Thursday, February 26, 2009

$114,500 3 br 2 ba Craftsman in Nampa

3 Br 2 Ba 2 Car Garage, Single Level, 1406 SF

Short Sale. Currently tenant occupied. Stainless steel appliances and hardwood floors in kitchen. Open and spacious dining and living room area. Nice and new. Centrally located near shopping and freeway access. Please call me at 208 939 9033 ext 2 or email me at Please visit my website at or LinkedIn Profile

Michael Hon
Broker - MBA, GRI


Certified Short Sale Specialist
Investment Property Consultant

Office 208 939 9033 ext 2

Friday, February 20, 2009

My War on Foreclosures

According to a report on 60 Minutes last Dec. called The Mortgage Meltdown, the number of foreclosures that we will face in the next 12 - 36 months is frightening. The next wave of loan defaults will come from Alt-A and Payment Option Arm loans.

Watch CBS Videos Online

How do we deal with this next wave? Pres. Obama's Housing Affordability and Stability plan is a start but I think the administrative aspect is unwieldy at best. There are still a huge number of homeowners that will face foreclosure no matter what. Homeowners that don't meet the criteria of the HASP or those that don't have FNMA or FRMC backed loans. If you think about it, it's almost as devastating as terrorists driving jumbo jets into the World Trade Center. A veritable foreclosure tsunami.

How do we stop this wave? Can we stop it or slow it down? To take a line from Pres. Obama, Yes We Can; one real estate short sale at a time.

I know there are thousands of other Real Estate Brokers / Agents like myself that are focusing on successfully closing short sales across the country. The lenders that hold these loans are for the most part, not very helpful. Their organizations are byzantine at best and they seem to be adding gasoline to the fire by not cooperating with the foot soldiers in this war, i.e. - my fellow RE Brokers and Agents across the country.
This is why I am focusing my real estate practice on helping distressed homeowners short sell their properties. This is My War on Foreclosures. Please visit my website, or my LinkedIn profile. 


Michael Hon
Broker / Owner
Certified Short Sale SpecialistTM

Wednesday, February 18, 2009

Homeowner Affordability and Stability Plan

Dear Readers:

Here is a link to the new Homeowner Affordability and Stability Plan issued by the Obama Administration today. Here is another link to a NY Times article about the plan.

Mike Hon
Certified Short Sale Specialist
Iron Eagle Realty

Search This Blog

REC News Center