Housing Wire

MAY 9, 2022

A lot of mortgage debt went away due to foreclosures and short sales, bringing home prices way down. One of the reasons homeowners can’t sell their homes at a 50%-80% discount so freely is because the bank won’t allow them to if the home value goes below the house’s debt. Currently, the balance sheet of the U.S.

Short sale 532

Short sale Mortgages Equity Sales 532

Keeping Current Matters

OCTOBER 21, 2020

During the housing crash twelve years ago, many homeowners owned a house that was worth less than the mortgage they had on that home (called negative equity or being underwater ). Many decided they would just stop making their payments and walk away from the house, which then resulted in the bank foreclosing on the property.

Equity 297

Equity Banks Closing costs Loans 297

Housing Wire

OCTOBER 31, 2022

This is why I am very mindful of recent 100% loans that some banks are offering. After the housing bubble crashed, a lot of household debt got deleveraged through foreclosures, short sales and bankruptcies. Also, homeowners have been living in their homes longer and longer, so their nested equity position has improved over time.

Bankruptcy 523

Bankruptcy Lending Equity Mortgages 523

HomeLight

OCTOBER 5, 2020

As fate would have it, right when you’re ready to start seriously searching for a home to buy, your dream house is listed for sale as a short sale. If you don’t know about short sale requirements for buyers, you might feel like you’re out of luck. What’s a short sale?

Short sale 97

Short sale Sales Pre-approval Pre-qualification 97

HomeLight

SEPTEMBER 20, 2022

Short sales can provide an excellent opportunity for potential homebuyers to score a good deal. If you’re in the market to buy a short sale home, you’ll need to prepare for a lengthy closing process and steel yourself to jump through some hoops not generally associated with traditional sales. What is a short sale?

Short sale 98

Short sale Sales Pre-approval Banks 98

HomeLight

SEPTEMBER 30, 2020

If a homeowner falls behind on their mortgage payments, a short sale is one potential way of correcting course. That being said, the home purchase process is a lot more complicated and drawn out with a short sale because it all hinges on the oversight and approval of a third party: the mortgage lender. Short sales 101.

Short sale 98

Short sale Closing costs Closing Sales 98

HomeLight

JULY 31, 2020

You don’t see as many short sales in 2020 as in 2010; despite their name, they’re neither short nor simple endeavors. If a homeowner is behind on their mortgage payments, owes more money than the property’s current value, and is in danger of foreclosure, a lender may agree to terms of a short sale.

Short sale 105

Short sale As-is Purchase and sale agreement Sales 105

HomeLight

OCTOBER 11, 2021

You see a house you love, but the listing shows that it is an “active pending short sale.”. And just what is a short sale, anyway? Is a short sale home purchase for you? And can you still make an offer on an active pending short sale? Short sales defined . Wait, what?

Short sale 101

Short sale Sales Banks Backup offer 101

HomeLight

MARCH 30, 2021

You may have heard a little bit about short sales — enough to know that this type of real estate listing can present some opportunities to get a good deal. But while short sales offer potential opportunities , they come with plenty of potential pitfalls as well. Know if a short sale is the best option for you.

Short sale 80

Short sale Sales Pre-approval Closing costs 80

Calculated Risk Real Estate

SEPTEMBER 8, 2023

During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined.

Closing 130

Closing Equity Short sale Principal 130

HomeLight

SEPTEMBER 1, 2020

If that’s you, you may have heard that one path to a deal is buying a bank-owned foreclosure. There are pros and cons to consider when going this route, however, such as the fact that bank-owned properties often need more TLC than other homes on the market, and many are sold as-is. What’s a bank-owned foreclosure?

Banks 98

Banks Inspection contingency Inspection FHA loan 98

Calculated Risk Real Estate

JUNE 8, 2023

During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined.

Closing 95

Closing Equity Short sale Principal 95

RIS Media

MARCH 25, 2021

When the housing bubble burst, roughly nine million families lost their homes to foreclosure or short sale between 2006 and 2014. Loose mortgage lending practices ultimately brought down some of the nation’s largest banks and mortgage companies. 3: Most Homeowner’s Cushion—Equity. Factor No. in December 2019.

Marketing 131

Marketing Equity Lending Short sale 131

Lighter Side of Real Estate

APRIL 6, 2022

A difference is, back in 2007 and the years leading up to it, banks had been lax in their lending standards, and much of the market was affected by what is known as “subprime” mortgages. Which means your payment will adjust, and you should bank on it adjusting up when it does, not down. Find out when your rate can be adjusted.

Mortgages 145

Mortgages Fixed-rate mortgage Banks Lending 145

Redfin

MARCH 4, 2025

Whether youre looking at homes for sale in San Antonio, TX , or in Wilmington DE , there are options for you. Key takeaways A foreclosed home means the buyer can no longer make payments and the bank has taken the house. Foreclosure is the process of a bank or lender reclaiming a property from a buyer who can no longer make payments.

Pre-approval 35

Pre-approval FHA loan Short sale Banks 35

Calculated Risk Real Estate

DECEMBER 7, 2023

During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined.

Closing 78

Closing Equity Short sale Principal 78

HomeLight

SEPTEMBER 30, 2021

A foreclosed property is a property that has gone through the legal process of foreclosure where the bank seeks to regain ownership of the property to make good on a debt,” explains top Seattle real estate agent Ken Crotts , who works with over 66% more single family homes than the average area agent. “A But let’s back up a minute.

Banks 122

Banks Inspection Equity Investor 122

Calculated Risk Real Estate

MARCH 7, 2024

During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined. Mortgage debt is up $2.36

Closing 75

Closing Equity Short sale Principal 75

Realty Biz

AUGUST 6, 2021

As the market again plows bullishly upward into unaffordable home prices, the most likely cushion from a full market meltdown this time will be stricter bank loan regulations and homeowner equity. The housing bubble bust of 2008 resulted in almost 10 million Americans losing their homes to foreclosures and short sales.

Short sale 102

Short sale Loans Equity Mortgages 102

Realty Biz

JULY 19, 2022

Many of these will be new investors that don’t have experience with the pre-foreclosures, short sales, and foreclosures, that occurred during the Great Recession. If the house doesn’t sell on the court steps, the lender (bank) takes possession. The REO sales process is much the same as any traditional sales process.

Purchase and sale agreement 101

Purchase and sale agreement Short sale Loans Inspection 101

Calculated Risk Real Estate

SEPTEMBER 12, 2024

During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined. trillion in the second quarter of 2024.

Closing 69

Closing Equity Short sale Banks 69

Calculated Risk Real Estate

JUNE 7, 2024

During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined. year over year. year over year.

Closing 64

Closing Equity Short sale Banks 64

HomeLight

AUGUST 16, 2021

What is an REO sale? These are properties that have been foreclosed , and the ownership has fully transferred to the bank or lender. There are online tips and tools available to help you find bank-owned homes. Source: (Andre W. Nguyen / Unsplash). Go to your county’s office and ask for the pre-foreclosure list ,” he says.

Banks 105

Banks Pre-qualification Investor Short sale 105

RIS Media

SEPTEMBER 21, 2020

Approved for short sale : A term that indicates that a bank has approved a homeowner for a reduced listing price on a home, and said home is ready for resale. percent of the yearly loan amount, can be canceled in certain circumstances when the borrower reaches 20 percent equity. The fee, usually 0.3 – 1.5

Pre-approval 84

Pre-approval Pre-qualification Title search Inspection 84

HomeLight

JUNE 16, 2023

But the reality of buying a house at auction typically means you’ll need lots of money in the bank (like, enough to purchase the thing outright), and that can be enough to bring your foreclosure auction dreams crashing back down to earth. When housing prices are especially strong, homeowners typically have lots of equity in their homes.

Hard money loan 98

Hard money loan Equity Finance Loans 98

RIS Media

JANUARY 29, 2021

A lender may instead base its decision on information contained in bank statements. After a bankruptcy, foreclosure or short sale, a prospective homebuyer may have to wait a period of time before taking out a new prime mortgage. A high loan-to-value ratio means that an Alt-A borrower will have little or no equity.

Debt-to-income ratio 98

Debt-to-income ratio Mortgages Bankruptcy Loans 98

RIS Media

MARCH 23, 2022

Independent Mortgage Banks (IMBs): 1.44% (previous month: 1.59%). resulted in repayment plans, short sales, deed-in-lieus or other reasons. The share of other loans (e.g., portfolio and PLS loans) in forbearance decreased relative to the prior month: from 3.02% to 2.72%. Depositories: 0.97% (previous month: 1.06%).

Loans 98

Loans Mortgages Staging Short sale 98

CT Homes

MARCH 7, 2024

A mortgage is essentially a loan from a bank or financial institution that enables you to purchase a home. The Role of Equity Equity is the portion of your home that you truly “own” — the difference between your home’s market value and the outstanding balance of your mortgage.

Purchase and sale agreement 78

Purchase and sale agreement Mortgages Equity Short sale 78

HomeLight

JUNE 8, 2021

Here are a few options to avoid: Short sales. The main thing you need to know about short sales is that the “short” refers to money , not time. Selling short means that your lender has agreed to allow you to sell your home for less than you owe on it. FSBO (For Sale By Owner).

Short sale 111

Short sale Sales Agents Days on market 111

HomeLight

JUNE 30, 2021

General Motors and Chrysler have been auto industry bailout recipients , and big names like Bank of America, Wells Fargo, and Goldman Sachs are just a few of those bailed out in the banking industry. Housing-specific recession sign #7: Home equity is stretched. Building equity is every homeowner’s goal.

Equity 93

Equity Loans Lending Industrial 93

HomeLight

SEPTEMBER 21, 2020

Desperate for a clean break from the situation, you’re wondering: can you sell a house with a lis pendens for a decent price — ideally before the bank forecloses or you rack up a bunch of legal bills? This occurs when the lender, such as a bank or other financial institution, sues the homeowner who has defaulted on his or her mortgage.

Title 105

Title Banks Investor Title search 105

HomeLight

DECEMBER 31, 2020

But selling too soon can be just as risky, causing you to forfeit sizable equity in a fast-appreciating property. If I had used all of the rent to pay down the mortgage, I would only owe around $40,000 today, so I would have $185,000 in equity (minus commissions and closing costs) if I still owned the property,” he says.

Equity 106

Equity Investor Closing costs Property Management 106

HomeLight

AUGUST 16, 2021

You’ll learn how to prospect for distressed properties, how to approach homeowners, how to work with banks, and much more that will position you as the local expert with solutions to help those in need. Christina’s course: Working with Foreclosures and Short Sales. HUD Homes for Sale. Links and Show Notes.

Marketing 76

Marketing Short sale Bankruptcy Banks 76

HomeLight

JUNE 24, 2022

First and foremost, you need to know how the divorce home is valued , and how your equity in the home will be split. Your answer could impact how the equity split from your home is calculated. You bought the home recently and haven’t had much time to build up equity. How is a home calculated in a divorce?

Purchase and sale agreement 105

Purchase and sale agreement Equity Sales Agents 105

Realtor.com

DECEMBER 14, 2022

Those still scarred from the Great Recession will remember watching in horror as millions of homeowners lost their properties to foreclosures and short sales after their mortgage payments suddenly spiked. But if rates stay elevated, or worse, rise, buyers could be saddled with higher payments that may be tough to afford.

Fixed-rate mortgage 102

Fixed-rate mortgage Mortgages Loans VA loan 102

Realtor.com

DECEMBER 14, 2022

Those still scarred from the Great Recession will remember watching in horror as millions of homeowners lost their properties to foreclosures and short sales after their mortgage payments suddenly spiked. But if rates stay elevated, or worse, rise, buyers could be saddled with higher payments that may be tough to afford.

Fixed-rate mortgage 99

Fixed-rate mortgage Mortgages Loans VA loan 99

HomeLight

SEPTEMBER 2, 2021

If you take out a home equity line of credit (HELOC) to pay for a remodel, you can deduct interest you pay on that loan — as long as you use the money to buy, build, or substantially improve the property. . (So, no — telecommuting instead of going into the office these days doesn’t make you eligible.). First-time buyer credit.

Residential 105

Residential Mortgages Loans Short sale 105