Housing Wire

JUNE 22, 2021

Portfolio loans and private-label securities (PLS) decreased 35 basis points to 7.98% and the percentage of loans in forbearance for independent mortgage bank servicers decreased 16 basis points to 4.05%. For others, it should be adequate for properly selling through traditional real estate channels to avoid a default or short sale.

Short sale 378

Short sale Loans Equity Mortgages 378

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

Housing Wire

MAY 9, 2022

A lot of mortgage debt went away due to foreclosures and short sales, bringing home prices way down. One of the reasons homeowners can’t sell their homes at a 50%-80% discount so freely is because the bank won’t allow them to if the home value goes below the house’s debt. Currently, the balance sheet of the U.S.

Short sale 527

Short sale Mortgages Equity Sales 527

Keeping Current Matters

OCTOBER 21, 2020

During the housing crash twelve years ago, many homeowners owned a house that was worth less than the mortgage they had on that home (called negative equity or being underwater ). Many decided they would just stop making their payments and walk away from the house, which then resulted in the bank foreclosing on the property.

Equity 202

Equity Banks Closing costs Loans 202

Housing Wire

OCTOBER 31, 2022

This is why I am very mindful of recent 100% loans that some banks are offering. After the housing bubble crashed, a lot of household debt got deleveraged through foreclosures, short sales and bankruptcies. Also, homeowners have been living in their homes longer and longer, so their nested equity position has improved over time.

Bankruptcy 513

Bankruptcy Lending Equity Mortgages 513

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 77

Banks Inspection contingency Inspection FHA loan 77

CT Homes

MARCH 7, 2024

A mortgage is essentially a loan from a bank or financial institution that enables you to purchase a home. The Role of Equity Equity is the portion of your home that you truly “own” — the difference between your home’s market value and the outstanding balance of your mortgage.

Purchase and sale agreement 78

Purchase and sale agreement Mortgages Equity Short sale 78

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 97

Pre-approval Short sale Banks Finance 97

HomeLight

OCTOBER 30, 2020

When you still have months left until the bank starts initiating foreclosure, you have time to prep your home for sale , so that it shows well and sells for the best possible price. What many homeowners don’t realize is that they have equity built up in their house that can help them out of their current financial difficulty.

Short sale 104

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

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 77

Hard money loan Equity Finance Loans 77

Lighter Side of Real Estate

APRIL 6, 2022

A difference is, back in 2007 and the years leading up to it, banks had been lax in their lending standards, and much of the market was affected by what is known as “subprime” mortgages. Which means your payment will adjust, and you should bank on it adjusting up when it does, not down. Find out when your rate can be adjusted.

Mortgages 139

Mortgages Fixed-rate mortgage Banks Lending 139

RIS Media

MARCH 25, 2021

When the housing bubble burst, roughly nine million families lost their homes to foreclosure or short sale between 2006 and 2014. Loose mortgage lending practices ultimately brought down some of the nation’s largest banks and mortgage companies. 3: Most Homeowner’s Cushion—Equity. Factor No. in December 2019.

Marketing 123

Marketing Equity Lending Short sale 123

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. There are online tips and tools available to help you find bank-owned homes. Source: (Andre W. Nguyen / Unsplash). Go to your county’s office and ask for the pre-foreclosure list ,” he says.

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 83

Short sale Sales Pre-approval Equity 83

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. percent of the yearly loan amount, can be canceled in certain circumstances when the borrower reaches 20 percent equity. The fee, usually 0.3 – 1.5

Pre-approval 61

Pre-approval Pre-qualification Title search Inspection 61

RIS Media

MARCH 23, 2022

Independent Mortgage Banks (IMBs): 1.44% (previous month: 1.59%). resulted in repayment plans, short sales, deed-in-lieus or other reasons. The share of other loans (e.g., portfolio and PLS loans) in forbearance decreased relative to the prior month: from 3.02% to 2.72%. Depositories: 0.97% (previous month: 1.06%).

Loans 91

Loans Mortgages Staging Short sale 91

RIS Media

JANUARY 29, 2021

A lender may instead base its decision on information contained in bank statements. After a bankruptcy, foreclosure or short sale, a prospective homebuyer may have to wait a period of time before taking out a new prime mortgage. A high loan-to-value ratio means that an Alt-A borrower will have little or no equity.

Debt-to-income ratio 91

Debt-to-income ratio Mortgages Bankruptcy Loans 91

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?

Short sale 76

Short sale Sales Pre-approval Pre-qualification 76

The Close

DECEMBER 27, 2022

Real estate sales by unit. Preforeclosure and bank-owned properties, or REO. 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. Preforeclosure and short sales are more common.

Investor 99

Investor Staging Marketing Banks 99

HomeLight

JUNE 8, 2021

Here are a few options to avoid: Short sales. The main thing you need to know about short sales is that the “short” refers to money , not time. Selling short means that your lender has agreed to allow you to sell your home for less than you owe on it. FSBO (For Sale By Owner).

Short sale 109

Short sale Agents Sales Days on market 109

HomeLight

JUNE 30, 2021

General Motors and Chrysler have been auto industry bailout recipients , and big names like Bank of America, Wells Fargo, and Goldman Sachs are just a few of those bailed out in the banking industry. Housing-specific recession sign #7: Home equity is stretched. Building equity is every homeowner’s goal.

Equity 64

Equity Loans Lending Industrial 64

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

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 90

Short sale Loans Equity Sales 90

HomeLight

DECEMBER 2, 2021

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? Your agent will also ensure that all additional legal guidelines required in a short sale are followed.

Short sale 81

Short sale Sales Loans Banks 81

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 59

Short sale Sales Pre-approval Closing costs 59

HomeLight

SEPTEMBER 30, 2021

A mortgage is more likely to become underwater if a seller falls behind on mortgage payments, sells before they’ve gained much equity, or sells during a market downturn. It’s always going to be a good first check to call the bank and ask for a payoff statement,” shares Richie Helali , Mortgage Sales Leader at HomeLight. “It

Mortgages 100

Mortgages Debt-to-income ratio Equity Closing costs 100

Realtor.com

DECEMBER 14, 2022

Those still scarred from the Great Recession will remember watching in horror as millions of homeowners lost their properties to foreclosures and short sales after their mortgage payments suddenly spiked. But if rates stay elevated, or worse, rise, buyers could be saddled with higher payments that may be tough to afford.

Fixed-rate mortgage 102

Fixed-rate mortgage Mortgages Loans VA loan 102

Realtor.com

DECEMBER 14, 2022

Those still scarred from the Great Recession will remember watching in horror as millions of homeowners lost their properties to foreclosures and short sales after their mortgage payments suddenly spiked. But if rates stay elevated, or worse, rise, buyers could be saddled with higher payments that may be tough to afford.

Fixed-rate mortgage 99

Fixed-rate mortgage Mortgages Loans VA loan 99

HomeLight

SEPTEMBER 21, 2020

Desperate for a clean break from the situation, you’re wondering: can you sell a house with a lis pendens for a decent price — ideally before the bank forecloses or you rack up a bunch of legal bills? This occurs when the lender, such as a bank or other financial institution, sues the homeowner who has defaulted on his or her mortgage.

Title 92

Title Banks Investor Title search 92

Marco Santarelli

JULY 23, 2022

Due to the crash, there may also be short sales and foreclosures, offering you the opportunity to acquire a deal. The graph below depicts the average 30-year fixed-rate mortgage based on Freddie Mac data obtained from FRED at the Federal Reserve Bank of St. Now homeowners have historic levels of equity in their homes.

Mortgages 52

Mortgages Marketing Lending Equity 52

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 75

Equity Investor Closing costs Property Management 75

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

HomeLight

OCTOBER 5, 2020

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. A home equity loan or line of credit. Therefore, your offer will need to take that into consideration if you’re bidding to win. They are going to say, ‘Okay, we’re willing to take.80

Due diligence 54

Due diligence Earnest money deposit Banks Inspection 54

HomeLight

SEPTEMBER 30, 2020

With a large down payment, the home already has equity, which means a lender is more likely to fully recoup their loan if something unforeseen happens and the buyer defaults.”. We had to do a short sale on our home and start from scratch.”. Source: (Eric Gilkes / Unsplash). Recession regroup.

Closing costs 83

Closing costs Loans Short sale Finance 83

Housing Wire

JANUARY 10, 2022

And if three hikes in the federal funds target come to pass, initial rates on ARMs, HELOCs and construction loans (often linked to the bank prime) will likely increase from one-half to three-quarters of a percentage point. for 30-year fixed-rate loans. 2022 should be a strong year for housing.

Marketing 545

Marketing FHA loan Fixed-rate mortgage Loans 545