http://www.reophxblog.com All the Blog YOU Could Want on Phoenix-Metro's Bank Owned Foreclosure REO Market! Sat, 07 Nov 2009 04:30:41 +0000 http://backend.userland.com/rss092 en Obama signed the First-Time Home Buyer Tax Credit today. Congress both extended and expanded the First-Time Home Buyer Tax Credit program Thursday. The up-to-$8000 tax credit’s expiration date has been pushed forward to spring, requiring homebuyers to be under contract by April 30, 2010, and to be closed by June 30, 2010. The program’s ... http://www.reophxblog.com/2009/11/06/first-time-home-buyer-tax-credit-it%e2%80%99s-official-video/ Are you looking for a HUD Owned Foreclosure For $100 in AZ? Owned Foreclosure For $100? All HUD property purchasers are required to obtain a Pre-qualification letter from a lender prior to ratification of their sales contract. Please contact our Mortgage Planner Friend William Doom for up front and ... http://www.reophxblog.com/2009/11/04/az-hud-owned-foreclosures-for-100/ Active listings for sale - 31,898 Foreclosures (bank-owned) for sale - 4,193 Short Sales for sale - 8,008 Pending (under contract) - 13,125 http://www.reophxblog.com/2009/10/20/4193-foreclosures-for-sale-in-phx-metro/ An escrow account is a designated savings account into which funds get deposited for a specific purpose. With respect to real estate and home loans, escrow accounts are used to pay real estate tax bills and homeowners insurance payments. Escrow accounts are managed and disbursed by lenders. When a homeowner “escrows” his mortgage, ... http://www.reophxblog.com/2009/10/12/what-is-an-escrow-account/ Guess Who's Ditching Their Mortgages A study of 24 million credit files by national credit bureau Experian and consulting company Oliver Wyman has shown that home owners with high credit scores are 50 percent more likely to deliberately walk away from a mortgage than lower-scoring borrowers. The industry calls these “strategic defaults” ... http://www.reophxblog.com/2009/10/07/guess-who-is-walking-away/ Active listings for sale - 31,405 Foreclosure (bank owned) listings for sale - 4,178 Short Sale listings for sale - 7,892 Pending (under contract) listings - 12,817 http://www.reophxblog.com/2009/10/07/4178-foreclosures-for-sale-in-phx/ The government’s First-Time Home Buyer Tax Credit program expires November 30, 2009 — a scant 60 days from today. Considering it can take up to 60 days to close on a home, first-time buyers have 2 weeks at most to find a home. Buyers not under contract by October 15 have little chance of ... http://www.reophxblog.com/2009/10/04/the-end-of-the-first-time-home-buyer-tax-credit-video/ ACTIVE listings for sale in Phoenix-Metro: 30,998 PENDING listins under contract: 12,327 Bank owned FORECLOURES for sale: 4,175 Short Sales for sale: 7,790 http://www.reophxblog.com/2009/10/01/inventory-down-again-in-phx/ US Treasury just reported that more lender-owned foreclosures will be coming to the market soon. 25% of option ARM mortgage loans are either 90 days delinquent or in the process of foreclosure (1 our of every 4!) 12% of ALL mortgages are either delinquent or in foreclosure. FHA loans in delinquencies or foreclosure ... http://www.reophxblog.com/2009/10/01/delinquencies-on-the-rise/ As reported by the National Association of REALTORS®, the number of Existing Home Sales dipped last month, ending the metric’s 5-month winning streak. Newspaper headlines today are overwhelmingly negative on housing. You’d almost believe this year’s housing recovery had ended. That’s hardly the case. See, the other side of the Existing Home Sales story is that — ... http://www.reophxblog.com/2009/09/30/existing-home-supply-falls-by-nearly-a-year/