" sale occurs when the Seller is selling the home for less than what is owed to the bank, or banks, if there is a second mortgage on the property. The transaction can only take place if the bank (or banks) approve the … [Read more...] about Are Short Sales Worth It?…The Zombies of the Real Estate Market