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PassFHA Guarantee’s Your Property Will Meet All FHA Lender Guidelines!
PassFHA Guarantee’s Your Property Will Meet All FHA Lender Guidelines!
Data collected from nine of the largest bank and thrift servicer’s shows they completed 244,800 foreclosure actions (including short sales & deeds in lieu transactions) in the third quarter, compared to 470,300 home retention actions such as loan modifications, trial modifications and repayment plans.
Stevenson Ranch,
CA,
United States of America
(prbd.net)
08/01/2011
Data collected from nine of the largest bank and thrift servicer’s shows they completed 244,800 foreclosure actions (including short sales & deeds in lieu transactions) in the third quarter, compared to 470,300 home retention actions such as loan modifications, trial modifications and repayment plans. Home retention actions declined 17% from the second quarter, while foreclosure actions increased 15% in the third quarter. Completed foreclosure actions are up 57.5% from a year ago. "Completed foreclosures have risen for six consecutive quarters," according to the OCC/OTS Mortgage Metrics Report released on Thursday. "Servicers indicated that completed foreclosure and other home forfeiture actions are likely to increase as alternatives for seriously delinquent borrowers are exhausted and loans in process of foreclosure proceed to foreclosure sale," the report says. As of Sept. 30, the nine servicers had 1.2 million mortgages in the foreclosure process. -Managing REO’s Wednesday, December 29, 2010
As the available inventory of “for sale” properties increases with bank owned properties, the overall market will see and additional drop in pricing. Good news for first time home buyers and investors seeking deals; bad news for sellers. Short-Sale properties will rise even further as the market declines and underwater homeowners seek to get out from under their mortgages. Expect fewer properties to be in market condition, (rarely does a short-sale seller spruce up the property or make needed repairs to sell their underwater property). What this means is that there will be far more properties listed that do not meet FHA lender guidelines. That coveted FHA loan will be far harder to secure, not because of available credit for the borrower, but because the properties available for those who wish to capitalize on the low down payment and interest rates offered by FHA will not qualify due to guideline or repair issues.
http://www.passfha.com and its parent company Bristol Restoration have the answer to any buyer seeking FHA financing on a property that does not meet the guidelines. When you hire Bristol to make needed repairs, they will guarantee the property you want to buy will “pass FHA” inspectors or you don’t pay a dime! Bristol Restoration is an FHA property expert. They have repaired or rehabbed over 8,000 properties in the past 4 ½ years for banks, investors, and FHA home buyers alike and they can help you get the home of your dreams. Generally the bank or asset manager listing the property will pay for those necessary repairs, but occasionally home buyers desiring some properties end up paying for the repairs themselves. No problems there either, Bristol offers deferred payments and 100% finance options with low interest rates, unsecured loans, title-I second mortgage loans to $25,000, and with up to fifteen years to pay. You can even add in any upgrade or remodel. Buyers today need more information to make intelligent buying decisions. For a very low fee, PassFHA.com and Bristol Restoration can give them the peace of mind when negotiating through the myriad of issues found in today’s real estate market.
Contact Details: Damon King
Bristol Restoration
25214 Summerhill Lane
Stevenson Ranch, CA 91381-2261Phone: 866-775-8169
Email: Damon.King@BristolRestoration.com
About
Contact Details: Damon King
Bristol Restoration
25214 Summerhill Lane
Stevenson Ranch, CA 91381-2261Phone: 866-775-8169
Email: Damon.King@BristolRestoration.com
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