How Long do short sales take with Ocwen Bank?  I get a lot of calls every week on this topic so I thought I would write a small article about it so that the public can be more aware of the current situation with short sales in Miami.  As a short sale specialist in Miami I do lots of short sales with Ocwen Bank and I can speak from experience. How long do short sales take with Ocwen bank is a great question that I will answer here. Ocwen bank short Sales take anywere between 2 months to 4 months.    A lot of the time depends on the persons situation and if there are any other legal issues to clear up in relationship to the property.  But let's just say your home is not entangled in anything other than your need to do a short sale.  If that is the case than we are looking at probably 2 mo... 12/11/2013

Reverse Mortgage Program Changes Become a Reality As promised, the new reverse mortgage programs changes, approved in the Reverse Mortgage Stabilization of 2013, came into effect on September 30th. Guidelines for paying mandatory obligations and the financial assessment components will come into effect on January 13 of next year.  While not all the components of the new changes have been worked out, there's no denying that the reverse mortgage program will no longer be the program we have come to know.  Will it still help seniors in need? Yes. Will it still be a valuable retirement planning tool? Yes. It's time to still have to consider how these changes will affect how those who apply for the program qualify...it will no longer be the all-inclusive program that it used be...but this do... 10/03/2013

Adapting to Market Changes...and Life Adapting to any given situation is essential for survival. Like many of us, I had to adapt during the 2007-2009 recession or perish like the rest of them. It's not so much a choice anymore when financial burdens are breathing down your neck but it's also an important part of life. When we were young, we had to adapt from being with our parents every hour of every day to being with our teachers for most of the day. As teenagers, we had to adapt to getting a job and spending more time with teachers and bosses than our parents. As adults, we had to adapt to life and its many responsibilities. If we went to college, we had to get a job, survive on our own, branch out. And if we didn't, well, we still had to do the same things, just in a different way. T... 09/19/2013

Remove the Cap on Reverse Mortgage Programs Congress could potentially be doing that. At least for the time being. In an article that appeared on Reverse Mortgage Daily, Congress has decided to extend the bill suspending the cap placed on Reverse Mortgage Programs that was set to expire on September 30th of this year. The last time cap on Reverse Mortgage Programs came into question was last year, when Congress decided once again to extend the suspension of the cap on the amount of Reverse Mortgage Programs that can be originated and completed. The initial Reverse Mortgage cap at 2,500 began in 1987 under the Home Equity Conversion Mortgage statue but was raised from 1990 to end of 1995 to 25,000 loans. Recent raises have set the current cap at 275,000 since 2006. The current decision c... 07/08/2013

Are you looking to live in a Kendall home for sale?  Check out our complete database of listings for Miami real estate! One of the top choices for homebuyers looking in the Miami real estate market is Kendall.  This great suburb currently has over 75,000 residents, and with the demand for Kendall real estate growing, the numbers should continue to rise.  Geographically, houses for sale in Kendall are located just west of the city of Pinecrest real estate, and southwest of Coral Gables real estate.  This location puts them in a great area, with just a short trip to any of the major destinations across the county, including downtown Miami, South Beach condos, and a myriad entertainment attractions.  Kendall real estate for sale is slightly tricky, in that there are several communities th... 03/30/2012

Well, I know for many the past few days have been introspective.  It definitely has been for me.  Today, on the Turnpike northbound, I couldn't help reflect on a friend's post yesterday on her Facebook site that said "I LOVE MY LIFE"!  Yes :), of course I was happy to read it & there were a few comments that said "glad that you are in a good space", "glad things are well for you", "me too! grateful"...etc., but I had to "pause" I knew what she meant, as I know her pretty well.  She did this with the events & she is a colleague in the other industry that we share.  I knew "exactly" what she meant.  There is no greater "tribute" than to "love your life, making the most of it, & be grateful".  No one, whether they be family, friend, or friend of friends, would ever wish to be looking down ... 09/13/2011

You have some major league baseball games tomorrow night & football season warming up.  There is no better sports bar to hang out in Kendall than Keg South.  They have wonderful wings & burgers & just a very relaxed & friendly atmosphere.  You can see just about any event that is scheduled to be televised on some huge Flat Screen Plasma TVs.  The icing on the cake is their ice cold pitchers of your favorite beverage. Best Burger 2007 by Citysearch.  Great Happy Hour daily 4-7pm  6 Flat Screen Plasma TVs for every major sport event being televised. Very Family & Kid Friendly....just look below at some Happy Fans :)!! Kickoff :-) Baseball or your Favorite Sport ~ Keg South ~ Kendall (Miami) Florida Keg South12805 SW. 136 AveMiami, FL 33186 (877) 342-7887    I have copied their weekly ad f... 09/07/2011

The Crossings is an great community to live in. You can take advantage of the low real estate prices in Kendall and find a super deal right now. How can you get access to these buying opportunities? The first step is to educate yourself. You can consult with a local realtor. Our agents at Interinvestments Realty  can assist you.   If you need a mortgage to purchase your property at The Crossings  you need to get pre-qualified, in addition the Bank needs to prequalify the development.. You can get this pre-qualification over the phone. Speak to your Florida bank that is familiar with Kendall. If you are a foreigner and you wish to obtain a mortgage, then we can refer you to a couple of lenders that specialize in financing to foreigners.  But again, make sure that they will finance a prop... 09/20/2010

Looking to purchase a property in The Crossings ?? Are you interested in buying for your personal use, the other is for investment. There are many buyers that are buying today that the prices in Kendall are low and renting them out. The Crossings is offers are great location and properties that are desirable. The key is buying at the right price.     Are you going to buy with a Mortgage?.... Interest rates that are very very low. If you would like to obtain a mortgage, we recommend that you contact a local mortgage professional that knows the The Crossings market. We would be delighted to recommend a mortgage professional that can assist you. Please contact of our real estate Associates at Interinvestments Realty.  Tel. 305-220-1101     We are delighted to start researching what are the... 09/16/2010

Searching for a place to Buy in Kendall? You should look at Panache. Do you know if its a condo, townhome or single family home? Are you paying cash or do you need financing? What size? How many bedrooms do you need? What is your price range? These are all important questions that you need to ask yourself before you start searching for a place to purchase.     If you will be financing the property that you are interested in buying. Don't be afraid and contact your local Florida bank and get pre-qualifed. That is the first step. Find a bank what is active giving loans in Kendall. Ideally find one that has done a mortgage in Panache recently. This is something that we can check for you on the MLS. Once you get prequalified, you will know what are your closing costs and what will be your m... 09/16/2010

Searching for a place to Buy in Kendall? You should look at Kendall Breeze. Do you know if its a condo, townhome or single family home? Are you paying cash or do you need financing? What size? How many bedrooms do you need? What is your price range? These are all important questions that you need to ask yourself before you start searching for a place to purchase.     If you will be financing the property that you are interested in buying. Don't be afraid and contact your local Florida bank and get pre-qualifed. That is the first step. Find a bank what is active giving loans in Kendall. Ideally find one that has done a mortgage in Kendall Breeze recently. This is something that we can check for you on the MLS. Once you get prequalified, you will know what are your closing costs and what ... 09/14/2010

Looking to Buy in a property in Kendall., then you should consider Forest Lakes. We are living at a moment in time that you can adquire properties at historic low price points. If you are looking or your personal use or for investment, there are homes and condos in Kendall that you can pick up at incredibly low prices.   If you need a mortgage to buy your home in Forest Lakes, then you should contact a local mortgage professional. There are a few mortgage brokers or banks locally in Forest Lakes that know the area and properties. Real Estate is a local business. We recommend that you work with professionals that are doing transactions in Kendall. They know the area.   Interinvestments Realty's website is one of the best online to search for properties. You can start doing your research ... 09/13/2010

How can I take advantage of the low real estate prices in Kendall. How can I get access to these buying opportunities? The first step is to educate yourself. You can consult with a local realtor. Our agents at Interinvestments Realty  can assist you.   Financing is the other question. Do you need it? Financing a single family home or a condo is completely different. Financing a Single Family home is a lot easier, Banks prefer them over condos. If the property that you are interested in Kendall is a condo, them you should speak to you lender, so they can tell you if they can finance the condominium project.   You can start doing your research online. Search for properties on Kendall now by visiting our website: http://www.interinvestments.com  we have the all the communities in Kendall! ... 07/28/2010

 Foreclosure reduces the value of a home by 27 percent on average, according to a new study from Harvard University and the Massachusetts Institute of Technology.Other kinds of forced sales have less dramatic impacts, the study found.An estate sale after an owner’s death reduces the price of the home by only 5 percent to 7 percent. A bankruptcy filing cuts the value by an average 3 percent. Homeowners need us more than ever. This is just additional evidence why distressed homeowners need to be informed so they can make an educated decision and be provided with options. 07/27/2010

The prospect of foreclosure can be financially and emotionally devastating, and often homeowners proceed without guidance of any kind. As a Real Estate Broker with a CDPE Designation I believe that the best course of action for a homeowner in distress is to speak with a well-informed, distressed property educated, licensed real estate agent. We have the tools needed to help homeowners find the best solution for their situation. Often, when other options have been exhausted, CDPEs can help homeowners avoid foreclosure through the efficient execution of a short sale. Since becoming certified it has helped me help distressed homeowners in half the time it took before. By visiting my website www.edmacias.com I can show and inform those needing help. So if they do decide to consider a short... 06/23/2010

It doesn't look like the HAMP program is working as initially planned as more and more homeowners are not qualifying.. More than five times as many homeowners were kicked out of the Obama administration's primary foreclosure-prevention program last month than were granted new relief, new data released Monday show. Nearly 155,000 homeowners were bounced from the administration's Home Affordable Modification Program in May versus about 30,000 who were offered new temporary trial plans of lower monthly payments. About 48,000 more homeowners were granted five-year plans of lower payments compared to April, with an undisclosed amount offered five-year plans that have yet to complete the paperwork. All told, last month about twice as many homeowners were bounced from a program that promised ... 06/22/2010

There are so many foreclosures and short sales available in todays market, that it couldn't be a better time to buy. If you need a home in a hurry, you might want to think about looking at home foreclosures first; short sales take a couple of months to get an approval in price. If you're in no hurry, a short sale home may be the better option and not take much longer to purchase than a conventional home. Benefits of a foreclosure will be a better price in most cases. The negative is the property may need repairs that a short sale will not need because the poperty is occupied and mostly is a better poduct that will qualify for financing. Either option is a good investment depending on your needs and what your are trying to accomplish. Do not hesitate this is the time buy and find your d... 06/19/2010

Take a look at some of the opportunities and positive indicators for the future of Florida's real estate market.1. Great prices. Statewide, home prices have fallen about 20 percent in the past year. 2. High inventory levels. Conditions are ideal for buyers to find their dream home. Inventory is plentiful in all price ranges. But as sales volumes increase, inventory levels are likely to shrink. That reality translates into this advice for buyers: Don't wait too long.3. Low mortgage rates. Mortgage rates are still at the lowest levels since the 1960s. Lower rates multiply a buyer's financial power. Buyers can get more home for the money, which is a perfect scenario for families looking to upsize.4. A long-term-growth state. Long-term economic and demographic trends continue to favor Flor... 06/19/2010

Buying Again After a Short Sale If your payments have never fallen behind 30 days late and the lender does not require that you pay back the loan, Fannie Mae guidelines may allow you to buy another home immediately. The wait for an FHA loan is 3 years. If your payments are in arrears yet a short sale is granted by your lender, you may qualify to buy another home with a Fannie-Mae backed mortgage within two years, regardless of whether the home is your primary residence. Buying Again After a Foreclosure With certain restrictions, you may be eligible to buy another home in 5 years if the home was your primary residence. Without restrictions, the wait is 7 years. If you are an investor and do not occupy the home, the wait to buy with a Fannie Mae insured loan is 7 years. Affects on Credit... 06/19/2010

Approximately 7.5 million first-lien borrowers fell behind on their mortgage as of March 2010, about 15% of the 51 million total borrowers. Of the 7.5 million, more than 5 million made a payment in the last three months, which means more than 10% of all mortgage borrowers are seriously delinquent, according to the report. Since the US government introduced delays in the foreclosure process, such as the Home Affordable Modification Program (HAMP) and the Home Affordable Foreclosure Alternatives (HAFA) program many believe the shadow inventory represents the foreclosed inventory that has yet to reach the market, Morgan Stanley measures the “shadow inventory” as the amount of homes that will need to be liquidated through the REO process. The shadow inventory includes all loans behind by 9... 06/01/2010