Category Archives for "REO/Foreclosures"

News and information relating to REO’s/Foreclosures

Homeowners of distressed properties may have some relief in sight

“Treasury is currently reviewing a proposal to aid distressed homeowners by allowing a short sale of mortgage notes from mortgage-backed securities (MBS) trusts to new investors.” (DSNews.com) Jordan D. Dorchuck of American Home Mortgage Servicing, Inc. developed the proposal in hopes of making the lives of distressed homeowners much easier with the use of principal […]

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Talking Short Sales with The Mecklenburg Times

About a week ago, The Mecklenburg Times turned its focus from the devastation of homeowners in today’s market, to the success of the real estate agents behind the scenes, working their hardest to sell these homes and get their clients the best deals out there. Click on the article below to continue reading. 

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Prospect Mortgage Makes Homebuying Easier

Prospect Mortgage has recently come out with the HomePath Renovation Mortgage. This mortgage is beneficial to those who are interested in purchasing a foreclosure, because as foreclosure sales increase, so does the demand for renovation loans. This mortgage offers up to $35,000 in non-structural repairs and a low interest-rate, making the homebuying process much more […]

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Forclosures in N.C. becoming less frequent

The foreclosure count in North Carolina has dropped 38% in the last year and 3.5% since April. Here is an exerpt from Charlotte Business Journal’s article: N.C. foreclosures down 38% year-over-year “Some 2,689 homes in North Carolina were in foreclosure proceedings in May, or one in every 1,584 households, according to RealtyTrac Inc.  The state ranks […]

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