Blog archives from 2009

RE/MAX Leads the Way on Short Sale Reform
Dec
18

RE/MAX Leads the Way on Short Sale Reform

The U.S. Treasury Department recently announced new guidelines to the short sale process that could speed the housing market recovery, a move RE/MAX Executives have been promoting in Washington D.C. for the past year. Short sales, transactions that can occur when a lender accepts the sale of a home at a price below the actual amount owed on the home, have become an increasing part of the real estate business as besieged homeowners look for alternatives to foreclosure. RE/MAX Chairman Dave Liniger has promoted a streamlined short sale process since foreclosures began flooding the market and has presented specific proposals to government officials.
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FHA to Raise FICO Requirements, Reduce Seller Concessions, Increase Downpayment
Dec
9

FHA to Raise FICO Requirements, Reduce Seller Concessions, Increase Downpayment

The minimum borrower FICO score will be raised although the final number has not yet been determined. (rumor is the min score will be 640 up from 620)  The agency is studying whether new FICO minimums should be accompanied by changes in other underwriting criteria for lower down payment loans. The up-front cash that a borrower will be required to bring to the table for an FHA-backed loan will also be increased to make sure that borrowers have "skin in the game.
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Fannie Looks to Level Foreclosed-Home Playing Field
Dec
2

Fannie Looks to Level Foreclosed-Home Playing Field

Fannie Mae announced a program aimed at helping ordinary home buyers compete with investors for foreclosed homes. Under the program, dubbed First Look, Fannie plans to consider offers only from potential owner-occupants and certain public-housing entities during the first 15 days in which a foreclosed home is on the market.


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Monday, December 25, 2023
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Wednesday, November 8, 2023
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Sunday, October 22, 2023
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Sunday, September 10, 2023
Five Common Mortgage Myths

Sunday, September 10, 2023
Women Consider Owning a Home to be a Vital Component of the American Dream

Saturday, August 26, 2023
The 8 Top Home-Selling Mistakes You Should Avoid

Monday, July 10, 2023
Fiscal Cliff Bill a Benefit for Homeowners

Wednesday, June 7, 2023
King County home prices resume their climb

Wednesday, May 31, 2023
Should You Help Your Adult Kids Buy Their First Home?

Tuesday, May 30, 2023
4 Guidelines for Successful Negotiations

Tuesday, April 14, 2020
Economists Bullish on Housing Recovery

Sunday, March 1, 2020
What is moving housing upward?

Thursday, August 2, 2012
It's a great time to be a seller

Saturday, June 23, 2012
Are appraisers falling behind on home value increases?

Wednesday, June 6, 2012
Is Now the Time to Invest in Rentals?

Thursday, May 24, 2012
5 Reasons Now is the Time to Buy

Tuesday, May 15, 2012
Seattle-Bellevue-Everett Unique Housing Market

Thursday, May 3, 2012
Buying a home won’t get much cheaper

Tuesday, April 24, 2012
New Rules to Speed-up Short Sales

Thursday, April 5, 2012
Home Prices to Rise in 2013

Thursday, March 22, 2012
Buying Cheaper than Renting in 98 of Top 100 Major U.S. Markets

Sunday, March 11, 2012
Five Tax Breaks for Homeowners

Thursday, March 8, 2012
How the FHA Loan Plan Can Help You Refinance

Thursday, February 16, 2012
Housing Crisis to End in 2012 as Banks Loosen Credit Standards

Tuesday, January 31, 2012
When Freddie Mac Wins, Homeowners Lose

Estella said
"That is a beautiful shot with very good lighting ." about Women Consider Owning a Home to be a Vital Component of the American Dream
on Sunday, May 12, 2013 @ 9:57 AM

Chris White - Team Leader said
"Unfortunately you are not alone. It's more than an outcry. The powers that be really need to come down harder on Bofa than they already are. Working on these short sale for over 2 years now I've uncovered down right fraud happening on the lenders parts. If they cared more about moving this country forward than protecting their own wallets then they would cut the red tape and approve these short sales in a timely manner. Our team made the wise decision to get BofA loans which were FHA or Freddie Mac backed, approved prior to listing on the market. Then we can list the home as "Price Approved" and close in 30 days. In this instance BofA does a full appraisal, rather than an incompetent "Broker Price Opinion" (nothing against agents but they have no idea how to make adjustments on comparable homes) and then the bank issues an "Approval To Participate" letter which dictates what price we can go on the market and take anything north of 88%. I really do hope your situation improves. " about Congressional Bill to Speed Up Short Sales
on Tuesday, August 30, 2011 @ 9:15 AM

Lisa Zeiner said
"We made an offer 4 months ago to BofA, and have heard nothing. It was a cash offer which is better than the zero money they are collecting now. And since the people don't care they are trashing the place, by the time BofA gets around to it our offer will be gone as the place is a mess!! Septic issues now, garbage being dumnped. All of this could have been avoided if BofA really wanted to correct their cash flow problem and sell these properties in a timely manner. They cry about cash but then do nothing intelligent to fix the problem" about Congressional Bill to Speed Up Short Sales
on Tuesday, August 30, 2011 @ 9:06 AM

Jones Ramirez said
"Thank you for the work you have done into this post, it helps clear up a few questions I had." about How do appraiser’s determine a homes value?
on Tuesday, April 19, 2011 @ 10:07 PM

HollyRobsonf said
"Hey - I am certainly happy to find this. great job!" about Bank of America to Offer Principal Reduction to Underwater Borrowers
on Wednesday, April 13, 2011 @ 6:45 PM