March 2010 - Posts
You may have seen the acronym BPO come up in articles about foreclosures or loan modifications. BPO stands for Broker Price Opinion. Its name is fairly self-explanatory -- it is a broker or an agent giving his or her opinion on a property's price
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On November 30, 2009, the Treasury Department released guidelines for a new program called Home Affordable Foreclosure Alternatives (HAFA). HAFA is an optional program under the Home Affordable Modification Program (HAMP). HAFA and HAMP -- got it? Trust
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The Cash for Keys program is a win-win situation for the foreclosed homeowner and the bank, as it rewards the homeowner for keeping things tidy and working with the bank and it keeps the bank's asset (the home) in good condition. With that being said,
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A Cash for Keys offer usually comes with a set move-out date. Just like the actual dollar amount involved, this date can be negotiable — but it must happen before you sign on the dotted line. Once the date has been agreed to and your signature is
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When preparing to move out following a foreclosure notice, you might be able to get a little financial boost that smooths over your transition between homes thanks to the Cash for Keys program. Not everyone will get a Cash for Keys offer (it’s up
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Are you keeping your foreclosed home in good repair? If yes, then you are in luck -- the bank will most likely want to ensure that it stays that way, and they'll pay you to do that. That's known as Cash for Keys, a program designed to expedite
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If you know you're on the path to foreclosure, then you're probably on pins and needles waiting to see when someone will knock on your door to kick you out. How long can you actually stay in a home after a foreclosure? Most state laws have their
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Many people today are facing bankruptcy procedures (for more on that, see our posts on Chapter 7 and Chapter 13 bankruptcy). But what happens after the whole thing finishes? Is it really hopeless in buying a new home? No, actually, buying a home is possible
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If your mortgage is pushing you far underwater, there is an alternative to foreclosure. Remember, banks would rather have you paying the mortgage than letting it slide. If they go to foreclosure, then they have to go through all of the legal hoops of
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For many homeowners these days, it's difficult to take a look at real estate listings in their neighborhood. Home prices have fallen by dramatic levels, and some have lost more than half of their value in a short while. If you're in that boat,
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Maybe you're looking at all of the real estate ads touting below-market prices and you're wondering if you should jump in. These prices and awesome interest rates won't last forever, so maybe it's time to strike while the iron is hot --
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So you've negotiated your Cash for Keys agreement, found a new place to live, and you're ready to move on to the next chapter of your life. During the packing process, you might look at your home and wonder what you can exactly take with you.
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In our <a href="http://nicereohomes.com/how-do-i-get-a-list-of-homes-in-default/">last post</a>, we looked at getting a list of homes in default. Let's go to the next step past that and consider homes in foreclosure. First, what's
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When you’re fishing around for bargain-priced homes to buy, one way to get an inside track is to try to dig up a list of homes in default. “Dig up” is the operative phrase here, as these types of things aren’t necessarily floating
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In our last post , we got into the details of a short sale. So now that you understand what’s involved with a short sale, let’s take a step back and look at the bigger picture. In other words, should you consider a short sale if you’re
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You’ve heard the term foreclosure in the news but you might not have heard the term “Short Sale” as much (though it’s pretty prominent in advertisements these days). So what is a short sale? A short sale is simply the term given
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Things are almost always cheaper when you buy in bulk.That's the whole principle behind Costco, and you know what? That principlefilters into just about every other industry, and real estate is no different.With so many foreclosures and REOs on the
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An asset manager can mean many things depending on what industry you refer to (and no, we’re not referring to your computer operating system’s asset manager in this blog post). Even in real estate, it can mean different things — someone
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So, you’ve found a home in foreclosure that you’re interested in. Can you buy it out of foreclosure or do you have to wait for auctions and all of those other logistical hurdles to pass? The answer is yes, you can buy a home out of foreclosure.
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