Homes in the Las Vegas area sold at the fastest pace for an April in seven years due, in large, to investor and cash buying...
Lender Flagstar Bancorp is reportedly considering the sale of $70 billion in mortgage servicing rights. Bloomberg reported on...
According to ChicagoMag, a certain 16-room house sold in November for $1.05 million.
“That’s the largest loss I’ve seen a bank take [in the western suburbs],” says Bert Gor, the short-sale specialist and Re/Max agent who handled the sale.
It originally sold for more than $2.7 million [estimated], so the homeowners also lost the $700,000 down payment they had made on the house.
In approving the short sale—where a property is sold for less than the outstanding mortgage amount—the lender, IndyMac, accepted a loss of over $1 million.
Don’t miss out: get HW delivered via email