Minnesota Fixer Upper

The real owners of ‘Bank owned’ or REO homes are usually anonymous unseen investors.

So where’s the “Shadow”. So far it appears to be more hype than reality.

the Mortgage Bankers Association bought this building less than 3 years ago. Now it can’t afford the payments so it did a short sale and must move out.

[ February 13, 2010; 9:00 am to 10:30 am. ] Home affordability has never been better. This is especially true with the discounted prices on foreclosures and short sales.

[ February 18, 2010; 6:30 pm to 8:00 pm. March 4, 2010; 6:00 pm to 8:00 pm. ] If you or someone you know is struggling with a mortgage come and learn your options. We are dedicated to helping solve this crises one homeowner at a time.

Could this be the beginning of the so called “Shadow Inventory” coming to market?

10% Down for investors through HomePath… the program also includes fix up funds.

Shadow inventory refers to the inventory of homes in default that are not yet on the bank for sale inventory

Back on May 1 of this year the Home Valuation Code of Conduct (HVCC) took effect.Then in order to comply with the HVCC many mortgage companies decided that the best way to comply was to employ Appraisal Management Companies (AMC).
Buyers should be made aware that there are lenders who have taken the proper steps to deal with HVCC without having to hire AMCs.

It’s your choice to see this recession as a time to be a victim or a fighter.
Fact: The housing affordability index is at the highest level it’s EVER been
Fact: Financing rates are near historic lows.