We have all seen it on the wonderful Foreclosure Flipping show on HGTV that Tarek and his wife buy properties for hundreds of thousands of dollars; site unseen and then go into the house to see; “what did i buy?” The suspenseful, drama filled action makes for great TV viewership, but the reality is, I […]
A short sale allows the homeowner to sell the property for thousands less than they owe the lender, which helps to avoid foreclosure and salvage some of their credit rating. In many cases will allow the homeowner to avoid a deficiency judgment. Borrower may qualify for another mortgage in as little as 24 months (as opposed to five years for a foreclosure).
That’s the sound of 2012 in think for Lee County Real Estate that includes; Cape Coral, Fort Myers, Estero, Bonita Springs, Lehigh Acres, and even Alva. Short sales will be a driving force this year for sure. In the last quarter of 2011 short sales accounted for 21% of real estate sales. The lenders have […]
Courtesy of the Floridarealtors.org and an article from The Associated Press. LAS VEGAS – Dec. 13, 2011 – A new federal report shows that speculative real estate investors played a larger role than originally thought in driving the housing bubble that led to record foreclosures and sent economies plummeting in Nevada, California, Arizona, Florida and other […]
Well Christmas will come early for those facing foreclosure form the nations largest mortgage holder, Fannie Mae… Courtesy of CNNMoney.com NEW YORK (CNNMoney) — Happy holidays struggling homeowners! Fannie Mae, Freddie Mac and several large mortgage lenders have pledged not to foreclose on delinquent borrowers during the Christmas season. For homeowners with loans through Fannie […]
In today’s market 65% of homes nationwide are underwater…..YES that is a HUGE number. For Lee County there is easily 1 out of every 2 homes with a mortgage is underwater. 50% of the properties in Fort Myers, Cape Coral, Lehigh Acres, Bonita Springs, Estero, with a mortgage are underwater. If you find yourself as […]