Getting Through Sandy – REPOST
Since Sandy zapped our video servers (located in New York), we are reposting yesterday’s show.
Click the post title above to watch today’s show. Catch all your real estate and mortgage news and commentary with Frank Garay and Brian Stevens right here at www.TBWSDailyShow.com!
Watch the OPEN HOUSE ZOMBIES trailer we made here: http://youtu.be/CxZDU-AlX6Y
We have HARP Refi’s that had PIW’s and now we have to pay for an inspections, lovelly Sandy
I just heard from a client that Fanniemae is not accepting Short Sales in California due to the rising property values. They want my client to do a deed in lieu or a straight foreclosure and will not accept his Short Sale.
Have you or anybody else heard this happening?
That’s funny and I haven’t heard any such thing and especially today where the Making Home Affordable Program, (specifically designed for Fannie and Freddie originally) is running out with an expanded menu of more eligibility criteria to cover more sets of circumstances for distressed homeowners. The Unemployed, the 15% underwater, removal of the 125:100 DTI cap, as well as the hardest hit areas of homeowner equity; Oakland, Stockton , the entire San Joaquin Valley, etc.
The recent up tick in pricing is a result of low supply and high demand from the fence sitters who have finally come to their senses. The resulting price increases have come from buyers using overseas money in many cases.
If there is a halt to S/sales in Ca. it would have to come with a set of criteria and not a wholesale moratorium on the entire Fannie Mae list of distressed homeowners. Stranger things have happened but I still can’t see why it would be as your client claims. Do they now just foreclose since the borrower may not be helped by an up tick in pricing.
I mean LTV CAP
Keep Elvira up on the wall. Time to retire Farrah Fawcett’s picture.
I love the intro! It looks great
I love the tomb stone listed LO Comp. So funny yet so true. As for Super Bowl Champs you should be looking more central in the country and look at the TEXAN’S.
nice job ON THE INTRO!!!
Sarcasmdetector, Looks like great minds think alike early in the morning!
Also……most closings will be held up for appraisal reinspections due to Sandy. Could take a couple weeks to clear them up.
I’m in PA and what really sucks is that, even though most of the state escaped with relatively little damage, every deal that was getting ready to close will be held up fro a re-inspection by the appraiser. We were declared a ‘disaster area’, and it’s going to make things really messy for the next month or so. This happened in Eastern PA after the floods last fall too.