Countdown to Buy, a Bethel, Connecticut based start-up real estate firm, has a few things to teach a St. Petersburg homes for sale real estate company in Florida about the way they do business with banks.
The Connecticut company has been running an online service for banks to list foreclosed property and every day the property that’s still on the market, it is automatically reduced by one percent.
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Filed Under (Business) by Kolleen on 06-10-2009
With the current housing market crisis, it’s now more important than ever that loan officer training take place in order to make sure that the bank and financial institution loan officers make mortgage loans to those families and individuals who can actually afford monthly mortgage payments.
For many years, banks and financial lending institutions were making mortgage loans to people who could not afford monthly mortgage payments and this is one of the reasons why the housing market crashed, leaving banks and financial institutions holding thousands of foreclosed properties and thousands of people living on the streets or with friends and family.
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Filed Under (Articles) by Kolleen on 30-04-2009
Since the housing market has become one of the major players in the recent economic downturn, many Internet news websites have been featuring stories on short sales of homes to help families avoid foreclosure. A short sale is when a financially in debt property holder is facing foreclosure sells their house for less or short than the value of their loan. The bank agrees to accept the short payment in full for the loan and the seller escapes foreclosure. Furthermore, the bank or the lender agrees not to report or disclose a foreclosure to the major credit bureaus.
A realty company which deals with Tampa short sale customers advises homeowners that they might consider a short sale if there is a death in the family, loss of a job, divorce, unexpected medical bills, they have a subprime loan or an adjustable mortgage rate loan, or there is a downward shift in the real estate market where they are unable to keep up with home repairs.
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