Legality of Thousands of Mortgages Thrown Into Question!

Robo-signing has been around a lot longer than originally thought, and could jeopardize the legality over the deeds of tens of thousands of homes dating back more than a decade ago, the Associated Press (AP) reports.

County officials across the country are finding mortgage paperwork that were improperly notarized or signed without proper review, dating as far back as 1998, the AP has found in its analysis.

For example, in Guilford County, N.C., about 74 percent of 6,100 mortgage documents filed since 2006 were found to have questionable signatures. 

Buyers Better Hurry…..Rates Reach New Lows!!!

Here’s a closer look at mortgage rates:

Foreclosures…..Is the Worst Behind Us?

Last year was a rather volatile one for the economy. While the economy did improve, unemployment remained at elevated levels. Housing affordability was at record levels and mortgage rates extremely favorable for homebuying – but even some qualified borrowers had challenges in obtaining mortgages. Inflation remained tame, but consumer confidence still struggled to improve.

2010 was a volatile year for foreclosures as well. Last year around this time we examined the question of shadow inventory. We noted then that shadow inventory could be defined in a number of ways. Some consider all loans with at least one missed payment as part of shadow inventory while others account for cures through modifications and short sales in determining shadow inventory. In terms of foreclosures, things appeared quite dismal last March. So, is the worst behind us?

Negotiate your best house buy!

Real Estate & Inflation!

Greetings folks, awhile back I wrote a blog that featured John Paulson and his rationale for taking the plunge back into the housing market.  Paulson cites inflation as the precipitator for his logic.  Well to be honest, most thought he was delusional.  But there may be more to this chaotic thinking than we had anticipated.  However, I can assure you of one thing….inflation is not the only reason to risk heading back into housing market.  Let’s examine this concept further. 

“Now is a Great Time to Buy a home?”

Happy New Year everyone!!!  Wow, what a year 2010 turned out to be!  Yeah with a lagging and slow recovering economy the passing of 2010 for some people was a cheerful sight.  But for others, it proved to be a year full of promise and unlimited potential. 

 

Short Sale Act of 2010 Introduced To Expedite Short Sale Requests!

Hey folks….given the state of the economy it’s no surprise that many of us have a home that is underwater and a mortgage that exceeds the value of the home.  An option for many distressed homeowners in that situation has been the utilization of the short sale.  This process requires lender approval but provides an option for homeowners to sell their homes for less that what is owned to the lender. 

Housing Recovery on the Horizon?

Hey folks you know just the other day I was at the office and I could not help but over hear another agent battling with a bank to replace an incompetent…okay inept bank representative assigned to the short sale he was working.  After his called ended we engaged in some interesting dialogue that resulting in him showing me a email reply that he had received from that same bank. 

Without mentioning the bank, the email basically stated that the bank in the determination of the current market value of the property did not consider or utilize any foreclosures.  In fact the bank went on to say that while foreclosures are prevalent in the marketplace they are not significant enough to essentially impact or be the driving force of sales in the marketplace. 

Main Street to get Bailout?

Okay folks by a show of hands, “How many of us believed that the bailout of wall street helped stop another great depression?”  Hmmmm…..That’s what I thought!  Well, regardless of what your or my opinion may be on the bailout or the current administration and its policies….what about the notion of a bailout for main street?  No I’m not kidding!  Really? 

Check out this article from James Pethokoukis with Reuters:

Fayette County Deadline for Property Assessment Appeals is June 17th!

Hey Fayette County…a very important deadline is approaching quickly!  Property Assessment notices were sent out on or about May 3rd to all property owners in Fayette county by the Fayette County Board of Assessors.  It is their job to provide the fair and uniform appraisal of your property for the specific purpose of determining your proportionate share of taxes.  

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