Paddy Deighan Real Estate Blog

The FHA is at 'high risk" of failure. Why are we all not surprised? A government agency that cannot maintain financial feasibility!   For something completely different,   it appears that another government agency is not functioning properly. The Government Accountability Office (GAO) has some se...

The United States Congress is making an attempt to repair a perceived broken housing finance system. Members of the House of Representatives are preparing a revised version of the Protecting American Taxpayers and Homeowners (PATH) act. The revisions  would end the federal bailout of GSEs Fannie ...

OK, it is once again Meet up time. Kerrie has given us the dates!!  I will hosting a Meet Up group in Las Vegas (the Giant Litter Box). Event will be hosted at the pool deck of Sky Las Vegas, 2700 Las Vegas Blvd S Las Vegas Nevada 89109. Sky is located across from that pillar of Vegas progress, T...

There are changes looming in the guidelines which Fannie Mae and Freddie Mac utilize relative to the multiple listing services (MLS). Beginning August 1st, each new short sale listing must maintain an “active” status for a minimum of five days. Additionally, the five days must include a weekend. ...

There are a dramatic number of deficiency judgment lawsuits being filed. Many experts predicted this and it is happening. There is just too much money sitting out there for the lenders to ignore.   Many states have lengthy statute of limitations and lenders are taking advantage of it. Additionall...

A story from Mensa that is pretty interesting. A Cornell electrical engineering professor is helping art historians do a little detective work by using computing algorithms to identify which of Vincent Van Gogh's paintings came from the same original rolls of canvas.Richard Johnson Jr. is on leav...

New York is making best use of the money that it received from the Attorney General foreclosure lawsuit. New York attorney general Eric Schneiderman played a key role in negotiating the settlement and he earned significant money for his own state. In last year’s foreclosure abuse settlement with ...

There is additional (hopefully) good news in regard to loan modifications. Fannie Mae and Freddie Mac want to change the terms of your mortgage – AND, best of all…they want to do so QUICKLY!!! Yes, Government and quickly can exist in the same sentence sometimes!!   The Troublesome Twins may hopef...

Top Markets for Short Sales, Part 2.  Last week I wrote about Las Vegas (read the blog here). This week, I review two more areas. Many real estate investors believe that short sales are a thing of the past. There are so many local, state, and federal regulations that govern these transactions. Re...

I have been surprised that there is very little in the media about this. Indy Mac is selling its servicing to Ocwen. IndyMac is the mortgage management division for OneWest, a bank headquartered in Pasadena, Calif. OneWest is the successor to IndyMac Bancorp, which was seized by the Federal Depos...