Housing Wire

NOVEMBER 15, 2024

The health of the Home Equity Conversion Mortgage ( HECM ) book of business remains strong from FHA’s perspective, as its economic value has increased while the portfolio overall has recovered from issues that previously put it on shaky financial footing. 30, FHA has active insurance on an estimated 287,000 HECM loans. As of Sept.

Equity 397

Equity Short sale Loans Development 397

Keeping Current Matters

JANUARY 13, 2021

Yanling Mayer, Principal Economist at CoreLogic , recently revealed : “A distributional analysis of forborne loans’ payment status reveals that more than one third (39.1%) of all forborne loans are now 150+ days behind payment, while as many as 1-in-4 (25.5%) are 180+ days past due.”. Though 29.4% What are the experts saying?

Equity 294

Equity Short sale Principal Loans 294

Keeping Current Matters

SEPTEMBER 8, 2021

Investopedia defines it like this: “ Foreclosure is the legal process by which a lender attempts to recover the amount owed on a defaulted loan by taking ownership of and selling the mortgaged property. Loan modification. Short sale. When prices rise , so does the amount of equity you have in your house.

Equity 252

Equity Short sale Loans Sales 252

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

Keeping Current Matters

MARCH 10, 2021

Recently, the Urban Institute released their latest Housing Credit Availability Index (HCAI) which “ measures the percentage of owner-occupied home purchase loans that are likely to default—that is, go unpaid for more than 90 days past their due date. People are equity rich, not tapped out. This is nothing like the last time.

Equity 313

Equity New Construction Construction Short sale 313

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

Housing Wire

JULY 1, 2021

they may not be able to modify the loan, sell quickly or whatever else and thus end up foreclosed upon). This will be especially true for lower-income households with FHA loans that started with very little equity to begin with due to the low-down payment requirement. Second, ensure they are partnered with great vendors (i.e.,

Short sale 268

Short sale FHA loan Equity Sales 268

Housing Wire

DECEMBER 8, 2021

.” Getting ahead of this flawed premise, I wrote a series of articles that point out that this isn’t the credit bubble of 2002-2005, and the loans post-2010 were good. We have gone from near 5 million loans in forbearance to finally breaking under 1 million recently. America came back strong, and we left this crew in the dust.

Bankruptcy 525

Bankruptcy Loans Sales Short sale 525

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 ). Today, the vast majority of homeowners have significant equity in their homes. Most homeowners have substantial equity in their homes.

Equity 261

Equity Banks Closing costs Loans 261

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 Equity 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

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

DECEMBER 2, 2021

One of them is a short sale. The process is complicated and confusing, often leaving a worrisome question in its wake: How long does a short sale stay on your credit? What is a short sale? Helali advises consulting your loan servicer, as requirements vary amongst lenders. The process. The timeline.

Short sale 104

Short sale Sales Loans Banks 104

Housing Wire

APRIL 8, 2022

The legit high-level risk homeowners are 2018/2019 and 2020 FHA homebuyers because they lack selling equity, and they would make up that smaller portion of sub -60 FICO score home loans bought in this cycle. On top of all that credit payment data which looks great, the nested equity position looks fantastic.

Marketing 418

Marketing Lending Short sale Equity 418

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

RIS Media

OCTOBER 5, 2021

released its latest Mortgage Monitor Report , exploring the relationship between equity positions and downstream foreclosure start rates and, ultimately, distressed liquidations. Whether that’s due to lack of understanding of their equity positions or the foreclosure process in general is unclear,” he added.

Equity 98

Equity Fixed-rate mortgage Short sale Mortgages 98

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

RIS Media

MARCH 23, 2022

The total number of loans now in forbearance decreased by 12 basis points, from 1.3% of servicers’ portfolio volume in the prior month to 1.18%, according to the Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey, released last week. The share of other loans (e.g., resulted in a loan deferral/partial claim.

Loans 98

Loans Mortgages Staging Short sale 98

HomeLight

OCTOBER 30, 2023

Request an instant home value estimate to for a ballpark estimation of how much equity you have before selling a house with a mortgage. Stay in your house to build equity with a loan modification or forbearance. Stay in your house to build equity with a loan modification or forbearance.

Short sale 116

Short sale Equity Loans Mortgages 116

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. The “anyone can get one” loans of the past are illegal; now borrowers undergo stricter income, credit and asset checks. 3: Most Homeowner’s Cushion—Equity. in December 2019.

Marketing 131

Marketing Equity Lending Short sale 131

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

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

HomeLight

DECEMBER 1, 2021

We also connected with HomeLight Home Loans Mortgage Sales Leader Richie Helali, who offered an insider’s look at mortgage options that could help you hold on to your home — or let it go without falling into foreclosure. You’re maxed out on second loans and now you owe more than your home’s value. You have to relocate for work.

Purchase and sale agreement 111

Purchase and sale agreement Short sale Loans Mortgages 111

Realty Biz

JANUARY 19, 2023

Many people purchase homes with the intent to build equity, though life happens and homeowners end up underwater, whether it is upside down or with negative equity. Winding up with Negative Equity With the change in the market, housing prices fall and rise. It is best to wait until you bring your equity into positive territory.

Short sale 84

Short sale Equity Loans Mortgages 84

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. The seller has options as long as the house is worth more than the outstanding loan. The primary option when a house is worth less than the loan is a short sale.

Purchase and sale agreement 101

Purchase and sale agreement Short sale Loans Inspection 101

HomeLight

AUGUST 31, 2021

Let’s take a look at the most common foreclosure sales and how they work. Short sale. A short sale isn’t necessarily a foreclosure sale, but it’s common to see a short sale done to avoid foreclosure. A seller will usually have to prove financial hardship for the lender to agree to the sale.

Pre-approval 111

Pre-approval Short sale Banks Finance 111

Realty Biz

AUGUST 4, 2020

What are my options when I have little or no equity? Gil, the better term for what you are referring to is “under-equitied” meaning having less than 20% home equity. When you’re selling, having equity needs to at least cover the costs associated with selling, including paying off the mortgage.

Equity 59

Equity Short sale Investor Title 59

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

Lighter Side of Real Estate

APRIL 6, 2022

To put it simply, they were risky mortgages given to people who probably weren’t going to be able to afford the loans they were taking on. So your rate isn’t fixed for the life of the loan. How much will that monthly savings amount to over the entire term of the loan? Find out when your rate can be adjusted.

Mortgages 145

Mortgages Fixed-rate mortgage Banks Lending 145

HomeLight

JULY 31, 2022

Here are some options for pulling a successful sale, regardless of where you stand on your mortgage. Check your equity to get started. As a military member selling a house, the options available to you depend on your equity , which is the percent of your home that you own outright. Home Loan program.

VA loan 95

VA loan Purchase and sale agreement Short sale Pre-approval 95

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

Realty Biz

MAY 22, 2022

Now, the share of ARMs is 11% of overall mortgage loans. Every year thereafter, your rate can adjust a maximum of 2 percentage points (the second number, “2”), but your interest rate can never increase more than 5 percentage points (the last number, “5”) over the life of the loan. A Short History of ARMs.

Short sale 91

Short sale Loans Mortgages Equity 91

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. Loan estimate : A three-page document sent to an applicant, often three days after they apply for a home loan. The fee, usually 0.3 – 1.5 Source: Zillow.

Pre-approval 90

Pre-approval Pre-qualification Title search Inspection 90

RIS Media

JANUARY 29, 2021

Between prime (highest-quality) and subprime (lowest-quality) home loans are a category called “Alt-A mortgages.” . The federal government sets guidelines for Qualified Mortgages that focus on a borrower’s ability to repay the loan. How Are Requirements Different for Alt-A Loans? An Alt-A loan may be available sooner.

Debt-to-income ratio 98

Debt-to-income ratio Mortgages Bankruptcy Loans 98

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

First Team Real Estate

JANUARY 29, 2021

homeowners are more financially stable and have more equity in their homes. The bubble created by the Great Recession was fueled by subprime lending practices, which meant homeowners were qualifying for home loans they couldn’t afford. According to realtor.com’s predictions, home sale prices are expected to go up 5.7%

Equity 98

Equity Lending Short sale Sales 98

HomeLight

OCTOBER 30, 2020

Even some homeowners of higher dollar homes have wound up in foreclosure: “I had one foreclosure where the house was worth over half a million, and it went into foreclosure over a loan of $10,000. What many homeowners don’t realize is that they have equity built up in their house that can help them out of their current financial difficulty.

Short sale 105

Short sale Banks Equity Mortgages 105