Albert Hakim's (alwayssold) Blog

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Real Estate Broker/Owner - City Management Group
RECENT BLOG POSTS
A frequently asked question is whether a mortgage borrower receives any benefit from paying before the due date. In most cases, the answer is "no," but there are a few exceptions. With simple-interest mortgages, including HELOCs (home equity lines of credit), it does pay to pay early and, under s...
04/14/2011
It's curious how companies promote the launch of a new product or program but do little to inform consumers when it is no longer available. Financial Freedom Senior Funding Corporation was founded in 1996 in Irvine, Calif., and grew to be of the biggest players in the national reverse mortgage in...
04/14/2011
The bailout programs used to prop up the nation's banking system are now in the black. The U.S. Treasury announced this week that the investments it made in banks, beginning in 2008, to prevent the sector from folding under the weight of the financial crisis have now turned a profit. Three more f...
04/05/2011
The nation's largest mortgage servicers foreclosed on 95,067 homes during the fourth quarter of 2010, a 49 percent drop from the number of completed foreclosures during the previous quarter, according to a new report from two regulatory agencies. The Office of the Comptroller of the Currency (OCC...
04/05/2011
Large banks and thrifts foreclosed on 382,000 homes in the third quarter, a 31.2% spike from the previous quarter, according to the Office of the Comptroller of the Currency. Foreclosures increased 3.7% from a year ago, and more are coming. There are 1.2 million homes in the foreclosure process a...
04/01/2011
The percentage of mortgages classified as seriously delinquent within the portfolios of large banks and thrifts fell in all four quarters of 2010, the Office of the Comptroller of Currency and the Office of Thrift Supervision said Thursday. The percentage of seriously delinquent mortgages at Dec....
04/01/2011
Ask any active agent what's going on this week in real estate and they'll tell you they are dealing with multiple offers and bidding wars. How is it possible that buyers are fighting over houses in a depressed real estate market which is characterized by excess inventory? The answer is that there...
03/31/2011
Lender Processing Services, Inc. (LPS: 32.2212 +0.32%) said Wednesday morning that it's the latest mortgage industry services provider to roll out an end-to-end loan modification platform. Called RediMod, the new platform focuses on enabling mass loan modifications by automating loan eligibility ...
03/31/2011
Analytics firm CoreLogic (CLGX: 18.65 +1.52%) rolled out IntelliMods Thursday, a new Web-based application that aims to expedite the loan modification decision-making process. CoreLogic says the tool allows servicers to bypass manual loan modification calculations by submitting borrower profiles ...
03/31/2011
Freddie Mac told servicers managing its loans this week that they can no longer foreclose in the name of Mortgage Electronic Registration Systems. The directive came in a bulletin issued Wednesday and takes effect April 1. The bulletin from the government-sponsored enterprise also gives guidance ...
03/31/2011
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Albert Hakim

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