Forbearance programs for federally backed mortgages are rapidly coming to an end, but the National Association of Realtors has said its research shows that there won’t be a glut of foreclosed homes hitting the market, as some had warned. The national forbearance moratorium will end on July 31, but most homeowners are expected to end
Investors wait to capitalize on pandemic-related foreclosures
September 25, 2020 by
Investors are rubbing their hands with glee at the prospect of a surge in repossessed homes as millions of homeowners are believed to have fallen behind on their mortgage repayments, putting them at risk of losing their homes once moratoriums end. The Wall Street Journal says that investors are expecting a “potential bonanza” of distressed
Foreclosures remain low as moratoriums stay in place
August 18, 2020 by
Foreclosure activity in the U.S. remains low due to the continuation of moratoriums ordered by federal and state governments in the early stages of the coronavirus pandemic, even as mortgage delinquencies rise. “It’s inevitable that there will be a significant increase in foreclosures once these moratoriums have expired, although it’s unlikely that we’ll see default
How and When to Buy Foreclosure Property
July 27, 2020 by
This article might be premature because across most of the country home sales continue happening rapidly. Still, investors are looking at the current economic situation and anticipating that a spike in foreclosures is on the horizon. Many of these will be new investors that don’t have experience with pre-foreclosures, foreclosures, and short sales that occurred
FHFA extends moratorium on foreclosures and evictions
May 18, 2020 by
The moratorium on foreclosures and evictions for Fannie Mae and Freddie Mac-sponsored mortgages has been extended until at least June 30, according to the Federal Housing Finance Agency. The FHFA said the moratorium, originally set to expire May 17, has been extended as the U.S. continues to suffer from the economic consequences of the COVID-19
Short Sales: What Buyers Need to Know
March 30, 2020 by
Buyers looking for a bargain often ask their agents about short sales and foreclosures, hoping to get a property at bargain pricing. But when they don’t educate themselves about these types of properties, some buyers find themselves in for more than they bargained for. What is a short sale?A short sale gets its name because
Trump announces moratorium on foreclosures due to coronavirus
March 20, 2020 by
U.S. President Donald Trump announced Wednesday a full moratorium on foreclosures for homeowners with mortgages backed by Fannie Mae, Freddie Mac and the Federal Housing Administration. The Department of Housing and Urban Development has also provided help, saying it will suspend all evictions of public housing residents. It’s said that FHA loans and public housing
How to Buy a Pre-Foreclosure
December 11, 2018 by
Whether a market is a buyer’s market, seller’s market, or balanced market there are always foreclosures available, And where there are foreclosures there are pre-foreclosures. But first, you need to understand the differences between pre-foreclosures, foreclosures, and real estate owned by the lender (REO). The actual foreclosure is a very short process that typically takes
Many housing markets haven’t bounced back from the last major crash
November 9, 2018 by
In the decade since the housing bust, median home values have more than recovered in most of the nation’s largest markets. But within nearly all those major markets there remains inequity — neighborhoods that were hit hardest by the crisis continue to bear an outsized burden even through the recovery. A new Zillow report shows
Buying a foreclosure as your first home?
October 9, 2018 by
Let me start by saying that considering any money saving options when purchasing a home is smart. I would always advise that first time buyers do plenty of research before settling on buying a foreclosure. Buying a foreclosed home may seem like a great deal at first glance. After all, how could an incredibly low
