Hot Property

Foreclosure rescue scam reports increase

VIENNA, Va. – June 22, 2010 – The Financial Crimes Enforcement Network (FinCEN) released its first analysis of suspicious activity reports containing information about potential foreclosure rescue scams. The report, “Loan Modification and Foreclosure Rescue Scams – Evolving Trends and Patterns in Bank Secrecy Act Reporting,” analyzed more than 3,500 SARs filed from 2004 through [...]

New rules and program to Fast Track SHORT SALES.

In early 2009, the National Association of REALTORS® (NAR) urged the U.S. Treasury Department, the Federal Housing Finance Agency, Fannie Mae and Freddie Mac to improve the short sales process. NAR’s concerns were first addressed on May 14, 2009, when the Obama Administration announced the outline of a program to provide incentives and uniform procedures [...]

Building a case for Principal Reduction by Lenders for Homowners

“Defaults, foreclosures plummet in January. Analysts discern signs of stability.” So read the headline of my local paper. Signs of Stability? Really? Now what might those be? I saw the Virgin Mary on a piece of toast once so I know we tend to see what we want to see but my tea leaves aren’t [...]

Are principal reductions the answer for upside down homeowners?

NEW YORK – Feb. 15, 2010 – Real estate investors are coming to the same conclusion that housing activists reached at the beginning of the crisis – forgiving principal on underwater loans may be the best way to deal with the problem. “Principal reduction is the only answer,” says Laurie Goodman, a senior managing director [...]

Cease Foreclosures, move home loans in 60 days

State: Taylor, Bean, Whitaker must cease foreclosures, move home loans in 60 days TALLAHASSEE, Fla. – Aug. 24, 2009 – Florida’s Office of Financial Regulation took more action Friday against Ocala-based Taylor, Bean & Whitaker Mortgage Corp., ordering the company to cease foreclosures, late charges and adverse reports to credit bureaus about customers. It is [...]

Facing the Foreclosure Crisis

    Team Sumberg with Keller Williams Realty would like to announce the following broadcast event to the general public in the Tampa Bay area. Walter Walker, author and Director of Education and Counseling at Housing and Education Alliance, Inc. will be appearing on WEDUs Facing the Forclosure Crisis live on tomorrow night and the show [...]

Little Used FHA Program That Includes Repairs in the Mortgage

Team Sumberg and Keller Williams Realty is always striving to bring you the most up to date information for home ownership. You no longer have to totally eliminate houses that need a little work from your search for a home. If you are thinking about buying a Bank Owned, HUD, or short sale property that needs repair, [...]

Not for the faint of heart, Foreclosures are bringing new opportunities to the market.

Tampa Bay’s value-conscious, first-time buyers have become key to the housing market’s recovery, and they are snapping up priced-right foreclosures despite the warts-and-all, sold-as-is condition of the properties. Half of the sales made in the year’s first quarter were to first-time buyers and almost half of all these sales were distressed properties, the National Association [...]

3 Florida cities to get $28M from HUD, including Tampa

HUD GIVING $28M TO HELP 3 FLORIDA CITIES A federal agency is giving more than $28 million to three Florida communities that have been slammed by high foreclosures and dropping home values. The Department of Housing and Urban Development says the money can be used by state and local governments to buy and redevelop foreclosed [...]

FED urges Loan Servicers to take prompt action!

    FHFA URGES SERVICERS TO TAKE PROMPT ACTION ON LOAN MODIFICATIONS Washington, DC   – Federal Housing Finance Agency (FHFA) Director James B. Lockhart today urged loan servicers to support the new streamlined modification program (SMP) announced November 11 by FHFA, the U.S. Treasury Department, the Federal Housing Administration (FHA), Fannie Mae, Freddie Mac [...]