• Welcome (Back) To DaUnknownAdmin.Com I've been able to restore the databases for WhatChaMissin.Com, Freestyle.FM and other sites. You should be able to log in using your old login information. If you have forgotten it, you can reset your password. You can also use the facebook app to log in. Be sure to drop by our Roll Call Thread

    If I helped you to log in by resetting your password, be sure to change the password at https://daunknownadmin.com/forums/index.php?account/security

Homes - for Sale - for Rent

varrinique

FM MoDz
Freestyle Nation
FreestyleMania.com
ClubFreestyle.Com
NHBFreestyle.Com
FreestyleRemix.Com
NYFreestyle.Com
MaximumFreestyle.Com
LatinFreestyle.Com
Freestyle.FM Dee Jays
For rent!

4 HUGE Bedrooms
1 full bathroom upstairs plus another 1/2 bathroom downstairs.

Gigantic living room at entrance of house
Dining room is gigantic as well, with closet.

Kitchen is gorgeous with cabinets

Huge hallway upstairs

Finished basement with 2 huge rooms in it and is equipped for washer.

------------------

No section 8 please!!!

This is PERFECT for an employed couple with up to 3-4 children.

1473 Bradley Avenue
Camden, New Jersey 08104

Leonaldo/Norma (856) 979-7309 (great landlords!!!)

$1100.00 Rent
$1100.00 Security house is fixed and ready to move into

Let them know you heard about the rental from Maria on Freestyle.fm :)
 
Last edited by a moderator:

varrinique

FM MoDz
Freestyle Nation
FreestyleMania.com
ClubFreestyle.Com
NHBFreestyle.Com
FreestyleRemix.Com
NYFreestyle.Com
MaximumFreestyle.Com
LatinFreestyle.Com
Freestyle.FM Dee Jays
Hey guys!
Don't forget to give this one a look. It's perfect for philly/nj residents. Great location as well.

If you know of any couples looking, give them the info :)

Your Cowgurlll
 

varrinique

FM MoDz
Freestyle Nation
FreestyleMania.com
ClubFreestyle.Com
NHBFreestyle.Com
FreestyleRemix.Com
NYFreestyle.Com
MaximumFreestyle.Com
LatinFreestyle.Com
Freestyle.FM Dee Jays
Passing thru to thank everyone who inquired and passed it on until the house was leased

Migente members also threw down together with FFM, so if any of you got a chance to pass my bulletins around, thanx for passing the word

Your Classifieds Cowgurlll
;)
 

varrinique

FM MoDz
Freestyle Nation
FreestyleMania.com
ClubFreestyle.Com
NHBFreestyle.Com
FreestyleRemix.Com
NYFreestyle.Com
MaximumFreestyle.Com
LatinFreestyle.Com
Freestyle.FM Dee Jays
Home Sales Tank: What it Means for You





<!-- ./end of article hd --><!--- Insert the sidebar information -->
By Luke Mullins , On Monday January 25, 2010, 3:07 pm EST

Existing home sales plunged in December, falling nearly 17 percent from November in their largest month-over-month drop since record-keeping began. Meanwhile, December's inventory represented a 7.2-month supply of unsold homes, notably higher than the 6.5-month supply recorded in November, the National Association of Realtors reported Monday. Although the monthly decline was larger than expected, the figures are much less jarring when compared with December 2008. Existing home sales remain 15 percent higher than a year earlier, while raw unsold inventory fell 11 percent from December 2008 to its lowest level since March 2006.
<!-- Article Related Media -->Although the monthly drop-off was steep, it had been expected for some time. Buyers scrambled to close transactions by November to qualify for the $8,000 first-time home buyers' tax credit, which was originally set to expire at the end of November. The credit--which was later extended through June--worked to juice home sales figures in November at the expense of December. "The collapse in sales simply reflects the bringing forward of transactions to beat the originally planned expiration of the first-time buyer tax credit," Ian Shepherdson, chief U.S. economist at High Frequency Economics, said in a report. Here's a look at what the December existing home sales report means for homeowners, home sellers, and home buyers:
[See Getting a Mortgage in 2010: 10 Things to Know.]

For homeowners: Property owners who have watched home values at the national level drop roughly 30 percent from their 2006 peaks will see some optimistic-looking data in the report. First, the national median existing home price increased 1.5 percent, to $178,000, from a year earlier. That's the first time median home prices have posted an annual gain since August 2007. Home values began stabilizing in the back half of 2009, thanks to increasing demand linked to cheap mortgage rates, more affordable prices, and Uncle Sam's tax credit. However, the increase in median home prices is also tied the tax credit's original expiration, which resulted in a larger percentage of sales to higher-end buyers in December, said Patrick Newport, an economist with IHS Global Insight, in a report. "Going forward, prices are likely to fall from December's level because of rising foreclosures," Newport said.
How much further will home prices fall? Mark Zandi, chief economist at Moody's Economy.com, argues that home prices have another 10 percent or so to fall before they hit bottom in the third quarter of 2010.
[Also see Expanded First-Time Home Buyer Tax Credit Becomes Law.]

For home buyers: Those looking to purchase a home this year should be encouraged by the report, which signals that buyers will at least retain leverage in the real estate market through the spring season. Buyers already have a number of things going for them. The tax credit has been extended and expanded to include even current homeowners who close a transaction by the end of June. Thirty-year, fixed mortgage rates fell below 5 percent for the week ending January 21. And the housing bust has dragged home prices down to more affordable levels and reduced the risk of another crash. "You never know 100 percent whether you are at the bottom in prices, but prices are very stable right now," said Zach Pandl, an economist at Nomura Securities. "Low prices, low mortgage rates, and stable price expectations are major positives and probably more important fundamentally than the first-time home buyers tax credit."
But would-be home buyers should keep their eyes on mortgage rates, which are likely to head higher as the year progresses. The Fed was able to pull rates on 30-year fixed mortgages to historic lows by launching a program to buy up debt and mortgage-backed securities from Fannie Mae and Freddie Mac. The program, however, is slated to expire at the end of the first quarter. And if private buyers don't step in, mortgage rates could increase significantly, perhaps by a half a percentage point, to 5.50 percent. But Pandl isn't overly worried about this potential to drive rates higher because the Fed could always decide to buy more securities if need be. "[The Fed is] exiting the market but they also have been hinting that they can return if mortgage rates rise too high," Pandl said. "And that's a very credible [possibility] because they have bought so many [mortgage backed securities]."

For home sellers: Although home sales should rise from December's depressed levels, those looking to sell property this spring will still have to have to work for it, said Guy Cecala, the publisher of Inside Mortgage Finance. "[Home sellers] should feel probably better than last year, but it was so bad last year that that's not a real fair comparison," Cecala said. "Anything is going to look better probably in the first half of this year than it did last year." That means home sellers will have to price their home aggressively, ensure the property is in tip-top condition, and be willing to entertain offers that aren't quite as strong as they would like. "I don't think anybody is going to be raising their prices," Cecala sad.
[ See 10 Cheap Ways to Boost Your Home's Sales Price by Spring.]
 

Corinne

New Member
It's an interesting post to know some details about the rules. The exclusive advantages of buying foreclosed homes for sale consist of instantaneous profits, lower sale prices of foreclosed homes than the market, increased buying opportunities and low interest rates.
 

varrinique

FM MoDz
Freestyle Nation
FreestyleMania.com
ClubFreestyle.Com
NHBFreestyle.Com
FreestyleRemix.Com
NYFreestyle.Com
MaximumFreestyle.Com
LatinFreestyle.Com
Freestyle.FM Dee Jays
It's an interesting post to know some details about the rules. The exclusive advantages of buying foreclosed homes for sale consist of instantaneous profits, lower sale prices of foreclosed homes than the market, increased buying opportunities and low interest rates.

That's great to know Corinne. Someone out there is always looking for a great deal!:cool:
 

varrinique

FM MoDz
Freestyle Nation
FreestyleMania.com
ClubFreestyle.Com
NHBFreestyle.Com
FreestyleRemix.Com
NYFreestyle.Com
MaximumFreestyle.Com
LatinFreestyle.Com
Freestyle.FM Dee Jays
Mortgage lenders pursue homeowners even after foreclosure

As terrible as it is to lose your house to foreclosure, at least it's a relief to put your biggest financial headache behind you, right?
<!-- Article Related Media --> Wrong.


Former homeowners may still be on the hook if there's a difference between what they owed on their mortgage and what the bank could sell it for at auction. And these "deficiency judgments" are ticking time bombs that can explode years after borrowers lose their homes.


It can even happen to people who got their bank to approve them selling their home for less than it is worth.


Vanessa Corey, for example, short sold her Fredericksburg, Va., home in April 2008. She and her husband built the house in 2004, but setbacks, both personal (divorce) and professional (housing bust), made it impossible for the real estate agent to keep her home. So she negotiated the short sale and thought that was the end of it.


"My understanding was that the deficiency was negotiated away," she said. "Then, last November, I got a letter from a lawyer telling me I owed my lender $65,000. I had to declare bankruptcy. There was no way I could pay it."


Many homeowners are now in the same boat. And not just those who took out bigger loans than they could afford or who did so called "liar loans" where they didn't have to verify their income.


Because of falling home prices, borrowers who always paid their mortgage but who have run into unforeseen circumstances -- like unemployment or a job transfer -- can no longer sell their homes for what they owe. As a result, they are being forced to short sell or foreclose and are getting caught up in deficiency judgments.


"After the banks foreclose, it's very common now to have large deficiencies with houses not worth the balances owed," said Don Lampe, a North Carolina real estate attorney.


Lenders mostly declined comment. Although Corey's lender, BB&T did indicate it was pursuing more deficiency judgments.


"They follow the rise and fall of foreclosures," said the spokeswoman, who would not discuss Corey's account.


Can they come after you?
Whether banks can and will pursue deficiency judgments depends on many factors, including what state the borrower lives in and whether there's a second mortgage or other liens. But if borrowers ignore the possibility of deficiencies, it could haunt them.


"Once they have a judgment, they can pursue you anywhere," said Richard Zaretsky, a board-certified real estate attorney in West Palm Beach, Fla. "They can ask for financial records, have your wages garnished and, if you fail to respond, a judge can put you in jail."


In the case of foreclosure, lenders can pursue deficiencies in more than 30 states, including Florida, New York and Texas, according to the U.S. Foreclosure Network, an organization of mortgage law firms.


Some states, such as California, are "non-recourse" and don't allow deficiency judgments. But, even there, if the original loan was refinanced, some or all of it may be subject to claims.


Deficiency judgments on short sales and deeds-in-lieu can happen in many more places. In these cases, extinguishing the debt is often a matter of negotiating with the bank.


But even when lenders are willing, many borrowers may not be aware that they have to ask for release. So, if you are pursuing a short sale, be sure your attorney asks the bank to release you from any further obligation.
"People shouldn't have a false sense of security that a deficiency judgment may not be later sought," Zaretsky said.


He expects many will be filed over the next few years, based on the fact that banks have sold many of these accounts to collection agencies and other third parties, at discount.


"The parties who bought those notes wouldn't have paid money for them unless they had the intention of acting," Zaretsky said.


Ticking time bomb
What can be scary is that the judgments don't have to be obtained immediately. Lenders or collection agencies may wait until debtors have recovered financially before they swoop in. In Florida, the bank can wait up to five years to file. Once the court grants a judgment, the lender has 20 years there to collect, with interest.


It doesn't have to be a large amount of debt for a lender or collection agency to come after borrowers. Richard Varno and his wife short sold their Nashville home back in 2004 after he lost his job.


It wasn't until 2008, when the second lien holder asked him for $25,000, that he realized he still was liable.


"I told them, 'Hey, you guys released the title,'" he said. "As far as I know, I'm off the hook."


He wasn't. Releasing title does not necessarily end the debt. It's complicated because of variations in state law, but, generally, a mortgage has two parts: a pledge of collateral, represented by the home, and a promise to pay off the loan.


Lenders may release property liens in order to facilitate short sales without releasing borrowers from their obligations to pay under the promissory notes. The secured debt can convert to an unsecured one after the sale.
Zaretsky had one client who was so relieved to have arranged a short sale that he signed every paper his real estate agent shoved at him, even a confession that clearly stated he still owed the debt.
"He had no idea what he was doing," said Zaretsky. "All the lender had to do was go to court to convert the confession into a deficiency judgment."
Lenders are also very inconsistent. One of Zaretsky's short-sale clients was ready, willing and able to pay, but the bank did not even ask; another lender always reserves the right to pursue the deficiency.


Strategic defaults
Sometimes lenders go after borrowers walking away from their homes if they have other assets, according to Florida real estate attorney Larry Tolchinsky.


"Banks are pulling credit reports to see if it's a strategic default," he said. "If you're behind on all your other payments, you're okay. But if you're not, they'll come after you."


If borrowers have any doubts about their risks, they should seek legal advice. Or, at least, call non-profit organizations such as NeighborWorks for advice. According to Doug Robinson, a NeighborWorks spokesman, its counselors always try to negotiate away deficiencies when they facilitate short sales or deeds-in-lieu.


"We don't favor any short-sale contracts that leave any deficiency that can be pursued," he said.


Robinson himself knows what can happen. He paid off a deficiency after his own New Jersey house went through foreclosure 11 years ago.
 
Last edited by a moderator:
Top