Just as regulators, lawmakers and all forms of financial oversight boards are talking about new regulations to guard against mortgage fraud and another mortgage meltdown, there appears to be yet a new mortgage fraud out there today, allegedly perpetuated by agents of, yes, the big banks.
via CNBC.
Dennis Smith, president of Home Builders Research, said short sales will be the “story of the year” because of the effect they will have on the housing market.
via Calculated Risk
It’s crazy. Agents are Bank of America’s biggest customer. But they treat us like dirt on short sales. It’s like we don’t matter to them at all. However, we do matter and a whole lot more than they realize.
via Agent Genius.
When you consider the tax consequences, future ability to purchase a home and the length of time involved for all, is there a true benefit to a short sale vs. a foreclosure sale?
via Zillow Blog
With housing prices still in the dumps, many Americans are finding themselves in the uncomfortable position of landlord.
Some have been forced to relocate for a job and can’t sell their houses. Others have moved, but are holding on to their previous homes, hoping for prices to rebound before selling. Many are finding that rent checks don’t come close to covering their mortgage payments.
via MSN Real Estate.
The simple reason for this growing chasm is that foreclosures are selling roughly three times as frequently as short sales.
via RISMedia.
