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May 2012 Archives

Short sale may be the best choice for seller, buyer and lender

The lagging South Carolina housing market, coupled with a sluggish job market, has left many residents in a state of confusion and worry. Although the economy is beginning to improve, many homeowners are still in a bind. They fear that they will lose their homes due to foreclosure and know that they will probably not be able to sell their home at a rate that will allow them to pay back their mortgage obligations.

Federal program eases refinancing of underwater home mortgages

Many South Carolina homeowners struggle to make their monthly house payments as their property value is less than what they owe on their home loan. People in this situation often face difficulty with mortgage refinancing as they try to lower their interest rates and monthly payments. Fortunately, a federal program designed to make the refinancing process easier will soon come into effect.

Role of foreclosure settlement cash raises fear in South Carolina

A couple of months ago, distressed homeowners welcomed the announcement of a settlement with major mortgage lenders for their deceptive foreclosure practices. Now, portions of the $25 billion settlement are being disbursed throughout the 50 states. South Carolina leaders are questioning how to best utilize the foreclosure settlement funds.

Lenders issue new rules for making short sales

As the national trend of turning to short sales instead of foreclosure grows, federal officials have responded to concerns that the overall process takes too long. Recently, Fannie Mae and Freddie Mac announced a new set of guidelines for mortgage lenders that is designed to speed up the short sale process for homeowners looking to sell their property. This is positive news for South Carolina homeowners looking to avoid foreclosure.

Downtown Charleston housing up for auction, negotiations ensue

At the height of the housing market nearly four years ago, residential real estate construction was on the move. During this time, developers built and attempted to sell high-end condominiums in downtown Charleston, South Carolina. Shortly thereafter, the housing market fell apart and the sellers were not able to move the property as they desired.

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North Charleston, SC 29406
Phone: 843-553-9800
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1100 Queensborough Blvd, Suite 102
Mt. Pleasant, SC 29464
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Fax: 843-216-0930
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3040 Highway 17-A North, Suite B
Mt. Pleasant, SC 29466
Phone: 843-388-3250
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West Ashley office
873 Orleans Road, Suite 102 1/2
Charleston, SC 29407
Phone: 843-571-2996
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Fax: 843-571-2998
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Summerville office
106 West 7th North St
Summerville, SC 29483
Phone: 843-875-7111
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Fax: 843-875-7721
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567 Crowfield Blvd.
Goose Creek, SC 29445
Phone: 843-553-9100
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Fax 843-553-9183
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