Market

Utah real estate market conditions and news.

Delays in Foreclosures Rise: Top States for Delays

Short Sale Homes and Help

On average, home owners in foreclosure can stay in their homes for over a year before they are evicted. In the first quarter of this year, the foreclosure process nationwide averaged 370 days to complete — that’s up from 348 days in the previous quarter and the lengthiest average since 2007, according to RealtyTrac. While [...]

BofA’s mortgage-to-lease program may become the new fad

Short Sale Homes and Help

People are watching with interest as Bank of America  ($9.23 0.03%) rolls out its mortgage-to-lease program. The appeal is obvious to consumers who get a chance to stay in their homes, but will this new program spark a new fad in the mortgage industry? Alex Matjanec, co-founder of MyBankTracker.com, said it might, but not just yet. “I think the natural thing [...]

February Foreclosure Activity Trends Down after January Surge

Short Sale Homes and Help

After a sharp increase in January, foreclosure starts and sales have reverse direction and resumed the steady decline they began in mid-fall.  The February Mortgage Monitor Report published by Lender Processing Servicers (LPS) showed foreclosure starts down 15 percent from January to 172,602, 15.4 percent lower than during the same period in 2011.  Foreclosure sales decreased 19 [...]

HSC Won’t Leave You “Out In The Cold”

Short Sale Homes and Help

A Roll Of The Dice Homeowners hoping the $26 billion foreclosure abuse settlement would mean big savings on their mortgages were mostly disappointed. Even though a million borrowers will have their principals slashed by as much as $100,000 or more, most are not eligible for a workout simply because the bank that issued their mortgages, didn’t hold their mortgages. [...]

Helpful Tips! How Much Can You Afford To Invest In A House

Short Sale Homes and Help

Here are the steps to figuring out how much you can afford to pay each month: Multiply your monthly gross income, before taxes and other expenses, by thirty-six percent (or 0.36). Add up all of your family’s fixed monthly debt expenses.  These include car payments, student loans, minimum credit card payments, or child support.  Do [...]

Homeowners Are Still HSC’s First Priority

Short Sale Homes and Help

Expanding its push to fill vacant homes, the Obama administration is giving mortgage aid to real-estate investors who bought multiple homes during the housing bubble. Having recently expanded its TARP-funded Home Affordable Modification Program, the administration will now extend the program to landlords for the first time. “Landlords can qualify for up to four federally-subsidized [...]

You Won’t Fall Victim To Faulty Foreclosure Practices With HSC

Short Sale Homes and Help

The Federal Reserve released documents showing how U.S. mortgage servicers pledged to overhaul faulty foreclosure practices that led to this month’s $25 billion settlement with state and federal authorities. Bank of America Corp. (BAC), Wells Fargo & Co. (WFC) and JPMorgan Chase & Co. (JPM) were among lenders that submitted the so-called action plans following [...]

No Fail Short Sale – Let HSC Do It For You

Short Sale Homes and Help

It’s been nearly a half decade since the housing market imploded like an old stadium packed with explosives and the ground is still rumbling from the impact. Realizing it’s better to recover some money now rather than trying to get all their cash back eventually, more banks are making it easier for homeowners to unload their houses [...]

Housing Market Expected To Rebound This Year

Short Sale Homes and Help

A study that involved thousands of ReMax real estate agents revealed that the housing market will start to recover in 2012, with an increase in sales and stabilizing home prices. The majority of Realtors surveyed believe that home prices will stay the same, or increase during 2012. However, the number of foreclosure (distressed) sales are [...]

Transforming Foreclosures to Rental Properties?

Short Sale Homes and Help

The US Treasury Department along with The Federal Housing Finance Agency and the U.S department of Housing and Urban Development (HUD) have been working on a new program that would transform foreclosed homes into rental properties. Details of the program are currently very limited, however a foreclosure rental program is expected to take shape sometime [...]