Deeds and Leases

It look like the $8k “cash for coops” (my version of cash for clunkers) will be extended until April 30 2010 when congress takes a final vote at the end of the week. While details are not finalized, it appears that the income limit will double, and there will be a new provision allowing long [...]

It is so unfortunate that the following video has the appearance of a funny video, but is actually on the money. Buying REO’s can be a very tough endeavour, and most non-investor buyers (like YOU) will probably be shocked at the experience.
So get out the popcorn and enjoy. Thanks to http://www.sandiegohomeblog.com/

The New York Times is reporting on a proposal by the FDIC that would ask banks to provide up to six months of loan repayment forbearance in certain circumstances (job loss etc.), if the homeowner had reasonable prospects for future employment.
This sounds like a good idea, and since almost everyone knows of someone who has [...]

To view a video about the rise in home sales, please click HERE.
Washington, August 04, 2009
Pending home sales are up for the fifth consecutive month, the first time in six years for such a streak, according to the National Association of Realtors®.
The Pending Home Sales Index,1 a forward-looking indicator based on contracts signed in June, [...]

 
 
1.     Work only with a nonprofit, HUD-approved counselor.
If you are looking for help to prevent foreclosure, be sure the counseling agency is on the Department of Housing and Urban Development’s list of approved agencies. Visit HUD’s website for an easily searchable list of HUD-approved housing counseling agencies, or call 877-HUD-1515 (877-483-1515) for more information. If [...]

This surprised me..
Short sales have become extremely popular because they afford a way for a homeowner who is “upside down” in their mortgage (ie owe more than the property is worth) to be able to sell their property at current market and get out of their difficult financial situation with far less hit to their [...]

This hit the news today and I have to admit I was a bit surprised. While everyone is thinking of creative ways of helping people in distress in the current soft market, converting homeownership to a rental scenario is an interesting twist.
I am not so sure I like it.
The concept at this point as I understand [...]

It always pains me to bring up foreclosures, short sales etc. It is a reminder of the difficult economy we are in. But obviously you cannot put your head in the sand. Although foreclosure rates in Westchester County are quite low compared to the rest of the country, there are still many people hurting.
Like the [...]

CLICK: [Vortex] Straight from MacCrate: When Will Real Estate Prices Stabilize in the New York Metropolitan Area?
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Jim McCrate, MAI CRE is one of the foremost commercial real estate appraisers in NY, and is a Counselor of Real Estate, the premier designation in the industry. While I worked worked with many of the top MAI’s [...]

Would-be Home Buyers Find Themselves in Ownership Limbo

By Leslie Berkman
RISMEDIA, Nov. 18, 2008-(MCT)-When Ryan Zimmermann last month arrived for a walk-through of the four-bedroom Corona house he had just bought at a bank auction, he got a big surprise. Someone else had moved in.
Unable to close escrow on his $483,000 purchase, Zimmermann is living in [...]