HOPE NOW Reports 38,000 Short Sales in May
HOPE NOW Reports 38,000 Short Sales in May
By Tory Barringer, DSNews, July 9, 2012
HOPE NOW released its May loan modification data Monday, revealing that the month saw nearly 38,000 completed short sales.
Why Home Equity Lines Of Credit Are A Foreclosure Menace
By Peter Miller, Guest Columnist, July 9, 2012
In the next few years a new mortgage threat will arise, one that’s destined to create large numbers of short sales, foreclosures and REOs. According to a new report by the Office of the Comptroller of the Currency (OCC), banks today hold home equity lines of credit (HELOCs) with a total outstanding balance of $11 billion. By 2018, that balance is expected to reach $111 billion, a balance that will mean big problems for many borrowers — and lenders.
7 Best Banks for (Short) Short Sale Bargains
By RealtyTrac Staff, July 10, 2012
The process of buying a short sale and the discounts available can vary widely based on the lender/servicer/investor involved in approving the sale. Here are the 7 best banks for short sale bargains.