Housing Wire

FEBRUARY 22, 2024

Tiffany Fletcher, senior vice president of operations support and operational risk for VRM Mortgage Services , offers strategies for doing just that, showing how VRM is growing and changing during these unique times. Tiffany Fletcher, VRM Mortgage Services HW: What does the current market and demand for REO assets look like?

Due diligence 364

Due diligence Marketing Mortgages New Construction 364

HomeLight

SEPTEMBER 30, 2020

John Durham is a successful real estate agent in Henry County, Georgia, and has purchased homes at auction for 16 out of 20 years of his career as a real estate agent. The purpose of the foreclosure auction is to recoup money for missed mortgage payments or tax liens. Where can you find foreclosure auctions? “The

Due diligence 98

Due diligence Hard money loan Finance Banks 98

HomeLight

JUNE 28, 2021

HUD’s Office of Housing also includes the Federal Housing Administration (FHA), an agency that insures mortgage loans issued by FHA-approved lenders to protect against losses if a borrower defaults on a loan. The buyer must work with a HUD-approved real estate agent/broker for all bidding (HUD homes are sold at auction).

Pre-approval 94

Pre-approval Pre-qualification FHA loan Inspection 94

HomeLight

SEPTEMBER 1, 2020

When a homeowner stops making mortgage payments , eventually the bank will foreclose on their house, and the property will become bank-owned. The steps in between the first missed mortgage payment and a bank-owned foreclosure follow a pattern like this: The homeowner fails to make at least three consecutive months of mortgage payments.

Banks 78

Banks Inspection contingency Inspection FHA loan 78

HomeLight

SEPTEMBER 30, 2021

Preforeclosure: The lender sends a notice of default to inform the owner that they must get up to date on their mortgage payments within a certain timeframe — or they will face foreclosure. REO owned: If the home doesn’t sell at auction, it becomes real-estate owned, meaning the bank or lender owns it.

Banks 104

Banks Inspection Equity Investor 104

HomeLight

MARCH 10, 2023

If you need to finance the home with a mortgage, there are a few options you should consider: Hard money loans: These are loans from private lenders for short periods of time — they can come with higher interest rates and can be risky for inexperienced investors. Even if something went wrong, you likely wouldn’t end up losing money.

House Flipping 88

House Flipping Renovation Investor Finance 88

The Close

DECEMBER 29, 2022

Furthermore, in today’s market, understanding our complex mortgage industry could actually help you close more deals and maybe even save clients money. So we’ve included a handy download with questions your clients should ask their mortgage broker. Adjustable-rate mortgage (ARM). Acceleration clause. Active contingent.

Purchase and sale agreement 97

Purchase and sale agreement Title Proof of funds Pre-approval 97