Mortage Trashout Before Foreclosure

I’ve done trash outs before in Minneapolis/St. Paul real estate market after a bank has taken possession of a property through foreclosure. It’s what happens when the bank needs the property cleaned out and ready for sale. Never seen a so-called ‘mortgage trash out’ until I saw this video on KSTP. Banks on REO homes [...]

HUD Announces $8000 Tax Credit Used For Down Payment

Update: I have seen somethings that would say that this has been scratched and I have also seen that HUD and FHA will finalize this sometime next week. Will keep posted. Update 2: New information on the $8000 housing tax credit here BREAKING NEWS announced today that the $8000 first time home buyer tax credit [...]

What is a reverse mortgage?

The other day I had the opportunity of sitting through what I thought would be a mind numbing 3 hours of education based around reverse mortgages. Although I was told I would be an expert after the class, I no where consider myself an expert on the subject. Run, if you ever here somebody say [...]

Loan Modifications: Get to know them Part 6

The final installment of the do-it-yourself loan modification. Thanks again to Morgan Brown from Blown Mortgage for putting all this together. If you missed the first five in the series, don’t forget to check them out: Loan Mod – Part 1 Loan Mod – Part 2 Loan Mod – Part 3 Loan Mod – Part [...]

Loan Modifications: Get To Know Them Part 5

Continuing on in the series, if you haven’t been keeping up and you would like to check out all the articles on loan modifications here. Negotiating new loan terms as part of your loan modification If you’ve gotten this far, congratulations! It means you’ve been approved as a loan modification candidate and the bank has [...]

Loan Modifications: Get To Know Them Part 4

Continuing on with the do it yourself loan modification thanks to Morgan Brown from Blown Mortgage. I pulled this from the Today Show that I saw this morning on loan modification scams. NEVER PAY UP FRONT!!! Visit msnbc.com for Breaking News, World News, and News about the Economy Tips for qualifying for a loan modification [...]

Loan Modifications: Get To Know Them Part 3

Continuing on with in the loan modification series thanks to Morgan Brown from Blown Mortgage, this is Part 3. Determining if you qualify for a loan modification So far in this series we’ve talked about the process of loan modifications, how to get started and how to collect the information you need to accurately complete [...]

Home prices rise, but…

Home prices rise for the first time in 12 months according to the Federal Housing Finance Agency. The rise occured from December of 2008 to January 2009 at a rate of 1.6%. Take this with a grain a salt, because home prices are still down year over year. This is on a national level and [...]

Get up to $15,000 for purchasing bank owned homes in Dakota County

Purchasing a bank owned home just got a little bit more rewarding. In an effort to start dwindling some of the supply of bank owned homes in Dakota County, the Dakota County Community Development Agency has released it’s Silver Lining Program.  This program will reward up to $15,000 towards the purchasing of a REO (real [...]

Loan Modifications: Get To Know Them Part 2

If you missed the first post in the series, make sure you check out Loan Modifcations 101 – The Basics. A big thanks to Morgan Brown from Blown Mortgage who has done a great job explaining loan modifications and how to get them done correctly, without paying a 3rd party an outrageous fee. Just try [...]

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