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FHA Short Refinance Programs falls Short

February 8, 2011 By dustin Leave a Comment

WASHINGTON – Feb. 8, 2011 – A government program intended to help hundreds of thousands of underwater homeowners is off to a slow start.

Since its September launch, only 38 homeowners have refinanced mortgages through the FHA Short Refinance program, backed with $11 billion in federal funds. The Federal Housing Administration has said the program could eventually help 500,000 to 1.5 million borrowers.

The program requires mortgage owners to forgive at least 10 percent of a borrower’s unpaid principal so that the loan can be refinanced into an FHA loan at a lower interest rate. The goal: keep homeowners out of foreclosure even if they owe more on their homes than the homes are worth. Read more...

Filed Under: Blog, FHA Loans, News Tagged With: bailout, bank of america, Corinne Russell, failed loan mods, Fannie, fannie mae, fannie mae and freddie mac, federal housing administration, FHA, fha insured loans, FHA Loans, fha short refi, fha short refinance, hamp, helpful resources, housing and urban development, housing finance agency, loan assistance, loan program, Neil Barofsky, Obama, stabilization program

2010 Broward single family home stats

January 13, 2011 By dustin Leave a Comment

The Numbers Are In!…….

Check out the Stats for Single family homes in Broward county between Dec 2009 and Dec 2010. I have several Charts below you can see if you’re interested. Pretty interesting stuff (if you’re into this kind of information). A few of the key points I noticed were:

1) The number of properties that were “under contract” increased.

2) New inventory seemed to dwindle toward the end of 2010

3) The total number of homes for sale remained pretty much the same through the entire year (even in light of #2 above)

4) Home sales also slowed down toward the end of 2010 (December is typically slow).

5)The Average Days on Market for homes that sold/under contract was pretty stable throughout the year at approx 101 days on market. They did rise slightly at the end of the year.

(Click to enlarge) Read more...

Filed Under: Blog, Common Real Estate FAQs, News Tagged With: 2010, Broward, broward county, broward county fl, broward property, helpful resources, helpful tools, home buyer education, home stats, homes for sale, inventory, Properties, real estate broker broward, Short Sales, single family

Inspector general calls mortgage modification program (HAMP) a ‘failure’

October 28, 2010 By dustin Leave a Comment

WASHINGTON – Jan. 27, 2011 – A mortgage modification program aimed at saving homeowners from foreclosure has failed because regulators are “afraid to rein in or impose penalties on the mortgage servicers” whose record “has been nothing short of abysmal,” the program’s watchdog told Congress Wednesday.

As a result, some House Republicans moved to scrap the 2-year-old program.

Neil Barofsky, the special inspector general for the government’s bank bailouts, bluntly labeled the mortgage program a “failure” in testimony before the House oversight committee.

“And I think that if Treasury doesn’t respond to some of these things in a quick manner,” he said, the call to dismantle the Home Affordable Modification Program (HAMP) “is just going to become a louder and louder chorus, and understandably so.” Read more...

Filed Under: Blog, Foreclosures, News, Short Sales Tagged With: bailout, buying short sales, deed in lieu, Deficiency, department of housing and urban development hud, facing foreclosure, Facts, failed loan mods, fha insured loans, hamp, helpful resources, home help, HOPE, house oversight committee, loan assistance, loan modification, loan modifications, loan program, Modification, mortgage modfications, mortgage servicers, owner assistance, Realtor, retention team, selling a home, selling short sale, Short sale, Short Sales, thomas kelly, treasury statistics, U.S.

Alternatives to Foreclosure

March 12, 2010 By dustin Leave a Comment

You may be on verge of missing your mortgage payments, behind on payments, or even facing foreclosure so what are your options? Try to look at the situation more from a financial standpoint rather than an emotional standpoint. This way you can more successfully analyze which option might best suit your needs and move you towards resolving your financial difficulty.

One very important thing to remember: Time is of the essence. Take time to think through your situation and make a decision. Then, take action right away so you have enough time to complete the solution you choose.

Nine options when facing Foreclosure

Call Me TODAY!

FHA Short Refinance Programs falls Short

2010 Broward single family home stats

The Numbers Are In!…….

Check out the Stats for Single family homes in Broward county between Dec 2009 and Dec 2010. I have several Charts below you can see if you’re interested. Pretty interesting stuff (if you’re into this kind of information). A few of the key points I noticed were:

1) The number of properties that were “under contract” increased.

2) New inventory seemed to dwindle toward the end of 2010

3) The total number of homes for sale remained pretty much the same through the entire year (even in light of #2 above)

4) Home sales also slowed down toward the end of 2010 (December is typically slow).

5)The Average Days on Market for homes that sold/under contract was pretty stable throughout the year at approx 101 days on market. They did rise slightly at the end of the year.

Inspector general calls mortgage modification program (HAMP) a ‘failure’

Alternatives to Foreclosure

+1 This Page!

Client Testimonials

Contact Me TODAY!

Local Resources

Call Me TODAY!

FHA Short Refinance Programs falls Short

2010 Broward single family home stats

The Numbers Are In!…….

Check out the Stats for Single family homes in Broward county between Dec 2009 and Dec 2010. I have several Charts below you can see if you’re interested. Pretty interesting stuff (if you’re into this kind of information). A few of the key points I noticed were:

1) The number of properties that were “under contract” increased.

2) New inventory seemed to dwindle toward the end of 2010

3) The total number of homes for sale remained pretty much the same through the entire year (even in light of #2 above)

4) Home sales also slowed down toward the end of 2010 (December is typically slow).

5)The Average Days on Market for homes that sold/under contract was pretty stable throughout the year at approx 101 days on market. They did rise slightly at the end of the year.

Inspector general calls mortgage modification program (HAMP) a ‘failure’

Alternatives to Foreclosure

+1 This Page!

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Client Testimonials

Contact Me TODAY!

Local Resources