2010 | The REO & Foreclosure Specialist

REO Foreclosure: Amityville, NY

23. July 2010

REO Foreclosure: Amityville, NY Home will be sold as is since it is a REO. THIS means you are getting a great deal! This is the opportunity to restore a home in a great location. The street is lined with trees. With lot of property space. Home as a new roof and is an open […]

REO Foreclosure: Brentwood, NY

23. July 2010

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REO Foreclosure: Brentwood, NY This is a bank owned home, that means you will get the deal of the year! This is a very large ranch with a lot of room, large back yard. Get a great new property NOW! Talk to one of our talented and wonderful agents today! For more information about this […]

REO Foreclosure: Hempstead, NY

23. July 2010

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REO Foreclosure: Hempstead, NY THIS REO property is one of the best deals in Hempstead. This great cape has 4 bedrooms 1 bath in a quiet neighborhood. Call today b/c it wont last! Get a great new property NOW! Talk to one of our talented and wonderful agents today! For more information about this property […]

Dodd-Frank Legislation Extends Protecting Tenants at Foreclosure Act

23. July 2010

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By: Carrie Bay Renters who find themselves indirect victims of foreclosure were not forgotten in the financial reform legislation signed by President Obama on Wednesday. The Dodd-Frank Wall Street Reform and Consumer Protections Act will extend the Protecting Tenants at Foreclosure Act (PTFA) through the end of 2014. PFTA provides renters whose landlords have lost […]

Barclays Argues Treasury Report on HAMP Redefaults is Misleading

22. July 2010

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By: Carrie Bay Earlier this week, the Treasury Department released its monthly progress report on the government’s Home Affordable Modification Program (HAMP). Included in the Treasury’s latest installment is a new section detailing the performance of loans permanently modified through the HAMP initiative. In commentary published Wednesday, analysts at the research firm Barclays Capital took […]

4 Bedroom REO great Price!, Port Washington, NY

21. July 2010

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4BR/2+1BA Single Family House offered at $550,000 Turn of the century opportunity unique colonial style, very private walk everywhere. Bays views from second floor. Walk to village have dinner and drink and walk home. (Maybe icecream if that what your into.) Get a great new property NOW! Talk to one of our talented and […]

Condo rental. Cosmo Living, great location close to all great, Wantaugh, NY

21. July 2010

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2BR/2+1BA Condo $2,200/month Two story condo living in the best community in long island. full eat in Kit. Dinning area, Large living room area with sliders to deck. to large bedrooms on second level each with own bathroom. Masterbedroom has slider to deck, master bath/, and 2 walk in closets, Plenty Storage closets, washer, […]

FDIC Sells Pool of AmTrust Nonperformers for 37 Cents on the Dollar

21. July 2010

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By: Carrie Bay A three-party consortium of opportunists has purchased a stake in an $898 million pool of nonperforming residential loans that the FDIC seized from AmTrust Bank when it went under last December. The procurers – which include mortgage servicer Residential Credit Solutions, hedge fund CarVal Investors, and the Royal Bank of Scotland’s RBS […]

Goldman Sachs Pays $550M to Settle SEC Fraud Suit

20. July 2010

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By: Carrie Bay Goldman Sachs & Co. has agreed to pay more than half a billion dollars to settle federal charges that the Wall Street broker-dealer misled investors to sink money into a product backed by dicey subprime mortgages just as the housing market was beginning to collapse. In a civil suit brought by the […]

Mortgage Rates Mostly Flat This Week, Still Lingering Near Record Lows

19. July 2010

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By: Brittany Dunn Very little activity was seen in the realm of mortgage rates this week, as the historical lows observed in weeks past held fairly steady, Freddie Mac and Bankrate reported Thursday. According to Freddie Mac’s weekly survey, 30-year fixed-rate mortgages averaged 4.57 percent with an average 0.7 point for the week ending July […]

Banks Repossess 4,000 South Florida Homes Per Month

16. July 2010

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By: Carrie Bay Banks took back an average of 4,000 South Florida properties each month during the first half of 2010, according to a new report from the locally based real estate consultancy Condo Vultures LLC. The region’s repos represent an 83 percent year-over-year increase for the tri-county area of Miami-Dade, Broward, and Palm Beach. […]

Hudson & Marshall to Auction Nearly 250 Foreclosed Homes This Week

14. July 2010

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By: Brittany Dunn In an effort to give investors and first-time homebuyers an opportunity to purchase a variety of homes at significant discounts, Hudson & Marshall of Texas, Inc., (H&M) is auctioning nearly 250 bank-owned homes this week in cities throughout Indiana, Illinois, Minnesota, and Wisconsin. “Foreclosures remain in high demand among buyers looking for […]

HUD to Sell REO Properties at Discounted Rates to NSP Grantees

13. July 2010

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By: Brittany Dunn A new initiative announced Monday by HUD will give state and local governments and nonprofit organizations participating in the department’s Neighborhood Stabilization Program (NSP) preference to acquire homes from its inventory of foreclosed properties at discounted rates. Touted as the “First Look” initiative, this temporary program will align NSP and Federal Housing […]

Cleveland Fed Examines Link Between Foreclosure and Unemployment

12. July 2010

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By: Rachel Daniels According to an article released by the Federal Reserve Bank of Cleveland this week, much can be gleamed by studying the historic link between foreclosure and unemployment rates—including the fact that according to past patterns, we can expect the current high foreclosure rate to persist for some time. The article abstract., penned […]

30-Year Fixed-Rate Mortgages Hit New Record Low

9. July 2010

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By: Brittany Dunn The weekly mortgage rate reports released Thursday by Freddie Mac and Bankrate were mixed. But one thing was certain: the average rate for 30-year fixed-rate mortgages hit a new record low. According to Freddie Mac’s Primary Mortgage Market Survey, 30-year fixed-rate mortgages averaged 4.57 percent with an average 0.7 point for the […]

Archive | 2010