The Associated Press: Citi to suspend foreclosures for 30 days

Great news for some homeowners facing foreclosures. Citi has decided to suspend all foreclosure and evictions starting today and ending January 17th 2010. This suspension only applies to mortgages owned by Citi. Please note that some people may pay Citi, but the mortgage is not owned by Citi. Merry Christmas. If you have any questions, I would direct them to:  The Office of Homeownership Preservation today. By Phone: 1-866-915-9417 Via e-mail: mortgagehelp@citi.com
The Associated Press: Citi to suspend foreclosures for 30 days

How to Ask The Right Questions When Buying a Short Sale Property | eHow.com

Short sales, simply put, are very complicated. This article is meant for potential buyers who are thinking of writing an offer on a short sale. What is a short sale? A short sale is when the bank(s) who is holding the mortgage(s) agrees to take less than what is owed in order to avoid foreclosure. There is no sure fire way to know which short sale will be approved and which ones will not. The key to any short sale is a lot of patience. Be prepared to wait 6 months or more for a short sale to get approved. The other difficulty with short sales is that not all short sales get approved. I have heard statistics that only 1 in 8 short sales are approved. I’ve seen other statistics that only 1 in 10 short sales are approved. These questions will help you figure out which properties have a better likelihood of getting approved and finally go to settlement.  Click Here to continue Reading....How to Ask The Right Questions When Buying a Short Sale Property | eHow.com 

Maryland Million Dollar Foreclosures

Here are the most expensive foreclosures in Maryland Active in the MLS (multiple listing service) as of 12/01/2009.  I get this question a lot and so I decided to blog this list.  This just goes to show that we are all in this together and no one is immune from the foreclosure monster.

• $3,499,000 - 8 bedrooms, 10 full baths, 5 half bathrooms on 32 acres of land in Worton, Maryland.
• $1,995,000 - 5 bedrooms, 4 full baths, 1 half bath on .73 of an acre of land in Bethesda, Maryland
• $1,695,000 - 2 bedrooms, 3 full baths, farm on 150 acres of land in Frederick, Maryland
• $1,294,000 - 6 bedrooms, 5 full baths, 2 half baths on 2 acres of land in Potomac, Maryland
• $1,133,000 - 6 bedrooms, 5 full baths on .58 of an acre of land in Rockville, Maryland
• $1,002,000 - 5 bedrooms, 3 full baths, 1 half bath on .20 acre of land in Rockville, Maryland

Just a note:  These properties are not listed by my company and are posted on this site for informational purposes only.