There was a time when a price reduction tainted a listing. That was several years ago when listings in many areas sold quickly. At that time, it was assumed that something was wrong with a listing if it needed a price reduction. In today’s market, price reductions are common. Sometimes, sellers aren’t content with listing […]
Category Archives: General Information
Condos Face FHA Deadlines
An estimated 2,200 condominium projects nationwide last week lost their eligibility for Federal Housing Administration-guaranteed sales and refinancing. Unless condo officials take action, another 23,000 residential condos with housing units numbering in the tens of thousands will lose their eligibility by spring. That means that buyers of units in these buildings won™t be eligible for […]
PNC Short Sale
PNC Mortgage / National City Short Sales – Getting Started The first step to initiating a short sale with PNC Mortgage / National City is to list the home with a Realtor who specializes in short sales and has significant experience with this lender. Your agent will be critical to the success of your transaction and […]
Citi Mortgage / Financial Short Sale
Citi Mortgage / Citi Financial Short Sales – Getting Started The first step to initiating a short sale with Citi Mortgage / Citi Financial is to list the home with a Realtor who specializes in short sales and has significant experience with this lender. Your agent will be critical to the success of your transaction […]
JP Morgan Chase – Short Sale
Chase / EMC / WAMU Short Sales If one company™s short sale process has changed more than any other it would be Chase. Chase™s short sale process hasn™t changed so much in terms of administrative process, but more from a corporate stand point. You see, after Chase acquired Washington Mutual their primary task seemed to […]
7 Things Borrowers Should Know About FHA Loans
Below our readers will find a list of facts speaking to the top misconceptions associated with FHA loans in order to help home buyers better navigate an already confusing market. FHA loans are mortgages issued by qualified lenders and insured by the Federal Housing Administration (FHA). We have seen home buyer interest in FHA loans […]
Local Foreclosure Listings
Real estate owned or REO is a class of property owned by a lender, typically a bank, and most commonly acquired after an unsuccessful sale at a foreclosure auction. This is common because most of the properties up for sale at these auctions are worth less than the total amount owed to the bank (negative […]
Deficiency Judgments
What is a Deficiency Judgment Deficiency judgments are court orders that make you personally liable for unpaid debt. They are often associated with foreclosures (and less often times short sale), when a home’s selling price is not enough to cover the loan balance. Let’s take a closer look at what deficiency judgments are, and if […]
Recourse vs. Non-Recourse Loans
Recourse loans are loans that permit the lender to come after you in case you default on the loan. You can contrast recourse loans with non-recourse loans, which create more risk for lenders. Let’s take a look at recourse loans, how they work, and how to identify them. Recourse Loans – The Recourse Recourse loans […]
Ackerly Park Hosting 2010 BIA Parade of Homes
One of New Albany’s newest communities will play host to the 2010 Building Industry Association’s Parade of Homes. Eight Central Ohio builders are committed to this year™s BIA event, which runs July 9-25 at Ackerly Park. The BIA has previously hosted three Parades in New Albany, including the 1991 Parade, which premiered the very first […]
