CAT | Bank Owned
2
An Outright Assualt on the Realtor Profession.
1 Comment · Posted by admin in Bank Owned, FSBO, Foreclosure, Home Sales Stats, Lead Generation, REO, Short Sales
We always try to stay on top of the news, trends, etc here at www.sellmyhouse.com. In doing our daily research of the goings on in the market we came across the following blog written from somebody who clearly thinks that Realtors are the absolute scum of the world and we created the entire Economic collapse.
Enjoy:
Please chime in!
www.SellMyHouse.com Staff Writter
Bank Owned · Foreclosures · Freddie Mac · Home Prices · housing market · sell my house · sellmyhouse.com · short sale
24
Freddie Mac in Serious Trouble
No comments · Posted by admin in Bank Owned, Foreclosure, Home Sales Stats, REO
How are these for statistics:
Last year Freddie lost almost $26 BILLION. Over the last 3 years that total is approaching $80 Billion. Almost 4% of loans on their books are at least 3 Months behind. Between Freddie and Fannie last year, they backed almost 70% of the new mortgages.
Freddie Mac warned there is “significant uncertainty as to whether or when we will emerge” from government control. “We now have unlimited taxpayer exposure to the bailout of Fannie and Freddie, a bailout nation where the big get bigger, the small get smaller and the taxpayer gets poorer,” Rep. Jeb Hensarling, R-Texas, said at a House hearing Wednesday.
Charles Haldeman, Freddie’s CEO warned today of a “potential large wave of foreclosures” still to come.
At www.sellmyhouse.com, the number of phone calls we get daily from people afraid of losing their house has gone up, not down. We worry that after this Spring season is over and the Tax Credit is gone, and the massive wave of foreclosures hit the market, and the job market keeps getting worse, and the…. and the…..we’ll have to pay the piper. And the payee this time is the Government. We’ve just put of the inevitable for a few more years and made everybody feel like all is well. Of course everybody does not include main street America. We’ve been paying the piper the entire time…guess where the Government gets their money!
Hold on..it’s not over yet! Our investor network is going to have a tremendous few years.
www.SellMyHouse.com Staff Writter
24
Hope For Those Working Short Sales?
No comments · Posted by admin in Bank Owned, Foreclosure, REO, Short Sales
It has been reported that actual short sale closings in January have started to move higher as a percentage of transactions.
Short sales accounted for 15.9% of home purchase transactions.
Damaged real estate owned or REO (13.4%)
Move-in ready REO (13.8%) – and represented a big jump for short sales.
Are these banks are beginning to catch on?
No tags
14
Always about the money – foreclosures
2 Comments · Posted by admin in Bank Owned, Foreclosure, REO, Short Sales
9
Short sale vs Foreclosure Loss Data
2 Comments · Posted by admin in Bank Owned, Foreclosure, REO, Short Sales
This data comes from an interview with Bank of America, Dave Sunlin, senior vice president for foreclosure and real estate management division.
The entire article is here:
http://www.bloomberg.com/apps/news?pid=20603037&sid=a_NoPFp0r8Y4
Cutting Losses
Losses on prime loans going through the foreclosure process averaged 49 percent versus 34 percent for a short sale as of Oct. 1, according to a Nov. 10 report by Laurie S. Goodman, senior managing director of Amherst Securities Group LP. For subprime loans, losses averaged 73 percent for a foreclosure compared with 59 percent for a short sale, Amherst reported.
“The loss severity of short sales is lower but it’s not low,” Goodman said.
