Home Affordable Foreclosure (HAFA) Program, Albuquerque

Home Affordable Foreclosure (HAFA) Program, Albuquerque

Home Affordable Foreclosure (HAFA) Program This program ended at the end of 2016. If your mortgage payment is unaffordable and you are interested in transitioning into more affordable housing, you may be eligible for a short sale or a deed-in-lieu of foreclosure through HAFA.  The benefit of a HAFA short sale is you are no longer responsible for the difference between what you owe on your mortgage and the amount your home sells for.  You will also receive $3,000 in relocation assistance upon successful closing of your short sale. Eligibility You may be eligible to apply if you meet all of the … Continue reading...

Albuquerque Housing Market Set To Rebound In 2012?

Albuquerque Housing Market

Albuquerque Housing Market Set To Rebound In 2012? Any guesses as to what is the Albuquerque housing market set to rebound in 2012?  There are three major issues causing  Albuquerque homes to decline in value, too many homes on the market, distressed properties, high unemployment, and tight bank lending standards.  I want to examine each of these issues over the past year. Supply and demand is a simple economic principle, prices decline with too much supply and prices increase as demand increases. Inventory The Albuquerque housing market has seen a 23.5% decline in the number of homes on … Continue reading...

Albuquerque Homes Are Cheaper to Buy Than Rent

Albuquerque Houses Are Cheaper to Buy Than Rent

It Is Cheaper to Buy Than Rent In Albuquerque NM Why do you continue to rent when it is cheaper to buy? Albuquerque homes are cheaper to buy than to rent! Whether you rent or buy, your housing expense represents a significant portion of the family budget so it’s important to understand the differences and relate them to your specific situation. Although renting may provide short-term flexibility and initial cost benefits, lease prices are increasing rapidly. Over time while a home purchase is an investment with the potential to pay it off in the years to come. Buying A House Is A Big … Continue reading...

What is Mortgage Relief Fraud? | Foreclosure Avoidance Scams

What is Mortgage Relief Fraud Mortgage relief fraud occurs when scammers target distressed Albuquerque homeowners seeking Albuquerque foreclosure help. These unscrupulous companies or individuals generally guarantee an Albuquerque short sale agreement or loan modification and charge an upfront fee to start the service.  There have been many reports of desperate Albuquerque homeowners spending thousands of dollars to get Albuquerque foreclosure help only to find that they had been taken advantage of, lied to, and end up in a worse situation than when they began. Albuquerque homeowners facing … Continue reading...

Albuquerque Short Sale May Be An Option To Avoid Foreclosure

Albuquerque Short Sale May Be An Option To Avoid Foreclosure An Albuquerque short sale may be the right option for many home owners looking to avoid foreclosure.  Many Albuquerque home owners are facing foreclosure increases as Albuquerque foreclosures are expected to increase 151%  from second quarter of 2011 to the third quarter 2011. This increase is the highest of all major metropolitan areas in the US.  There are 1358 homeowners facing foreclosure, according to this recent Realty Trac article.  Albuquerque tops the 20 markets where banks are pushing through a new wave of foreclosures to … Continue reading...

Albuquerque Short Sale Home Affordable Foreclosure

Albuquerque Short Sale

Home Affordable Foreclosure Alternatives (HAFA) Albuquerque Short Sale Are you struggling to make you house payment?  An Albuquerque short sale is one of many options for you to avoid foreclosure. A federal program called HAFA is a great option if you qualify.  Contact John Myers at 505 401-7500 to discuss all your options. Homeowner Benefits of HAFA Program Albuquerque Short Sale Compared to traditional Albuquerque short sale process: Quickest option for an Albuquerque short sale decision when there is no offer. Faster decisions: in 10 days once an offer is submitted for … Continue reading...

Albuquerque Foreclosures Expected to Increase 151%

Albuquerque Foreclosures

Albuquerque Foreclosures Expected to Increase 151% Albuquerque foreclosures have the highest increase in activity according to Realty Trac.  According to Realty Trac, Albuquerque foreclosures are going to increase by 151%, the highest increase of all major metropolitan area in the US. A recent Realty Trac article has stated there have been a processing delay and a lackluster economic outlook for the short term; foreclosures are expected to continue to cast a shadow on the nation's housing market well into 2014. Albuquerque tops the 20 markets where banks are starting to push through a new wave … Continue reading...

Fannie Mae and Freddie Mac Request $13.8 Billion

Fannie Mae and Freddie Mac Request $13.8 Billion

Fannie Mae and Freddie Mac Request $13.8 Billion The Federal Housing Finance Agency (FHFA) approved $12.79 million in bonus pay for 10 executives at Fannie Mae and Freddie Mac.  These bonuses come along at the same time as the financial losses continue at these Governments controlled entities. The US Federal government rescued Fannie Mae and sibling company Freddie Mac in September 2008 to cover their losses on soured mortgage loans. Since then, a federal regulator has controlled their financial decisions.  Taxpayers have spent about $169 billion to rescue Fannie and Freddie, the most … Continue reading...

Albuquerque Foreclosure Help | Myers & Myers Real Estate

Albuquerque Foreclosure Help Reports of foreclosures by the millions have been in the national news so much in the past few years that to some, it might seem like the new normal. Foreclosure is financially and emotionaly devastaing for many Albuquerque and Rio Rancho homeowners each year.  Hundreds of home owners are behind in their motgage payments and are in need of Albuquerque foreclosure help. As a real estate agent who is in the trenches with financially stressed home owners every day, I can provide help to Albuquerque and Rio Rancho home owners facing foreclosure. The prospect of … Continue reading...

Go Green Albuquerque & Rio Rancho Home Owners

Albuquerque Homeowners Go Green Ideas I hope this common sense approach to conserving our natural resources will help Albuquerque, Rio Rancho, Corrales, and East Mountain homeowners.  These ideas will help home owners conserve natural resources and save some money. Go Green For Under $50 Lower the setting on you water heater.  This may take a few attempts to get right.  Lower the setting slightly and monitor your hot water for a few days.  If you have plenty of hot water, then lower the setting slightly.  Continue this process until you do not have adequate hot water.  Then adjust the … Continue reading...