Housing Wire

SEPTEMBER 8, 2022

Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. If they lost their job, they have a lot of equity in their home, and most likely their financials have gotten better over time.

Loans 542

Loans Banks Equity Closing costs 542

Housing Wire

JANUARY 4, 2024

When assessing December’s Home Equity Conversion Mortgage (HECM) volume data for December 2023, Reverse Market Insight (RMI) used a choice word as the title for its commentary : “thud.” But New View has been warning for virtually the entirety of 2023 that the year’s issuance levels would not come close to those record-breaking levels.

Mortgages 382

Mortgages Bankruptcy Principal Finance 382

Housing Wire

DECEMBER 29, 2022

As we close out 2022, it’s time to reflect on a historic year for the housing market, which was even crazier than the COVID-19 year of 2020. In 2008, the rise of foreclosures and bankruptcy were waving red flags before the job-loss recession even happened. Not even close. So is housing in a recession? Yes, it is.

Marketing 544

Marketing Bankruptcy Sales FHA loan 544

Housing Wire

APRIL 10, 2023

Unfortunately, that “instant” title commitment itself does not inherently equate to a faster close, as my colleague Matt Regan outlined in his recent article. Just as important, it saves our title partners time and money when critical issues are discovered upfront resulting in loans that may never close.

Title 304

Title Loans Equity Title search 304

Housing Wire

NOVEMBER 2, 2020

As a premier provider of innovative, high-performance software, data and analytics for mortgage and home equity lending and servicing, Black Knight is transforming the housing finance industry. The comprehensive MSP servicing system supports all areas of loan servicing for both first mortgages and home equity products.

Lending 370

Lending Bankruptcy Equity Loans 370

Housing Wire

SEPTEMBER 29, 2022

MAXEX is an Atlanta-based fintech company that is backed by leading private-equity and capital-markets investors, including J.P. Enabling bulk trading, which allows platform users to sell closed loan pools to one or more buyers in a single transaction. . Morgan Chase.

Marketing 323

Marketing Pre-approval Investor Bankruptcy 323

Housing Wire

OCTOBER 13, 2022

RTC), closed 747 S&Ls with assets of more than $407 billion. . The firm specializes in asset-backed credit, whole loans and private equity. The thrift crisis came to its end when the RTC was eventually closed on December 31, 1995,” the synopsis states. There likely will be 40 to 50 deals done this year.

Mortgages 352

Mortgages Marketing Banks Loans 352

Housing Wire

MAY 26, 2022

As you can see below, the inventory keeps falling from 2014 levels, and even with the weakness in demand this year, we are nowhere close to 2013 levels, let alone 2018 levels. People were filing for foreclosures and bankruptcy for years, and then, after all that, the job loss recession happened in 2008. housing market.

Construction 489

Construction Bankruptcy Sales House Flipping 489

Housing Wire

SEPTEMBER 18, 2023

How does the company expect to manage profit amid industry consolidation , bankruptcies and attrition? We’ve added an underwriting efficiency product, we’ve added a post-close product that’s going into production – so fairly new products. Kim: It’s a tough mortgage origination market right now.

Technology 450

Technology Mortgages Bankruptcy Industrial 450

Housing Wire

JULY 22, 2022

FGMC) filed for Chapter 11 bankruptcy protection at the end of June — leaving four warehouse lenders on the hook for more than $415 million. Sprout Mortgage on July 6 closed its doors suddenly, leaving hundreds of employees without jobs and paychecks. It’s whether they’re able to sell off their closed loans. Warehouse Lenders.

Lending 351

Lending Banks Bankruptcy Loans 351

Propmodo

APRIL 30, 2024

Investment data firm Prequin estimates global real estate funds operated by private equity firms had a record $544 billion in cash as of the second quarter of 2023, up from $457 billion at the end of 2022. As property distress spreads, other debt-workout scenarios like bankruptcies and foreclosures will still be in play.

Commercial 67

Commercial Bankruptcy Investor Equity 67

Housing Wire

MAY 25, 2022

The home itself is a depreciating asset, which makes it difficult for manufactured homeowners to build equity or intergenerational wealth. Instead, they have opted to finance manufactured homes that more closely resemble site-built homes, are titled as real property and cost much more. The loans, called chattel, are rarely refinanced.

Finance 347

Finance FHA loan Loans Bankruptcy 347

HomeLight

FEBRUARY 23, 2024

Receive your offer in 24 hours and close in as few as 10 days. Here are a few reasons why you might find yourself in a need-to-sell situation: Tight finances: Selling fast can alleviate the stress of financial burdens such as medical bills, bankruptcy, or looming foreclosure. No showings, no repairs, no open houses.

Bankruptcy 93

Bankruptcy Sales Inspection Equity 93

Housing Wire

DECEMBER 8, 2021

Even with the hottest economic and inflation rate of growth in decades, the 10-year yield hasn’t been close to even testing my high-level range, and I am not in the camp that rates are a sure lock to go higher in 2022. Higher rates would create more days on the market, which I would love to see. However, it’s not happening.

Bankruptcy 510

Bankruptcy Loans Sales Short sale 510

HomeLight

JUNE 16, 2023

If you’re a homeowner with consumer or student debt, it’s tempting to tap into your home’s equity with a cash-out refinance to pay down these balances. Homeowners may refinance to secure a lower interest rate, change their loan terms, or, as in this case, tap into their home equity.

Fixed-rate mortgage 59

Fixed-rate mortgage Equity Debt-to-income ratio Loans 59

HomeLight

AUGUST 31, 2020

This means that you cannot sell your house and pocket any equity from the sale until that tax lien debt is satisfied. As that tax debt piles up, it’ll swiftly eclipse any equity that you’ve built up in your home. That tax debt is yours and you’ll need to deal with it before the sale can close. What is a tax lien on a home?

Bankruptcy 90

Bankruptcy Equity Title Closing 90

Toronto Realty Blog

MARCH 1, 2023

If you close your eyes and picture the northwest corner of Bloor and Dundas in Roncesvalles, what do you see? After all, they’re developers, not equity groups or banks. Many times, these projects are effectively canceled by somebody else… – 4) Bankruptcy. I see a leopard. No, wait, it’s something else.

Construction 72

Construction Bankruptcy Pre-approval Purchase and sale agreement 72

Realty Biz

JULY 14, 2021

Unlike most other states, Florida protects your home from foreclosure, even if you file for bankruptcy. Due to Florida’s high closing cost, buying a house here is more expensive than buying elsewhere. Fort Myers golf homes have equity and bundled golf communities along with comfort, luxury, and quality of life.

Bankruptcy 109

Bankruptcy Closing costs Equity Agents 109

HomeLight

NOVEMBER 9, 2021

According to Benson, homeowners sometimes contact her directly for an appraisal if they need to know how to price their home, if they’re getting ready to retire, or if they’re declaring bankruptcy. The appraisal values the property at $355,000 and the sale closes successfully. They receive an offer for their asking price.

Purchase and sale agreement 84

Purchase and sale agreement Equity Bankruptcy Finance 84

Realty Biz

DECEMBER 29, 2021

You must use the home as your primary residence for at least a year, it must have been at least two years since any bankruptcy (and three years since any mortgage foreclosure), you must be current on your taxes and federal loan payments, and you’ll be required to get a strict home appraisal. There are a few other conditions for an FHA loan.

FHA loan 104

FHA loan Loans Bankruptcy Mortgages 104

HomeLight

AUGUST 26, 2020

The good news is, you can arrange to have PMI removed once you have 20% equity built up in your home. However, the lender will not automatically remove PMI once you hit your 20% equity threshold — so be sure to keep an eye on it and contact your lender when you know you have 20% equity built up. – 1.75% payment at closing.

FHA loan 53

FHA loan Loans Debt-to-income ratio Bankruptcy 53

Realty Biz

OCTOBER 4, 2022

Rent-to-own is a great way to buy a house after bankruptcy or when you have a ding in your credit. If home values shoot up over the term of your lease, you’ll have more equity when you apply for a mortgage. A portion of your rent is also going toward building equity in the home. The option fee is nonrefundable.

Purchase and sale agreement 69

Purchase and sale agreement Mortgages Loans Bankruptcy 69

HomeLight

MARCH 16, 2023

Receive your offer within a week and close in as little as 10 days. Investors offer alternatives to foreclosure and bankruptcy About 60% of sellers who contact Ramcharitar are behind on their mortgage payments. While some homeowners opt for foreclosure in a distressed situation, others decide to declare bankruptcy.

Sales 63

Sales Purchase and sale agreement Earnest money deposit Investor 63

Realty Biz

SEPTEMBER 30, 2023

Longer time to build equity: With a higher interest rate and potentially larger down payment, it may take longer for you to build equity in your home. They have a wide range of loan programs available and work closely with applicants to find the best mortgage solution based on their specific financial circumstances.

Finance 97

Finance Debt-to-income ratio FHA loan Mortgages 97

HomeLight

DECEMBER 23, 2021

If you have a lien against the property such as mortgage, second mortgage, or home equity line of credit, you’ll need to resolve that lien using proceeds from the sale. Before a buyer can take title to a house, the seller must clear title, or in other words prove that the title is free of issues such as liens, judgments, or bankruptcies.

Title 107

Title Title search Bankruptcy Due diligence 107

HomeLight

JULY 12, 2022

Get cash fast: Unexpected expenses that pile up due to job loss, hospitalization, or even inflation might cause you to consider how to quickly convert your equity to cash , so you can relieve debt. Because they can close in as little as 10 days, online quote companies may be the solution to help protect your hard-earned equity.

Purchase and sale agreement 78

Purchase and sale agreement Investor Equity Closing 78

Realtor.com

MARCH 24, 2021

With her children’s schools closed, Fairbanks says, it was impossible to return to work. Knowing that a foreclosure was pending, Fairbanks contacted a real-estate agent to sell her house, which would likely allow her to walk away with upwards of $100,000 in equity, she says. Home Matters did not respond to requests for comment.

As-is 85

As-is Mortgages Purchase and sale agreement Bankruptcy 85

HomeLight

AUGUST 10, 2022

Get an offer in as few as 48 hours and close in as little as 10 days. We Buy Houses companies in Chicago typically promise quick, all-cash offers and ultra-fast closings, often in as few as seven days. If you accept the offer, you’ll both sign a contract and the closing process will begin. Diamond Equity Investments.

Closing costs 73

Closing costs Purchase and sale agreement Closing Staging 73

The Close

JANUARY 20, 2023

This means that you may need to create a plan for marketing to homeowners in foreclosure or divorce and bankruptcy attorneys. To identify your exit strategy, review your financial projections and identify points where your balance sheet reflects low liabilities alongside high cash and equity. These are good exit points.

Investor 92

Investor Finance MLS Property Management 92

Notorious ROB

JUNE 14, 2022

If you look closely, you can sorta see the stock market absolutely crashing, then the massive money printing, which causes a very sharp rebound. That’s close enough for real concern. Equities down 80%? Thousands of bank failures, bankruptcies, foreclosures, and immense social misery. 25% unemployment rate?

Banks 98

Banks Bankruptcy As-is Marketing 98

Housing Wire

APRIL 22, 2022

The pool of non-QM borrowers includes real estate investors, property flippers, foreign nationals, business owners, gig workers and the self-employed, as well as a smaller group of homebuyers facing credit challenges, such as past bankruptcies. That’s when things can get very volatile and be very painful for a lot of lenders.

Loans 365

Loans Lending Mortgages Investor 365

The Close

DECEMBER 27, 2022

Foreclosure filings begin to increase as financially distressed homeowners no longer have the option to refinance and access their equity, and the tighter market gives them few options to sell or downsize. Remember what happened to Icarus: In his overconfidence, he flew too close to the sun, his wings melted, and he fell to his death.

Investor 94

Investor Staging Marketing Banks 94

The Close

MARCH 9, 2023

Within two short years, the Keller Williams brokerage I was leading went from near bankruptcy to number 10 out of more than 700 brokerages! And with less equity, sellers are more focused on paying their mortgage than moving up into a larger house. However, once the market shifted, the buyers stopped calling—and then so did the sellers.

Agents 90

Agents Marketing Brokerage Bankruptcy 90

Redfin

MARCH 3, 2021

The homebuyer typically pays for the appraisal either up-front or at the time of closing. . The lender wants proof that the amount of the loan does not exceed the value of the home, or they end up taking on more risk in the event you default on your loan and go into bankruptcy. Why is the home appraisal process so important?

Bankruptcy 73

Bankruptcy Land Loans Sales 73

HomeLight

JULY 31, 2021

turn four walls and a roof into money in the bank, without the need for inconvenient showings, nail-biting appraisals , or a 50-day closing. They look for motivated sellers who want to close quickly and avoid the potential complications of financing or sale contingencies, even if it means accepting a lower offer price,” he explains.

Earnest money deposit 98

Earnest money deposit Inspection Proof of funds Inspection contingency 98

HomeLight

DECEMBER 1, 2021

If you have the financial resources to stay afloat, it could be better to wait until the market swings to your favor rather than lose some or all of your equity by selling at a loss. You just stumbled upon your once-in-a-lifetime dream house and need to sell your current home quickly , even if it means losing some of your equity.

Purchase and sale agreement 102

Purchase and sale agreement Short sale Loans Mortgages 102

Real Estate Finance HQ

AUGUST 25, 2017

Bankruptcy: You can qualify for FHA loans one year after Chapter 13 bankruptcy, two years after Chapter 7 and three years after a foreclosure, provided you’ve had no negative credit events since. FHA mortgage insurance is charged both as a fee at closing as well as each month as part of your regular loan payment.

FHA loan 40

FHA loan Debt-to-income ratio Inspection Loans 40