Foreclosures and REO – Timeline – Part II

If a home owner fails to make their timely payments the bank or lender will begin the foreclosure process.  The home owner is given several opportunities to satisfy their debt with the bank, if they cannot a date is set for the property to be sold at auction.  In most cases the home owner has [...]

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Foreclosure and REO Timeline – Part I

If a home owner fails to make their payments on time, the bank or lender who owns the mortgage will begin proceedings that could lead to foreclosure.  This is a process that takes several months and gives a delinquent home owner many opportunities to catch up on their payments.
Sometimes a homeowner will realize that they [...]

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Thanksgiving

Centuries ago a group of Pilgrims came to this new land.  They weren’t sure what they would find and when they got here they weren’t truly prepared for the hardships that faced them.  Still, they found there were indigenous people here who were willing to befriend them and teach them how to grow food in [...]

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Foreclosure and REO

There is a lot of confusion about what REO is, how it differs from foreclosure property and how a home becomes an REO.  For the next few Blogs I am going to detail the foreclosure process to try to shed a little light on the subject.  First I would like to start with a small [...]

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Where Is Your Financial Future?

We are all looking at the current economic situation and wondering where the bottom is.  I think we are all clear that it will turn around; the question most people are asking is when?  Since we have no way of knowing “When?” I prefer to ask a different question: “Where do you want to be [...]

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Inspecting REOs

One of the great advantages of buying an REO property is the ability to inspect it. When a property is in foreclosure it usually isn’t possible to have it inspected, in many cases it isn’t even possible for you to view the inside, not so with REO.  With REO property you have the ability to [...]

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Happy Endings

I love it when a client finds the perfect home.  At Island Advantage Realty LLC we are all about matching a client with a home that meets their needs. I recently had the pleasure of working with a couple with three children.  It is one of those great success stories.  The couple met and fell [...]

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Renting vs. Buying in Today’s Market

In any market there are some pretty good rules of thumb when deciding whether it is smarter to rent or buy.  If the cost per square foot to buy is similar or lower than to rent it usually a smarter decision to buy.  While it is true that there are additional expenses involved in owning [...]

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The Perfect Ingredients

When making the perfect Thanksgiving meal it is important to start with the perfect ingredients.  It goes without saying that you need to start with the freshest Turkey.  I love to hear how families improvise around the turkey.  At my family’s Thanksgiving there are 5 kinds of stuffing.  My Mother always makes an oyster dressing [...]

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REO Realities

When a home falls into foreclosure but fails to sell at auction it becomes REO property or bank owned.  Right now there are more REO properties on the market than at any other time.  These properties come in a wide variety of conditions, prices and locations.  There are some important things to remember about REO [...]

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