Here is a great outline by Ticor Title outlining the difference between a bank owned transaction and a normal transaction. You can see the differences for the Buyer and Seller, HOA, Contract, Closing, etc. during the escrow process.
The Difference Between a Bank Owned Sale vs. a Normal Sale
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Filed under: FORECLOSURES
I would like to share this information from the Internal Revenue Service regarding tax implications of forgiven debt/bank owned homes on a foreclosure. This article defines what the cancellation of debt is, the tax consequences of having a home go through foreclosure/bank owned and whether cancellation of debt is tax deductible. I think that anyone going […]
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Filed under: FORECLOSURES
The article that was so wonderfully written by Madeline Zook in the Reno News and Review (this paper rocks) that is the prior blog mentioned a designation for short sale specialist’s. Like many of these Realtor designations; you have to read into them a little.
Many times some (designations) simply mean that we spent a couple of hours […]
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Filed under: FORECLOSURES
Here is a great article by Madeline Zook with the RN&R (Reno News & Review) revealing the “dirty secrets” of the foreclosure crisis in Northern Nevada. Madeline Zook is the owner-broker of Sierra Nevada Real Estate, a firm that specializes in rentals and investments. Please keep in mind that all situations vary and things are changing […]
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Filed under: FORECLOSURES
One of the things I watch as an investor (in this market) is how many Reno bank owned homes/foreclosured homes are selling and or pending verses existing Reno bank owned homes/foreclosed homes. Lately, the number sold and pending has been increasing relative to existing Reno bank owned home inventory. Enclosed is a chart
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Filed under: 2009 STATISTICS, FORECLOSURES
Below is recent correspondence with Dan Sherbondy at Direct Access Lending in Las Vegas, NV. He discusses the new loan options of Nevada, including VA Loans & FHA Loans.
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Filed under: LOAN INFORMATION
The South Lake Tahoe, Zephyr Cove, Tahoe Keys, Incline Village and Kings Beach offices of Dickson Realty are merging with Coldwell Banker Select. This adds to Dan Jacuzzi’z recent acquisition of numerous real estate offices around Reno, Sparks, Tahoe and Truckee. We are proud to add these offices to our quiver of Coldwell Banker Select […]
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Filed under: INCLINE VILLAGE, UNCATEGORIZED
Below is information regarding the 4% mortgage interest rate from Stephanie Hanna at Platinum 1st Mortgage. She discusses her take on whether mortgage interest rates will ever get this low.
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Filed under: LOAN INFORMATION
Below is recent correspondence with Stephanie Hanna at Platinum 1st Mortgage. You will find the recent guidelines for buyers for both Fannie, Freddie and FHA loans.
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Filed under: LOAN INFORMATION
Here is an update from Stephanie Hanna from Platinum 1st Mortgage regarding FHA Loans. As you can see, there are some great programs right now and it is a great time to buy.
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Filed under: LOAN INFORMATION, LOCAL MARKET
