In preparation for the deluge of foreclosures expected to wash over California and the country by the end of 2010, Bank of America (B of A) has announced a new program: a $3 billion principal reduction program for homeowner’s with loan-to-value (LTV) ratios exceeding 120% of the home’s current market value. B of A will reduce a homeowner’s LTV ratio to as low as 100%.
This program is limited to homeowners who have either an option-ARM or a two-year rollover ARM.
Participants of this program will have their loan balance bifurcated. The amount available for possible write-off w...
Read more
Read more | 0 comments
|
Link directly to this article.
Real Estate Markets, They are all Different - Larry O Doss
The term market applies more today to real estate than ever before. Why, because real estate related issues change daily, like the stock market, due to out side forces which can cause ups and downs in real estate financing options which effect real estate values. There are several driving principles in real estate markets.
Here are only 10:
1. There are thousands of real estate markets in the United States
2. Lender’s requirements to finance influences property values
3. Buyers’ costs to finance influences property values
4. The news media...
Read more
Read more | 0 comments
|
Link directly to this article.
