The housing market has prompted many laments. Realty Executives Chairman Rich Rector put the woes of many homeowners to music. He sang the song “Short-Sale Foreclosure Blues” at one of his brokerage's recent meetings.
”Bought at the top in 2005.
Life was great, beginning to thrive.
Then, whoa, things took a major dive.
Got those short sale, foreclosure, repo blues.
Behind on my payments, Market done tanked.
Prices have fallen, zilch in the bank.
Went to my lender and drew a blank.
Got those short sale, foreclosure, repo blues.
If I could have, I would have paid.
If I could have, I would have stayed.
I've been Fannie'd and Freddie'd ...
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Here's a recap from the Arizona Association of Realtors of the six new state laws that could have the biggest impact on the real estate industry and homeowners. The laws went into effect on July 31st.
HB2345: Homeowner associations are prohibited from banning the display of temporary open house signs, except in common areas. HOAs are also prohibited from regulating a seller's “for sale” sign if it meets industry standards.
HB2371: Swimming pools and spas are now part of home inspections.
HB2450: Municipalities aren't allowed to refuse service or require payment for unpaid water and wastewater services from anyone besides the person ...
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A minister and former Phoenix mortgage broker has been convicted of 10 charges related to foreclosure-aid scheme.
Edward L. Carpenter, 52, was found guilty this week by a Maricopa County Superior Court jury of 10 felony fraud charges related to his mortgage "rescue" business.
According to court documents, Carpenter contacted homeowners and falsely said he ran a "mortgage elimination" business that could legally remove borrowers names from their mortgages, giving them ownership of the properties free and clear. He charged up-front fees of $1,000 or more.
Carpenters' filings were designed to cloud the title, confuse title companies and cause mortgage companies ...
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Lenders have permanently modified the mortgages of 18,409 metropolitan Phoenix homeowners through the federal government's program to help people avoid foreclosure. That's the tally so far for the Making Home Affordable Program launched in the spring of 2009.
Permanent loan modifications in metro Phoenix have climbed by 2,000 to 3,000 for each of the past few months. Foreclosures in the region have climbed by at least 4,000 a month so far this year.
What changed in July was the number of trial mortgage modifications fell significantly. At the end of July, there were 9,735 trial loan modifications underway in the region, down ...
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To save the growing number of pets adandoned in foreclosure homes, a group of metro Phoenix real estate agents has formed the Lost Our Home Pet Foundation. The nonprofit's goal is to rescue pets left behind after their owners lose homes to foreclosure or eviction.
“We know that in order for us to help the vast numbers of pets in need, we also need to help pet owners by providing a variety of immediate, convenient and available services,” said Jodi Polanski, founder of Lost Our Home, which operates a pet food bank for people who can no longer afford to feed their animals.
The nonprofit also has a ...
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