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To the Students from the June 17, 2010 Foreclosure Class at PNW Realty Federal Way

Here’s a link to the mortgage delinquency stats charts we looked at during the first hour of class.
There was a request to see graphs comparing the 1990s recession with our “Great Recession.”
Here’s the most recent “unofficial problem bank list” from CR.  This list is updated every Friday evening on calculatedriskblog.com
Here’s a link to HAFA: The [...]

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To the Students From the April 21, 2010 Foreclosure Class at KW Bothell

Hi Everyone,
Here are the Q&As from today’s Foreclosure class:
There was an article in this past weekend’s Seattle Times, another good one by Ken Harney, about loan modifications and credit scores.  Here’s another article by Ken about how a person with a higher credit score will see their score fall by more points with either a [...]

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To the Students from the April 2, 2010 Foreclosure Class at PNW Realty W Seattle

Hi Everyone,
First things first: Yes the Muse/Silversun Pickups concert was amazing!
Here’s the follow up from today’s Foreclosure class.
Here’s more information on the new WA State Foreclosure laws. 
Here’s the link to the Making Home Affordable government website for a homeowner to see whether or not they qualify for the Obama Administration’s foreclosure mitigation options.
Here’s a recent article about [...]

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To the Students from the March 25, 2010 Foreclosure Class at SKCAR Bellevue

Hi Everyone,
Here’s the follow up from today’s Foreclosure class.
I promised to send some fun links on my new consumer protection hero Elizabeth Warren. Here are some of her Daily Show clips.
Here is the very cool interactive map from the New York Times.  Yeah, every city thinks they’re special and this couldn’t possibly have happened in “our” city.   
Here’s Ken [...]

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21 Questions to Ask Short Sale Negotiators Before Hiring Them

Interview questions before real estate agent, buyers, or seller decide to work with a “third party short sale negotiator”
1. How long have you been in the “short sale negotiation” business (working with a real estate or LO license without the specific focus on short sales does not count.)
2. How many short sales have you successfully negotiated/closed?
3. What is your [...]

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Shop, Swap, and Drop

This is a new term I heard in class from my real estate agent students.  It describes a home buyer shopping for a move-up home; a nicer home in a nicer neighborhood. The buyer has an existing home and the home’s value has dropped so far that in order to sell, they would have to go through [...]

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To the Students from the Dec 15, 2009 Foreclosure Class at SKCAR Bellevue

Hi Students,
Here’s the follow up Q&As leftover from our class:
Here are two articles on how credit scores are effected by short sale v. foreclosure v. bankruptcy. First, here’s Ken Harney’s article and here’s Ardell’s follow up on the blog RCG.
Here’s more information on the new WA State Foreclosure laws. 
George asked “What constitutes ‘mitigation’ under the new [...]

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To the Students from the Dec 7th Foreclosure Class at PreviewP Northgate

Hi Everyone,
Here’s the follow up info from our class on Foreclosures at PreviewP Northgate
Some folks were curious about the 3 investor groups that represent buyers who want to buy homes at the foreclosure auction like the one we watched in class, and the one I filmed in May here.
Those companies are: Vestus, Foreclosure Resolutions NW, and RE [...]

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Banks are setting bid prices below the principal balance at auction

I visited a foreclosure auction on April 24, 2009 in Bellevue and was able to interview three investors regarding the rumors I was hearing about banks setting a below payoff price as their opening bid.  Turns out the rumors are true.  Follow the full stories here:
Why are Banks Setting the Opening Auction Bid Below the Principal [...]

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