Archive for April 15th, 2008
Investor Report: Short Sales Transactions Hot
Tuesday, April 15th, 2008Written by Kenneth R. Harney Realty Times
January 11, 2008
What’s the hottest subject right now in residential real estate investing?
No question about it: Picking up houses at great prices through short sales-transactions where lenders agree to take less than they’re owed and allow financially-stressed home sellers to avoid foreclosure.
One top specialist we talked to — Raffi Tal of iShortSale.com in Los Angeles — has nearly 900 transactions currently in process, concentrated mainly in places you’d guess-California, Nevada, Arizona and Florida.
Investor Report: Fannie Mae and Short Sales
Tuesday, April 15th, 2008Written by Kenneth R. Harney Realty Times
April 11, 2008
Here’s some good news for investors interested in “short sales” — that’s where home owners who can’t afford their mortgages sell their houses at substantial discounts, often below what they owe on the loan.
Fannie Mae, the single biggest player in the American mortgage market, plans to crank up the pace of short sales on properties in its bulging portfolio. Fannie intends to “streamline” procedures to enable pre-foreclosure sales to speed through what is currently an extended, and often complicated, process.
Washington Report: Bills on Capitol Hill
Tuesday, April 15th, 2008Written by Kenneth R. Harney Realty Times
April 14, 2008 Realty Times
There are literally dozens of bills on Capitol Hill that are aimed at relieving the mortgage and housing crisis. Some of them — like FHA reform — have been bouncing around for months with no final action.
On the House side right now, what could be the mother of all housing-relief bills is taking shape. Reportedly it will roll together reform of Fannie Mae and Freddie Mac, plus all sorts of new add-ons, including a $300 billion authorization for FHA to buy up and refinance delinquent mortgages held by private lenders.