Tag Archives: mortgage

New Short Sale Rules Take Effect in June

Posted on July 4, 2012 by John Anderson

With short sales expected to outpace foreclosures in the coming year, the short sale process itself will be streamlined under new guidelines adopted by Fannie Mae and Freddie Mac. The guidelines, which take effect on June 15, 2012, require mortgage … Continue reading →

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Banks Continue to Tighten Mortgage Lending Standards

Posted on July 3, 2012 by John Anderson

A dramatic increase in the demand for residential mortgage loans has led banks to tighten lending standards once again, according to a new report by the Federal Reserve. In light of the uptick in demand, some banks have further tightened their lending standards Continue reading →

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Housing Prices Down, But Dallas Market Better than Most

Posted on April 27, 2012 by John Anderson

Housing prices continue to move downward in major metropolitan areas, according to data from the latest S&P/Case-Shiller Home Price Indices, the leading measure of US home prices In contrast, home prices were unchanged in Dallas from January to February 2012. Continue reading →

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Making Six Figures, But Still Poor

Posted on April 10, 2012 by John Anderson

Owning a home is a fundamental part of the American Dream, and a decade ago, that dream took on a new dimension, as the housing market boomed from coast to coast Lax lending standards and the excitement around housing starts synthesized even greater demand, particularly for super-sized houses Continue reading →

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Housing Prices Expected to Increase Next Year

Posted on April 3, 2012 by John Anderson

If the latest forecast by the Urban Land Institute (ULI) is correct, the Dallas area will see a turn around in housing prices as soon as 2013 Similarly, housing price increases may be more modest in our area Continue reading →

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Texas Housing Market is Improving…Maybe

Posted on March 25, 2012 by John Anderson

The bad news: lenders have posted 4,013 homes in the Dallas-Fort Worth area for forced sale at auction next month, according to data from Foreclosure Listing Service Inc The good news: Home foreclosure filings in DFW are down 22 percent for April from a year ago In fact, April marks the 14th consecutive month that foreclosure levels have declined year-over-year. Continue reading →

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More Houses Underwater Means Tough Decisions for Homeowners

Posted on March 7, 2012 by John Anderson

Amidst all of the political wrangling over the state of the economy, new data indicates that the housing market is still suffering, with nearly one in four homeowners underwater with their mortgage. In addition, another 2.5 million homeowners qualify as “near negative equity,” meaning they have less than five percent equity in their home, according to the report Continue reading →

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Realtor Tip 4: Setting Expectations with the Short Sale Client

Posted on March 1, 2012 by John Anderson

Short sales are unique because both the realtor and homeowner are focused on getting the seller out from the mortgage, rather than increasing the value of the home to bring in offers In contrast, the short sale client is losing their house Setting expectations up front about the short sale process can make the transaction much easier. Continue reading →

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Realtor Tip 2: Considerations Before Starting a Short Sale

Posted on February 23, 2012 by John Anderson

Continuing our new short sale series for realtors, we look at the different life events and financial circumstances that could affect the success of a short sale If a client has contacted you to negotiate a short sale with their lender, you should make sure you have a complete picture of the client’s situation Continue reading →

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How Long Does a Short Sale Take?

Posted on December 16, 2011 by John Anderson

If you have been researching the short sale process online or know someone who has bought or sold a home in a short sale, you may have heard that it can take 6-9 months to complete the transaction When you work with a short sale specialist, it generally takes 3-4 months from the time you initiate the short sale until the house is sold Continue reading →

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