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What Happens When Homeowners Leave Their Forbearance Plans?
posted by: George Sykes, Broker, Worth Clark Realty on Friday January 29, 2021
According to the latest report from Black Knight, Inc., a well-respected provider of data and analytics for mortgage companies, 6.48 million households have entered a forbearance plan as a result of financial concerns brought on by the COVID-19 pandemic. Here’s where these homeowners stand right now:
2,543,000 (39%) are current on their payments and have left the program
625,000 (9%) have paid off their mortgages
434,000 (7%) have negotiated a repayment plan and have left the program
2,254,000 (35%) have extended their original forbearance plan
512,000 (8%) are still in their original forbearance plan
116,000 (2%) have left the program and are still behind on payments
What Happens When Homeowners Leave Their Forbearance Plans?
posted by: George Sykes, Broker, Worth Clark Realty on Friday January 29, 2021
According to the latest report from Black Knight, Inc., a well-respected provider of data and analytics for mortgage companies, 6.48 million households have entered a forbearance plan as a result of financial concerns brought on by the COVID-19 pandemic. Here’s where these homeowners stand right now:
2,543,000 (39%) are current on their payments and have left the program
625,000 (9%) have paid off their mortgages
434,000 (7%) have negotiated a repayment plan and have left the program
2,254,000 (35%) have extended their original forbearance plan
512,000 (8%) are still in their original forbearance plan
116,000 (2%) have left the program and are still behind on payments
Smart Buyers and Smart Sellers: Class #3 "The Contract"
posted by: George Sykes, Broker, Worth Clark Realty on Friday January 1, 2021
George Sykes, Real Estate Broker with Worth Clark Realty details what every real estate buyer and seller should know about the "Contract To Purchase Real Estate". Buyers and Sellers owe it to themselves to watch this video before they sign their next real estate contract. Understand what you are signing. George Sykes is a licensed Real Estate Broker in Southern Illinois and represents clients in edwardsville, glen carbon, collinsville, granite city, maryville, troy, ofallon, swansea, shiloh and belleville.
Read Full Article ...Smart Buyers and Smart Sellers: Class #3 "The Contract"
posted by: George Sykes, Broker, Worth Clark Realty on Friday January 1, 2021
George Sykes, Real Estate Broker with Worth Clark Realty details what every real estate buyer and seller should know about the "Contract To Purchase Real Estate". Buyers and Sellers owe it to themselves to watch this video before they sign their next real estate contract. Understand what you are signing. George Sykes is a licensed Real Estate Broker in Southern Illinois and represents clients in edwardsville, glen carbon, collinsville, granite city, maryville, troy, ofallon, swansea, shiloh and belleville.
Read Full Article ...Smart Buyers and Smart Sellers: Class #2
posted by: George Sykes, Broker, Worth Clark Realty on Friday December 18, 2020
Class #2: The Listing Agreement
In Smart Buyer and Smart Seller Class #2, George explains what exactly goes into a Listing agreement. This document details key elements of a real estate sale like Price, Commissions, Timing, what stays with the house and Disclosures. If you are selling a property in the Southern Illinois area (edwardsville, glen carbon, collinsville, granite city, maryville, troy, ofallon, swansea, shiloh, belleville) this course is a must see before you list.
Smart Buyers and Smart Sellers: Class #2
posted by: George Sykes, Broker, Worth Clark Realty on Friday December 18, 2020
Class #2: The Listing Agreement
In Smart Buyer and Smart Seller Class #2, George explains what exactly goes into a Listing agreement. This document details key elements of a real estate sale like Price, Commissions, Timing, what stays with the house and Disclosures. If you are selling a property in the Southern Illinois area (edwardsville, glen carbon, collinsville, granite city, maryville, troy, ofallon, swansea, shiloh, belleville) this course is a must see before you list.
Smart Buyers and Smart Sellers: Class #1
posted by: George Sykes, Broker, Worth Clark Realty on Monday December 14, 2020
Real Estate Master Class: Smart Buyers and Smart Sellers
Class #1: Must See Class for Anyone Buying and Selling a Home
Join George as he teaches homeowners, buyers and sellers what they should know before buying or selling a property. This Free Class explains the timeline for both the buyer and the seller and creates a foundation for the "Smart Buyer Smart Seller Real Estate Master Class" series.
Smart Buyers and Smart Sellers: Class #1
posted by: George Sykes, Broker, Worth Clark Realty on Monday December 14, 2020
Real Estate Master Class: Smart Buyers and Smart Sellers
Class #1: Must See Class for Anyone Buying and Selling a Home
Join George as he teaches homeowners, buyers and sellers what they should know before buying or selling a property. This Free Class explains the timeline for both the buyer and the seller and creates a foundation for the "Smart Buyer Smart Seller Real Estate Master Class" series.
Homeownership Helps the Local Economy
posted by: George Sykes, Broker, Worth Clark Realty on Saturday November 28, 2020
Each real estate transaction makes an impact on the local economy, which is a major part of why the housing market is a driver in this year’s economic recovery. This winter is a great time to make a move, so DM me if you’re ready to support our community and find your dream home today.
Read Full Article ...Homeownership Helps the Local Economy
posted by: George Sykes, Broker, Worth Clark Realty on Saturday November 28, 2020
Each real estate transaction makes an impact on the local economy, which is a major part of why the housing market is a driver in this year’s economic recovery. This winter is a great time to make a move, so DM me if you’re ready to support our community and find your dream home today.
Read Full Article ...Why Working from Home May Spark Your Next Move
posted by: George Sykes, Broker, Worth Clark Realty on Monday November 16, 2020
If you’ve been working from home this year, chances are you’ve been at it a little longer than you initially expected. Businesses all over the country have figured out how to operate remotely to keep their employees healthy, safe, and productive. For many, it may be carrying into next year, and possibly beyond.
Read Full Article ...Why Working from Home May Spark Your Next Move
posted by: George Sykes, Broker, Worth Clark Realty on Monday November 16, 2020
If you’ve been working from home this year, chances are you’ve been at it a little longer than you initially expected. Businesses all over the country have figured out how to operate remotely to keep their employees healthy, safe, and productive. For many, it may be carrying into next year, and possibly beyond.
Read Full Article ...Do You Need to Know More about Forbearance and Mortgage Relief Options?
posted by: George Sykes, Broker, Worth Clark Realty on Monday October 19, 2020
Earlier this year when the nation pressed pause on the economy and unemployment rates jumped up significantly, many homeowners were immediately concerned about being able to pay their mortgages, and understandably so. To assist in this challenging time, two protection plans were put into place to help support those in need.
First, there was a pause placed on initiating foreclosures for government-backed loans. This plan started on March 18, 2020, and it extends at least through December 31, 2020. Second, homeowners were able to obtain forbearance for up to 180 days, followed by a potential extension for up to another 180 days. This way, there is a relief period in which homeowners have the opportunity to halt payments on their mortgages for up to one year.
Do You Need to Know More about Forbearance and Mortgage Relief Options?
posted by: George Sykes, Broker, Worth Clark Realty on Monday October 19, 2020
Earlier this year when the nation pressed pause on the economy and unemployment rates jumped up significantly, many homeowners were immediately concerned about being able to pay their mortgages, and understandably so. To assist in this challenging time, two protection plans were put into place to help support those in need.
First, there was a pause placed on initiating foreclosures for government-backed loans. This plan started on March 18, 2020, and it extends at least through December 31, 2020. Second, homeowners were able to obtain forbearance for up to 180 days, followed by a potential extension for up to another 180 days. This way, there is a relief period in which homeowners have the opportunity to halt payments on their mortgages for up to one year.
The Cost of a Home Is Far More Important than the Price
posted by: George Sykes, Broker, Worth Clark Realty on Tuesday September 29, 2020
Housing inventory is at an all-time low. There are 39% fewer homes for sale today than at this time last year, and buyer demand continues to set records. Zillow recently reported: ...
Read Full Article ...The Cost of a Home Is Far More Important than the Price
posted by: George Sykes, Broker, Worth Clark Realty on Tuesday September 29, 2020
Housing inventory is at an all-time low. There are 39% fewer homes for sale today than at this time last year, and buyer demand continues to set records. Zillow recently reported: ...
Read Full Article ...Home Use is Changing
posted by: George Sykes, Broker, Worth Clark Realty on Wednesday September 9, 2020
We’ve seen a lot of change this year, and many of them have impacted the demands made on our homes.
Home Use is Changing
posted by: George Sykes, Broker, Worth Clark Realty on Wednesday September 9, 2020
We’ve seen a lot of change this year, and many of them have impacted the demands made on our homes.
How Will the Presidential Election Impact Real Estate in Places Like Sunset Hills?
posted by: George Sykes, Broker, Worth Clark Realty on Wednesday September 2, 2020
The year 2020 will be remembered as one of the most challenging times of our lives. A worldwide pandemic, a recession causing historic unemployment, and a level of social unrest perhaps never seen before have all changed the way we live. Only the real estate market seems to be unaffected, as a new forecast projects there may be more homes purchased this year than last year.
As we come to the end of this tumultuous year, we’re preparing for perhaps the most contentious presidential election of the century. Today, it’s important to look at the impact past presidential election years have had on the real estate market.
How Will the Presidential Election Impact Real Estate in Places Like Sunset Hills?
posted by: George Sykes, Broker, Worth Clark Realty on Wednesday September 2, 2020
The year 2020 will be remembered as one of the most challenging times of our lives. A worldwide pandemic, a recession causing historic unemployment, and a level of social unrest perhaps never seen before have all changed the way we live. Only the real estate market seems to be unaffected, as a new forecast projects there may be more homes purchased this year than last year.
As we come to the end of this tumultuous year, we’re preparing for perhaps the most contentious presidential election of the century. Today, it’s important to look at the impact past presidential election years have had on the real estate market.
