Broadlands, a local golf course community in Broomfield CO seems to be holding it's own relative to homeowners being in a distressed situation when selling their homes. According to the last 6 mos. of sales in that subdivision, only about 20% sold in either short sale or lender owned (already be
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01/24/2010
A buyer could not obtain an FHA insured loan if the title had passed ownership in less than 90 days. This was initially done to deter fix-n-flippers was benefiting from someone else's loss, according to my title guy. Effective Feb. 1st this rule will be lifted in the hopes that the upcoming new
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01/19/2010
I love it when it all comes together, especially after working long and hard on putting a successful short sale together. Here's what my recent clients said, "Karen did an outstanding job of helping us through a very long and stressful process involving the short sale of our home. She maintaine
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01/18/2010
There seems to be a moderate amount of controversy as to whether or not radon testing in one's home is necessary and what to do with the results when you receive them. I find that most of my clients do not wish to have the test done when doing their inspection on the home they are puchasing. I
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01/18/2010
Yes, it's true. I was very surprised to learn on my recent FHA/HUD Preforeclosure Sale (short sale) that the homeowner can receive up to $1000 to close a short sale on their property rather than letting it go through foreclosure. The lenders are very open to doing a short sale rather than a fore
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01/08/2010
1) No earlier than the 32nd day and no later than the 60th day of delinquency the Mortgagee (holder of the lein) sends the pamphlet (HUD-PA-426) to homeowner "How to Avoid Foreclosure" 2) If the homeowner is interested in pursuing the Preforeclosure Sale, the mortgagee will them mail out an "Info
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01/07/2010
I've always wondered what the process was like when homes in foreclosure, finally went to sale. Today I finally attended my first foreclosure sale, which happend to be in the City and County of Broomfield CO. Very uneventful, actually. A rep. came into the chambers and began to read off one pr
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01/06/2010
I just closed my first FHA short sale, which isn't even referred to as a short sale, but rather as a Preforeclosure Sale. It has many similarities to that of a Fannie Mae short sale, but is very different as well. One very nice thing about the FHA Preforeclosure is that after the seller is acce
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01/05/2010
To find out all th details of the extended and new tax credit, go to http://www.federalhousingtaxcredit.com/faq2.php It will answer many of the questions you may have, especially on the new $6500 Move-Up/Repeat Home Buyer Tax Credit. It will explain that the homebuyer does not actually have to p
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11/12/2009
I went to a very informative seminar put on by Bank of America this week and was stunned to learn that 71% of short sales fail. The no. 1 reason is that the proper documentation is not submitted timely. If we, as agents are going to due diligence in the representation of our sellers, the necess
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11/06/2009
