New HUD Short Sale Rules

The Department of Housing and Urban Development (HUD) has released a list of new rules scheduled to take effect October 1.  The intended purpose of these rules is to reduce fraud in HUD short sales and deed-in-lieu of foreclosure transactions.  One of the rules also hopes to increase the net proceeds from short sales. Currently, real […]

SOLD: Country Living on Over 8 Acres, Short Sale Price!

Spacious, custom built, single level home. It has a large kitchen with a pantry and all the cabinet space you could need. The master bedroom suite features 2 walk-in closets, double sinks, and 6 ft jetted soaking tub. There are two additional rooms over the garage that would be perfect for a home office or studio. The […]

B of A Expands Short Sale Relocation Assistance Program

In October of last year I wrote about a program Bank of America was testing in Florida that they hoped would encourage home owners to sell their homes in a short sale instead of waiting for the bank to foreclose.  There were 11,000 home owners who agreed to participate in the pilot program but less than 1,000 sales closed according to The Palm […]

More Short Sales than Foreclosures in January

For the first time since the real estate market came crashing down there were more short sales in a month than deals on foreclosures.  The most recent data available shows that short sales accounted for 23.9 percent of all sales in January while 19.7 percent of sales were foreclosured homes, according to a Bloomberg article. […]

Owners Will Be Encouraged to Short Sale Their Homes….To Themselves?

That’s right, to themselves.  At least that is how a new program called Loan Refinance Assistance Pilot Project is being billed.  The program encourages homeowners who owe more on their home than it is worth to move forward with a short sale.  The tricky part is that the homeowner doesn’t sell the home to a […]

More Homes in Short Sale

  A week ago I wrote about a Bank of America program designed to encourage short sales in Florida.  Programs such as this signify a shift in banks’ approach to short sales and foreclosures.  RealtyTrac reports that the number of short sales approved by banks rose in the second quarter of this year while the length […]

Incentive to Sell Homes in Short Sale

Bank of America has introduced a program in Florida that offers home owners as much as $20,000 to short sale their homes.  The program which was introduced last week through emails to select realtors in Florida is just a trial to gauge interest.  Short sale offers on homes must be submitted by the homeowner to […]

New Law Affects Sellers of Homes in Short Sale

  This summer Oregon Governor John Kitzhaber signed House Bill 2916 into law.  Big deal, right?  Well, if you are trying to sell your home at a price “short” of what you owe your lender then it is a big deal.  One of the little known facts of short sales before this law was that even […]