Many homeowners negatively impacted by the financial crisis may now, all these years later, finally be in a position to qualify for a mortgage again! These 700,000 potential 2015 reentrants into the mortgage and housing markets are known by the name ‘Boomerang Buyers’. Boomerang buyers were impacted by the financial crisis in one of these three ways: They were […]
Follow @Hallmark Abstract Service What happens if the debt forgiveness in a short sale becomes ordinary income? If the difference between the short sale price and the amount that is owed on the mortgage ever became ordinary income for the already strapped homeowner, short sale activity will grind to a halt. This is a scenario that could potentially […]
Follow @Hallmark Abstract Service Note: If you are a Realtor, recent buyer of real estate or a prospective buyer, please feel free to leave your thoughts and recommendations in the Comments section of the article along with your contact information and a link to your website if you so desire. Back in February Hallmark Abstract […]
Follow @Hallmark Abstract Service A Zombie Foreclosure is simply a house currently in the foreclosure process that sits vacant having been abandoned by the owner and not yet taken back by the lender! Most of us have driven by homes we suspect are long-abandoned, are being foreclosed, that typically will be neglected, have very possibly […]
Why Title Insurance Is Vital For A Homebuyer! Today more than ever, consumers are reminded that in order to have peace of mind, they should purchase an owner’s title insurance policy whenever they buy a home. This is especially true when buying a property that has been foreclosed. Anyone who purchased an owner’s title insurance […]
Is there a loophole in the federal settlement with mortgage servicers that could spell trouble for the lenders holding second mortgages in distressed property? An article from The New York Times titled ‘The Second-Mortgage Shell Game‘ talks about the problem: “IN January, federal regulators announced an $8.5 billion agreement with 10 mortgage servicers to settle claims […]
