More Mortgage Refi Modifications for “Underwater” Borrowers

Posted by: Carleton Sheets in unemployment, Refinance, Real Estate, Obama, mortgage, loan to value, Loan, Interest Rate, Freddie Mac, Foreclosure, Fannie Mae, fair market value, Economy, Credit, borrower, Barack Obama on Jul 02, 2009.

A recent article published by CNNMoney.com reports that the Obama administration has revised its initial mortgage refinancing program to help more borrowers---including those whose homes are valued below their loan amount---qualify for refinancing. The revisions also include stipulations that enable eligible borrowers who are either in default or at risk of defaulting on their loan to lower their

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Will New Housing Initiatives Work?

Posted by: Carleton Sheets in Tax Credits, Short Sale, Recovery, Real Estate Market, Real Estate Investor, HUD, Housing Market, Foreclosure, Deed in lieu of foreclosure, Barack Obama on May 14, 2009.

As an investor, I'm excited about the new initiatives and incentives from Washington that I've been reading about the past week or so ...

  1. First, and most recently, the Obama administration will be announcing new measures to expand its housing program. These measures are expected to encourage lenders to accept a short sale (if offered) or a deed in lieu of foreclosure when presented, rather

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Have You Seen the Light?

Posted by: Carleton Sheets in Real Estate Market, Real Estate, Property, Mortgage applications, Incentive, Housing Market, Economy, Confidence, Buyers market, Barack Obama on May 07, 2009.

I've been reading quite a few articles lately suggesting that some analysts are beginning to see a glimmer of light in the housing market.

For instance, a recent article in USA TODAY reported that well-kept homes in good neighborhoods are receiving multiple offers---even in states with high foreclosure rates. Why? It's a buyer's market right now and, as buyers become less "timid," they are

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Housing Plan In Effect

Posted by: Carleton Sheets in Real Estate, Modification, Lender, Housing Bill, Foreclosure, Barack Obama, Bailout, Assistance, Amortization on Mar 09, 2009.

Last week, the Obama Adminstration put the new housing plan in effect. Under this part of the plan, lenders are given incentives for enacting loan modifications to lower monthly mortgage payments. These modifications would be available not only to borrowers who are currently late on their payments, but may also qualify borrowers who are current on payments but deemed "at risk."

I was reading

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Will It Be Enough?

Posted by: Carleton Sheets in Tax Cuts, Tax Credits, Stimulus, Reduce Taxes, Real Estate Investor, Real Estate, Government Stimulus, Economic, Barack Obama on Feb 13, 2009.

The new stimulus package proposed by President Obama has finally been passed, amidst much discussion between the House and the Senate, and between the Republicans and Democrats on Capitol Hill. The details of the package continue to emerge.

The New York Times reports that the bill includes a large amount of tax cuts and tax breaks. Many of these will have a nice, positive impact on those

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Now That the People Have Spoken …

Posted by: Carleton Sheets in Real Estate Market, Real Estate, Housing Market, Economy, Credit, Confidence, Barack Obama on Nov 05, 2008.

No matter who you voted for, you have to admit that change is in the air. And now that the election is over, it's time for our government to get down to business! From what I've heard on CNN and read about in the news, I expect that President-elect Barack Obama is already making changes in the cabinet, and plans to get things up and running the minute he enters the Oval Office in January.

I'm

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