Deeds and Leases

http://www.marketwatch.com/story/foreclosure-ruling-may-be-good-news-for-homeowners-2011-01-11

The New York Times Business Day Two States Sue Bank of America Over Mortgages By ANDREW MARTIN and MICHAEL POWELL Published: December 17, 2010 The two states contend the bank misled customers about their eligibility for modifications on their home mortgages.

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 [...]

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 [...]

        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 [...]

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 [...]

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 [...]

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 [...]