insert-headers-and-footers domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/internetpages/srec.internetpages.net/wp-includes/functions.php on line 6170oxygen domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/internetpages/srec.internetpages.net/wp-includes/functions.php on line 6170Although the inventory of new homes on the market remained at near record lows last month, home prices rose to their highest level in five years. The current inventory would take 4.5 months to clear, mirroring July’s data. The median price of a home rose by over 11% to $256,000, a point not seen since […]
Great news for real estate investors who focus on short sales – they are on the rise again. Banks are turning to short sales more and more so they can get around the long process of seizing, maintaining and then trying to sell homes through foreclosure. The pace of new foreclosures has slowed slightly, but […]
In northeast Ohio, the office of Cuyahoga county (which contains Cleveland) prosecutor Bill Mason is suing Freddie Mac and the Federal Housing Finance Agency for $1.1 million in unpaid real estate transfer taxes. This is one of eight identical suits filed across the country. Mason claims in court documents that, “Freddie Mac’s failure to pay the […]
Buying HUD properties is a simple, fast way to make consistent profits – quickly putting thousands of dollars in your pocket over and over again. Before we find out some of the tips to working with HUD properties, let’s define what a HUD property is. A HUD property is one that used to have an […]
There is another great housing foreclosure debate raging in governments – this time over the issue of eminent domain. Some local governments are throwing around the idea of condemning mortgages through eminent domain. It would work like this – a town or county “would seek court approval to pay a ‘fair market’ value to a […]
Mortgage closing costs can vary widely by state, according to a recent survey by Bankrate.com. The average closing costs on a mortgage fell by 7% to $3,754, with New York being the most expensive with a cost of nearly $5,500. On the other extreme is Missouri at $3,000. Interestingly, Ohio ranks #11 on the list, with […]
Late last year, banking regulators set out to put a price on foreclosure errors for victimized homeowners. It’s going to cost banks $125,000. Or maybe $15,000. Or perhaps just $500. Pretty clear, huh? How is the actual amount determined? The regulators finally released their “framework” of possible outcomes from 13 different mortgage servicing “errors.” Each of […]
While mortgage closing costs are on the decline, actual mortgage rates are on the increase. For the first time in over three months, the rate for a 30-year fixed rate mortgage rose to 3.55%, up from last week’s 3.49%. These are the lowest rates since the 1950’s, when long-term mortgages were first introduced. These historic low […]
Donald Mullen, former executive at Goldman Sachs is attempting to raise $500 million for a fund to buy foreclosures. The goal is to rent the homes. Mullen is one of the brains behind the subprime mortgage trade. He began marketing his Fundamental REO Access cause about a month ago, in some cases to some current […]
Investing in HUD houses is a great way to put steady profits in your pocket very quickly. Whether you’re looking for the quick nickel or the slow dime, HUD homes can be purchased for pennies on the dollar (and in some cases, the change in your pockets), leaving a huge margin for profit. HUD homes […]
