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From REI Blog - view blog entries - visit this blogJuly 15, 2008 at 12:57 pm ET
To find out which properties are going up for auction, you should read the local legal newspaper in which these auctions are advertised. Alternatively, most counties maintain a service that picks up such notices and ... ( more)
From REI Blog - view blog entries - visit this blogJuly 7, 2008 at 6:06 pm ET
It’s what people always think of when foreclosures are mentioned. The auctioneer, the gavel, the bidders, and the frenzy of pushing up the price. It’s usually not as dramatic as that, but there’s no question ... ( more)
From REI Blog - view blog entries - visit this blogJuly 3, 2008 at 7:58 pm ET
A Private Headache
There are many individuals who become involved in real estate repossessions unexpectedly and in an unwanted fashion. For example, Fred took back a second mortgage for $10,000 on his house 3 years ago. ... ( more)
From REI Blog - view blog entries - visit this blogJune 30, 2008 at 3:03 pm ET
The IRS lists property it has seized and is offering for sale on its Web site.
Generally, there are fewer than 100 properties at any given time, and they are scattered across the country. The terms ... ( more)
From REI Blog - view blog entries - visit this blogJune 23, 2008 at 6:24 pm ET
The General Services Administration (GSA) sells surplus real estate owned by the government. This property is acquired from a wide variety of sources. Some comes from the Internal Revenue Service (IRS), which acquires property from ... ( more)
From REI Blog - view blog entries - visit this blogJune 13, 2008 at 3:11 pm ET
The housing crisis grew worse in May, as more than 73,000 American families lost their homes to bank repossessions, up a staggering 158% from the 28,548 households that were dispossessed in May 2007.
Foreclosure filings of ... ( more)
From REI Blog - view blog entries - visit this blogJune 8, 2008 at 1:03 am ET
making cash flow even/positive
Monthly rental income >= P.I.T.I.H.
My break-even point is *even* cash flow. The way I see it is that I can own a sharply discounted properties with nearly 100% bank financing. The rental ... ( more)
From REI Blog - view blog entries - visit this blogJune 8, 2008 at 12:27 am ET
REOs with over-corrected pricing are located in working class or lower income neigbhorhoods. They are not necessarily crime-ridden or dilapidated areas. Before the subprime crisis, these places used to have median prices around 300K range. ... ( more)
From REI Blog - view blog entries - visit this blogJune 8, 2008 at 12:24 am ET
For those > 1% rule, are they good investment?
All I can say is this, they are *uncertain* investments. Some may be good for the long term if future appreciation is taken account of. However, one ... ( more)
From REI Blog - view blog entries - visit this blogJune 6, 2008 at 3:17 pm ET
Home mortgage refinance refers to replacing an existing home mortgage with another one at lower interest rates. Refinance of a property is a good option for homeowners who purchased the mortgage at a higher rate ... ( more)
From REI Blog - view blog entries - visit this blogJune 1, 2008 at 3:41 pm ET
* U.S. GDP grew just below 1% (annualized) in 1Q 2008, with final sales to domestic purchasers falling (slightly) for the first time since 1991. Weak consumer spending, a pronounced shift to decline in business ... ( more)
From REI Blog - view blog entries - visit this blogMay 28, 2008 at 7:57 pm ET
While the housing collapse continues, with residential construction likely to decline for the remainder of 2008, there are reasons for optimism that the pace should soon begin to subside. Since peaking in 2Q 2006, the ... ( more)
From REI Blog - view blog entries - visit this blogMay 21, 2008 at 7:46 pm ET
Although real estate mortgages are funded through banks, mortgage bankers, and their financial lending institutions, in most cases the money actually comes from two giant secondary lenders: Fannie Mae and Freddie Mac.
These are quasi-public organizations ... ( more)
From REI Blog - view blog entries - visit this blogMay 20, 2008 at 1:41 pm ET
Bay Area home sales climbed nearly 30 percent from March to April, the first monthly gain in half a year as financing became easier to secure and shoppers took advantage of bargains, according to a ... ( more)
From REI Blog - view blog entries - visit this blogMay 13, 2008 at 2:09 pm ET
There seems to be no end to the number of foreclosure opportunities for investors these days. In keeping with this trend, a number of Web sites have been created to serve the foreclosure investor. To ... ( more)
From REI Blog - view blog entries - visit this blogMay 12, 2008 at 7:42 pm ET
Couched in the new terminology of decoupling versus recoupling whether the old aphorism “when the US sneezes, the world catches a cold” holds this time or not has been the subject of much debate. Growth ... ( more)
From REI Blog - view blog entries - visit this blogMay 6, 2008 at 7:29 pm ET
The Veterans Administration also offers bargain hunting opportunities. It guarantees the purchase of homes by eligible veterans. This basically means that if the veteran defaults on the mortgage, the VA will pay off the lender ... ( more)
From REI Blog - view blog entries - visit this blogApril 30, 2008 at 1:52 pm ET
Should I Get an Appraisal First?
You should certainly check out the property and get a comparative market analysis (CMA) so that you know what similar properties have sold for. That should be your guide as ... ( more)
From REI Blog - view blog entries - visit this blogApril 21, 2008 at 4:54 pm ET
What Kinds of Problems Do REOs Have?
The problems with REOs are usually far less than for other repossessed property, but they do exist and can be severe on occasion. Frequently, the lender will pay for ... ( more)
From REI Blog - view blog entries - visit this blogApril 18, 2008 at 6:24 pm ET
After slipping 0.7% in February (revised from a preliminary estimate of a 0.6% decline), housing starts tumbled 11.9% in March to 947,000 units. After two consecutive months of sharp gains, there was a large decline ... ( more)
From REI Blog - view blog entries - visit this blogApril 16, 2008 at 7:35 pm ET
This bypasses the REO department entirely, at least with regard to locat¬ing the properties. Remember that the foreclosure process involves adver¬tising the sale of the property and then holding a public auction. At that public ... ( more)
From REI Blog - view blog entries - visit this blogApril 14, 2008 at 7:56 pm ET
That, of course, is the trick. With some lenders being so secretive about them, you won’t find REOs waiting for you to come along. In fact the most difficult part about this area can be ... ( more)
From REI Blog - view blog entries - visit this blogApril 13, 2008 at 10:03 pm ET
The subprime mortgage bust has scared a lot of people away from the housing market. The nightly news is filled with images and stories of everyday Americans who are losing their homes because ... ( more)
From REI Blog - view blog entries - visit this blogApril 10, 2008 at 3:29 pm ET
WASHINGTON (AP) — The Senate on Thursday passed a bipartisan package of tax breaks and other steps designed to help businesses and homeowners weather the housing crisis.
The measure passed by an impressive 84-12 vote, but ... ( more)
From REI Blog - view blog entries - visit this blogApril 8, 2008 at 12:37 pm ET
An industry group said Tuesday that pending U.S. home sales fell in February to the lowest reading since the index began, signaling the housing market distress is not yet over.
The National Association of Realtors’ seasonally ... ( more)
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