According to recent reports, banks and mortgage servicers are being more careful by dotting their i’s and crossing their t’s. The foreclosure process can take up to 2 years now to foreclose on defaulting homeowners. So those of you that think the foreclosures are going to slow down and the market is going to bounce [...]
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From my experience, the buyers I have dealt with along with listening to homeowners show that buying a foreclosure is still something that everyone needs to be educated on. I have heard it all. Buyers want to buy a foreclosure because they think they can get an incredible deal, but still want the home in [...]
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Not only are Fannie Mae and Freddie Mac losing money on these foreclosed homes, but it is costing them an arm and a leg to maintain them. A few months go by before a Realtor® is hired to go inspect the property. During that idle time, the property needs to stay somewhat decent. Fannie Mae [...]
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As I was at a local Starbucks the other day, I couldn’t help but eavesdrop on a conversation between two people. They were talking about buying a home and one of their neighbors was recently foreclosed on. A large gap had formed in line while I stood there carelessly and listened intently. As the conversation [...]
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Freddie Mac and Fannie Mae have adjusted their guidelines for borrowers who have a Short Sale, Foreclosure, or Deed-in-Lieu of Foreclosure.
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