Arizona, Nevada, California, and Florida are currently classified as Extreme Declining Markets by Fannie Mae and Freddie Mac. As a result of this new classification, FNMA and FHLMC will require the following on all appraisals (this only applies to declining market areas): 1. The most recent and similar comparable sales available as part of the [...]
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This year thousands of homeowners will step into the abyss of having their homes foreclosed. The number of folks who think that buying foreclosures is easy, is staggering. But that is simply not the case. There are so many things that can go wrong when trying to purchase a foreclosed property. Foreclosures simply aren’t easy [...]
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