Posts (RSS)
Foreclosure
Bankruptcy or Foreclosure: Which is Better?
Tuesday, June 10th, 2008There has been an ongoing debate for many experts about choosing which is a better option, bankruptcy or foreclosure? Actually the answer is NEITHER.
When Foreclosure Knocks
Friday, June 6th, 2008When distressed homeowners receive call from their mortgage lenders, they usually end up panicking and not thinking clearly. Because of this, most of them think that the only way to address this problem is to cry and wait for the eviction notice.
Do Not Expect Buyers to Pay for Home Improvements
Wednesday, May 28th, 2008If you are a homeowner facing foreclosure, you should be aware that the market is currently favoring the buyers. This means that you will have to work doubly hard to sell your home before the reinstatement period is up. Otherwise, you can say goodbye to whatever equity you have on your property.
Selling in a [...]
Senate Banking Committee Approves Foreclosure Bill
Thursday, May 22nd, 2008The new Foreclosure Aid bill made some headway in the Senate yesterday, as the Senate Banking Committee voted 19-2 in favor of the bill, the last hurdle now only being the general vote by the Senate. Many expect the bill to pass easily, since talks have gone on for several weeks about the bill and [...]
Foreclosure Buyers: New Landlords
Wednesday, May 21st, 2008The enduring crisis in the housing market has not only resulted to millions of foreclosed homes nationwide. As a way to minimize the negative effects of high foreclosures rate, lending standards have also tightened.
Because of these reasons, it is not surprising that individuals and families are choosing to rent instead of buy homes. This particular [...]
Senators Agree on Funding for Foreclosure Bill
Wednesday, May 21st, 2008Some of the key Senators involved in the anti-foreclosure homeowner assistance bill currently before the Senate announced that they had reached a bipartisan agreement on a way to fund the bill without using taxpayer dollars, which had been a huge issue and stalled the foreclosure bill from going forward. The details of this provision of [...]
Senate Reaches Compromise on Funding for Anti-Foreclosure Bill
Friday, May 16th, 2008The heated debate in the Senate over the proposed anti-foreclosure bill saw a breakthrough yesterday, as Senators agreed to a measure that would have Fannie Mae and Freddie Mac, the two biggest government affiliated mortgage lenders, pay for part of the proposed federal program to insure new loans for homeowners in distress. While the agreement [...]
Colorado Foreclosure Rate Rises in First Quarter
Friday, May 16th, 2008The first quarter of 2008 saw another surge in foreclosure homes in Colorado, as the state’s overall foreclosure rate rose more than 23% over the statistic totals for the first quarter of 2007. The 11,630 foreclosure filings that occurred during the first three months of the year was also 6% higher than the totals for [...]
Mortgage Delinquency Risk Up
Thursday, May 15th, 2008A new study released by a real estate data analysis firm known as CoreLogic has found that the risk of mortgage delinquency is up in 2008, which projects more defaults and subsequent foreclosures for the nest year. The report is based on the Core Mortgage Risk Monitor, a system which projects foreclosure risk based on [...]
Foreclosure and Crime
Wednesday, May 14th, 2008Distressed homeowners have more than one reason to worry now. Slavic Village, an economically backward neighborhood in Cleveland, has gained the dubious reputation of being the worst neighborhood in the country for foreclosures. According to a report released recently, it was found that Slavic Village recorded the highest number of foreclosure filings in a single [...]