Citigroup Ties Up with Large Banks to Alleviate Foreclosure Crisis
American homeowners heading for foreclosure may put their hopes on a new project designed by Citigroup. The company has joined forces with Federal Deposit Insurance Corporation (FDIC), Morgan Stanley Chase, and other large banks to help mitigate property foreclosure problems hounding single families.
Continue Reading: Citigroup Ties Up with Large Banks to Alleviate Foreclosure CrisisTenants in Foreclosed Properties Receive Help
In various cities and towns across the U.S., thousands of tenants are being evicted from single-family houses, condos, townhouses and other kinds of rental properties because their landlords are in foreclosure. These tenants have been faithfully paying their rent not knowing that their landlords haven’t been paying their monthly amortizations.
Continue Reading: Tenants in Foreclosed Properties Receive HelpForeclosure Home Buying: Should I buy now?
The latest figures show that market is falling and if that big question, “Should I buy a foreclosure home now?” will be thrown out, the answer would be a big bold N-O.
Continue Reading: Foreclosure Home Buying: Should I buy now?Say No to Foreclosures!
You just can’t turn back from a foreclosure but there are a lot of ways to prevent it from coming your way. Several families face foreclosures due to the following reasons: unexpected unemployment, medical emergency, divorce, death within the family, job demotion, excessive debts, unexpected expenses for home maintenance and inability to pay increasing interest rates.
Continue Reading: Say No to Foreclosures!Foreclosure Crisis Update: Underwater Homeowners Reach 7.5 Million!
Reports show that the number of underwater homeowners is now 7.5 million and is alarmingly growing because owing more than the actual worth of the house is typically the first step to foreclosure.
Continue Reading: Foreclosure Crisis Update: Underwater Homeowners Reach 7.5 Million!Modified Mortgage Program Prevented 250,000 Foreclosed Homes
New York based JPMorgan Chase & Co, made announcements that it prevented at least 250,000 foreclosures since it joined other banks last 2007 in modifying or refinancing mortgages from clients who are delinquent in payments and those who may not be able to pay higher interest rates. This is a bid to thwart an increase in foreclosed homes and prime mortgage losses that bank executives from JPMorgan predict could reach $300 million by the start of 2009.
Continue Reading: Modified Mortgage Program Prevented 250,000 Foreclosed HomesGetting to Know Foreclosures
Included in the great American Dream is home ownership. But if you do not have sufficient cash to purchase one, you will instead take out a mortgage loan. Failure to pay monthly mortgage dues will likely result to a foreclosure and basically, this was the fate of millions of homeowners across the country.
Continue Reading: Getting to Know ForeclosuresChase: No Foreclosure for 3 Months
With both the government and non-profit organizations working hand in hand to curb foreclosure crisis, it is not surprising that lenders such as JP Morgan Chase has also decided to extend their help to distressed homeowners facing foreclosure. In the next 3 months, the New York-based company will temporarily stop foreclosure filings.
Continue Reading: Chase: No Foreclosure for 3 MonthsNew York’s Foreclosure Data Inaccurate?
The data of foreclosure filings obtained in New York, counting that of Erie County are said to be incomplete. This is the danger of depending only on one research firm, which has not perfected yet the act of data collection.
Continue Reading: New York’s Foreclosure Data Inaccurate?North Carolina Foreclosures Drop, Thanks to New Law
When the foreclosure figures for September came, many local officials were relieved to see their efforts paying off. Among their efforts to curb foreclosure include the approval of a state law that requires lenders to give distressed homeowners 45 days notice before any default notices can be filed.
Continue Reading: North Carolina Foreclosures Drop, Thanks to New LawAbout Us
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