Tax Break For Underwater Homes Ends Soon

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Time is Ticking to Get a Fresh Start. According to recent data by CoreLogic, a leading provider of information, analytics and business services, almost 1 in 4 homes with a mortgage are underwater.  This number has continued to grow quarter over quarter as real estate values continue to decline. Many underwater homeowners allow their home more » Read more »

Top 5 Benefits of Buying a Bank-Owned Home

1. More home for your buck. How? By taking advantage of potentially lower interest rates and dramatically lower prices, two ways in which banks entice buyers to take a losing asset of their hands—fast! Bank-owned (REOs) and foreclosed upon properties average discounts between 20% and 25% off their overall retail value. Buying the property “as more » Read more »

The Inside Scoop: How Banks & Mortgage Servicers Are Coping With Foreclosure Explosion

In an effort to stay on top of the latest in the exploding foreclosures market and the ever-adapting mortgage loan servicing industry, I had the benefit of attending the Feb. 17-20  MBA’s National Mortgage Servicing Conference & Expo in Tampa, Florida. I’m excited to share the crucial insider information I was able to learn and more » Read more »

Gov. Schwarzenegger’s Foreclosure Moratorium Explained

Gov. Arnold Schwarzenegger signed a 90-day moratorium on California home foreclosures (legislation SB2X-7 and AB2X-7) amid criticism that the law likely won’t put a dent in the skyrocketing pace of repossessions. Here’s what you need to know: The bill, as part of the state’s recent budget deal, safeguards owner-occupied residences that had first loans on more » Read more »

This Week’s Top Properties: 3 Great Value Southern California Foreclosures

44 Tavella Place, Foothill Ranch, Calif. 92610 VIP SPECIAL, CALL FOR PRICING INFO CLICK HERE FOR MORE PHOTOS Square Feet: 2,115 Lot Size: 3,794 sq. ft. Rooms: 4 bedrooms, 2.5 baths Here’s your chance to buy a spectacular Orange County two-story home with all the trimmings. Nestled in a private neighborhood, this completely refurbished four-bedroom, more » Read more »

Obama Signs Economic Stimulus, Will Soon Reveal Homeowner Help Plan

Today’s breaking housing news is centered on two historic events: The Economic Stimulus Package – President Obama signed the $787-billion economic stimulus package in Denver, Colorado, just moments ago, in an attempt to revive the hard-hit economy and slow the tide of foreclosures. President Obama’s Housing Rescue Plan – Tomorrow the President will unveil his more » Read more »

Exclusive Insider Foreclosure List Now Update–February 1, 2009

Hi Everyone, I just updated the list.  I am getting one new property per day–so make sure you check back often. So, if you already have your password, go to the Exclusive Insider Foreclosure List now. http://markshandrow.com/reo/ If not, sign up here: http://markshandrow.com/foreclosures/ I will be sending out updates and photos of some the new homes later this week.  These properties [...] Read more »

Obama’s Stimulus Package: What About Homeowners?

President Obama’s $825 billion proposed stimulus package may not put so much as a dent into the subprime mortgage crisis, but it might provide some relief for first-time homebuyers. How? In the form of a new and improved $7,500 tax credit. As the law stands now, homebuyers have to pay the first-time buyer credit back more » Read more »

New Foreclosure Law California SB 1137: Relief … Or Not?

New foreclosure law California SB 1137—Was it a case of too little, too late? The thousands of Los Angeles and Orange County homeowners still on the brink of defaulting on their loans likely think so. California’s record-breaking, seemingly endless spike in foreclosures has left many frustrated with SB 1137, a supposed piece of “foreclosure relief” more » Read more »

The Endgame Nears for Fannie and Freddie

This was a great article from Barrons about Fannie and Freddie. Shares of Fannie Mae and Freddie Mac have declined by approximately 90 percent from the previous year and both companies are reporting quarter-over-quarter losses, leading some to believe than a government take-over or complete privatization is imminent. MAKING SENSE OF THE STORY FOR THE more » Read more »

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