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Archive for the 'Short Sale' Category

How bad is the residential mortgage picture?

By: Myles, February 24th, 2010

 In a word, the residential mortgage picture is: BAD.
As reported by MarketWatch, more than 11.3 million homeowners — nearly one-fourth of all Americans with a mortgage — owe more on their loan (or are “under water”), than their home is now worth, according to a report released February 23, 2010, by FirstAmerican CoreLogic.

More than 10% of […]

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Posted in Economy, Foreclosure, Debt, Housing, Short Sale, Foreclosures, Cresession, Home Equity, Bankers, Residential Real Estate, Delinquency Rates, Market Trending | No Comments »

Treasury’s “NEW” Short Sale Guidelines

By: Myles, December 10th, 2009

The U.S. Treasury Department announced new guidelines this week designed to make short sales go more smoothly.
To qualify under these new guidelines:
1. The property must be the home owner’s principal residence.
2. The home owner must be delinquent on the mortgage or close to defaulting.
3. The loan must have been made before Jan. 1, 2009, and […]

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Posted in Treasury, Short Sale | No Comments »