Starting in June, licensed mortgage servicers will be required to stop foreclosure efforts if they receive a request to do so by the homeowner in foreclosure. The North Carolina Office of the Commissioner of Banks (NCCOB) believes that this will help prevent foreclosures that occur while banks and homeowners are in the midst of negotiations over loan modifications and foreclosure Read full article »
Tag archives for Pre Foreclosure
New Mortgage Rules in North Carolina Designed to Prevent “Unnecessary” Foreclosures
category: Real Estate News
tags: Bank Mortgage, Commissioner Of Banks, Estimates, Foreclosed Properties, Foreclosure Cases, Foreclosure Prevention, Foreclosure Proceedings, Foreclosures, Great Potential, Licensed Mortgage, Loans, Local Banks, Midst, Mortgage Servicers, Nccob, Negotiations, New Mortgage, North Carolina Office, North Caroline, Pre Foreclosure, Timeline, Timely Fashion
Agents Listing Short Sales Work Around Bank Negotiations
In Nevada, real estate agents are reporting that they are streamlining the short sale process by listing properties on MLS far below market price to elicit multiple offers. They believe that this streamlines the negotiation process with the bank or other lending entity because it gives them many different offers to work with and heightens the homeowner’s odds of getting Read full article »
category: Real Estate News
The Role Of Compassion In Real Estate Investing
On Friday, I posted an article about unemployment among tenants, and how to preemptively address the huge difficulty that brings for landlords. And as always, the best thing about this blog was not the article I posted, but the comments you left. There was a vigorous discussion among a number of experienced landlords versus a couple of people who felt that Read full article »
category: Uncategorized
Real Estate Investors Damaged By New Housing Rescue Plan
The new Housing Rescue Plan legislation has a component that I believe will be particularly damaging to real estate investors. It appears that under the new law, many home owners facing foreclosure will have the option to negotiate a short sale with their current lender, and the government (through Fannie Mae, Freddie Mac and FHA) will offer financing for Read full article »
category: Main Content, Real Estate News
tags: Avoid Foreclosure, Conflicting Reports, Correct Result, Cutting, Facing Foreclosure, Fannie Mae, Fha, Fha Financing, Freddie Mac, Freedom, Government Funds, Investor, Legal Interest, Legislation, Many Home Owners, Negative Ramifications, Pre Foreclosure, Private Property, Questionable Value, Real Estate Investors, Two Ways, Vast Number
The Politics of Real Estate
Few industries are as profoundly impacted by the political machinations in Washington as the real estate industry. Whether it's old legislation like Jimmy Carter's Community Reinvestment Act or Barack Obama's massive mortgage bailouts, the U.S. political machine has a huge impact (usually bad) on the business of real estate.
Ideally, we could ignore politics. But here at the Bryan Ellis Real Estate Letter, we insist on seeing the world with clarity - including the reality of Washington's aggressive involvement in every facet of our business, from mortgage lending to real estate sales license; from loan modification regulations to appraisal requirements... every piece of our business is profoundly impacted by politics. So rather than stick our heads in the sand and ignore reality, readers of the Bryan Ellis Real Estate Letter choose to be informed and prepared.
Mortgage Industry News
Few things change more rapidly than the mortgage market, and with the increasing dominance of GSE's Fannie Mae and Freddie Mac over the mortgage business, it's more important than ever to keep up. Here are a few recent mortgage news updates:
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Mortgage News
- HAMP Success Tally Slowly Growing
- Western States Working Through Foreclosure Backlog Quicker than Eastern
- Biggest Down Payments in the Country Found in New Jersey
- President Bypasses Congress, Appoints Director of the Consumer Protection Bureau
- Federal Reserve Recommends Expanding GSEs to Turn Housing Market Around
- Mortgage Rates Likely to Remain Low for a While Longer
- Top Former FDIC, Wells Fargo Execs Say Fannie and Freddie Must Go
- FHA Continues to Extend Anti-Flipping Waiver
- More Homeowners Using Delaying Tactics to Slow Down Foreclosures
- Now that It’s Passed: The True Cost of the Payroll Tax Cut
About Bryan Ellis
Bryan Ellis is an Atlanta-based real estate analyst and publisher of the widely read newsletter "The Bryan Ellis Real Estate Letter". With over 200,000 subscribers - including real estate investors, agents, brokers, appraisers and other real estate professionals - the Bryan Ellis Real Estate Letter is among America's largest sources of unbiased coverage of politics and public policy for the real estate industry.
Bryan Ellis serves as editor in chief for the Bryan Ellis Real Estate Letter and is assisted by an extraordinary staff of writers, researchers and editors who are each real estate experts in their own right and who assure that the news we report is well researched, factual, and highly relevant to today's real estate industry.
Bryan is very happily married and has two wonderful daughters. He makes his home in the suburbs of Atlanta, Georgia. You can contact the team at the Bryan Ellis Real Estate Letter here.
Bryan Ellis Reviews
Here are a few of the totally UNSOLICITED comments that people have made about me (Bryan Ellis). Thank you so much for your kind words - and I always welcome your feedback. Thank you! Here's one sample Bryan Ellis Review that just came in: Bryan, I would like to take a moment to say “Thank You” for your willingness to Read full article »