Foreclosures

01/15/2023

3 steps to take if you’re behind on your mortgage and facing foreclosure

1. Call your lender. Communicate with them and be up front about your situation.
2. Determine what you owe - all in when you speak with your lender or request a pay off balance.
3. Contact a trusted real estate broker to determine if you are able to sell and avoid foreclosure. Make a plan. There is help.

10/11/2022

This kind of thing is sad.
Greed can get the best of people.
Stay away from the “it’s too good to be true”

If you’re behind on your mortgage payments, message us here for Q&A on some options.

Look out for the crooks.

The developer received confidential information that he used to acquire buildings and flip them for a profit.

08/29/2022

How Long Do I Have to Wait Until I Can Buy a Home Again?

If you’ve been through a foreclosure, you can expect to have to wait between about three and seven years — depending on why you defaulted, your current credit score and the type of loan you’re applying for, among other factors — before buying a home again.

Buyers who lost their homes due to economic hardships such as losing their job, illness or getting a divorce may have to wait less time to buy a home than those who walked away from an underwater mortgage even though they were able to pay or those who couldn’t pay once the rate increases on their adjustable-rate mortgage kicked in, experts say. Potential buyers must show that since the foreclosure they have raised their credit score significantly by paying all bills on time and not taking on too much debt.

The time period you have to wait before buying again also depends on your lender. For example, Fannie Mae requires borrowers to wait five to seven years to buy after a foreclosure and three to seven after a foreclosure with “extenuating circumstances’ (which are factors such as illness and severe injury that were beyond your control)(Zillow)

04/22/2022

Top 5 important points about foreclosures currently. -

1. Foreclosures are up 29% from February 2022

2. 132% from a year earlier

3. Foreclosure activity has now surpassed numbers seen before the pandemic.

4. Foreclosure activity is still only running at about 57% of where it was in Q1 2020.

5. Expect to reach historically normal levels of foreclosures the end of the year at the earliest, unless the U.S. economy takes a significant turn for the worse.

Facing foreclosure?
Call a trusted broker or Kelly Adams Cooley to review options.

Want to buy foreclosures?
Message us to stay in touch on upcoming Georgia properties.

Source: DS News

Provided by:
Kelly Adams Cooley, Broker
Adams AMI
O. 770-914-0359
C. 678-300-9090
E. [email protected]

11/20/2021

ZILLOW discussion....



Restaurateur Dana Hollister has chopped $10.5 million off the asking price for her Los Angeles estate.⁠
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Hollister, who famously figured in a real estate feud with singer that lasted five years, is seeking $29.5 million for her home at 1923 Micheltorena Street in Silver Lake. The property, also known as , was built in 1918 for socialite Daisy Canfield and hosted lavish parties during Hollywood's Golden Age. It later served as a boarding school for girls during the Great Depression and a convent owned by the Franciscan Missionary Sisters of the Immaculate Conception.⁠
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The 21,632-square-foot home first listed in April for $40 million. While a variety of factors could stall the marketing of luxury homes, Hollister has put at least part of the blame on , claiming that its valuation of the mansion has hurt her chances of finding a buyer. In a post on Zillow’s listing page for the property, Hollister wrote that the company's $5 million Zestimate is a "gross error" based on "no real information" and that the estate "has been appraised multiple times over the last few years for over $45,000,000."⁠
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Whose estimate do you trust more: Hollister or Zillow? Let us know your thoughts in the comments.⁠⁠
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Agent: Sally Forster Jones,

10/15/2021

If you are behind in your mortgage, you won’t have to go it alone.
How would it feel if you could avoid foreclosure and bot have that on your credit?
We help families avoid foreclosure when there is a solution.
Call the ADAMS AMI offices at 770-914-0369

07/16/2021

Shareholder suit accuses Rocket of deceptive disclosures

A shareholder sued Detroit-based mortgage heavyweight Rocket Mortgage for making misleading statements to conceal risks to its business.

06/24/2021

Kelly Adams Cooley
Extension through July 31

Both the Federal Housing Finance Agency (FHFA) and the Center for Disease Control (CDC) Thursday ann...

06/08/2021

We are here watching to see what happens in the wide open real estate space.

It’s anyone’s guess at this point, but a lot of indicators.

This clip is interesting.