Functional obsolescence is a term when used in real estate to indicate a feature of a home that is not longer useful or desirable today.
Homes with 3 bedrooms and only one bath were popular in the 50s and 60s, but now are functionally obsolete; buyers want two bathrooms. Homes with detached, 1 or 1.5 [...]

In real estate, a short sale is a sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold. In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part of the mortgagor.

Carl Keating and in studio guest Sherry Denton of Keller Williams Realty discuss the possibility of a rumored 600,000 phantom foreclosure property more than doubling the current US REO levels. We then move our focus to the mid-west and take a look at the “Green” initiatives underway as part of the rust-belt’s urban recovery plans.

 

 The Foreclosure Phantom and Rust is the New Green: Play Now | Play in Popup | Download (501)

The lenders listed below have indicated an interest in refinancing loans under the HOPE for Homeowners program. When contacting any of the lenders listed below, you are strongly encouraged to contact your servicing lender and any subordinate lien holders since their participation is vital for you to refinance into a HOPE for Homeowners mortgage. It is important to remember that the HOPE for Homeowners program is voluntary and your servicing lender may offer different solutions for avoiding foreclosure.

The HOPE for Homeowners (H4H) program was created by Congress to help those at risk of default and foreclosure refinance into more affordable, sustainable loans. H4H is an additional mortgage option designed to keep borrowers in their homes.

Host, Carl Keating and in studio guest Cale Woods look at the potential for the foreclosure market becoming an asset to the real estate industries recovery. We also take another quick look at the to-date effects of the Stimulus Package elements and the FTC crackdown on the “New Breed” of predatory lender activity in the marketplace.

 

 Foreclosures Our Biggest Asset and We Are Still Bailing: Play Now | Play in Popup | Download (133)

This episode examines the recent expansion in prime mortgage foreclosures in the US and the effects this will likely have on the already challenged real estate sector. We also discuss the down and dirty details of the loan modification option of the Making Home Affordable program as it compares to the refinance portion of the same program.

 

 Prime Mortgages Bust and the Loan Mod Squad: Play Now | Play in Popup | Download (101)

This episode we take a look at the stimulus package effects to-date and delve deeper into the circumstances that may be holding the various programs back. We also cover some of the specific aspects of the Making Home Affordable Program including qualification requirements and the difference between the refinancing and loan modification options.

 

 Is Home Affordable Again and Digging Our Way Out: Play Now | Play in Popup | Download (100)

Carl Keating and in studio guest Taleya Kelly discuss the recent Wall Street rally led by the financial sector and what it means for the real estate sector. This episode also offers a detailed look at the seemingly ever-tightening qualifications for Fannie Mae and Freddie Mac mortgage programs, as well as details on how best to appeal your property taxes.

 

 Wall Street Shows It's Hand and Kissing Fannie Goodbye: Play Now | Play in Popup | Download (45)

In this episode we take a closer look at the U.S. housing market and it’s current status according to the Housing Opportunity Index and we breakdown the proposed mortgage interest write-off cap currently in play in Washington. We also discuss some effective options for homeowners looking to sell who are in a distressed ownership situation.

 

 2009 Housing Outlook and Options for Troubled Sellers: Play Now | Play in Popup | Download (79)