I read Bernice’s article and thought everyone thinking about purchasing a home or investment property should hear it from someome who knows what’s going on. She is trying to motivate agents that this opportunity isn’t going to last forever and…
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By Sean Sposito/The Star-Ledger February 11, 2010, 4:00AM AP PHOTO The fourth-largest mortgage servicer in the country is offering homeowners in New Jersey who are 90-days late on their payments a chance to walk away with cash. CitiMortgage, a unit…
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By Dian Hymer Inman News February 09, 2010 Buyers often shy away from considering short-sale listings, either because they’ve had a bad experience or have heard horror stories about the deals that take forever and never close. Buyers’ agents sometimes…
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By KEVIN POST, Business Editor | Posted: Thursday, February 11, 2010 | Foreclosures in southern New Jersey fell sharply in January, but remained substantially higher than the same period a year ago, foreclosure data firm RealtyTrac of Irvine, Calif., said…
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“The typical focus of a second lien investor is to extract a ‘nuisance value’ out of the second lien rather than rehabilitate the loan,” Walker said. “If the second lien is entirely underwater, they have little or no potential recovery through liquidation of the property and their interest is wiped out at foreclosure. However, they can often demand a small payment — $1,000 to $3,000 — to release their lien.”
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