Posts

Foreclosure Search

Currently 90 bank-owned properties for sale in Greater Grand Rapids. Simply click “Foreclosure Search” to the left for a full list.

5539-112013-dsc_9033e

/by

Vice President of 5 Banks Paid 10 Dollars Per Hour.

Jaw drop lately? 60 Minutes explains one reason for delays behind economic recovery.

/by

TV’s “This Old House” names Grand Rapids’ Heritage Hill a 2011 Best Old House Neighborhood

Thanks Rapid Growth Media: ARTICLE
This Old House: FULL ARTICLE

THURSDAY, MARCH 10, 2011

Photo: Courtesy of the Heritage Hill Association

ThisOldHouse.com touts Grand Rapids’ historic Heritage Hill neighborhood as one of the top 12 “old house neighborhoods” in the country for sustaining a sense of place in a storied residential area, and the best Old-house neighborhood in Michigan.

excerpt:

Why Buy Here?
Though short sales and foreclosures haven’t hit Grand Rapids (long the center of the office-furniture industry) as they have Detroit and other automotive cities, the down market hasn’t overlooked Heritage Hill. Today, you can grab the former castle of a lumber baron or wealthy judge—and walk from home to work in the city’s center—for what amounts to pocket change in other places.

Read the complete story here.

/by

Homebuyer Tax Credit Extended for Those With Accepted Offers in Place

On the evening of June 30, Congress passed an extension of the closing deadline for the Homebuyer Tax Credit. The extension applies only to transactions that have ratified contracts in place as of April 30, 2010, that have not yet closed; the new closing deadline for eligible transactions is now September 30, 2010.

/by

Finding Grand Rapids MI Foreclosures

206 Foreclosure Listings are Currently listed in Grand Rapids. Many aren’t listed on the MLS.

Grand Rapids foreclosures 6/30/10

For an up to date list of all current Grand Rapids MI foreclosures in your price range and area, please email invest@grar.com.
Here are some quick links as well:

HUD Homes
Fannie Mae
Freddie Mac
OCWEN
Fifth Third Bank

Click the “Foreclosures” tab for more info.

/by

Fannie Mae makes Short Sales Easier

Fannie Mae Introduces HAFA Program


On Tuesday, June 1, Fannie Mae issued Servicing Guide Announcement SVC-2010-07, introducing Fannie Mae’s Home Affordable Foreclosure Alternatives (HAFA) Program. It, like Treasury’s Home Affordable Foreclosure Alternatives Program (as described in Supplemental Directive 09-09 Revised), is designed to mitigate the impact of foreclosures on borrowers who are eligible for a loan modification under the Home Affordable Modification Program (HAMP) but ultimately are unsuccessful in obtaining one.

Program Features
The Fannie Mae Home Affordable Foreclosure Alternatives Program, which becomes effective August 1, 2010, simplifies and streamlines the use of short or “preforeclosure” sale and deed-in-lieu of foreclosure (DIL) options on HAMP-eligible loans by incorporating the following unique features:

  • Complements HAMP by providing alternatives for borrowers who are HAMP eligible (including borrowers facing imminent default);
  • Allows the borrower to receive pre-approved short sale terms prior to the property listing;
  • Prohibits the servicer from requiring, as a condition of approving the short sale, a reduction in the real estate commission agreed upon in the listing agreement;
  • Releases the successful HAFA borrower from future liability for the debt;
  • Uses standard processes, documents, and timeframes;
  • Provides financial incentives to borrowers, servicers and subordinate lienholders; and
  • Utilizes verified borrower financial and hardship information collected in conjunction with HAMP, eliminating the need for additional eligibility analysis.

For More Information
For complete program information, read the Announcement. Other related materials are available on the new HAFA page on eFannieMae.com.
/by

HUD Incentive Expires this Week!

If you’ve worked with me much over the past year, you probably know that Ive been a big proponent of HUD homes.
From now til 2/12/10, you can still put $100 down and get a HUD Home with an FHA loan. You will also receive $2500 cash back at close on any offer over $25,000. Rehab loans available.
Combined with the 10% 2010 Obama tax credit, this is the best deal Ive ever seen for a first time buyer.
Last chance: Email me if you’d like to receive a list of HUD homes in your targeted area and price range!

/by