On November 29, 2012, the FHA extended the waiver of the 90-day “anti-flipping” rule for two years, through December 31, 2014. Last year’s extension was only for one year. You can get the link to the actual release in the Federal Register at the end of this article. Despite all of the hype about the […]
Archive for 2012
Agents Face High Risks with Bank of America New TPA
Real estate agents (and attorneys) soon will be held legally responsible for reading the corporate mind of Bank of America. Fortunately for everyone else, they will not be allowed to even communicate with Bank of America, much less be required to read its mind. Unfortunately, all of this will further harm distressed borrowers and suffering […]
Do Short Sales Net Banks 24% More Than Foreclosures?
Despite the “professional” statisticians analyzing the distressed property markets, one independent brokerage decided to gather the facts themselves. They concluded that in 2011 bank owned foreclosure properties sold for 24% less than short sales. McGeough Lamacchia Realty, with offices in Massachusetts and New Hampshire, apparently got fed up with all the talk about losses in the market and decided to […]
Can a “Note Buyer” Help Your Short Sale?
For the last several years private investors buying mortgage notes to facilitate short sales have been a quiet force for effective transactions outside of California. This practice is becoming increasingly more available in California recently as well. What or who is a “note buyer” and how can they help with a short sale? To understand […]
Why Freddie Mac Lied About Short Payoff Fraud
For nearly two years now we’ve heard Freddie Mac attacking private real estate investors who want to buy and resell short sale and REO properties as engaging in “fraud.” They have repeated this lie so much that it is accepted as “true” by many in the residential real estate industry, especially real estate agents receiving […]
Links to (weak) National Mortgage Settlement
The news is abuzz with this “historic” settlement that gives the big banks a big break and does little for consumers. As we’ve seen in the past, the claims in the press releases and sound bites are rarely close to the reality. Over the next several weeks I expect to dig into the actual agreement […]
Freddie Mac Makes Sound Investment…Against Itself
[The following is an article from John Grant. I don’t usually post articles or editorials by others, but this one, released today, is worth posting. The author, John Grant, represents residential real estate investors in Washington, D.C. Mr. Grant also works with hedge funds, investment banks and insurers. Mr. Grant is a graduate of The […]
