Housing Wire

JULY 1, 2022

Banks reported an increase in foreclosures during the first quarter of 2022, according to a quarterly survey published by the Office of the Comptroller of Currency this week. Home forfeiture actions, including completed foreclosure sales, short sales, and deed in-lieu-of- foreclosure actions also grew by 26.8%

Banks

Housing Wire

MAY 13, 2021

As you probably know by now, the Federal Housing and Finance Agency has limited GSEs to a 7% cap on loan purchases for second home and investment properties. This means that lenders who sell these types of loans to Fannie Mae and Freddie Mac will be subject to restrictions if their volume exceeds 7%. How does this impact originators?

Loans

HomeLight

SEPTEMBER 30, 2020

But what if you’re buying a short sale? Does that mean you might encounter even more reasons to cry while trying to get a short sale mortgage loan ? Securing a short sale mortgage loan isn’t that different from purchasing a standard home. What’s a short sale ?

Short sale

Housing Wire

NOVEMBER 15, 2022

There will always be a population of borrowers who cannot qualify for a home loan under traditional guidelines. Originators who actively work within the non-QM space are closing additional loans every month. The solution: Bank Statement loans. . Angel Oak’s Bank Statement loan is ideal for the self-employed.

Bankruptcy

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. for 30-year fixed-rate loans. Home sales rise to a 16-year high.

Marketing

Housing Wire

JUNE 8, 2022

Solutions like active listing scan will help customers “close more loans more quickly,” he added. . In May, the inventory of homes for sale rose 8%, marking the first inventory rebound since June 2019. Xactus, with its mortgage verification suite, aims to close more loans quickly and enhance profitability.

Short sale

Housing Wire

JUNE 22, 2021

Fannie Mae and Freddie Mac loans once again made up the smallest share at 2.05% ? while Ginnie Mae loans in forbearance fell 7 basis points to 5.15%. The percentage of loans in forbearance for depository servicers also dropped 3 basis points to 4.16%. resulted in a loan deferral/partial claim. Another 24.1%

Short sale

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

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

Realty Biz

AUGUST 29, 2022

Many more homes have been sold since then and some have even gone through short sales. But what is a short sale exactly, and how is it any different than a regular sale, bankruptcy, or foreclosure? How does a short sale affect you as a homeowner? What You Need to Know About Short Sales.

Short sale

HomeLight

SEPTEMBER 30, 2020

If a homeowner falls behind on their mortgage payments, a short sale is one potential way of correcting course. That being said, the home purchase process is a lot more complicated and drawn out with a short sale because it all hinges on the oversight and approval of a third party: the mortgage lender. Short sales 101.

Short sale

Keeping Current Matters

OCTOBER 21, 2020

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. A decade ago, there wasn’t a forbearance option, and most banks did not put in other programs, like modifications and short sales, until very late in the crisis.

Equity

HomeLight

AUGUST 16, 2021

Between searching for, viewing, negotiating , inspecting, and possibly renegotiating on a home, the road to the closing table is rarely a short one. And if the house you’ve landed on is listed as a short sale, you could be in for a long ride. What exactly is a short sale? Source: (Freedomz / ShutterStock).

Short sale

Housing Wire

APRIL 25, 2023

This, together with several noteworthy bank failures, dwindling personal savings accounts and increasing debt utilization, has impacted homebuyer demand, which continues to run below both the 15-year highs of 2021 and the pre-pandemic numbers from 2018 and 2019. Although rates have ebbed from over 7% earlier this year to below 6.5%

Short sale

HomeLight

AUGUST 31, 2020

You may have heard that short sales, foreclosures, or bank-owned properties offer great opportunities for a steal , but what do these different terms mean, and how does the homebuying transaction work for each? What’s the difference between buying a short sale vs. a foreclosure, and where can the best deals be had?

Short sale

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

Housing Wire

AUGUST 31, 2020

The system also offers loss mitigation, modifications, short sales and repayment tracking functionality. Extraordinary value: Mortgage Servicer is a full servicing system, from loan boarding to payoff and secondary marketing. They won’t lose valuable production time waiting for someone to return calls or answer emails.

Mortgages

HomeLight

OCTOBER 11, 2021

You see a house you love, but the listing shows that it is an “active pending short sale.”. And just what is a short sale, anyway? Is a short sale home purchase for you? And can you still make an offer on an active pending short sale? Short sales defined . Wait, what?

Short sale

HomeLight

OCTOBER 5, 2020

But what if it’s a different kind of sale … for example, how much should you offer on a short sale? Enter the short sale : a solution for the seller, and a special opportunity for a buyer. What’s a short sale? Short sales are unique because they require the approval of the seller’s lender.

Short sale

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.

Bankruptcy

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

Housing Wire

AUGUST 30, 2022

I understand why anti-Central Bank people say this because they want to blame everything on the Federal Reserve and say it’s just been booming demand. However, we haven’t had a credit sales boom like the one we saw from 2002-2005. However, not to the degree we saw from 2005-2008.

Bankruptcy

RIS Media

APRIL 21, 2022

The total number of loans currently in forbearance decreased by 13 basis points in the past month from 1.18% of servicers’ portfolio volume to 1.05%, according to the Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey. million loans), according to the MBA. million loans), according to the MBA.

Loans

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

Realty Biz

JANUARY 1, 2021

A property goes into pre-foreclosure when a mortgage company notifies the borrower that they are in default on their loan. Short Sales . A short sale occurs when a homeowner puts the house up for sale at a smaller price than is owed on the mortgage. In some cases a bank could take months to accept an offer.

Short sale

RIS Media

FEBRUARY 25, 2022

The number of loans now in forbearance decreased by 11 basis points from 1.41% of servicers’ portfolio volume in the prior month to 1.30% as of January 31, 2022, according to the Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey released this week. The share of other loans (e.g., By stage, 26.8%

Loans

HomeLight

SEPTEMBER 1, 2020

A “real estate owned,” or REO, home is one that’s owned by a bank. The owner either forfeited it to the bank, or the house went to foreclosure auction and the house didn’t sell. Whatever the case, now the house belongs to the bank. Buying a bank-owned home isn’t the same as buying a house from a private homeowner.

Banks

RIS Media

MARCH 23, 2022

The total number of loans now in forbearance decreased by 12 basis points, from 1.3% 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. The share of other loans (e.g., resulted in a loan deferral/partial claim.

Loans

Dwell Real Estate

AUGUST 20, 2021

In Sarasota’s real estate market today short sales are nearly unavoidable. I talk with buyers every day and many of them have questions about how short sales work, how they are different than regular sales, etc. Misconception: A cash offer will make a short sale move faster than an offer with financing.

Short sale

HomeLight

AUGUST 31, 2020

Some potential homebuyers pass over foreclosures or buying a bank-owned home entirely because they are daunted by the special considerations that go into this kind of sale. The reality is, there are a variety of substantial pros and cons that any would-be buyer should weigh seriously before purchasing a bank-owned property.

Banks

CT Homes

APRIL 18, 2024

If you find yourself in a tough financial spot, it’s crucial to understand your options, particularly when it comes to a short sale vs foreclosure. This can make it difficult to purchase a new home, obtain loans, or even secure housing rentals. What is a Short Sale?

Short sale

Calculated Risk Real Estate

SEPTEMBER 8, 2023

However, in mid-2022, homeowners switched to using home equity loans (2nd loans) to extract equity from their homes. ” However, in the January 2023 and April 2023 and July 2023 surveys, the Fed noted that “banks reported tighter standards and weaker demand for home equity lines of credit (HELOCs).”

Closing

The Residential Specialist

DECEMBER 21, 2022

Experts who worked through The Great Recession of 2008 share how to handle tricky short-sale transactions. With its perfect storm of record-low property values and record-high unemployment, The Great Recession of 2008 triggered a rash of residential short sales. Short sales are not suited to all REALTORS ®.

Short sale

The Close

FEBRUARY 19, 2025

Whether youre a new or experienced real estate investor, you may have asked, What is a real estate short sale? The simple answer is that a short sale is when a homeowner owes more for their home than its current market value and puts it up for sale. What Happens in a Real Estate Short Sale?

Short sale

CT Homes

FEBRUARY 3, 2022

A defining term that emerged shortly after the collapse was the “short sale”. In the years following, short sales were the driving force behind a majority of all total real estate transactions. But what is the short sale process and how does it work? . What is a Short Sale?

Short sale

Realty Biz

FEBRUARY 12, 2023

Public records indicate when a bank has served notice that a property is in default, but before it goes to auction,” Christina says. “If These are often called short sales, and they’re just that - when a lender accepts a shortfall in the amount that is owed on the home.

Short sale

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. To put it simply, they were risky mortgages given to people who probably weren’t going to be able to afford the loans they were taking on.

Mortgages