Posts tagged as:

Strategic Defaults

Walk Away and Fannie Mae Will Chase You Down

July 16, 2010

Many lending institutions are beginning to take action against those who decide to walk away. Fannie Mae, according to an article in Housing Wire, announced: Borrowers who are determined to have the ability to make their monthly payments but walk away from their homes will not be able to secure a Fannie Mae backed mortgage [...]

Read full article →

A Conversation on Short Sales vs. Strategic Defaults

July 9, 2010

I recently had an email conversation with a well respected real estate professional about the difference between strategic defaults and short sales. We both agreed that we needed to share our conversation with the readers of this blog. Original Question: I have heard that a short sale might be better than a strategic default. However, they are painfully [...]

Read full article →

Shadow Looms Over Home Prices

May 12, 2010

“We should pay heed to foreclosure activity, which have reached their highest level in at least the last five years. As these homes are put up for sale, we may see some further dampening in home prices.” – S&P Case Shiller Home Price Index 4/27/2010 “We expect the high rates of negative equity and foreclosures [...]

Read full article →

What Exactly is a Strategic Default?

April 7, 2010

There is more and more conversation regarding strategic defaults. And that only makes sense since the number of borrowers deciding to take this path is increasing exponentially. What is a strategic default? Let’s first define strategic default in simple terms. According to Wikipedia: A strategic default is the decision by a borrower to stop making [...]

Read full article →

Walking Away from Negative Equity

January 22, 2010

Today let’s look at negative equity and attempt to determine what impact it will have on a housing recovery in 2010. Negative equity, often referred to as “underwater” or “upside down,” means that borrowers owe more on their mortgage than their homes are worth. Negative equity can occur because of a decline in value, an [...]

Read full article →

Stephen Colbert: Walking Away & Being Honor Bound

January 21, 2010

Hello KCM Community, Steve Harney had scheduled to post on the impact of walking away from mortgages today, but with the release of the new FHA guidelines we called an audible and brought in our guest blogger, Dean Hartman, for a special report. If you were anticipating Steve’s post for today, we apologize. But we [...]

Read full article →

Are Foreclosures Coming to the Luxury Market?

January 12, 2010

There is no doubt that prices in the lower end of the market have fallen rather dramatically over the last several years. Much of this loss in equity occurred as people were unable to pay their mortgages, and the homes went to foreclosure. Many were quick to dismiss this dilemma as the result of questionable [...]

Read full article →

Looking Back: Top 10 Real Estate Stories of 2009

December 30, 2009

The last week of December is always an interesting time. As we plan for the next year, we like to look back on all the important stories and events of the last year. We will gather around the television or paper and endlessly quiz each other on the multitude of Top 10 Lists that inevitably appear. Here [...]

Read full article →