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Conforming Loan Limits Rise To Help WA REO Properties?

Conforming Loan Limits Beneficial to WA REO Distressed Properties?

There is a chance that an increase in some conforming loan limits in high-cost real estate markets could provide slightly more opportunities for REO investors purchasing high priced properties.  If conforming loan limits are increased, REO investors on the margins of the maximum limit may have an opportunity to access certain loans, giving them more financing options.

 

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Foreclosure Settlement Could Make Mortgage Refinance Proposal A Reality

Mortgage Refinance Proposal a Reality?? Perhaps.

Federal and state officials have reached a $26 billion foreclosure settlement with five of the largest home mortgage lenders in the country. According to the settlement agreement, Bank of America, JPMorgan Chase, Citigroup, Wells Fargo and Ally Financial will pay a total of $5 billion each to the states. Foreclosed homeowners will receive a portion of that money while the balance will go to the states. Forty-nine states are involved in the settlement, including Washington (Oklahoma excluded); but the agreement does not bar future criminal prosecution of the home mortgage lenders.
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Seattle Makes It To The Top Five For Real Estate

Seattle Ranked 5th in Nation for Real Estate

Seattle Real Estate was ranked the nation’s fifth-best market for real estate investing next year and the top “buy” market for retail and industrial property according to the latest Emerging Trends on Real Estate report by the Urban Land Institute. Seattle benefits from some core elements that make it a very desirable place to buy and hold properties:
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B of A CEO Says Homes No Longer Assets

Bank of America

Bank of America Corp Chief Executive Officer Brian Moynihan is warning Americans against viewing their homes as long-term investments and urging them to instead view a home as a great place to live. As you continue to read this article think about what B of A’s CEO has said and then in the end I will offer a counter point to this argument. Read more

8 Real Estate Articles and 13 Properties You May Have Missed

Real Estate Articles and New WA Properties

Congratulations to everyone we made it through a really wet April here in Washington.  We were all dreaming about the type of weather we finally had yesterday.  Blue Skies and at least in the 60s.  It seems like everyone in my whole neighbor did yard work yesterday for fear of the returning rain.  I was blessed by the golden yellow orb with my first sunburn of 2011.  …Anyway here is more about what’s been happening with RESG. Read more