I just got a hold of these news from the closing attorney I use for my properties. If you are interested in doing a short sale or investing in real estate through short sales, you will want to verify the following information and see if it can help you:
Changes to HAFA make more homeowners eligible for streamlined short sales.
Click Here to Finish Reading: Is It Possible That Short Sales Just Got Easier?...
Seizing an Opportunity: Housing Slump Whets Investors’ Appetite in Resale of Foreclosures
Most CEOs entered 2011 hoping the economy will soon fire on all cylinders. For one business chief, however, mortgage delinquencies and tight credit standards are a dream come true.
Sean Whalen is the CEO of Property23, an Orem-based startup that has successfully capitalized on the recent real estate meltdown, seeking out foreclosure properties across the country and prepping them for resale. Most of its clients are fellow investors who are hoping to rent or resell at double-digit profit when the recovery gathers steam. Since it was founded in 2008, the company has bought and sold no less than 4,000 properties and currently employs more than 100 people.
Click Here to Read: Seizing an Opportunity: Housing Slump Whets Investors’ Appetite in Resale of Foreclosures...
Sean Whalen is the CEO of Property23, an Orem-based startup that has successfully capitalized on the recent real estate meltdown, seeking out foreclosure properties across the country and prepping them for resale. Most of its clients are fellow investors who are hoping to rent or resell at double-digit profit when the recovery gathers steam. Since it was founded in 2008, the company has bought and sold no less than 4,000 properties and currently employs more than 100 people.
Click Here to Read: Seizing an Opportunity: Housing Slump Whets Investors’ Appetite in Resale of Foreclosures...
4 Questions Before Buying Your First House
The decision to buy a house is about more than just mortgage interest rates, the Case-Shiller Home Price Index, and property taxes. Your home is more than just an investment, it's also shelter, security and safety. That's why you should think about more than just finances when making the decision.
Click Here: 4 Questions Before Buying Your First House...
Click Here: 4 Questions Before Buying Your First House...
Trashed! Golf Course Home Is Called Worst Mess
A 2-story house on the Seacliff Golf Course in Huntington Beach is the worst example of "malicious vandalism'' of a foreclosed home that a top Realtor for bank-owned properties says he's ever seen in Orange County.
Click Here to Read: Trashed! Golf Course Home Is Called Worst Mess...
Utah Lawmakers Look To Reduce Foreclosures
For the third straight year, Utah was among the worst states in the U.S. for the rate of foreclosure filings per household, according to a recently released nationwide report. Two state lawmakers now want to do something about it.
Irvine, Calif.-based research firm RealtyTrac reported this month that Utah had the nation’s 5th highest foreclosure rate in 2010, representing nearly 20 percent hike from 2009 and a 119 percent jump from 2008. The report showed that one in every 29 Utah housing units received a foreclosure filing last year.
Click Here to Read: Utah Lawmakers Look To Reduce Foreclosures...
Irvine, Calif.-based research firm RealtyTrac reported this month that Utah had the nation’s 5th highest foreclosure rate in 2010, representing nearly 20 percent hike from 2009 and a 119 percent jump from 2008. The report showed that one in every 29 Utah housing units received a foreclosure filing last year.
Click Here to Read: Utah Lawmakers Look To Reduce Foreclosures...
Hulk Hogan Still Trying To Sell Off His Florida Real Estate
Hulk Hogan may have gotten married at his Clearwater, Florida home in December but that doesn't mean he isn't still trying to unload it. Not only that, he is still trying to sell the Belleair, Florida home that he shared with his ex-wife Linda and his family and was featured in the reality television show "Hogan Knows Best." Back in 2006 the five-bedroom home was listed at $25 million.
Click Here to Read: Hulk Hogan Still Trying To Sell Off His Florida Real Estate...
How Accurate Are Property Records?
A Utah court case in which the owner of a Draper townhouse got clear title to the property, even though he still owed $132,000 on it, raises new legal and financial questions about a property-records database created by mortgage bankers.
The award of a title free of liens means that whoever owns the promissory note on the Draper property — likely a group of faraway investors — no longer has the right to foreclose to collect on a delinquent loan. Indeed, the townhouse owner has sold the property and kept the money. Those who own the promissory note probably don’t even know what occurred.
Click Here: How Accurate Are Property Records?...
Before Shopping For A Place, Check Financial Readiness
You might be ready to buy a home, but are you armed with the knowledge you need? Do you know about credit score requirements? Are you familiar with flexible standards on Federal Housing Administration loans?
Whether you are a first-time homebuyer or an experienced owner, buying a house requires a "preflight check," in the words of Barry Zigas, director of housing policy for the Consumer Federation of America. "It's a brave, new world with respect to credit requirements for mortgages," says John Ulzheimer, founder of 2StepCredit.com and formerly of FICO, which pioneered credit scoring.
Click Here: Before Shopping For A Place, Check Financial Readiness...
Whether you are a first-time homebuyer or an experienced owner, buying a house requires a "preflight check," in the words of Barry Zigas, director of housing policy for the Consumer Federation of America. "It's a brave, new world with respect to credit requirements for mortgages," says John Ulzheimer, founder of 2StepCredit.com and formerly of FICO, which pioneered credit scoring.
Click Here: Before Shopping For A Place, Check Financial Readiness...
Nicolas Cage Las Vegas Home For Sale Again
Around this time last year we heard that the Las Vegas home that once belonged to Nicolas Cage has finally been sold. Kenneth Lowman, Broker/Owner of Luxury Homes of Las Vegas announced that he sold Cage's foreclosed, now bank-owned Las Vegas home the first day it was on the market at a new low price of $4.95 million. Cage, who once had a variety of properties scattered all around the world, picked up this home in 2006 for $8.5 million. In July 2008 he listed it for $9.95 million. The 14,000-square-foot home with a 16-car garage was later discounted to $9.49 million. The seven-bedroom home is blandly extravagant with a sweeping staircase, home theater, elevator and panoramic views of Las Vegas. The home has a pool and spa and is located in a gated community for privacy.
Click Here to Read: Nicolas Cage Las Vegas Home For Sale Again....
Click Here to Read: Nicolas Cage Las Vegas Home For Sale Again....
Why First Time Home Buyers Shouldn’t Target Their Dream Homes
People have a lot of expectations when buying their first home. Most first time home buyers probably envision opening the doors to their dream house and triumphantly walking into their mansion. The culmination of their hard work and even harder saved dollars are embodied in this perfect piece of property.
While that is a great image to strive for, a more practical approach may be to buy a starter home like a fixer-upper or condo to tide you over as your first purchase. It isn’t as pretty a setting as you’d like, but it could be a much smarter financial decision in the long run. In fact, it could help get you to that perfect home a little sooner.
Click Here to Read: Why First Time Home Buyers Shouldn’t Target Their Dream Homes...
While that is a great image to strive for, a more practical approach may be to buy a starter home like a fixer-upper or condo to tide you over as your first purchase. It isn’t as pretty a setting as you’d like, but it could be a much smarter financial decision in the long run. In fact, it could help get you to that perfect home a little sooner.
Click Here to Read: Why First Time Home Buyers Shouldn’t Target Their Dream Homes...
House Appraisal & Divorce
Most states require a home appraisal to settle the division of property in a divorce. The home easily represents one of the largest marital assets, and the outcome of the property division often adds to the emotional trauma. In addition, marital property may include commercial or vacation property. To achieve an equitable distribution of property between the spouses, courts depend on objective appraisal valuations of all real estate assets that are considered marital property.
New York Judges Hold Foreclosure Lawyers Responsible For Filings
As foreclosure cases continue to pour into courts, judges in New York are holding their fellow legal professionals accountable for their role in perpetuating foreclosure fraud.
Judges in the state say foreclosure lawyers have filed often ludicrous paperwork on behalf of their clients, which Nassau County District Court judge, Scott Fairgrieve, told the New York Times, "reflects poorly on the profession as a whole." Another judge referred to a lawyer's filings as "ludicrous," among other jabs.
Click Here to Read: New York Judges Hold Foreclosure Lawyers Responsible For Filings...
Judges in the state say foreclosure lawyers have filed often ludicrous paperwork on behalf of their clients, which Nassau County District Court judge, Scott Fairgrieve, told the New York Times, "reflects poorly on the profession as a whole." Another judge referred to a lawyer's filings as "ludicrous," among other jabs.
Click Here to Read: New York Judges Hold Foreclosure Lawyers Responsible For Filings...
Contemporary Beverly Hills House Has Old-World Flair
A verdant acre in the residential heart of Beverly Hills is the setting for a contemporary home with Old World flair designed by architect-to-the stars Harold "Hal" Levitt.
Levitt's design combines modern elements such as geometric skylights, generous sheets of glass, touches of concrete and an open floor plan in reimagining a European villa.
Levitt, who died in 2003, designed the Riviera Hotel in Las Vegas and the Academy of Motion Picture Arts and Sciences building in Los Angeles. He's better known, however, for the striking home plans he created for Lew Wasserman, Steven Spielberg, Quincy Jones and Dean Martin, to name a few of his high-profile clients.
Click Here to Read: Contemporary Beverly Hills House Has Old-World Flair...
Levitt's design combines modern elements such as geometric skylights, generous sheets of glass, touches of concrete and an open floor plan in reimagining a European villa.
Levitt, who died in 2003, designed the Riviera Hotel in Las Vegas and the Academy of Motion Picture Arts and Sciences building in Los Angeles. He's better known, however, for the striking home plans he created for Lew Wasserman, Steven Spielberg, Quincy Jones and Dean Martin, to name a few of his high-profile clients.
Click Here to Read: Contemporary Beverly Hills House Has Old-World Flair...
Utah County Woman Sues Group Of Developers
A 77-year-old Utah County woman is suing a group of developers, saying she was swindled out of $600,000 after being promised a 15 percent return on a real estate project in Hurricane.
The Salt Lake Tribune reports that Patricia Tanner has sued H&S Investments, Summit Development, Management, American Commercial Real Estate Specialists Group, and Utah Commercial Real Estate.
Click Here to Read: Utah County Woman Sues Group Of Developers...
The Salt Lake Tribune reports that Patricia Tanner has sued H&S Investments, Summit Development, Management, American Commercial Real Estate Specialists Group, and Utah Commercial Real Estate.
Click Here to Read: Utah County Woman Sues Group Of Developers...
The $60 Million Dream House
A group of wealthy art collectors and philanthropists dined on risotto and listened to chamber music at a 10-bedroom estate on a private island off Florida's Biscayne Bay last month. The mansion isn't owned by a Russian oligarch or a certain NBA player who recently moved to town. It was built purely on speculation by developers in search of a buyer.
Its asking price: $60 million.
Click Here to Read: The $60 Million Dream House...
Its asking price: $60 million.
Click Here to Read: The $60 Million Dream House...
Fewer Foreclosures Will Help Economy
Reducing the number of foreclosures will help stabilize the U.S. housing market and help patch one of the economy's most troubled sectors, officials said.
One state that is seeing fewer foreclosures is Arizona, The New York Times reported Sunday.
One reason for the reduction in foreclosures, which helps the market because it removes excess inventory, is the array of federal and state investigations into the way banks foreclose on delinquent homeowners, the report said.
One state that is seeing fewer foreclosures is Arizona, The New York Times reported Sunday.
One reason for the reduction in foreclosures, which helps the market because it removes excess inventory, is the array of federal and state investigations into the way banks foreclose on delinquent homeowners, the report said.
What Do I Put In A Short Sale Hardship Letter?
What in short sale and letter and why do I need to write one?
Please mail your real estate agent has explained the process of short sale to you and has told you that you need to write a short sale hardship letter. If you are reading this is most likely because they did not thoroughly explained that to you. The hardship letter is the statement from you to your lender as to why you no longer can make your mortgage payment and why they should accept a short sale on your home.
What should you never do when writing a hardship letter?
Your short sale hardship letter is not the place to complain about your lender! As you sit down to write your letter resist the urge to complain to your lender about how unfair they are and how bad your loan is. They simply do not care! You need to focus on staying factual and nonemotional as you write your hardship letter. Keep in mind that the person reading your hardship letter does not really care about your situation but has the power to approve or disapprove the sale of your home. Starting off by telling them how stupid they are, and how unfair the bank is been to them is not likely to help you.
Click Here to Read: What Do I Put In A Short Sale Hardship Letter?...
Please mail your real estate agent has explained the process of short sale to you and has told you that you need to write a short sale hardship letter. If you are reading this is most likely because they did not thoroughly explained that to you. The hardship letter is the statement from you to your lender as to why you no longer can make your mortgage payment and why they should accept a short sale on your home.
What should you never do when writing a hardship letter?
Your short sale hardship letter is not the place to complain about your lender! As you sit down to write your letter resist the urge to complain to your lender about how unfair they are and how bad your loan is. They simply do not care! You need to focus on staying factual and nonemotional as you write your hardship letter. Keep in mind that the person reading your hardship letter does not really care about your situation but has the power to approve or disapprove the sale of your home. Starting off by telling them how stupid they are, and how unfair the bank is been to them is not likely to help you.
Click Here to Read: What Do I Put In A Short Sale Hardship Letter?...
A Look at HGTV Dream Home in Stowe, Vermont
There’s only a few more weeks left to enter HGTV’s Dream Home sweepstakes. The fully-furnished custom-designed home, which is located at Spruce Peak in Stowe, Vermont, is the 15th home to be that the cable network has given away.
The Dream Home offers breathtaking views of Mt. Mansfield and the rural landscape, which is perfect for outdoor activities in all seasons. "This HGTV Dream Home is the first in Vermont, and we intend to show the features that make this location so amazing," said HGTV Dream Home Planner Jack Thomasson in a statement in June. "It's a spectacular place and the perfect location for our 15th anniversary home."
The Dream Home is 3,400 square-feet and features 3 bedrooms, three and a half bathrooms and lots of open spaces in which to entertain. A ski dorm is furnished with four sets of bunk beds to provide accommodation for your closest friends. Drink in the views of Vermont’s fall foliage with the floor-to-ceiling windows. The house also features a deck with a hot tub and outdoor fireplace—perfect for those chilly to downright freezing Vermont winter evenings. The home combines cutting-edge technology and modern architecture with a rustic mountain feel.
Click Here to Read More: A Look at HGTV Dream Home in Stowe, Vermont...
Homeowners Left In Lurch After Loan Modification Company Suddenly Closes
The sudden closure of a Utah County loan modification company has left several clients in danger of losing their homes.
The doors of Modify Utah's American Fork office located on east Utah Valley Drive were shuttered this week, leaving clients wondering what will happen to their homes. The company had been in the business of "assisting customers to obtain loan modifications of their home mortgage loans."
According to a letter from the firm's attorney, Paxton Guymon, Modify Utah ceased doing business for several reasons, including "a significant portion of (its) customers have failed or refused to pay ... for services provided, recently imposed restrictions impeding the company's ability to process or receive payments and lien holders unwillingness to work with loan modification companies."
Click Here to Read: Homeowners Left In Lurch After Loan Modification Company Suddenly Closes...
The doors of Modify Utah's American Fork office located on east Utah Valley Drive were shuttered this week, leaving clients wondering what will happen to their homes. The company had been in the business of "assisting customers to obtain loan modifications of their home mortgage loans."
According to a letter from the firm's attorney, Paxton Guymon, Modify Utah ceased doing business for several reasons, including "a significant portion of (its) customers have failed or refused to pay ... for services provided, recently imposed restrictions impeding the company's ability to process or receive payments and lien holders unwillingness to work with loan modification companies."
Click Here to Read: Homeowners Left In Lurch After Loan Modification Company Suddenly Closes...
For Sale: 10 of America's Strangest Homes
Millions of homes across the U.S. are on the market. Some are cookie-cutter McMansions. Many more are your undistinguished Colonials. Search hard enough, though, and you'll find unique — and in some cases downright weird — properties up for grabs.
Click Here to Read: For Sale: 10 of America's Strangest Homes...
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