A MEGA short sale tsunami of epic proportions is on the horizon.  Five separate economic factors are all coming together at the same time to create the perfect short sale storm.  And this storm looks to be generating the greatest short sale opportunity of our lifetimes.  The following five surges are the backbone of this massive financial tidal wave [...]

The Department of the Treasury is just days away from announcing their new plans for short sales.  Obama’s  Housing Rescue Plan has focused primarily on loan modifications and with less than 12% of eligible borrowers recieving loan mods thus far, the current plan has been a dismal failure.  These disappointing results have forced Washington into looking at [...]

WASHINGTON, DC - Homeowners with high credit scores are 50% more likely to “strategically default” on their mortgage compared to their lower credit score counterparts, a study by Experian recently discovered.  In 2008 alone, more than 588,000 borrowers strategically defaulted on their mortgages, leaving lenders scrambling to make sense of this shocking new development.  Making [...]

MALIBU, CA - A Wells Fargo executive, Cheronda Guyton, allegedly moved into a $12 Million Wells Fargo REO foreclosure with her husband and two children.  Reports indicate that she even threw a huge party on the last weekend of August in this beachfront foreclosed home.  Guyton supposedly oversees Wells Fargo’s foreclosed commercial properties and it seems this Pacific [...]

NASHVILLE, TN - What I call “the WRONG way to do short sales,” is a practice that is gaining significant popularity as of late but could land those who do it in some major trouble.  I’m not usually one to be quite so negative and dramatic, but this is a serious matter.  Plus, I’ve even seen a few [...]

WASHINGTON, DC - A federal court ruled last week that Countrywide, formerly the largest mortgage company but now owned by Bank of America, must now have their Mortgage Backed Securities (MBS) Investor’s approval before issuing the terms of the loan modification to the borrower. Previously, Countrywide, along with many other lenders, assumed that because of the [...]

NASHVILLE, TN -  At 6AM on Saturday morning, with the sun just beginning to take flight over the horizon, while in the solitude of birds chirping, water bubbling and my fly rod swaying to and fro, it  dawned on me that closing short sales is much like fly fishing.  Unlike other types of fishing, fly fishing requires a number of details to be executed correctly in [...]

The Department of the Treasury is about to release a plan geared towards making the short sale process faster and easier.   Representatives from 25 major mortgage servicers were called to Washington, D.C., last month to discuss improvements to the current Obama administrations’s Housing Rescue Plan.  As you can probably guess, the Feds have more motivation to speed up and [...]

The associated press (AP) released an article today stating that foreclosures have risen 15% in the first half of 2009.  Even more striking is that experts don’t expect foreclosure to peak until the middle of 2010! 
Data clearly showed that despite the Obama administration’s plan to prevent foreclosures by handing out $50 Billion to the lending [...]

The Washington Post reported a timely article  Appraisers Blamed for Killing Market Recovery.  Though brief and simple, this article is one of the most real world and correctly reported stories of the year.  In the real world of real estate, appraisers hold the entire business in the palm of their hands.   And as this article suggests, [...]