Bank Owned

  • Housing Market 2013 01/11/2013 CBS Moneywatch article predicts housing depression will persist through 2013; interest rates will stay low through 2013 and probably through 2014; short sales and loan modifications will continue to increase.
  • Mortgage Debt Relief Extended 01/03/2013 The final act by the 112th Congress to avoid the fiscal cliff was a significant victory for homeowners. As a part of the legislation that cleared the US House of Representatives, Congress extended the cancellation of the mortgage debt relief provision for one year, through the end of 2013. What does this mean? If a lender forgives some portion of a homeowner’s mortgage in 2013, either as part of a short sale or foreclosure, or in a loan restructuring that reduces principal, the owner/seller will not be required to count that forgiven ...
  • Flood of foreclosures to hit market 04/13/2012 Now that a settlement has been agreed upon by the big five banks, we will be seeing more foreclosures. Although a flood of foreclosures hitting the market has its downsides, it is good for buyers that are looking at bank owned properties hoping to find a “good deal”.
  • Prices May Withstand Foreclosures 04/11/2012 Another wave of foreclosures is on its way according to this article on AOL Real Estate.
  • Public Auction Announcement 03/31/2012 Public Auction Announcement
  • BofA ‘Mortgage to Lease’ Program 03/23/2012 Homeowners with Bank of America mortgages that are facing foreclosure could stay in their home and make rent payments rather that mortgage payments. It is only available in select markets at this point, but it will be interesting to see how it works. Read full article Bank of America offers rentals to some facing foreclosure on CBS News
  • Foreclosures: a rising tide ahead 03/21/2012 According to this CNNMoney article it looks we might be seeing an increase in foreclosures. Read full article Foreclosures fall, but there’s a ‘rising tide’ ahead on CNNMoney