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Your landlord got foreclosed? What about your lease?

Posted by Janice Ziesig on July 10, 2015 in  Foreclosure  Rent
With the large number of investment homes being foreclosed upon, it shouldn’t come as a surprise that many tenants are being asked to leave. What might surprise you is that they don’t have to go. A lease supersedes a sale. Meaning that it transfers with the property to the new owner. Based on the Protecting Tenants at Foreclosure Act, which Congress passed last May, as long the tenant has a valid lease and proof of regular payments, they cannot be forced to leave. Even tenants on a month-to-month lease... read more
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How foreclosure Impacts Your Credit Score

Posted by Janice Ziesig on July 10, 2015 in No Category
As Realtors actively closing short sale transactions, sellers frequently ask us how the short sale will effect their credit. Now, thanks to CNNMoney.com, we have a great new resource to share. Following you will see a snippet from Les Christie’s full article: “Here are the average hit your credit will take:30 days late: 40 - 110 points90 days late: 70 - 135 pointsForeclosure, short sale or deed-in-lieu: 85 - 160Bankruptcy: 130 - 240To come to these figures, Fair Isaac created two hypothetical consumer... read more
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Pending Home Sales Remain Strong In June

Posted by Janice Ziesig on June 30, 2015 in  Buy  Sell
The National Association of REALTORS’ Pending Home Sales Index is “a forward-looking indicator based on contract signings”. The higher the Pending Home Sales Index number, the more contracts have been signed by buyers that will soon translate to sales. The latest index was released last week, with the headline: Pending Home Sales Dip in June As we reported last month, May’s Index levels were the highest recorded in the last 9 years.&... read more
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