2012 could be record year for short sales

2012 is on track to become a record year for short sales, according to a report from foreclosure data aggregator RealtyTrac. Sales of U.S. homes in the foreclosure process, typically short sales, rose 33 percent year over year, to 35,000, in January. A total of 32 states saw annual increases in short sales, and 12 …

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Beware of questionable credit clinics

If you have a credit card or email address, you’ve undoubtedly been targeted by “credit clinics” that promise to repair less-than-favorable financial profiles. The fact is, these companies don’t do anything for consumers that consumers cannot do for themselves–at little or no cost. While there are many reputable credit counseling agencies throughout the country, beware …

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Overpricing still a common seller’s mistake

According to Zillow.com, a popular real estate information website, sellers who purchased in 2007 or later are overpricing their homes by an average of 14.1 percent. In comparison, sellers who purchased prior to 2007–when the housing bubble erupted–tend to overprice their homes by an average of 10.5 percent. “Post-bubble homeowners seem to believe they escaped …

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Can an HOA disrupt your home purchase?

When Catherine submitted her offer on a lovely townhome in June, she was told to expect a slight delay in closing because appraisers and home inspectors were so busy with the early summer rush of sales. But she never expected her closing date to be delayed at the last minute because of issues caused by …

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