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Short Sales

FTC No Longer Enforcing Parts of MARS

by Tayeb Realty GroupJuly 18, 2011 Foreclosures

The Federal Trade Commission announced on Friday that it would no longer enforce against real estate professionals most of a new rule in the Mortgage Assistance Relief Services (known as MARS). This had been a roadblock for practitioners trying to assist consumers in short-sale transactions. “Real estate professionals will not have to make several disclosures [...]

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Georgia Real Estate Agent Attacked at Gunpoint

by John TayebJuly 6, 2011 commercial real estate

Police continue to search for a suspect after a real estate agent says she was attacked and robbed at gunpoint last week while working at a leasing office in a new subdivision in Cobb County, Ga. The man entered the leasing office in broad daylight, briefly spoke with the agent, and then robbed her at [...]

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Good Neighbor Deadline Approaches

by John TayebApril 26, 2011 commercial real estate

Don’t miss this opportunity to nominate your favorite community volunteer for REALTOR® Magazine’s 12th Annual Good Neighbor Awards. The deadline is May 20. Five winners will be announced in the November issue of REALTOR® Magazine. Each winner will be recognized at the 2011 REALTORS® Conference & Expo in Anaheim, Calif., and receive a $10,000 grant [...]

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Is Inexperience Hampering the Short Sale Process?

by Tayeb Realty GroupFebruary 1, 2011 Foreclosures

Inexperienced real estate professionals are to blame for hampering the short sale process, according to two real estate professionals who specialize in distressed sales. “The banks know who’s experienced and who’s not,” said real estate pro Travis Waller at a recent conference in New York. “If you don’t present the files correctly to the bank, [...]

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2011 Mortgage Trends: Jumbo Loans, Cash Buys

by Tayeb Realty GroupJanuary 14, 2011 commercial real estate

The number of mortgage applications for home purchases is expected to become a bigger part of the mortgage market in 2011 as home prices stabilize, predicts the Mortgage Bankers Association. Refinancing has mostly dominated in recent months as home owners looked to lock-in low interest rates, but experts predict refinancing to slow as new mortgage [...]

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HAFA Posts New Rules for Short Sales

by Tayeb Realty GroupJanuary 12, 2011 commercial real estate

Loan servicers will have 30 days to send a borrower a short-sale agreement that includes the list price or acceptable sales proceeds under recent changes made to the Home Affordable Foreclosure Alternatives Program, aimed at distressed borrowers who don’t qualify for other government loan modification programs. Once a sales contract has been initiated, loan servicers [...]

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Long-Term Rates Drop Back a Bit

by Tayeb Realty GroupDecember 27, 2010 commercial real estate

Long-term mortgage rates dipped a bit in the week before Christmas, according to Freddie Mac. The mortgage giant reported that interest on 30-year, fixed loans averaged 4.81 percent — down from 4.83 percent the week before and 5.05 percent a year earlier. The 15-year, fixed rate, meanwhile, averaged 4.15 percent compared to 4.17 percent the [...]

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Economic Growth Exceeds Forecast

by John TayebDecember 24, 2010 commercial real estate

A rash of favorable economic reports, including a jump in consumer spending and a drop in layoffs, are offering hope for a pickup. Moreover, new Commerce Department data show U.S. gross domestic product grew 2.6 percent in the third quarter — not 2.5 percent as initially reported. The encouraging signs are prompting some economists to [...]

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Geithner Backs Mortgage Service Standards

by John TayebDecember 21, 2010 Foreclosures

U.S. Treasury Secretary Timothy Geithner said Thursday that he believes the U.S. needs national standards for mortgage servicers. Geithner plans to charge the new Consumer Financial Protection Bureau with creating these new standards. He expects them to start by examining existing state standards. “We got this terribly wrong as a country,” he said. “We want [...]

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How to Keep Buyers Focused

by Tayeb Realty GroupDecember 20, 2010 Foreclosures

Many buyers are paralyzed by the vast selection of houses for sale and by the fear that the value of the property they choose will fall as soon as they own it. “Buyers have read a lot about foreclosures, short sales and how desperate sellers are,” says Sarah Ritter, an associate with RE/MAX Properties in [...]

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