The NY Times is reporting that the people who profit from foreclosures see loan modifications as a bad idea. Duh. It’s bad for business. I commented: The opinion of Mr. Katari, who has a financial interest in more foreclosures (asset managers, folks, are the people who liquidate foreclosed property for lenders) is telling. Of course he’s against [...]
Posts Tagged ‘Short sales’
Loan Modifications Causing More Harm?
Posted in Mortgages, The Market, tagged Foreclosures, Loan modifications, Short sales on January 2, 2010 | Leave a Comment »
Do Real Estate Brokers “Fire” Clients?
Posted in Selling, Short sales, Tales from the Trenches, tagged Short sales, top westchester realtor, westchester real estate on February 27, 2009 | Leave a Comment »
Yes, real estate brokers fire listings. It is a rare occurrence for me, but if a client is particularly uncooperative, self destructive, or a liability to the company’s well-being, the listing has to be cancelled and the client given the opportunity to seek their fortunes with another broker. Today, after months of acrimony and headaches, [...]
New Blog on Short Sales
Posted in Foreclosures, Me Myself and I, Short sales, tagged avoiding foreclosure, real estate blogging, short sale realtor, short sale specialist, Short sales on January 10, 2009 | Leave a Comment »
I have started a blog on short sales, focusing past success stories from the files we have closed. The link will be added to the sidebar. http://newyorkshortsaleblog.wordpress.com I have also created a website for my company devoted completely to our expertise in short sales and heping our clients avoid foreclosure. That link will also be [...]
Fox: I’ll Fix the Chicken Coop
Posted in Foreclosures, Mortgages, Selling, tagged mortgage crisis, Short sales on June 17, 2008 | Leave a Comment »
Lenders are promising a “quick response” to distressed borrowers’ applications for assistance: 45 days. 45 days is fast? 45 days is glacial. What is slow? 45 days is long enough to get 2 additional 30-day late payments on your credit report. It takes two days to underwrite a loan; a hardship package is virtually the same material, so [...]
Short Sales
Posted in Selling, Short sales, tagged Short sales on June 10, 2008 | 1 Comment »
Given the state of the economy and the number of people who are either delinquent, owe more than their home is worth, or both, the short sale is becoming a very common and misunderstood term. I did my first short sale in 1997 (I learned from the best), so I am going to offer my [...]
J. Philip in the Journal News
Posted in The Company, tagged Short sales, Yonkers on June 9, 2008 | Leave a Comment »
David Schepp wrote a very good article on how the slower market is impacting people who owe more than their home is worth, yet have to sell. It appeared on the front page of the Sunday, April 27 Journal News. A client of mine was featured prominently and I am quoted as well. The full article can [...]
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J. Philip Faranda Broker-Owner (914) 723-8900
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