Houston Real Estate Blogosphere
Houston Real Estate Blogosphere brings together all the blog posts of REALTORS from the Houston area in one place
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Foreclosures & Investments

The most recently published posts in the Foreclosures & Investments category
Short sales can take up to three times longer than a traditional transaction. A lot can go wrong in that timeframe. These are the most common delays, according to a recent article by George “Gee” Dunsten, a real estate broker and president of Gee Dunsten Seminars, at RISMedia.Title issues: Be sure to do a title exam at the beginning in order to identify all individuals on the deed and mortgages, a...
Read Post [Posted on 08/01/2014 By John Askins]
If you put out a complaint box for customers of US banks and financial firms, you will get hundreds of thousands of complaints. That's what the Consumer Financial Protection Bureau—which was set up by Elizabeth Warren before she became a US senator—has discovered. And the bank that has drawn the most complaints is Bank of America. Wells Fargo, JPMorgan Chase, and Citibank were other top ...
Read Post [Posted on 07/31/2014 By John Askins]
Scammers continue targeting home owners, prompting the Consumer Financial Protection Bureau to issue warnings to underwater borrowers about widespread mortgage-modification scams. Scammers try to dupe home owners by claiming to be affiliated with government agencies or programs. They make promises to obtain a mortgage modification on behalf of the underwater home owner. They will charge up-front f...
Read Post [Posted on 07/31/2014 By John Askins]
Ocwen Financial Corp., a servicer of residential mortgages, launched a loan modification program to reduce the principal on a mortgage for delinquent borrowers, but the borrowers must agree to let loan investors share in future appreciation of the home’s value when the market recovers.  Through the Shared Appreciation Modification program, Ocwen will write down the principal of the loa...
Read Post [Posted on 07/31/2014 By John Askins]
As the number of foreclosed homes dries up in some markets, some investors are looking elsewhere for properties to turn into rentals. With the rental market still strong, some investors are either buying finished single-family homes that they can use as rentals or even developing vacant lots to turn into rentals from the ground up, The Wall Street Journal reports.  Last year, 5.8 percent of ...
Read Post [Posted on 07/29/2014 By John Askins]
Home buyers may not get as great of a deal on a foreclosure as they once did, according to Paul Diggle from Capital Economics in a report. Foreclosure starts have fallen and the inventory of foreclosures has been decreasing, which has caused the discount on foreclosures to lessen.The discount on foreclosed homes compared to other homes has fallen to a 12 percent average, according to Diggle. That ...
Read Post [Posted on 07/29/2014 By John Askins]
Many Americans have embraced the investor role in real estate, hoping it will fund their future retirement. First-time investors are taking the strategy of buying foreclosed homes at super low rates and turning them into rental properties to increase cash-flow now and hopefully later too. “The typical small-size mom-and-pop investor has two or three properties, looking at it as an income suppleme...
Read Post [Posted on 07/27/2014 By John Askins]
Short sale and foreclosure transactions can be fraught with potential legal problems for real estate professionals. And as the number of these transactions continues to skyrocket, agents need to be careful, says Stella Ling, managing senior counsel of the California Association of REALTORS®. Short sales success rate is only about 50 percent, Ling said, so "the best thing to do is to prescree...
Read Post [Posted on 07/26/2014 By John Askins]
More home owners are falling prey to scams that promise to “stop the foreclosure” and “save your home.” The Federal Trade Commission has released a report to help borrowers avoid falling victim to such scams, here are a few of its tips: 1. Watch for outlandish claims. "Eliminate your debt!" and "We guarantee to stop the auction" are too good to be true. If it sounds like an easy way out, don’t bel...
Read Post [Posted on 07/25/2014 By John Askins]
Five to six million new renter households may be created within the next 8 years, caused from low inventories of homes available and tight credit conditions, according to the Bipartisan Policy Center. Rental demand is expected to particularly increase among seniors looking to downsize their homes, as well as young adults and a growing immigrant population. “We expect to see an increase in househol...
Read Post [Posted on 07/23/2014 By John Askins]
Following a similar move by J.P. Morgan Chase, Bank of America Corp. runs a program geared to reducing loan balances for military borrowers who are struggling to pay their mortgages as they leave active duty.Many of the banks' measures go beyond protections already provided to military borrowers in the Servicemembers Civil Relief Act. The SCRA forbids foreclosures on active-duty military and ...
Read Post [Posted on 07/22/2014 By John Askins]
Foreclosures and short sales can offer some home buyers big bargains, with the typical discount on a foreclosure about 19 percent, but buyers should be careful not to be guided by price alone, housing experts warn. “Distressed properties can have great appeal,” says Wendy Forsythe, executive vice president at Atlantic Pacific Real Estate. “Discounted prices and historically low interest rates make...
Read Post [Posted on 07/19/2014 By John Askins]
As U.S. home prices rise, consumers are once again prioritizing their mortgage payments over paying down credit card debt, according to a report from TransUnion. It’s the first time since 2008 that borrowers have shifted their focus back to mortgage debt ahead of credit card debt. Mortgage delinquencies are falling, too. Following the housing crisis, many home owners were underwater on...
Read Post [Posted on 07/17/2014 By John Askins]
A study published in the Housing Policy Debate found that communities that zoned too strictly for the development of large, single-family homes are at greater risk for foreclosure versus areas that accommodate a wider range of housing options.  Arnab Chakraborty, a professor of urban and regional planning at the University of Illinois, remarked, "If you push too much housing in the ...
Read Post [Posted on 07/15/2014 By John Askins]
If you are looking for homes for sale zoned to Hamilton Elementary School in Cy-Fair ISD, you can find them here: http://houston-real-estate.houstonprimerealty.com/i/homes-for-sale-zoned-to-hamilton-elementary---cy-fair-isd?start=1&per=50...
Read Post [Posted on 07/14/2014 By Kevan Pewitt]
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