Is Your Family in Distress?
Is Your Family in Distress? Do you or someone you know owe more on their home than it is worth? Are you behind on your mortgage? You are not alone. Did you know 6,058,752 American are in a distressed situation and are behind on their mortgage. 40% of sub prime mortgages are not being paid. These homes are still in 2011’s distressed home makeup yet to hit the market. The Metts Group has been trained by the Distressed Property Institute as a Certified Distressed Property Expert (CDPE). We take care of our clients in northern Pinellas county Florida like they were family....
Read MoreSitting on the Fence
So what are the buyers waiting for? Prices are low. Interest rates are low. Well, the media has once again discouraged buyers from buying with the negative reports of foreclosure. There are almost 3 million foreclosure homes on the market in the US…. and more to come. Florida has the 2nd highest record of foreclosure trailing California. Bleak, yes! Here another way to look from a more positive perspective. Interest rates are at a historic all-time low! Average ARM loans are quoting as low as 3.54%, and a 30-year fixed at 4.53%. Hmmm, what does that mean to a buyer – a lower...
Read MoreFHA Changes Start Sept 7th
FHA will be lowering their upfront PMI for closing costs and raising their monthly PMI for the mortgage payment. Hmmm These guys are pretty goofy but have a great presentation explaining the changes. More changes being contemplated like 3% seller concessions instead of the current 6%. Shouldn’t our government be helping our current Real Estate situation. More to come – Brian at Tri-County Mortgage Jeanine and Howard Metts Metts Group at Future Home Realty 2653 McCormick Drive, Clearwater, FL 33759 Phone: 727-418-5224 or 727-631-4191
Read MoreSales May Come and They May Go
Today was a good day. On Monday, I got a call from a buyers agent on one of my short sales. He said the buyers had enough waiting, they wanted out of the contract. Sound familiar? Great offer, financing was great, the bank which will be left unmentioned dragged their feet and took 4 months. I immediately looked for the negotiators phone number so I could get an escalation (the third one) on the file and found an e-mail from the bank approving the short sale. I quickly called the buyers agent telling him our exciting news only to find out that the buyers were no longer moving to Florida. We...
Read MoreGovernment Reaches Out With HAFA Program
The government short sale program (HAFA) came into effect in April 2010. The program was well thought out to make the process a little less painful to all the parties involved. There are improvements to the short sale process with banks that decide to participate. It’s a voluntary program that is full of bureaucracy and red tape, but if it improves the short sale process even a little, it may be worth it. The Metts Group has already closed on a townhome short sale using this program in May 2010. With HAFA, distressed home owners will get $1500 after the sale to help them relocate and move...
Read MoreMay Shows Strong Pace for Existing Home Sales
May Shows a Continued Strong Pace for Existing-Home Sales Washington, June 22, 2010 Existing-home sales remained at elevated levels in May on buyer response to the tax credit, characterized by stabilizing home prices and historically low mortgage interest rates, according to the National Association of Realtors®. Gains in the West and South were offset by a decline in the Northeast; the Midwest was steady. Existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, were at a seasonally adjusted annual rate of 5.66 million units in...
Read More