Explore Wicomico County, MD

View all cities
By Mike Young, FHA 203k Consultant 916-758-1809
(203kOnLine.com, covering the USA)
Comments 3
What is the maximum number of draws on a 203k project?I have had a major lender turn down a loan when our contractor requested 10 draws @$30,000 for a $300,000 construction amount.I set in on a Denver HOC web-cast as I thought we would get some new input or incite. Sadly they were merely reading from the 1994 manual, and mis-reading this portion as so many do. 4240.4 Rev-2 states "Intermediate draws (four maximum) [and one final draw] are inspected by the HUD assigned fee (or DE staff, where applicable) inspector (see paragraph 4-9)."It goes on to state "If the cost of rehabilitation exceeds $10,000, then additional draw inspections are authorized provided the lender and borrower agree in writing, and the number of draw inspections are shown on Form HUD 92700, 203(k) Maximum Mortgage wo...
By Brandon Brittingham
(www.easternshorehomesolutions.com)
Comments 21
 Exclusive Short Sale  interview with Laurie Maggiano From The US Treasury You may not be aware of the role the US Treasury has played in the housing market over the last few years, but it has had a huge role in getting us on the road to recovery. There is no one single person who has been as influential as Laurie Maggiano, who is one of the architects of the government-backed Making Home Affordable program which created uniform guidelines for loan modifications, HAFA short sales, and foreclosure prevention. Laurie is the Director of Policy for this office at the Treasury Dept. Laurie used to be involved in real estate as a broker and has worked for FHA and in many other housing related positions.     Laurie’s work at Treasury helped servicers and investors not only adopt HAFA short sal...
By Brandon Brittingham
(www.easternshorehomesolutions.com)
Comments 0
    Bank of America Cooperative Short Sale Program Guidelines and InformationBank of America Co-op short sale program 2012-2013In an attempt to help prevent more people from going to foreclosure, Bank of America has been beta-testing a pilot program called the cooperative short sale program for the last couple of years. The program has worked so well that they have now started to institute it on a broader scale. Cooperative short sales take less time, and generally require less paperwork. Cooperative short sales also offer relocation money above the typical $3000 offered through programs like HAFA. Here are a couple of key points for both realtors and homeowners about the program:Highlights of the program:1. Most cooperative short sales from BOFA fully release the homeowner from deficie...
By Brandon Brittingham
(www.easternshorehomesolutions.com)
Comments 2
Chase short sale process and timeline     In an attempt to help more consumers who are facing foreclosure Chase has streamlined their short sale process to expedite the short sale process. We will cover the basics on the process and timeline in this article. Chase will let you start the short sale process prior to having an offer on your property but in order to start the process you have to show a legitimate financial hardship, meaning something has happened since you have taken out the loan that has changed your financial picture. Here are examples of what most lenders and investors accept as hardships: Hardships to Qualify for a Short Sale: Loss of employment Business Failure Damage to the property(could have been under insured) Death of a Spouse of wage earner Death of a non-wage ea...
By Brandon Brittingham
(www.easternshorehomesolutions.com)
Comments 3
  When you’re looking to do a short sale, one of the first things to do is find out who owns your loan! Chances are the company you are paying your mortgage payment to, may not actually own the loan, they just may be the "servicer" of your loan.A short sale can be a very complex process, and every bank and investor has different programs and guidelines that they follow.One of the best things you can do whether you are a homeowner in need of help on a short sale, or an agent trying to help a homeowner, is to understand the situation you are getting in to. One of the key pieces of this short sale puzzle is finding out who actually “owns” the loan, not just who services the loan.To understand short sales you have to have some knowledge of the back end of the mortgage market to understand t...
By Brandon Brittingham
(www.easternshorehomesolutions.com)
Comments 0
  Interviewing Abel Fregoso, National short sale Field manager for Wells Fargo Wells Fargo short sale process and Changes for 2012-2013 In an attempt to continually refine the short sale process Wells Fargo has recently made some changes to it's short sale process to help the homeowner and real estate agent get through a more fluid short sale process. I recently sat down with the national short sale manager and VP of short sales for Wells Fargo who let us  video interview  him and let us record a webinar training which can be viewed up at www.shortsalecampus.com. Below is what he covered and what we learned:  Wells Fargo has adopted the recent HAFA guideline changes (Home Affordable Foreclosure Alternative) for the benefit of the consumer and real estate agent which include:• $3000 rel...
By Gloria Todor, & Doug Durren (484) 431-3686 in SE PA
(Berkshire Hathaway Home Services)
Comments 16
A slower pace on the Eastern Shore in Maryland - Ferry on the Wicomico River
By Brandon Brittingham
(www.easternshorehomesolutions.com)
Comments 4
Since I get so many inquiries from consumers asking generally the same questions as it relates to foreclosures and short sales I have decided to do a blog series where I will post two questions every few days. See below the first two questions to start the series:Commonly asked Foreclosure QuestionsWhat takes place if I miss my mortgage payments or I am behind on my mortgage payments?Foreclosure can occur, but it does not have to and can certainly be avoided. You can take action to stop foreclosure, even if foreclosure has been filled against you. You now have more options than ever to prevent your home from going to foreclosure. The consequences of foreclosure can have lasting effects on your credit, and you may still owe the bank and the IRS money afterwards. Foreclosure does not wipe...
By Brandon Brittingham
(www.easternshorehomesolutions.com)
Comments 1
Acceptable Types of Hardship in the eyes of a bank when it comes to a short sale: Seeing as one of biggest determining factors when applying for a short sale is a viable hardship, I have taken the time to go over what is commonly accepted by every bank when it comes to hardship. Regardless of hardship remember whatever your hardship is, you have to be able to prove it to the bank.   There is  plenty of misconception it seems when it comes to someone understanding what a bank qualifies as an acceptable hardship for a short sale. Although there are exceptions to the rule, for the most part, banks take the approach of verifying that you have a hardship that prevents you from paying your mortgage, and that the hardship occurred after you took the loan out. Remember banks verify this through...
By Brandon Brittingham
(www.easternshorehomesolutions.com)
Comments 0
See below here are the basic qualifications for a short sale, I hear the question all the time " how exactly do I qualify for a short sale" Although there are a few exceptions this covers the broad base of what all the banks agree on. There are some "grey" areas but this is a basic over view.1. Need to sell : Meaning that this not just a want to sell, because of certain circumstances the homeowner needs to sell(usually caused by some type of financial hardship)In this situation no other work out options will alleviate the hardship, causing the homeowner to have to sell the property. The homeowner may have lost equity and wants to sell, that does not mean they qualify for a short sale.2. Hardship Here is something that a lot of people over look or have confusion on. As mentioned before d...
By John Wingate, Salisbury MD Real Estate, 302.339.5185, Salisbury, MD Homes
(EXIT Shore Realty)
Comments 0
Fruitland, Wicomico County, MD Schools   Fruitland Intermediate School 3rd Grade to 5th Grade :: Wicomico County Board of Education   Fruitland Primary School Pre-Kindergarten to 2nd Grade :: Wicomico County Board of Education   Stepping Stones Learning Academy Pre-Kindergarten to 4th Grade :: Nonsectarian Private School Hebron, Wicomico County, MD Schools Westside Intermediate School 2nd Grade to 5th Grade :: Wicomico County Board of Education   Mardela Springs, Wicomico County, MD Schools   Maple Shade School 2nd Grade to 10th Grade :: Nonsectarian Private School   Mardela Middle & High School 6th Grade to 12th Grade :: Wicomico County Board of Education   Northwestern Elementary School Pre-Kindergarten to 5th Grade :: Wicomico County Board of  Parsonburg, Wicomico County, MD Schools ...
By John Wingate, Salisbury MD Real Estate, 302.339.5185, Salisbury, MD Homes
(EXIT Shore Realty)
Comments 3
Mardela Springs drew English Settlers in 1664, because of the good farmland, natural springs, and Barren Creek, a tidal waterway draining into the Nanticoke River. This was great for the Tobacco farmers, because they could bring their crops. In 1704, a tobacco inspection warehouse was built and several grist and saw mills were built along the creek. The late 1700s a hotel had been built near the natural springs, which was a very  convenient restarea for travelers on the main road from the north to Quantico and Princess Anne. The springs became a great tourist attraction in the 1840-1890 period; visitors from Philadelphia, Baltimore, Washington, and Richmond came to “take the waters.” In the latter part of the 19th century, enterprising townsmen began bottling the water and shipping it t...
By John Wingate, Salisbury MD Real Estate, 302.339.5185, Salisbury, MD Homes
(EXIT Shore Realty)
Comments 3
The town of Hebron is located at the axis of land between the Atlantic Ocean and the Chesapeake Bay. It was, as many small towns were and many still are, a collection of buildings amidst an expanse of farms and woodlands. The farms and woodlands around Hebron were first populated principally by Virginians who came to seek land and a closer proximity to northern markets. Some came to enjoy the greater religious freedom available in Maryland and some of the first to settle on the Wicomico River were Quakers after Virginia outlawed the religion in 1660, although, most settlers came for the fifty free acres given away by the Maryland Propriety government. Hebron lies six miles from both Salisbury and Quantico, communities established in the pre-Colonial era. At the juncture of Route 50 and ...
By Brandon Brittingham
(www.easternshorehomesolutions.com)
Comments 0
It seems that there is a significant amount of confusion when it comes to purchasing a short sale. There is a lot of confusion and misconception when it comes to these types of transactions, so below I have provided some information to potential buyers of short sales. If you are looking to purchase a short sale, understand that it is not the same as a normal sale and the approach is very different. There could be several parties involved and issues that are unknown to the buyer and buyer’s agent that can affect the transaction. If you are looking to purchase a short sale here is some helpful information.1. On average to get a short sale approval it can take 60-90 days. There could be mortgage insurance and an end investor on the loan as well as the servicer, which means it has to go thr...
By John Wingate, Salisbury MD Real Estate, 302.339.5185, Salisbury, MD Homes
(EXIT Shore Realty)
Comments 5
Salisbury, MD was created in 1732. Salisbury is at the head of the Wicomico River and this was the only navigable way for settlers out of the Chesapeake Bay. Also in 1732, Salisbury was made an official port and the only other port in Maryland besides Baltimore.  The old logo of Salisbury, Md was, "THE HUB OF THE EASTERN SHORE" could not have a been a better saying for this wonderful town. Salisbury, MD has grown with commerce and culture and having an airport built. They built the Salisbury Airport to be part of World War III military operations and now is a regional terminal.  Salisbury, MD is home of Salisbury University with Wor-Wic Community College down the road. Salisbury is a growing town with lots of culture and history.   Downtown Statue in Salisbury, MD   Downtown Walkway   D...
By Sam Slabaugh, Financial Planner Serving, Maryland, Delaware, Salisbury,
(EST Financial Group)
Comments 0
  About two out of three American workers are saving for retirement, but less than half are confident that they will have enough money to live comfortably throughout their retirement years.1 However, even those who are confident may not have realistic expectations. Consider that a $250,000 account earning a 5% annual return could provide an income of about $1,000 per month (without dipping into principal). Yet only 10% of workers have savings of $250,000 or more.2 Saving for retirement might seem daunting, but you may be able to increase the amount you are saving without making huge sacrifices. Taking some small steps today might make a big difference when you are ready to retire. Save an extra 1% of your salary each year. Raising your retirement contribution in small increments may no...
By Lenn Harley, Real Estate Broker - Virginia & Maryland
(Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate)
Comments 3
FARMS AND LAND FOR SALE ON THE EASTERN SHORE OF MARYLAND FARMS AND LAND ON THE MARYLAND EASTERN SHORE. Farms, farm land, acreage, land for sale on the Eastern Shore of Maryland in Caroline, Cecil, Dorchester, Kent, Queen Anne’s,Somerset, Wicomico, Worchester, Talbot Counties. Our experience for many years helping home buyers and sellers manage the purchase and sale of Eastern Shore farm land and operations will help you find the type of property you want. SCENES FROM MARYLAND’S EASTERN SHORE - PERFECT FARM COUNTRY, FRIENDLY FOLKS AND LAND, LAND, LAND.   Horse farms are priced right on the Maryland Eastern Shore Farms that specialize in the raising of chickens, alpaca, llama, horses, hogs, pond fish are all priced right on the Maryland Eastern Shore farm acreage. For a tour of farms for...
By Brandon Brittingham
(www.easternshorehomesolutions.com)
Comments 0
  Wicomico County Housing Report July 2011 We just got the numbers for the Wicomico County Housing report for July, see below and we will take a few minutes to go through them. UNIT’S SOLD: There was a decrease in total units sold in July, with 60 sold this month in Wicomico County Real Estate versus 63 last month, a decrease of 5%. This month's total units sold were higher than at this time last year, an increase of 3% versus July 2010. So fewer units than in June, but more units sold than last July, which is certainly a good thing! INVENTORY: Versus last year, the total number of homes available this month is lower by 163 units or 17%. The total number of active inventory this July was 811 compared to 974 in July 2010. This month's total of 811 is lower than the previous month's tota...

Wicomico County, MD Real Estate Professionals