Distressed Homeowners
Homeowners Facing Foreclosure Demand Proof of Mortgage Ownership
As Florida foreclosures continue to soar, homeowners have found a way to delay lenders from taking over their distressed properties: proof of mortgage ownership.
How Foreclosures Can Ruin Friendships
Henry Paulson, the Treasury Secretary and Barney Frank, the House Financial Services Committee Chairman used to be best friends; but now — not so much anymore.
The conflict between the two started when Frank criticized Paulson for using funds from the $700 billion Wall Street bailout in support of Citigroup before allocating the funds to ease [...]
Ed Mc Mahon Successfully Avoided Foreclosure
A couple of months ago, the entire nation was surprised to hear that television personality Ed McMahon is facing foreclosure. Even though his home has been for sale for nearly two years, there were no interested buyers. Unable to satisfy the $4.8 million mortgage debt, McMahon ended up facing foreclosure.
Great News for Homeowners
Government officials and top level real estate industry executives are on their feet now to tackle the slow market caused by foreclosure homes. New initiatives have been designed and implemented to check the increasing number of foreclosure homes in New Jersey. Much of the initiative focuses on helping the homeowners retains their homes by assisting them in re-doing their finances. There are collaborations between banks and public welfare organizations to decrease the rate of foreclosure homes.
Australian Lending Situation Has Parallels in United States
An interesting development in the Australian housing market could be a lesson to lenders and legislators here in the states. Australia’s housing market is in no way in the poor shape that America’s is, as they experience a much lower rate of default and foreclosure than we currently do. However, due to the new introduction of non-bank lenders in the country in the past few years, the banking industry has seen the margin borrowers pay has slipped. While in the past borrowers paid around 4% above the cash rate, only one year ago that figure had fallen drastically to nearly 2.2%.
Is Project Lifeline Reaching Homeowners in Need?
After the federal government announced Project Lifeline, a program that offers homeowners the chance to slow the foreclosure and default process and get a chance to catch up with their loan payments, many homeowners rushed to take advantage of its benefits. However, while the program does have some benefits and can help homeowners renegotiate loans [...]
Choosing the Right Fixer Upper
Many seasoned investors go around looking for properties that could be repaired or renovated and then sold once again for a considerable profit. In the industry, it is basically referred to as ‘flipping’.
One of the first things to consider is where to buy. There are actually cities like Dallas with thriving housing markets despite the [...]
Options for Distressed Homeowners
Considering the problems in the housing, credit and subprime industry, it is not surprising that many homeowners are facing mortgage troubles. If you are among these unfortunate individuals, it is very important that you learn about the different options available and which among them would work best for your situation.
The first option that distressed [...]
Selling Your Distressed Home
You might be surprised to know that distressed homes do not always end up in foreclosure. If the owners are lucky, they will be able to sell them before the reinstatement period is over. If you are one of these owners who has recently received a Notice of Default, you will have to act fast. [...]
New Hampshire Distressed Properties Double in One Month
New statistics show that the amount of new distressed properties and foreclosures in New Hampshire have more than doubled in a one month span of time. Last month, the New England state recorded 660 homes entering into some stage of foreclosure. This is a huge leap over the 320 recorded statewide in January causing many [...]
