Medical and other bills as well as job loss have emerged as the leading cause of foreclosures in Pennsylvania according to a recent survey commissioned by the Pennsylvania Association of Realtors. The sub prime crisis may be the potent factor that caused the collapse of the housing sector and the driver of foreclosures that stood [...]
The U.S housing market has been going through great upheaval in the recent times with the economic meltdown which has given rise to the influx of a large number of foreclosures in the real estate industry. While the increasing number of foreclosed homes has become one of the most unfortunate crises across the whole country, [...]
Experts have criticized the performance metric used to measure if assisted home owners are redefaulting on their modified mortgages financed by tax payers. As such, the Obama administration revised its month wise report on the path breaking foreclosures prevention program. The department of Treasury alleges a problem at Fannie Mae that handles the HAMP (Home [...]
The Obama administration has adopted a bold move by expanding its existing FHA Housing programs to help home owners who are in danger of losing their properties to foreclosure. The federal programs have turned out to be a boon to struggling home owners who face defaulting on their mortgage payments eventually leading to foreclosures. The [...]
With the spread of the housing crisis, many home owners prefer to walk away from their homes, allowing banks to foreclose on their properties and stop paying mortgages. The paper work required for loan modification or the process of short sales seems to be too overwhelming for home owners who prefer to be subject to [...]
Law makers and Home owner advocate groups are questioning the effectiveness of the anti foreclosure program of the Obama administration. In an estimate offered to Congress, the Obama administration’s program is said to have fallen short in preventing foreclosures because the Treasury Department has failed to spell out its objectives. Only 390,000 home owners have [...]
Mortgage Rates continued to be at record low this week but the trend was not enough to kick start the down in the dump housing market and stop the flood of foreclosures for sale. Government controlled mortgage giant Freddie Mac pointed out that average rate of fixed loans for 30 years was 4.5 % this [...]
With the real estate crisis moving into the third year, more and more prime areas in the country are coming under foreclosures at an alarming rate. While this situation is very grim for home owners as well as real estate investors, first time home buyers can now think of buying a property that they otherwise [...]
Over 7.3 million home loans continue to be in state of foreclosure or delinquency and there is no light at the end of the tunnel. The main reason is that number of borrowers who are delinquent by 90 days or more increased by 9.2% in May 2010 as per a report from Lender Processing Services [...]
Michigan governor Jennifer Granholm announced a new program to fight foreclosures called as the Helping Hardest Hit Homeowners fund. The $154.5 million fund will be administered by the Michigan State Housing Development Authority (MSHDA) also with credit unions, banks and counseling agencies in order to help 17,000 Michigan residents to avoid foreclosure. The fund offers [...]
