The higher you go, the harder you fall. That is what New York is currently experiencing. The main fuel line of New York, Wall Street, is going dry. How hard could this affect their high-end lifestyle? Could New York homes be in foreclosure too? The city’s economy depends on Wall Street. With Lehman Brother’s sudden [...]
Freddie Mac announced that the 30-year fixed-rate mortgages fell further after its 11 week decline. 30-year-fined mortgage rates are now at 4.96 percent, averaging at 0.7 point, for the week that ended January 15. It is actually down by 0.4 percent from last week’s 5.0 percent. This must really sound good to the foreclosure-risked. The [...]
The loan modification program implemented by Fannie Mae and Freddie Mac in December 2008 received nothing but good feedback. It was considered by most as a good step in helping distressed homeowners prevent foreclosure. Fannie Mae and Freddie Mac temporarily stopped foreclosure eviction late last year in order to give way to the streamlining plan. [...]
Lenders are now tougher in approving loans. With the flooding of foreclosure, lenders are now very careful in giving out mortgages. But the Federal Housing Administration is giving out a good offer with only 3.5 percent-down loans. With this opportunity, tons of potential homebuyers applied to qualify for FHA’s offer. Of these, 630,000 were aided [...]
Everyone might want to grab the chance to refinance with the declining interest rates on mortgages to save themselves from foreclosure. Applying for a new loan to repay your old loan is a bold move because you will have to start in new terms. This may be a chance of redemption than being closer to [...]
With the housing crisis still persisting and foreclosure cases prevailing all over the country, there is also a surplus in troubled homeowners willing to take any possible measure to keep their property. This situation brought about a new opportunity for frauds to deceive willing preys. These hoaxers volunteer to help distressed homeowners in saving their [...]
There are many different government bodies that can foreclose upon a real state property. This would mainly be to recover dues such as unpaid fines and/or taxes from the owner of the property. Once foreclosed upon, the responsibility of the sale of these properties is handed over to the Department of Housing and Urban Development. [...]
Every County of every State within the country has been affected by the ongoing foreclosure crisis that the country is facing. As per data released by a prominent foreclosure listing agency, the country has seen an increase of 81% when it comes to foreclosure filings in 2008 as compared with 2007. The prices of homes [...]
Legal aid attorneys are a great help in keeping foreclosure-troubled families keep their homes. There have been many cases where legal aid lawyers have helped prevent eviction cases. Isabel and Juan Muneton, a couple who lived in a foreclosure-threatened apartment in Lawrence, was helped by a neighbourhood lawyer to stay in their home. Unfortunately, not [...]
FDIC Chair Sheila Bair’s hopes are still high for the use of Treasury bailout funds to aid homeowners at risk of foreclosures. During her speech at Johns Hopkins University Carey Business School, Bair mentioned that the issue they are being faced with in their plans is whether the use of the funds to curb foreclosures [...]
