HomeLight

AUGUST 31, 2021

Bank-Owned or REO: If a home doesn’t sell at auction, it becomes a real-estate owned home , meaning the bank or lender officially owns it. For example, a homeowner and lender agree to sell a house for $200,000 even though there is a balance of $250,000 on the mortgage loan. Bank-owned/REO sale.

Pre-approval 90

Pre-approval Short sale Banks Finance 90

Housing Wire

DECEMBER 2, 2020

However, the extension also applies to real estate owned (REO) evictions, which are properties that have been acquired by an enterprise through foreclosure or deed-in-lieu of foreclosure transactions. “This extension gives peace of mind to the more than 28 million homeowners with an Enterprise-backed mortgage,” said Calabria.

Mortgages 523

Mortgages Real-estate owned Finance Loans 523

Housing Wire

APRIL 4, 2022

The Federal Housing Administration (FHA) is moving to expand its COVID-19 loss mitigation “waterfall” by introducing a 40-year loan modification option and is asking the mortgage industry for input. Comments from the mortgage industry are due by May 31. However, the rate is still elevated compared to pre-pandemic times.

Loans 516

Loans FHA loan Mortgages Real-estate owned 516

Real Trends

JANUARY 25, 2023

In combination with the vacation rental industry , this niche includes standard single-family homes and multifamily apartments, as well as: Room rentals Full-service apartments Student housing 2. Agents might want to focus on wealthy buyers or investors in private property or commercial real estate with or without investment property loans.

Homeowner’s association 75

Homeowner’s association Finance Agents Short sale 75

Easy Agent Pro

DECEMBER 29, 2020

In February, pre-CARES Act, 10,438 FHA loans were in foreclosure. The notice is recorded at the county recorder’s office and off goes the loan to the foreclosure department. The homeowner has 90 days to bring the loan current. If it doesn’t sell, it becomes a REO (real estate owned), or bank-owned property.

FHA loan 83

FHA loan Agents Loans Sales 83

HomeLight

MARCH 10, 2023

It is best known for its world-class optics, imaging, and photonics industries , which often work in tandem with the researchers at the University of Rochester, the region’s largest employer. Since flippers don’t have a crystal ball to see the future, the industry has developed the 70% rule. But how do you account for the unexpected?

House Flipping 81

House Flipping Renovation Investor Finance 81

The Close

DECEMBER 29, 2022

These real estate definitions will help you ensure you’re communicating with clients effectively. Furthermore, in today’s market, understanding our complex mortgage industry could actually help you close more deals and maybe even save clients money. 4 Loan Questions Worth Asking. Acceleration clause. Active contingent.

Purchase and sale agreement 98

Purchase and sale agreement Title Proof of funds Pre-approval 98

RIS Media

AUGUST 30, 2020

. – Foreclosure-related activities (except as to vacant or abandoned properties) and evictions of occupants from real estate owned by Fannie Mae are suspended until Dec. Homeowners can find out if they have a Fannie Mae-owned mortgage by visiting www.KnowYourOptions.com/loanlookup.

Mortgages 53

Mortgages Real-estate owned Lending Loans 53

The Close

MARCH 15, 2022

This practice will put further strain on the already short-handed new home industry and prevent more new homes from being built for individual homeowners. Unlike the million-plus real estate licensees that left the business, I pivoted to working with distressed homeowners and became a Real Estate Owned (REO) agent.

Agents 97

Agents Investor Banks Land 97