Antwan's blog

Up to now, many short sales — in which the lender accepts a sale of the property for less than the full amount owed -- have taken months to complete. Sometimes, the complex and lengthy process has failed, resulting in foreclosure.

    The government has now turned to "flippers" to inject life into the current housing market.The idea is to “facilitate the return of repaired and habitable properties to the market in a timely fashion,” according to the announcement by HUD. Many lenders are working to see if they are going to facilitate loans on the properties. This comes as good news for investors. With the removal of the 90-day flipping rule, many investors are able to get properties at record prices, rehab them and make them habitable for resale.

  Campbell/Inside Mortgage Finance Monthly Survey of Real Estate Market Conditions  reports that home purchase transactions involving distressed properties surged to almost half in February.Stepped up government efforts, including temporary foreclosure moratoriums and a push to qualify more financially tro

 An article from DSnews.com states that many first time investors and home buyers are turning to Michigan for great deals. Over the past eight months, NationsTrust REO Group has capitalized on the real-estate market in  Michigan, but allowing investors to buy homes at the ground level. Many investors rehab the properties, some make them primary homes, other buy and hold. No matter the exit strategy, these deals are rampant in MI, one of the hardest hit  states by foreclosure.

 Mortgage financier Fannie Mae  has offered  to cover the closing costs on the purchase of its REO properties. Recent data from Fannie Mae Show an increase in the acquisition of foreclosed properties and an escalating rate of seriously delinquent loans, meaning a larger volume of REO's that have yet to hit the market.

  Many investors, international and domestic, are targeting Detroit, Michigan for decent returns. Strategically targeting areas that people actually want to move into, rehabbing the properties and putting them up for sale or rent.

 NationsTrust REO Group  has attracted many international investors with their diverse marketing strategies. The company, which usually caters to domestic investors, has acquired many overseas clients looking to capitalize on the REO market, here in the states. The current state of the real-estate market has caused a surge of interest in distressed properties (REO's) and foreclosed homes.

 Recent studies show that there has been a substantial increased interest in Bank Owned Homes from traditional investors looking to get away from the volatility of the stock market. The recent recession and accounting scandals are among the many concerns that have swayed investors into placing their hard earned money into secured real-estate investments. Banked owned homes(REO) provide less headaches(rent,tenants,high closing costs) than that of normal real-estate investments.

The state has applied for $290 million in federal money to help tear down blighted buildings and revitalize neighborhoods in 12 cities including Detroit, Grand Rapids and Flint.Under the plan, money would be allocated to acquire and redevelop more than 6,000 foreclosed, abandoned and vacant properties in Michigan, demolish 2,500 structures and rehabilitate or build 1,500 homes.

Battle Creek, Benton Harbor, Hamtramck, Highland Park, Kalamazoo, Lansing, Pontiac, Saginaw and Wyandotte also would be targeted for revitalization efforts under the plan.