Category Archives: Foreclosure/Short Sales
Guidelines for loan qualification after a Short sale or Foreclosure
A while back I wrote a post, “How Long Do Potential Buyers Need to Wait to Obtain Financing after a Hardship?”. I received an e-mail today that outlines general guidelines that FHA, Fannie Mae, and Freddie Mac follow when considering … Continue reading
Fannie Mae Buyer Incentives…they’re back!
If you are considering purchasing a Fannie Mae bank owned home and intend to use the home as your primary residence, there is good news for you, buyer incentives are being offered again! Here is an outline of the qualifications … Continue reading
Treasury Releases Updated Guidelines for HAFA Program
Once again the government has figured out the the Home Affordable Foreclosure Alternatives (HAFA) program is not working. As a result, they have updated their guidelines in regards to short sales. The highlights are as follows: HAFA no longer requires that servicers … Continue reading
Posted in Foreclosure/Short Sales, Legislation, Market Conditions
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How many short sale listings are there in the Phoenix Metro area?
In the past 6 months I have written 9 offers to purchase for buyers on short sale properties. 3 of the offers were withdrawn by the buyer while they were in the waiting stage, prior to the seller’s bank responding and … Continue reading
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Oh the Joys of the Short Sale offer…Part 2
Today’s post is the follow-up, as promised, to my previous post on 12/16/10, Oh the Joys of the Short Sale Offer. For those of you that do not want to link back to that post, I will summarize the details then … Continue reading
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Oh the joys of the Short Sale offer!
Warning…short sale offer rant to follow…I have a buyer that made a cash offer of $23,500 in mid November on a condo in Glendale that is a short sale. The buyer made the offer slightly lower than she was willing to pay with … Continue reading
Posted in Foreclosure/Short Sales
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How hard is it to get a loan?
A little background first…I am working with a nice young couple that recently moved from California to Arizona. They had come to Arizona initially in February to look for homes and to pinpoint an area they were interested in living in. At that time … Continue reading
Posted in Buyers, Foreclosure/Short Sales, Mortgage/Financing
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Poll: Is it immortal or unethical for homeowners to walk away from their mortgage?
Every week I receive an e-mail from the Phoenix Business Journal highlighting stories about the residential real estate market in Phoenix. Today I received a link to an article with a poll asking for comments as to whether people think … Continue reading
Seller’s RIDICULOUS Counter Offer on a Bank Owned Home (REO)
I have a CASH buyer that made a FULL PRICE offer on a bank owned home in Queen Creek with $1000 earnest deposit, no contingencies, (he did not ask for seller assistance with closing costs) and wants to close in … Continue reading
Posted in Buyers, Foreclosure/Short Sales, Market Conditions
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Foreclosures & Mosquitos
If you live in Maricopa County, chances are you have a foreclosed or abandoned home in your neighborhood. If the home has a pool, it should be treated for mosquitos. The Maricopa County Vector Control for Environmental Serviceshas a FREE program where … Continue reading
Posted in Foreclosure/Short Sales, Household Tips
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