Housing Wire

JULY 1, 2021

they may not be able to modify the loan, sell quickly or whatever else and thus end up foreclosed upon). This will be especially true for lower-income households with FHA loans that started with very little equity to begin with due to the low-down payment requirement. Second, ensure they are partnered with great vendors (i.e.,

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Short sale FHA loan Equity Sales 232

Keeping Current Matters

MARCH 10, 2021

Last March, many involved in the residential housing industry feared the market would be crushed under the pressure of a once-in-a-lifetime pandemic. Home sales and prices were both up substantially over the year before. People are equity rich, not tapped out. Instead, real estate had one of its best years ever. Bottom Line.

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RIS Media

SEPTEMBER 21, 2020

The homebuying process is already complex, so understanding certain words and terms in the real estate industry will help you get ahead of the game for when you’re ready to start buying. Loan estimate : A three-page document sent to an applicant, often three days after they apply for a home loan. The fee, usually 0.3 – 1.5

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Pre-approval Pre-qualification Title search Inspection 90

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. The “anyone can get one” loans of the past are illegal; now borrowers undergo stricter income, credit and asset checks. 3: Most Homeowner’s Cushion—Equity. in December 2019.

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Marketing Equity Lending Short sale 131

HomeLight

AUGUST 31, 2021

However, as those forbearances end toward the later part of 2021, foreclosures will likely become more readily available and may even hit the market in droves, says Florida real estate agent Christina Griffin , who has 20 years of experience in the industry. Let’s take a look at the most common foreclosure sales and how they work.

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Pre-approval Short sale Banks Finance 95

HomeLight

JUNE 30, 2021

Government-issued economic bailouts are designed to save an industry, or its major player(s), from total collapse. 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.

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Equity Loans Lending Industrial 64

RIS Media

SEPTEMBER 8, 2020

CoreLogic® released its monthly Loan Performance Insights Report for June 2020. To gain an accurate view of the mortgage market and loan performance health, CoreLogic examines all stages of delinquency , including the share that transition from current to 30 days past due. On a national level, 7.1 This represents a 3.1-percentage

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Staging Short sale Loans Mortgages 105

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. Mortgage approval rates today are lower than they were in the pre-crisis era, which suggests that borrowers are less likely to default on their loans. Many homebuyers may feel that obtaining a mortgage is too risky.

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Mortgages Marketing Lending Equity 52

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? Helali advises consulting your loan servicer, as requirements vary amongst lenders. The process. The timeline.

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Short sale Sales Loans Banks 78

Housing Wire

APRIL 8, 2022

The legit high-level risk homeowners are 2018/2019 and 2020 FHA homebuyers because they lack selling equity, and they would make up that smaller portion of sub -60 FICO score home loans bought in this cycle. Late cycle lending is always a risk in the lending industry. April 2022 : There was no forbearance crash.

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Marketing Lending Short sale Equity 397

HomeLight

APRIL 29, 2021

The 13-year industry veteran has a track record for selling homes fast — her listings close 65% quicker than the average Philadelphia agent. Strong local economy : Prosperity from an uptick in jobs and industry growth in a local economy can lead to a surge in buyer demand. How quickly your home will sell. Source: (yi sk / Unsplash).

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Marketing Sales Agents Construction 110

HomeLight

OCTOBER 1, 2020

After a low appraisal on your dream home , you may assume that this is the end of the road because it may mean the termination of your mortgage loan if you can’t work out a deal. In 2020 especially, the economy is volatile, and the future remains uncertain for various markets and industries across the board, real estate included.

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Purchase and sale agreement Short sale Rent back Sales 82

HomeLight

JANUARY 4, 2022

Going with a cash offer primarily because it’s easy and low-hassle isn’t unheard of anymore, and in some markets, certain types of cash buyers are getting closer to offering market value than normal , industry data from zavvie shows. Buyers who re-invested their equity. Out-of-state buyers.

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Investor Finance Inspection Sales 98

HomeLight

NOVEMBER 30, 2022

Home improvement shows have popularized the concept of “flipping” houses, bringing this segment of the real estate industry into the living rooms of everyday Americans, even inspiring some to take on the challenge of buying a home needing TLC, updating the home with old-fashioned sweat equity, and selling for a nice profit.

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House Flipping Inspection Investor Renovation 98

HomeLight

JANUARY 19, 2023

Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for a profit. Since flippers don’t have a crystal ball to see the future, the industry has developed the 70% rule. Find a Buyer's Agent What is house flipping?

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House Flipping Inspection Renovation Finance 93

HomeLight

FEBRUARY 9, 2023

Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for a profit. Since flippers don’t have a crystal ball to see the future, the industry has developed the 70% rule. Find a Buyer's Agent What is house flipping?

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House Flipping Hard money loan Finance Investor 81

HomeLight

MARCH 10, 2023

Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for a profit. According to Wise, putting in a little sweat equity on the interior work can improve your profit margin. “If Find a Buyer's Agent What is house flipping?

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House Flipping Renovation Investor Finance 84

Realty Biz

SEPTEMBER 23, 2021

Miami Homeowners’ Home Equity Continues Surging as Many Pay Lower Mortgage Payments. With interest rates still at record lows, many South Florida homeowners have refinanced their home loans. Home equity can be tapped for renovations, college loans and more. In 2009, distressed sales comprised 70% of Miami sales.

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Sales Fixed-rate mortgage Short sale Equity 104

HomeLight

FEBRUARY 24, 2023

Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for a profit. And the city has plenty of tourism and varied industries to keep the economy fueled. Find a Buyer's Agent What is house flipping? as of December 2022.

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House Flipping Renovation Investor Finance 89

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. Make sure clients who see an acceleration clause in their mortgage contracts understand that this allows their lender to demand repayment of the loan in full if they default on the loan.

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

HomeLight

FEBRUARY 24, 2023

Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for a profit. The industry average is — at the end of the day after you’ve done everything — if you walk away with 10%, it was a good day. Everybody got paid. You were profitable.

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House Flipping Renovation Investor Finance 75

Housing Wire

SEPTEMBER 9, 2020

The share of loans with payments 90 days to 119 days late quadrupled between May and June, rising to 2.3%, the highest level in more than 21 years, said Frank Nothaft, CoreLogic’s chief economist. While they have permission to miss their payments, the mortgage industry still counts the loans as delinquent.

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Short sale Loans Mortgages Staging 544

HomeLight

JULY 31, 2021

Here’s a little background on what cash buyers tend to prioritize and look for when they make an offer, according to experts in the real estate and investing industry we spoke with directly. Value-add is the process of remodeling a home or complex to increase the value and add equity,” Shipwash explains. “In Motivated sellers.

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Earnest money deposit Inspection Proof of funds Inspection contingency 98