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Undercover Investigation Reveals Possible Discriminatory Treatment of REO's by Lenders

Forty three years ago today, President Lyndon Baines Johnson signed into law the Civil Rights Act of 1968 which included Title VIII, the Fair Housing Act which, as described on HUD’s website, “prohibits discrimination in the sale, rental, and financing of dwellings, and in other housing-related transactions, based on race, color, national origin, religion,

Continue reading… Undercover Investigation Reveals Possible Discriminatory Treatment of REO’s by Lenders

Short sales up 268 percent from a year ago; Serious mortgage delinquencies up 147 percent for same period

Dennis Norman

By: Dennis Norman

Yesterday the Federal Housing Finance Agency (FHFA) released its foreclosure prevention report for July, 2009 for Freddie Mac and Fannie Mae loans. After reviewing the data in the report I would say if you are an agent that works REO’s and/or short sales, you are going to have a steady stream

Continue reading… Short sales up 268 percent from a year ago; Serious mortgage delinquencies up 147 percent for same period

A look at REO agents…for fun….

By: Dennis Norman

OK, I already know I’m going to aggravate a few agents out there, but it’s really not my intention.  I’m going to start out by saying that agents that list REO deals are victim’s of the system they are forced to operate in.  Whew, hopefully my CYA is done..

Having said that, at the end

Continue reading… A look at REO agents…for fun….

An FHA 203(k) loan may help your clients purchase foreclosures

Dennis Norman

By: Dennis Norman

According to a report issued by the Office of the Comptroller of the Currency (OCC) as of June 2009 there were nearly 2 million foreclosed homes.  Many of these foreclosed properties are still vacant and in need of repairs.  

Many buyers are seeing these foreclosed homes as an opportunity to buy a home

Continue reading… An FHA 203(k) loan may help your clients purchase foreclosures