Rochelle Allison Real Estate Team
Buy, Invest and Sell with Rochelle
Freddie Mac (OTC: FMCC) today announced it is streamlining its policies and processes so all Freddie Mac servicers can approve short sales for borrowers facing sudden financial stress due to divorce, death, disability or other common hardships on their own authority. Additional changes will also make it easier for servicers to process short sales for [...]
Consumers who want their foreclosure cases checked by a third party as part of federal regulators’ Independent Foreclosure Review initiative now have until July 31, 2012, to submit their requests. The Federal Reserve and the Office of the Comptroller of the Currency (OCC) announced Wednesday that the deadline has been pushed out by three months to give consumers more [...]
Veterans Affairs mortgage program avoids the pitfalls of other lenders! By Kenneth R. Harney, The Washington Post Imagine a mortgage program that seems to defy many of the lessons of the housing bust: • 91 percent of its borrowers make zero down payments. • Loan amounts go well into the jumbo range — to $1 [...]
May 11, 2011 End of Comparison to Heightened Spring 2010 Tax Incentive Market Draws Nigh Pending sales in the 13-county Twin Cities metropolitan area were down 25.8 percent to 4,289 from April 2010′s incentive market high of 5,781. The overall median sales price dropped 14.6 percent to $145,000. Sellers introduced 7,279 new properties to the [...]
The 5 Most Common Complaints of Short Sale and REO Buyers (and How to Avoid Them) Roughly forty percent of the homes for sale on today’s market are short sales and foreclosures! Distressed properties are well known for their value (a reputation which is sometimes accurate, and sometimes not), but they also have a reputation [...]
What is Foreclosure? Foreclosure is a process that allows a lender to recover the amount owed on a defaulted loan by selling or taking ownership (repossession) of the property securing the loan. The foreclosure process begins when a borrower/owner defaults on loan payments (usually mortgage payments) and the lender files a public default notice. The [...]
5 Mortgage and Foreclosure Myths In a mortgage market that changes as quickly as this one, today’s fact is tomorrow’s fiction. For buyers, misinformation can be the difference between qualifying for a home loan or not. Sellers and owners, knowledge is foreclosure-preventing, smart decision-making power! Without further ado, let’s correct some common mortgage misconceptions. [...]
Saint Paul Named One of Dozen Distinctive Destinations Last week Saint Paul was named one of a Dozen Distinctive Destinations by the National Trust for Historic Preservation. Here is the YouTube video of the announcement: http://www.youtube.com/watch?v=M_p9y0okgw8. Cities on the list of 12 demonstrated a commitment to historic preservation and fostered a “unique sense of place”. [...]
January Home Sales Highest Since ’07, Prices Decrease from Last Year St. Paul, Minnesota – February 11, 2011 Home Sales were up in January 10.4 percent from a year ago and were the highest January total in the Twin Cities since 2007. “We’ve had back-to-back months where sales have outpaced our expectations,” said Jennifer Snyder, [...]
The Department of Veteran Affairs (VA) has instructed mortgages to pay relocation assistance to borrowers completing short sale or deeds-in-lieu (DIL) of foreclosure on VA Loans. It has been a venerable policy encouraging servicers to work hand in hand with veteran borrowers to give them options to help them retain their homes or if not [...]
