In a recent study, the Chicago Booth/Kellogg School Financial Trust Index found that a full 36% of Americans would consider “strategic default”—another term for walking away from your mortgage—if they were underwater (owed more on their home than what it was worth). Now that more than one in four American homeowners is “underwater,” I feel [...]
Friday, April 10, 2009
As a residential Broker in Northern Nevada, having sold hundreds of homes over 18 years, I’m getting lots of calls and emails with questions about loan modification. These are real people with big problems and I’m frustrated: “I lost my job” “I went through a divorce, got raked over the coals, ended up with the [...]
Thursday, March 12, 2009
The Making Home Affordable Plan is part of President Obama’s plan and is projected to help up to 9 million families restructure or refinance their mortgages to avoid foreclosure. 2 of the Key Components: Refinancing for up to 5 million families unable to refi because of falling home values. $75 billion in incentives to loan [...]
Tuesday, January 20, 2009
As if we need another issue to contend with……. My partner and I recently re-directed our marketing efforts to include potential “short sales”. Although we both communicate regularly with our sphere (past clients, friends and business associates), neither of us has made a habit of sending vast quantities of mail to people we don’t know. The [...]
Wednesday, December 17, 2008
An interesting article from DS News, a leading Default Services Magazine – Even though working out loans is more profitable for the lender than foreclosing, why are foreclosures taking place at an accelerated pace? As we seek answers to the housing problems, the answer was right in front of us. Did this have to happen [...]
Monday, March 7, 2011
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