Foreclosure
Foreclosure Buyers: New Landlords
The 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.
Senators Agree on Funding for Foreclosure Bill
Some 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
The 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
The 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
A 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
Distressed 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 [...]
NY State Senator Seeks to Hold Lenders Accountable
In New York, one state lawmaker is pushing for new legislation that would be aimed at not allowing foreclosures to destroy a neighborhood or community by sitting on the market unowned and uncared for. This tends to drag down home values in nearby communities, and can lead to even more foreclosures as a result.
State senator [...]
Lure Buyers at No Extra Cost
In cities like San Diego, the number of homes entering foreclosures is rising steadily. As a troubled homeowner, one of the options you can explore is putting a ‘for sale’Β sign in front of your yard and hope that buyers will stumble on your property before the re-instatement period is up.
You should know that [...]
Michael Jacksonβs Neverland Saved From Foreclosure
The famous Neverland Ranch, of the entertainer Michael Jackson, was saved from a foreclosure sale set for this week after a loan on the California property was sold to a large real estate investment firm called Colony Capital. Michael said the loan is about $23.5 million and it had been held by Fortress Investment Group. [...]
Homeowner Frustration on the Rise Due to Foreclosure
It’s logical that the rising trend in foreclosure houses nationwide would lead many homeowners to become extremely frustrated and distressed. Losing a home and dealing with an adjustable rate mortgage that seems to only work against you has to be an incredibly taxing and frustrating experience. And now officials are seeing a new trend among [...]
