SHORT SALE - 3BR/2BA Single Ranch in Murfreesboro TN

SHORT SALE - 3BR/2BA Single Ranch in Murfreesboro TN.  See details and more photos here.

If you are a Middle TN homeowner, property owner, condo owner, real estate investor, home builder or real estate developer who cannot pay your mortgage payments (due to losing your job, having your income reduced, illness, health problems, adverse business conditions, slow sales, loss of investment property tenants, vacancy issues, lack of funds to complete the project, feuding business partners, etc.), know that you will not be able to pay your mortgage, have defaulted on your mortgage, are already in foreclosure, or owe more than your home is worth, please contact me to discuss your options including a loan modification and a short sale (a real estate short sale occurs when the sale proceeds are not sufficient to pay off all the mortgages and liens on the property/home). I am a Middle Tennessee distressed real estate, short sale, pre-foreclosure (preforeclosure) and foreclosure REALTOR and Expert. I primarily help sellers (homeowners, property owners, condo owners, owners of high end homes and properties (estate homes, luxury homes and executive homes), real estate investors, home builders and real estate developers) of distressed real estate, short sales, pre-foreclosures, foreclosures, investment properties, failed new construction projects and struggling commercial real estate developments located in Middle Tennessee (Rutherford County TN, Williamson County TN, Davidson County TN, Robertson County TN, Maury County TN, Murfreesboro TN, Smyrna TN, La Vergne TN, Eagleville TN, Lascassas TN, Rockvale TN, Christiana TN, Brentwood TN, Franklin TN, Nashville TN, Belle Meade TN, Nolensville TN, Spring Hill TN, Gallatin TN, Springfield TN and Mt. Juliet TN).  If you do need to short sell your home or property, or you need a quick sale due to being in foreclosure, you can request short sale and foreclosure help and assistance on my website at Get Short Sale and Foreclosure Help and Assistance from a Middle Tennessee Short Sale and Foreclosure REALTOR and Real Estate Expert.

Listed By:
James W. McCormack
Broker, REALTOR, e-PRO

Exit Realty Network
2656 Rideout Lane
Murfreesboro, TN 37128

Office 615-494-5963
Direct 615-796-6898

Web www.JimTheRealEstateExpert.com
Blog www.HaltingForeclosures.com

Recession 2 Coming Soon?

Recession 2 Coming Soon?

According to this BusinessWeek article, Krugman Sees 30-40% Chance of U.S. Recession in 2010 (Update1), there is a good chance that rising interest rates (caused largely by the end of the massive $1.25 trillion mortgage securities purchase program and the $175 billion Fannie Mae/Freddie Mac/Ginnie Mae mortgage securities purchasing programs in April 2010) that we could experience another recession in 2010. The article states that Paul Krugman, a Nobel Prize winning economist and economics professor at Princeton University, believes that there is about a 30% to 40% chance of a recession in the 2nd half of 2010 and that the chance of growth slowing down enough such that unemployment increases again is more than 50%. Krugman also said that mortgage rates will go up some and housing sales may decline. The real issue here (not mentioned in the article) is the entire US economy is based on debt, not income, assets and productivity. This debt is what fueled consumer spending. Now that debt is right near the ceiling there is just not much chance that massive government spending and subsidizing of interest rates will have any lasting effect. My opinion is that we will see another recession and this one will be worse than the 1st one since the government will have made things worse with all the borrowing and spending. As a result, housing will decline and there will be more short sales and foreclosures.

If you are a Middle TN homeowner, property owner, condo owner, real estate investor, home builder or real estate developer who cannot pay your mortgage payments (due to losing your job, having your income reduced, illness, health problems, adverse business conditions, slow sales, loss of investment property tenants, vacancy issues, lack of funds to complete the project, feuding business partners, etc.), know that you will not be able to pay your mortgage, have defaulted on your mortgage, are already in foreclosure, or owe more than your home is worth, please contact me to discuss your options including a loan modification and a short sale (a real estate short sale occurs when the sale proceeds are not sufficient to pay off all the mortgages and liens on the property/home). I am a Middle Tennessee distressed real estate, short sale, pre-foreclosure (preforeclosure) and foreclosure REALTOR and Expert. I primarily help sellers (homeowners, property owners, condo owners, owners of high end homes and properties (estate homes, luxury homes and executive homes), real estate investors, home builders and real estate developers) of distressed real estate, short sales, pre-foreclosures, foreclosures, investment properties, failed new construction projects and struggling commercial real estate developments located in Middle Tennessee (Rutherford County TN, Williamson County TN, Davidson County TN, Robertson County TN, Maury County TN, Murfreesboro TN, Smyrna TN, La Vergne TN, Eagleville TN, Lascassas TN, Rockvale TN, Christiana TN, Brentwood TN, Franklin TN, Nashville TN, Belle Meade TN, Nolensville TN, Spring Hill TN, Gallatin TN, Springfield TN and Mt. Juliet TN).  If you do need to short sell your home or property, or you need a quick sale due to being in foreclosure, you can request short sale and foreclosure help and assistance on my website at Get Short Sale and Foreclosure Help and Assistance from a Middle Tennessee Short Sale and Foreclosure REALTOR and Real Estate Expert.

SHORT SALE - 2BR/1BA Condo in Town Center Homes at Lenox Village

SHORT SALE - 2BR/1BA Condo in Town Center Homes at Lenox Village. See details and more photos here.

Jim McCormack Broker, REALTOR, e-PRO Real Estate Consultant Exit Realty Network 2656 Rideout Lane Murfreesboro, TN  37128 TN Real Estate Broker License# 320030

Office  (615) 494-5963  Direct  (615) 796-6898 Web www.JimTheRealEstateExpert.com Blog www.HaltingForeclosures.com ActiveRain Jim McCormack on ActiveRain Zillow Jim McCormack on Zillow Trulia Jim McCormack on Trulia BrokerAgentSocial Jim McCormack on BrokerAgentSocial LinkedIn Jim McCormack on LinkedIn Google Jim McCormack on Google Twitter Jim McCormack on Twitter

Short Sale, Foreclosure, Distressed Real Estate and Investment Property Real Estate Service Areas in Middle Tennessee: Rutherford County Tennessee Williamson County Tennessee Davidson County Tennessee Maury County Tennessee Robertson County Tennessee Murfreesboro Tennessee Smyrna Tennessee La Vergne Tennessee Eagleville Tennessee Lascassas Tennessee Rockvale Tennessee Christiana Tennessee Brentwood Tennessee Franklin Tennessee Nashville Tennessee Belle Meade Tennessee Nolensville Tennessee Spring Hill Tennessee Mt. Juliet Tennessee Springfield Tennessee

I am a Middle Tennessee distressed real estate, short sale, pre-foreclosure (preforeclosure) and foreclosure REALTOR and Real Estate Expert. I primarily help sellers (homeowners, property owners, condo owners, owners of high end homes and properties (estate homes, luxury homes and executive homes), real estate investors, commercial real estate owners, home builders and real estate developers) of distressed real estate, short sales, pre-foreclosures, foreclosures, investment properties, failed new construction projects and struggling commercial real estate developments located in and around Middle Tennessee.

SHORT SALE - 3BR/3.5BA Custom Single Home in Springfield TN

SHORT SALE - 3BR/3.5BA Custom Single Home in Springfield TN. See details and more photos here.

James W. McCormack Broker, REALTOR, e-PRO Exit Realty Network 2656 Rideout Lane Murfreesboro, TN 37128 Office (615) 494-5963 Direct (615) 796-6898 Web www.JimTheRealEstateExpert.com Blog www.HaltingForeclosures.com ActiveRain Jim McCormack on ActiveRain Zillow Jim McCormack on Zillow Trulia Jim McCormack on Trulia BrokerAgentSocial Jim McCormack on BrokerAgentSocial LinkedIn Jim McCormack on LinkedIn Google Jim McCormack on Google Twitter Jim McCormack on Twitter

I am a Middle Tennessee distressed real estate, short sale, pre-foreclosure (preforeclosure) and foreclosure REALTOR and Real Estate Expert. I primarily help sellers (homeowners, property owners, condo owners, owners of high end homes and properties (estate homes, luxury homes and executive homes), real estate investors, commercial real estate owners, home builders and real estate developers) of distressed real estate, short sales, pre-foreclosures, foreclosures, investment properties, failed new construction projects and struggling commercial real estate developments located in and around Middle Tennessee.

Fannie Mae and Freddie Mac Foreclosures Surge

Fannie Mae and Freddie Mac Foreclosures Surge

According to this Real Estate Economy Watch article, Fannie Mae’s Delinquencies Rise 163 Percent in 12 Months, Fannie Mae (the Federal National Mortgage Association, or FNMA) in October 2009, mortgage loan delinquencies rose significantly.  The percentage of "seriously delinquent mortgage loans" in Fannie Mae's portfolio increased 26 basis points for a new total of 4.98%. In September 2008, when the US Treasury took over Fannie Mae and Freddie Mac (the Federal Home Loan Mortgage Corporation, or FHLMC) and placed these government-sponsored enterprises (GSE's) into conservatorship, that same "seriously delinquent mortgage loans" figure was just 1.89%. That is an increase of 309 basis points, or 163%.  Single family mortgage loans are defined as "seriously delinquent mortgage loans" if they are 90 days or more past due, or in the foreclosure process.  Multifamily mortgage loans aredefined as "seriously delinquent" if they are are 60 days or more past due. According to the article "Seriously delinquent loans eat into the company’s capital and forced borrowing from the U.S. Treasury."  Freddie Mac’s single family mortgage loan delinquency increased to a new record of 3.54% of its portfolio.  According to the article, this was the 30th straight month in which delinquencies have increased.  This is probably why the US Treasury has removed the limit on the Fannie Mae/Freddie Mac loan guarantees - they know that the losses will far exceed the previous limit.  As I have been saying since early-mid 2006, this is only going to get worse.  Fannie Mae, Freddie Mac, Ginnie Mae (buys FHA loans) and commercial banks will all be forced to handle more short sales, or risk being deluged by an overwhelming number of foreclosures.

If you are a Middle TN homeowner, property owner, condo owner, real estate investor, home builder or real estate developer who cannot pay your mortgage payments (due to losing your job, having your income reduced, illness, health problems, adverse business conditions, slow sales, loss of investment property tenants, vacancy issues, lack of funds to complete the project, feuding business partners, etc.), know that you will not be able to pay your mortgage, have defaulted on your mortgage, are already in foreclosure, or owe more than your home is worth, please contact me to discuss your options including a loan modification and a short sale (a real estate short sale occurs when the sale proceeds are not sufficient to pay off all the mortgages and liens on the property/home). I am a Middle Tennessee distressed real estate, short sale, pre-foreclosure (preforeclosure) and foreclosure REALTOR and Expert. I primarily help sellers (homeowners, property owners, condo owners, owners of high end homes and properties (estate homes, luxury homes and executive homes), real estate investors, home builders and real estate developers) of distressed real estate, short sales, pre-foreclosures, foreclosures, investment properties, failed new construction projects and struggling commercial real estate developments located in Middle Tennessee (Rutherford County TN, Williamson County TN, Davidson County TN, Robertson County TN, Maury County TN, Murfreesboro TN, Smyrna TN, La Vergne TN, Eagleville TN, Lascassas TN, Rockvale TN, Christiana TN, Brentwood TN, Franklin TN, Nashville TN, Belle Meade TN, Nolensville TN, Spring Hill TN, Gallatin TN, Springfield TN and Mt. Juliet TN).  If you do need to short sell your home or property, or you need a quick sale due to being in foreclosure, you can request short sale and foreclosure help and assistance on my website at Get Short Sale and Foreclosure Help and Assistance from a Middle Tennessee Short Sale and Foreclosure REALTOR and Real Estate Expert.