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Dennis Norman A report just released by CoreLogic estimate the financial impact of short-sale fraud to be $310 million annually. It is estimated there is fraud in one in every 53 short sale transactions resulting in an unnecessary loss to the lender of $41,000 per transaction on average. Tweet This Post
Dennis Norman Average discount on Foreclosure and Bank-Owned Homes is 27 Percent This morning RealtyTrac released a report stating that 31 percent of all residential sales in the first quarter of 2010 were foreclosure homes or bank-owned homes. They are reporting 233,000 foreclosure and bank-owned homes sold during first quarter 2010 at an average price [...]
Dennis Norman I don’t think I need to tell real estate investors about the record foreclosure rates we have seen as well as the unprecedented number of people that are struggling to make their house payments. As a result, there are many good opportunities out there for real estate investors to acquire property at good [...] UPDATE- June 2, 2010: The National Association of REALTORS obtained answers from the Treasury Department on 3 common questions about HAFA: agents are not permitted to rebate a portion of their commission to the buyer, Dennis Norman Back in early December I did a post on a different blog about a new program that was announced in November, the Home Affordable Foreclosures Alternative (HAFA) Program which is scheduled to go into effect April 5, 2010. HAFA is a program to help provide alternatives to homeowners that are facing foreclosure. The [...] |
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