Adverse Credit Impacts

by Cory Maguire on January 3, 2011

This recent report from the National Association of Realtors outlines how long after a foreclosure, bankruptcy, or short sale you will have to wait before being eligible for another home loan from Fannie Mae, Freddie Mac, or the FHA. The rules vary for different kinds of bankruptcies and foreclosures, so it is always best to consult your realtor or loan agent for the latest figures.

Adverse Credit Impacts Report
(Clicking this link will open a PDF file. Right-click to download.)

“Shadow Inventory” of Homes Slows Market

by Cory Maguire on December 6, 2010


There’s a large number of homes, either already repossessed by lenders or very seriously delinquent, that are poised to be added to the already glutted regular supply of homes on the market….

Adding the shadow inventory to the visible supply of homes on the market boosted the total housing-market supply to 6.3 million units from 6.1 million in August 2009. At the current sales rate, it would take 23 months to go through the entire visible and shadow inventory of homes — more than three times the normal rate of six to seven months.

This news may mean another 8% drop in home prices, especially here in California, which has one of the highest ratios of distressed properties to sales. Read the whole article here, and call us if you have questions about your own property going forward into 2011.