Housing Wire

JUNE 22, 2021

Servicers’ forbearance portfolio volume fell 11 basis points last week to 3.93%, according to a survey from the Mortgage Bankers Association. In fact, calculating mark-to-market CLTVs of homeowners in some form of mortgage postponement through February 2021, Black Knight estimated that 96% have at least 10% equity in their homes.

Short sale 390

Short sale Loans Equity Mortgages 390

Calculated Risk Real Estate

MARCH 7, 2024

During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined.

Closing 68

Closing Equity Principal Short sale 68

Housing Wire

MAY 9, 2022

housing market is more tied to mortgage buyers. We are a monster compared to them in population and the majority of homebuyers in America use mortgages. When mortgage rates rise, two things always happen here in America. As we can see below, our current situation isn’t about mortgage credit getting out of hand.

Short sale 529

Short sale Mortgages Equity Sales 529

Housing Wire

OCTOBER 31, 2022

One of the unsung heroes of the most prolonged economic and job expansion ever recorded in history was the passing of the 2005 Bankruptcy Reform Act and the 2010 qualified mortgage rule under Dodd-Frank. This is why I am very mindful of recent 100% loans that some banks are offering. have rates of 5% and below.

Bankruptcy 515

Bankruptcy Lending Equity Mortgages 515

Calculated Risk Real Estate

DECEMBER 7, 2023

During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined.

Closing 70

Closing Equity Principal Short sale 70

Keeping Current Matters

OCTOBER 21, 2020

Many housing experts originally voiced concern that the mortgage forbearance program (which allows families impacted financially by COVID to delay mortgage payments to a later date) could lead to an increase in foreclosures when forbearances end. Today, the vast majority of homeowners have significant equity in their homes.

Equity 202

Equity Banks Closing costs Loans 202

Lighter Side of Real Estate

APRIL 6, 2022

You’re probably well aware that mortgage rates are rising. Which means you’ve probably been reading or hearing about adjustable rate mortgages making a comeback. The 30-year fixed rate mortgage has been so historically low, they haven’t been all that necessary to consider. So your rate isn’t fixed for the life of the loan.

Mortgages 140

Mortgages Fixed-rate mortgage Banks Lending 140

HomeLight

SEPTEMBER 1, 2020

If that’s you, you may have heard that one path to a deal is buying a bank-owned foreclosure. There are pros and cons to consider when going this route, however, such as the fact that bank-owned properties often need more TLC than other homes on the market, and many are sold as-is. What’s a bank-owned foreclosure?

Banks 81

Banks Inspection contingency Inspection FHA loan 81

RIS Media

MARCH 23, 2022

of servicers’ portfolio volume in the prior month to 1.18%, according to the Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey, released last week. Independent Mortgage Banks (IMBs): 1.44% (previous month: 1.59%). resulted in repayment plans, short sales, deed-in-lieus or other reasons.

Loans 94

Loans Mortgages Staging Short sale 94

RIS Media

JANUARY 29, 2021

Lenders offer mortgages for borrowers with a wide range of financial circumstances. Between prime (highest-quality) and subprime (lowest-quality) home loans are a category called “Alt-A mortgages.” . The federal government sets guidelines for Qualified Mortgages that focus on a borrower’s ability to repay the loan.

Debt-to-income ratio 94

Debt-to-income ratio Mortgages Bankruptcy Loans 94

HomeLight

AUGUST 31, 2021

A foreclosed home is a property that has been seized by the bank after the homeowner failed to make their mortgage payments. A home goes through several steps before the bank physically takes over the house and sells the property. Let’s take a look at the most common foreclosure sales and how they work. Short sale.

Pre-approval 101

Pre-approval Short sale Banks Finance 101

HomeLight

OCTOBER 30, 2020

you’ve likely missed several months of mortgage payments or may be already incurring the lender’s attorney fees for your continued delinquency. Whatever stage you’re in, it’s natural to feel paralyzed with disappointment, sadness, and a sense of panic when those overdue notices and warnings come from your mortgage company.

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Short sale Banks Equity Mortgages 104

Realty Biz

JULY 19, 2022

Many of these will be new investors that don’t have experience with the pre-foreclosures, short sales, and foreclosures, that occurred during the Great Recession. If the house doesn’t sell on the court steps, the lender (bank) takes possession. The REO sales process is much the same as any traditional sales process.

Purchase and sale agreement 102

Purchase and sale agreement Short sale Loans Inspection 102

Realty Biz

AUGUST 6, 2021

As the market again plows bullishly upward into unaffordable home prices, the most likely cushion from a full market meltdown this time will be stricter bank loan regulations and homeowner equity. The housing bubble bust of 2008 resulted in almost 10 million Americans losing their homes to foreclosures and short sales.

Short sale 103

Short sale Loans Equity Mortgages 103

Realtor.com

DECEMBER 14, 2022

That’s why fixed-rate mortgages, the gold standard of home loans, have long been the most popular. These 15-, 20-, and 30-year mortgages aren’t exciting. Borrowers can lock in the amount of their monthly mortgage payments (minus taxes, insurance, and homeowners association fees) for the duration of their loans.

Fixed-rate mortgage 102

Fixed-rate mortgage Mortgages Loans VA loan 102

Realtor.com

DECEMBER 14, 2022

That’s why fixed-rate mortgages, the gold standard of home loans, have long been the most popular. These 15-, 20-, and 30-year mortgages aren’t exciting. Borrowers can lock in the amount of their monthly mortgage payments (minus taxes, insurance, and homeowners association fees) for the duration of their loans.

Fixed-rate mortgage 99

Fixed-rate mortgage Mortgages Loans VA loan 99

HomeLight

JUNE 16, 2023

But the reality of buying a house at auction typically means you’ll need lots of money in the bank (like, enough to purchase the thing outright), and that can be enough to bring your foreclosure auction dreams crashing back down to earth. When housing prices are especially strong, homeowners typically have lots of equity in their homes.

Hard money loan 81

Hard money loan Equity Finance Loans 81

RIS Media

MARCH 25, 2021

Fueled by low interest rates, loose mortgage-lending standards and the nation’s unshakeable faith in homeownership, home values rose at record rates year-after-year. When the housing bubble burst, roughly nine million families lost their homes to foreclosure or short sale between 2006 and 2014. Factor No. in December 2019.

Marketing 125

Marketing Equity Lending Short sale 125

HomeLight

SEPTEMBER 30, 2021

You’d like to sell your current home, but the mortgage isn’t paid off yet. Consider that most mortgages come with 15 or 30 year terms, while 52% of recent sellers sold before owning their home for 10 years, according to data from the National Association of Realtors. Next, find out how much you owe on your mortgage.

Mortgages 102

Mortgages Debt-to-income ratio Equity Closing costs 102

Marco Santarelli

JULY 23, 2022

People who recall the subprime mortgage crisis are concerned that the recent spike in home prices followed by a pause signals the bursting of another housing bubble. Due to the crash, there may also be short sales and foreclosures, offering you the opportunity to acquire a deal. But is the housing market truly in a bubble?

Mortgages 52

Mortgages Marketing Lending Equity 52

RIS Media

SEPTEMBER 21, 2020

Approved for short sale : A term that indicates that a bank has approved a homeowner for a reduced listing price on a home, and said home is ready for resale. Mortgage interest rate : The price of borrowing money. Short sale : The sale of a home by an owner who owes more on the home than it’s worth.

Pre-approval 63

Pre-approval Pre-qualification Title search Inspection 63

HomeLight

AUGUST 16, 2021

What is an REO sale? These are properties that have been foreclosed , and the ownership has fully transferred to the bank or lender. Properties get to this point after the borrower stops making mortgage payments for a period of time. There are online tips and tools available to help you find bank-owned homes.

Banks 104

Banks Pre-qualification Investor Short sale 104

HomeLight

SEPTEMBER 20, 2022

Short sales can provide an excellent opportunity for potential homebuyers to score a good deal. If you’re in the market to buy a short sale home, you’ll need to prepare for a lengthy closing process and steel yourself to jump through some hoops not generally associated with traditional sales. What is a short sale?

Short sale 87

Short sale Sales Pre-approval Equity 87

HomeLight

JUNE 30, 2021

Between favorable mortgage interest rates and a low inventory of available homes for sale, buyers were submitting purchase offers of thousands of dollars over asking price , and sellers (and their agents!) And when there’s an uptick in delinquent or defaulted mortgage loans, this could be a sign of the next housing recession.

Equity 66

Equity Loans Lending Industrial 66

HomeLight

OCTOBER 5, 2020

As fate would have it, right when you’re ready to start seriously searching for a home to buy, your dream house is listed for sale as a short sale. If you don’t know about short sale requirements for buyers, you might feel like you’re out of luck. What’s a short sale?

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Short sale Sales Pre-approval Pre-qualification 80

HomeLight

JUNE 8, 2021

If you don’t have the patience for this timeline, including the 49 days you’ll spend waiting for a traditional buyer’s mortgage to wrap, you’ll need to get creative with your plans. Even if your mortgage company has initiated the foreclosure process, you can still sell your home independently prior to your scheduled auction date.

Short sale 109

Short sale Agents Sales Days on market 109

HomeLight

DECEMBER 29, 2020

Sellers have equity, and short sales are unlikely. Selling your home before a recession may be the perfect opportunity to liquidate your equity and build up your nest egg. Also, homeowners with equity in their home are unlikely to need to negotiate a short sale because they won’t be underwater on their mortgage loan.

Short sale 94

Short sale Loans Equity Sales 94

HomeLight

AUGUST 16, 2021

You’ll learn how to prospect for distressed properties, how to approach homeowners, how to work with banks, and much more that will position you as the local expert with solutions to help those in need. Christina’s course: Working with Foreclosures and Short Sales. HUD Homes for Sale. Links and Show Notes.

Marketing 75

Marketing Short sale Bankruptcy Banks 75

HomeLight

SEPTEMBER 21, 2020

You’d like to sell off a piece of real estate, but you’re severely behind on your mortgage payments, owe a bunch of property taxes to the county, or find yourself in the midst of a heated divorce. A lis pendens is recorded on the title of the home, just like any other lien or mortgage. Steven Herzberg, Esq.

Title 95

Title Banks Investor Title search 95

HomeLight

DECEMBER 2, 2021

If you’re “upside-down” in your mortgage (owing more than the property is worth), you have a few options. One of them is a short sale. The process is complicated and confusing, often leaving a worrisome question in its wake: How long does a short sale stay on your credit? What is a short sale?

Short sale 85

Short sale Sales Loans Banks 85

HomeLight

MARCH 30, 2021

You may have heard a little bit about short sales — enough to know that this type of real estate listing can present some opportunities to get a good deal. But while short sales offer potential opportunities , they come with plenty of potential pitfalls as well. Know if a short sale is the best option for you.

Short sale 60

Short sale Sales Pre-approval Closing costs 60

HomeLight

DECEMBER 31, 2020

But selling too soon can be just as risky, causing you to forfeit sizable equity in a fast-appreciating property. If I had used all of the rent to pay down the mortgage, I would only owe around $40,000 today, so I would have $185,000 in equity (minus commissions and closing costs) if I still owned the property,” he says.

Equity 77

Equity Investor Closing costs Property Management 77

HomeLight

SEPTEMBER 30, 2020

Should you drop a full 20% on a house and avoid mortgage insurance , even if it nearly wipes out your savings? With a larger down payment, you’ll have a lower monthly payment, a potentially lower interest rate, and either a lower or no mortgage insurance payment.”. We had to do a short sale on our home and start from scratch.”.

Closing costs 86

Closing costs Loans Short sale Finance 86

HomeLight

OCTOBER 5, 2020

The lender that’s trying to collect on the defaulted mortgage will order an appraisal on the home to determine its worth. Also remember that, although you may be hoping for a discount, the bank is trying to recoup as much of the appraised value as possible. Those other claims might include: A second mortgage on the home.

Due diligence 54

Due diligence Earnest money deposit Banks Inspection 54

Calculated Risk Real Estate

JUNE 8, 2023

During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined.

Closing 94

Closing Equity Principal Short sale 94

Housing Wire

JANUARY 10, 2022

2021 was an extraordinary year for the housing market: mortgage rates at an all-time low, record high annual growth in single-family prices and rents, lowest foreclosure rates in a generation and the largest number of home sales in 15 years. In addition, more for-sale inventory will likely be available on the market.

Marketing 545

Marketing FHA loan Fixed-rate mortgage Loans 545

HomeLight

APRIL 29, 2021

With competing buyers and rising home prices, you could net more than what recent sales in your neighborhood suggest. If you’re looking to move, a seller’s market is a great time to cash out on your home equity. Your bank account will thank you! A flood of homes for sale gives homebuyers more options to choose from.

Marketing 109

Marketing Sales Agents Construction 109