Posted by: Carleton Sheets in unclaimed funds, refund, Foreclosure on
Aug 28, 2009.
One of my staff members in our Illinois office recently sent me this article from the Chicago Tribune about unclaimed funds---mostly from the 1990s and pre- 2007 housing boom--- that are “sitting” in a mortgage surplus account.
Now, keep in mind when you read the Tribune’s article that the $18 million surplus isn’t a statewide surplus. The millions of dollars from unclaimed profits on
Many investors turn to flipping properties for relatively quick profits during the real estate market's boom years. However, savvy investors realize that even as times change and markets fluctuate, there are always opportunities in every market to make money flipping properties.
In the case of first-time homebuyers, purchasing a home can be a little overwhelming---especially since many of
It looks like more homeowners are falling behind on paying their property taxes in these tough economic times, and many are suffering the consequences---foreclosure.
The homeowners whose property taxes are escrowed by the mortgage servicer and included each month with their monthly mortgage payment don't have to worry about paying their taxes---as long as they are able to make their mortgage
Posted by: Carleton Sheets in Tenant, right to rent, Renter, Real Estate Market, Real Estate, Market Value, landlord, Foreclosure, fair market value, borrower on
Aug 14, 2009.
In an effort to deal with the growing number of foreclosures on the market, yet another program has been proposed. The Right to Rent Plan would actually allow distressed homeowners to stay in their homes after the foreclosure sale ... by paying a fair-market monthly rent to the "landlord" (the lender who foreclosed on the former homeowner). (Don't get this program confused with an earlier one
As I mentioned in one of my previous blogs, there are many new, revised, updated, and extended government programs aimed at alleviating the foreclosure crisis ... so many that I am a little confused at times. Will the latest program replace one that didn't work as planned? Or why does the government think one program will work better than the rest?
I recently read an interesting piece of news
As an entrepreneur and self-employed businessperson for over 30 years, I realize that business decisions are not always "moral" decisions. I don't mean that most of these decisions are unethical or dishonest, but that they sometimes cause hardships and stress for others. It has always saddened me to hear when companies are forced to lay off employees---especially valued employees who've worked
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
An article I just read in USA TODAY reported that the foreclosure rate will probably continue to move upward for a while. The culprit? And, no, it's not subprime mortgages this time ... it's the unemployment rate that's beginning to include borrowers who have good credit---and higher-end homes.
News like this undermines the cautious optimism some saw in the housing market recovery and
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 ...
- 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
Overwhelmed with the sheer volume of foreclosures and mortgage modifications, a number of lending institutions are unloading their portfolios of toxic mortgages and the notes are starting to trickle to investors.
Notes can be a good way to secure long-term wealth, since you are the "bank", collecting the monthly mortgage payments plus interest. Prices for purchasing these mortgage notes,
