We've all seen the headlines about the government settlement with the big banks, but what does it really mean? Check out this article from the Washington Post:
http://www.washingtonpost.com/blogs/where-we-live/post/what-does-the-foreclosure-settlement-mean-for-you/2012/02/09/gIQAxE9U1Q_blog.html
This is so new that these are the only details that I have, but it looks like -- don't get excited yet -- these five banks have agreed to PRINCIPAL reduction if you're underwater!!! I'm sure the devil is in the details, but...
In the meantime, here in our land, expect inventory to get even shorter as a lot of short sales may be cancelled because of this.
Home »
Banks get your act together on short sales »
low inventory »
principal reduction »
short sales and foreclosures »
Washington Post »
What does the government/big bank foreclosure settlement mean to you? Well, perhaps a write-down in principal
What does the government/big bank foreclosure settlement mean to you? Well, perhaps a write-down in principal
Artikel Terkait What does the government/big bank foreclosure settlement mean to you? Well, perhaps a write-down in principal :
With all the turmoil in the financial markets, how's the local real estate market doing?Revision note: oops, the quote is from Franklin Roosevelt. Heh, heh I knew that heh. Will the current world financial marke ...
Yet more info on Southland property flippersI've been posting about flipped properties lately, and here's more info and statistics about that very thing from today's L. ...
Coming next week in Sherman Oaks: huge, super-deluxe townhome (and better pics, too)I'll soon be listing this gorgeous, huge townhome at 4604 Norwich Ave. in Sherman Oaks. It has four bedrooms, 4 baths, a bo ...
Busy week in the home buying and selling worldIt's been kind of a crazy week, and I know you all love the dirt, so here goes: First, I'll soon have a gorgeous, almost entirel ...
All your real estate good news/bad news reading in one convenient post!If you regularly read the L.A. Times or any other major news source, you know that there's conflicting news out there about the e ...