Postcards from the Lake
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Archive for the 'Mortgage Market Updates' Category
Lake of the Ozarks Realtor Helps Homeowners Avoid Foreclosure
Short Sale Expert Offers Alternatives
Melody Anderson of Lakewide Realty in Camdenton has earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when the area is ravaged by “distressed” homes in the foreclosure process.
Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.
At the Lake of the Ozarks, many homes are in danger of foreclosing. It is happening in all price ranges. Even high-priced homes are not immune.
Alex Charfen, founder of the Distressed Property Institute in Boca Raton, Fla., said that Realtors® such as Anderson with the CDPE designation have valuable training in short sales that can offer the homeowner much better alternatives to foreclosure, which virtually destroys the credit rating. These experts also may better understand market conditions and can help sellers through the emotional experience, he said.
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Author: Melody Anderson | September 20th, 2009
Categories: Mortgage Market Updates, Real Estate News
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Homebuyers in Camden County Choose USDA Loans
100% Financing Option Not Just for First Time Homebuyers
Camden County homebuyers who qualify for USDA home loans are discovering the benefits over FHA home loans or conventional mortgages.
- No Down Payment - Genuinely a 100% home loan
- 2% loan guarantee fee (rolled into mortgage) replaces costly PMI insurance.
- Can qualify without high credit score
- No Minimum Credit History Required
- No limits to seller concessions – seller is allowed to pay closing costs Read the rest of this entry »
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Author: Melody Anderson | August 7th, 2009
Categories: Market Trends, Mortgage Market Updates
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