9.3 Million Pay Over 50% Of Income To Mortgage

Posted on July 4th, 2011 in Financing, Market Conditions, Short Selling/Buying.

Cost burden …. The Great Recession has exacerbated the housing affordability challenges that had been building for a half-century, according to researchers at the Joint Center for Housing Studies of Harvard University. The Center says its last measure of home-cost challenges showed that 9.3 million homeowners paid more than half their income on their mortgage […]

One Third Of Buyers Can Afford A Loan But Can’t Get One

Posted on October 10th, 2010 in All Articles, Financing.

Did you know why one third of Americans can’t buy a home? No its not always a down payment issue.  Many people have fifteen to twenty percent down but can’t get a lender to call them back. No it also is not that one third don’t have the income ratio to buy something they can […]

Why you should push for a loan mod payment you can afford

Posted on September 9th, 2010 in Financing, Market Conditions, Other Real Estate, Short Selling/Buying.

Chicago IL – There is a hidden secret in the foreclosure business. Many lenders are rejecting their borrower’s loan mod attempt. Then, they foreclose the house and sell it bank owned. However, they lose more money from foreclosure versus if they had accepted the loan mod. Let me explain. Discover how other sellers successfully did […]

Chicago Short Sales: How to get your short sale offer approved

Posted on September 7th, 2010 in Financing, Market Conditions, Other Real Estate, Short Selling/Buying.

Chicago IL – Buyers often get frustrated with the short sale process. “I made an offer on a short sale property six months ago. How come I haven’t received an answer yet?”, they ask us. It is fairly simple to determine if a short sale offer will be approved. Discover how other sellers successfully did […]

Another strategy to remove collections from your credit report

Posted on September 3rd, 2010 in Financing, Market Conditions, Other Real Estate, Short Selling/Buying.

Chicago IL – Many people think that you can’t remove a collection or blemish on your credit, if it is with the original creditor. “I originally borrowed the money from Easy Capital. I’m sure they have everything in my file. I can’t dispute with them”, they say. Actually you can and many people do it […]

This Sucks. Bad July Numbers. Seller’s Feeling It.

Posted on September 2nd, 2010 in All Articles, Financing, Market Conditions, Short Selling/Buying.

Ok… It’s settling in. We have all heard the reports that unemployment might… just MIGHT get back down to 8.5% before the 2014 Presidential elections. Wow.. that’s grim. And when someone asks me when housing is turning around… the prevailing truth there for them … without me answering is that it’s gonna be awhile. The […]

Chicago Short Sales: Should you be embarrassed to short sale?

Posted on September 1st, 2010 in Financing, Market Conditions, Other Real Estate, Short Selling/Buying.

Chicago IL – Many people are embarrassed that they are short selling their house. They feel like they are somehow being dishonest or shady. Neither one of those is true. A lot of the people short selling today never had a blemish in their credit. They lived perfect, responsible financial lives. Then the real estate […]

Chicago Short Sales: Can I short sale if I have more than one mortgage?

Posted on August 30th, 2010 in Financing, Market Conditions, Other Real Estate, Short Selling/Buying.

Chicago IL – Many agents run into problems with short sales that have more than one mortgage. For example, we had a short sale with a first mortgage, a second mortgage, and a third lien. The third lien was an old credit card judgment. It had to be paid off to sell the house. Here […]

Chicago Short Sales: Why do short sale negotiators break the rules?

Posted on August 27th, 2010 in Financing, Market Conditions, Other Real Estate, Short Selling/Buying.

Chicago IL – I had a negotiator at one of the largest lenders in the US try to push me around last week. I’ve spent the last 12 months figuring out all the rules for different loan owners, or insurers. I’m talking about FHA, VA, Fannie Mae, Freddie Mac, and “sliced and diced.” You see, […]

Chicago Short Sales: How to Dispute a Negative Item on Your Credit

Posted on August 26th, 2010 in All Articles, Financing, Short Selling/Buying.

Chicago IL – You can dispute negative items on your credit. In some cases, the negative item can go away in 30-60 days. This doesn’t always happen, but it’s nice when it does. This may seem overwhelming at first. But stick with it and you’ll see that it does work. With a little persistence, most […]

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