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Foreclosure Inventory Down 37% over Last Year!




Foreclosures Down 37% From Last Year | Keeping Current Matters

According to the latest CoreLogic National Foreclosure Report, “approximately 660,000 homes in the US were in some state of foreclosure as of May 2014”. This figure is down 37% from the 1 million homes in May of 2013. May marked the 31st consecutive month in which there were year-over-year declines.

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Taking the Spooky Feeling Out of Foreclosures




Buying a Foreclosure isn’t as Risky as You May Think, with the Proper Know-How

Last week, when Amanda Kostina laid out her 10 Hidden Hazards When Buying Foreclosure, it hit close to home. My husband and I relocated to Florida in the midst of the credit crunch, and what awaited me in my new home state was a depressed real estate market. Even though foreclosures had always been part of my repertoire, nothing could prepare me for the crash course I was about to get in the owned-asset market.

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10 Hidden Hazards When Buying Foreclosures




ForeclosureBuying a foreclosed home can seem like a dream. What could be better than getting a home for a fraction of the market value? Some may even say that the deals sound like they could be too good to be true. In some cases, those doubters aren't too far off the mark. There are some hidden dangers in buying foreclosure properties that, if you're not aware of them, could be disheartening and disappointing. If you are pursuing this route in buying your new home, be sure to look out for these hazards and hidden costs.

  1. Destruction of Property – A sad truth about foreclosure properties is that they have often been purposely destroyed. Sometimes the homeowners do this out of frustration over losing their homes, or out of simple carelessness when they realize their home is irretrievably gone after too many missed mortgage payments. If the homeowners have not destroyed the property themselves, there is also a chance that the home has been vandalized by other people because it has been left sitting empty.
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Boomerang Homebuyers Get a Shorter Ride Home




Today, we are honored to have Jim Sahnger as a guest blogger. Sahnger is a 20 year veteran in the mortgage industry and is widely recognized for his expertise. His thoughts have been noted in Bankrate.com, Wall Street Journal, MarketWatch, Business Week and Investor’s Business Daily. - The KCM Crew

Fresh StartHUD recently announced that people who lost their home through a foreclosure, short sale or bankruptcy, may be eligible to finance a home again in as little as 12 months. This is a reduction from the previously required minimum of 36 months from the date of the “most recent event.”

Released August 15, HUD provided guidelines under “Back to Work – Extenuating Circumstances” meant to ease the path for home ownership for many.

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Shadow Inventory: Beginning to See the Light




Shadow InventoryOne of the key obstacles to a housing recovery over the past five years has been the overhang of distressed properties about to come to market which has come to be known as shadow inventory. Shadow inventory numbers are comprised of three separate categories of properties:

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