What is the hottest topic in the Phoenix Real Estate market right now??? SHORT SALES! Should you do it? How will you and your credit recover? When can you purchase again? With this ever changing and conforming market, no one has all the answers… but here is a little glimmer of hope that some of you may [...] Read more
Tag Archives: Short Sales
Consumer Financial Protection Bureau in place
The Miami Herald had an article in late December by Elizabeth Warren (attorney, Leo Gottlieb Professor of Law at Harvard Law School and Assistant to the President and Special Advisor to the Secretary of the Treasury on the Consumer Financial Protection Bureau) that was interesting to me as a homeowner and real estate agent. It [...] Read more
Loan Modification and Credit Scores
In my experience, homeowners will initially try for a loan modification before they begin thinking about a Short Sale. Understandable-we didn’t buy our houses to feel forced to sell, so if we can renegotiate our loan, then it makes sense to do it. There are a few things we should know before taking the plunge [...] Read more
Market Trends
It’s that time again-how did the numbers look in September and what kind of trends are we seeing continue or change? That’s a loaded question right now, with new information from banks on how they’re handling foreclosures and what that will mean for the market over the next several months. But let’s look at September [...] Read more
Banks Freezing Foreclosures
Bank of America announced it is freezing foreclosures in 23 states (but didn’t specify whether AZ was one of them…it’s a safe assumption that AZ is on that list). This comes after the Associated Press reported that BofA mortgage and foreclosure officials had proceeded with some actions without reading forms and documents provided by distressed [...] Read more
Pitfalls, Perks, Ins and Outs of Short Sales
It is common here…and becoming more common in other states. What? Short sales. So first, let me start by stating the common definition of a “short sale”. The situation is this. Someone (we will call them the “owner”) purchased a home and financed it through a bank (we will call them the “lender”). Or, another [...] Read more
