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HUD Foreclosed FreddieMac’s Foreclosure Sale

FreddieMac wants to sell you a home. A foreclosed home, to be exact. And they’re willing to sweeten the deal by covering your closing costs, up to 3.5 percent of the sales price. That means a savings of over $5,000 if you were to buy a $150,000 home!

They call it "Smart Buy

… Continue

Added by HUD Foreclosed on August 13, 2009 at 4:00pm — No Comments

HUD Foreclosed Arizona may be the Next Foreclosure Hot-Spot

Arizona is apparently revoking some homeowners’ foreclosure protections. Take a look: "One of the reasons it’s so easy to walk away from the debt you owe on a home is that the lenders in many states are precluded from coming after you for any loss that they suffer when they foreclose and resell the home. It’s called anti-deficiency protection and to a lot of peoples’ surprise the Arizona legislature revoked the protection for certain buyers. "The new law stipulates that anyone that doesn’t occ… Continue

Added by HUD Foreclosed on July 28, 2009 at 3:00pm — No Comments

HUD Foreclosed Foreclosures: How to buy a Foreclosed Home

Foreclosures are more common these days, finding a foreclosed property to buy has become a lot easier than it was during the housing bubble. When home prices were increasing in the double digits annually and anyone could qualify for a mortgage , the supply of foreclosed homes was low. Now the the housing bust has arrived in full force, the supply of California foreclosures, Florida foreclosures and Texas foreclosures has gone through the roof. Foreclosures in other states are not that plentiful… Continue

Added by HUD Foreclosed on June 24, 2009 at 4:00pm — No Comments

Guy M-Stinson Bought for $230,000. Paid off +-$58,000 in just 8 months!

My wife and I purchased a property for $230,000 in August last year. We now owe a little over $172,000, which means that we have paid off around $58,000 of principle in just under 9 months. I think that this is a record to be proud of since millions (?) of people have gone the other way and headed into foreclosure. The question that I asked was; "If the traditional way of paying off a mortgage is producing a foreclosure mess, why follow it? Surely, there must be a better way to get ahead?" The… Continue

Added by Guy M-Stinson on April 22, 2009 at 2:03pm — No Comments

Brodie Stephens Divorcing Home Owners Forced To Live Together

Increasingly, Real Estate Professionals are hearing of a trend - which could remind folks of the movie, "War of the Roses." Current real estate market conditions have some divorcing couples looking to separate their lives, but realizing they can't afford to live apart until their home is sold. Unlike a few years ago, when many homeowners had loads of equity to share, and really good cr… Continue

Added by Brodie Stephens on March 30, 2009 at 12:43pm — No Comments

Guy M-Stinson Riding the Perceptual Wave

Markets are driven by perceptual waves. The question is how do you ride those waves? The property market, like the stock market rises and falls with the tide of perceptions. I learned about this from my days as a stock market trainer. What was interesting to me was the divergence that takes place between the value of a company and the value of its shares. The reason for this divergence has to do with perception. If the market perceives that the shares are going to be worth a lot of money… Continue

Added by Guy M-Stinson on January 30, 2009 at 11:00am — No Comments

Brodie Stephens Open - Open - Open

Fighting your inner demons may be difficult, BUT don’t be afraid to open the envelope. Recently a GreatWest GMAC Real Estate Professional recalled that she had gone to the home of a client to perform a listing presentation for a possible short sale. During the presentation and while looking at paperwork the client had, the agent noticed there were several recent envelopes the client had from the mortgage company. Most of the envelopes were not opened. When the agent asked why they had not ope… Continue

Added by Brodie Stephens on January 20, 2009 at 5:59pm — No Comments

HUD Foreclosed Real Homes selling for $1000!

Are you a "project person?" Love all those "HGTV" shows? Want to start investing in real estate? If you've answered "yes" to these questions, this offer may be right for you. CNN Money verifies what HUDForeclosed already knew. Foreclosure properties are selling dirt-cheap and even when you've factored in all the costs of renovation, these properties are amazing deals. Here's an excerpt from their recent article, describing the benefits of investing in "fixer-upper" foreclosure homes:… Continue

Added by HUD Foreclosed on January 9, 2009 at 5:00pm — 1 Comment

HUD Foreclosed Steadying Foreclosure Rate Spells Buyer Opportunity

A report released by the Mortgage Bankers Association on Friday, 12/5/2008 announced that the foreclosure levels are decreasing at a lower rate. A steadying foreclosure rate could mean that it's now safer than ever to invest in foreclosure real estate.

It may be time to move in and purchase your dream home, before the market skyrockets again. Imagine the amount of equity you will make when it does! You can read the report here, or on the Association's… Continue

Added by HUD Foreclosed on December 8, 2008 at 11:00am — No Comments

HUD Foreclosed Chicago Woman Buys Home for $1.75

The overflow of foreclosure inventory has made some companies desperate to unload their inventory, which is great news for buyers. A few months ago, a San Diego company offered a buy one, get one free deal on area properties. More recently, an individual purchased a fixer-upper home for only $1. The latest addition to this list of unusual o… Continue

Added by HUD Foreclosed on October 15, 2008 at 2:00pm — No Comments

HUD Foreclosed Federal Grants for FL Foreclosed Homes

One of the largest problems of mass foreclosure is that abandoned homes become damaged the longer they remain unoccupied, leaving whole neighborhoods and cities in ruin and lowering the value of remaining homeowners' property. Florida has petitioned to the Federal Government for help in dealing with this issue. The Government has responded by granting Florida a large sum to repair its foreclosure properties. Interestingly, the State wants to sell repaired foreclosure homes to home buyers with… Continue

Added by HUD Foreclosed on September 29, 2008 at 11:00am — No Comments

HUD Foreclosed Ownership Nightmare - "My Neighbor's Foreclosure may Evict me"

Myrna Mosnowitz has done everything right in her Condominium ownership. She has paid off her mortgage, has never missed tax or condo fee payments, and maintains a sizable insurance policy. Yet, Mosnotwitz may be severely impacted by the current real estate market because of the tenants around her who are entering foreclosure; she may even lose her home, as a result. Due to a growing number of foreclosure in Mosnowitz' condominium, the association that manages her building are more than… Continue

Added by HUD Foreclosed on September 25, 2008 at 10:00am — No Comments

HUD Foreclosed How to Choose a Lender

I thought the following information would be useful in your search for a lending institution. The following article lays out five helpful suggestions you can apply to your own search for a lender. The viewpoint is particularly interesting because it comes from the perspective of an agent, who would be intimately familiar with lending. By taking the preemptive approach outlined here-in, you might make the buying process easier on yourself. For example, the second tip advises you to work… Continue

Added by HUD Foreclosed on September 17, 2008 at 11:30am — No Comments

HUD Foreclosed Bon Jovi Helps Build Affordable Newark, NJ Housing

The famous rock star is at it again. Bon Jovi's "Philadelphia Soul Charitable Foundation" has donated $1 million dollars to the development of a Newark, NJ apartment complex. The building is designed to provide affordable living to people who have been made homeless by their special needs.
"NEWARK — One of New Jersey's best-known rock 'n' rollers has teamed up with the state to provide affordable housing in the state's largest city.

"Jon Bon Jovi's Philadelphia Soul Charita
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Added by HUD Foreclosed on September 3, 2008 at 11:00am — No Comments

HUD Foreclosed Homeownership Used to Cover up Cheating Ways

A Las Vegas escort, upon finding herself evicted because of her "boyfriend's" foreclosure, speaks out. Apparently some married men are in the habit of purchasing Las Vegas real estate with ulterior motives: they want to provide a chateau for their "girlfriends" and have a great cover-up story for visiting the area so often. As good landlords, it's important to check on your properties every so often, right? Here's the Scoop:
"Apparently, some married California men had motives other
… Continue

Added by HUD Foreclosed on August 28, 2008 at 1:00pm — No Comments

HUD Foreclosed Indiana Casino up for Auction

Casino Aztar, owned by Tropicana Entertainment LLC, went up for sale towards the end of 2007 and received a $220,000,000 offer from Eldorado Resorts LLC in Reno, Nevada, but never finished closing because Tropicana declared bankruptcy around the same time. Presumably with the incentive to achieve a higher asking price, Tropicana will instead put the casino, located in Evansville, Indiana, up for auction. If approved by the bankruptcy court, Tropicana will hold the auction on November 10, 2008 an… Continue

Added by HUD Foreclosed on August 26, 2008 at 3:30pm — No Comments

HUD Foreclosed Special Tax Incentive for Home Buyers - WSJ

A recent bill passed by Congress and supported by the President will give first-time home buyers a tax credit of up to $7,500. Unlike the recent tax credit mailed to American taxpayers last Spring, property tax payers will have to pay this credit back over the next 15 years. To qualify for the full credit amount, buyers must not have made a primary residence purchase between April 8, 2005 and April 8, 2008, must have made a primary residence purchase after April 8, 2008 which costs no less than… Continue

Added by HUD Foreclosed on August 20, 2008 at 2:00pm — 2 Comments

HUD Foreclosed Foreclosure Home Sells for $1

The ultimate property "deal" has finally happened: in Detroit, Illinois, a foreclosure home sold for less than the price of a bottled water. In truth, the property likely is no longer worth a dollar, and would benefit more from being destroyed and rebuilt than from renovation. But hey, the land is worth more than one dollar, so not all is lost. Why is the home is such bad shape? The property, sitting in foreclosure since Summer of 2007, has been the victim of the two biggest problems of foreclo… Continue

Added by HUD Foreclosed on August 15, 2008 at 11:38am — 2 Comments

HUD Foreclosed 92% of U.S. Major Cities Continue to See Home Prices Fall

In a Press Release issued July 7, 2008 by Radar Logic, Inc., it would seem that primary U.S. cities are still experiencing a decline in housing market prices. The company, "a technology-driven data and analytics business that produces a daily spot price for residential real estate in major U.S. metropolitan areas," calculates its findings based on actual market data, using "proprietary and transparent algorithms." Their data reflects a continued slump in the housing market.
"For Apri
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Added by HUD Foreclosed on July 8, 2008 at 6:00pm — No Comments

HUD Foreclosed Should you Buy or Rent? Tips to Help - USN

That age-old question is coming up again: rent versus buy? The foreclosure market has been growing considerably in recent years, as the rate of default and supply has increased, causing housing prices to fall. If you have good credit and a reasonable down payment saved up, you might be asking yourself if you should buy. The American Bankers Association offers a few tips to help. Money and Business June 18, 2008
The American Bankers Association suggests that consumers ask themselves
… Continue

Added by HUD Foreclosed on June 27, 2008 at 6:30pm — No Comments

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