Blog
FHFA Monthly House Price Index
From the Federal Housing Finance Agency website: WASHINGTON, DC – U.S. home prices fell 0.3 percent on a seasonally-adjusted basisfrom July to August, according to the Federal Housing Finance Agency’s monthly HousePrice Index. The previously reported 0.3 percent increase in July was unrevised. For the 12 months ending in August, U.S. prices fell 3.6 percent.... Read More
Ideal market for new investors
In the current market, investment properties are a better option than ever. Courtesy of Reuters News Service: U.S. property investors these days are smaller and say they are more willing to wait it out — a stark contrast from the fervent flipping and reckless borrowing that characterized housing investment a few years ago. Wall Street... Read More
Loss Mitigation Direct Contacts
I’ve compiled a list of loss mitigation phone numbers. You can get bounced around quite a bit when calling in dealing with short sales. Use this list of direct contacts to save you time and effort! Lender/Servicer Loss Mitigation Phone Numbers & Contact Information ABM AMRO Mortgage (800) 783-8900Web: https://www.mortgage.com/C3/application.bus Accredited Home Lenders(877) 683-4466 AMC... Read More
Short Sale 101
What is a short sale? It’s likely you’ve heard the term “short sale” thrown around quite a bit. But what, exactly, is a short sale? A short sale is when a bank agrees to accept less than the total amount owed on a mortgage to avoid having to foreclose on the property. This is not... Read More
Team Bio: Marshall Moore
Marshall Moore is an Eastern shore native and has been a real estate investor in this community for over 30 years. Marshall and his father have built over 500 homes all over the Eastern Shore and Marshall has always been motivated to help improve his local community. He has extensive education and experience in short... Read More
HUD Short Sale Guidelines
Here’s some information everyone should know about HUD-backed mortgages for short sales: HUD requires a 6% commission on all short sales which is clearly defined on their website. They also spell out their guidelines for offers to pay off junior lien holders, which I think most people are unaware of. Freddie just changed their guidelines... Read More
New Rules Give Buyers More Protection at Closing
All real estate agents should be aware of a set of new Federal consumer protection rules which went into effect July 30th. Keeping clients up-to-date with the latest, best information is key to closing successful transactions, and keeping happy clients. Kenneth R. Harney wrote a really thorough article which lays out all of the rules.... Read More
HUD Information
The HUD website is an invaluable source of information. For example, HUD requires a 6% commission on all short sales. Their website also spells out the guidelines for money to pay off junior lien holders; something I think most people are unaware of. Freddie just changed their guidelines in the last thirty days, and I... Read More
Short Sales!!!
Agents, investors, consumers – there are answers to the problems you may be facing with short sale – you just need the right ones. There is alot of misleading information out there on the internet about short sales, but I’m here to tell you in any short sale you can have a positive outcome. I... Read More
Salisbury foreclosure rates rise
The Daily Times reports that foreclosure rates in Salisbury are up over this time last year: Foreclosure rates in Salisbury have increased for the month of June over the same period last year, according to First American CoreLogic, a collector of real estate and mortgage data. First American Core-Logic reports that the rate of Salisbury-area... Read More