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 […]
Archive for February, 2012
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 […]
