Finally, the Bush administration has decided to step in and try to help those that are finding themselves in a foreclosure situation. The new plan is suppose to help 1.2 million distressed homeowners.
There is a catch though: mortgage interest rates will be frozen only for ARM borrowers who are not yet in foreclosure.
Here are a […]
Tag Archive for 'foreclosure'
For the past few months, I have been giving you advice on how to manage a foreclosure situation that you might find yourself in. But what if you are on the other side of the fence and you are constantly trying to find a cheap property to invest in? How would you go about finding […]
While Chicago home prices don’t seem to be affected much by the continuing price decreasing that we see throughought the country, it is still obvious that the housing market continues to be unfavorable to people looking to sell their property.
The median single-family house price in the United States fell to $220,800, which was down […]
A few months ago, we wrote an article on how to save your home if you are in a foreclosure situation. The article had a great impact at that time since the economy was shaking at the latest reports on foreclosure numbers. Yesterday, I was browsing the Money CNN section and I came across an […]
Foreclosures numbers have doubled compared to last July
Published August 22nd, 2007 in Mortgage. 0 CommentsThe number of foreclosures reported in the U.S. last month jumped 93 percent from July 2006 and rose 9 percent from June. This is an again an obvious sign that homeowners are having trouble making payments and finding buyers during the national housing downturn. The average time of properties on the market has increased also […]
Like many other homeowners, home-based business owners also tapped the seemingly ever-increasing rise in property value and the corresponding low interest rates the past few years to refinance their homes and use the funds for either consumer spending, business growth and expenses, or both. But now it looks as if that may not have been […]
This is a question that everyone has asked themselves: What should I do if I’m in a foreclosure situation?
There can be one of four different outcomes:
- You bring your payments current and your loan is reinstated. (Happy ending)
- You sell your home and pay off the loan, keeping “foreclosure” off your credit record. (You have […]
States with the Highest Foreclosure Rates
Jan-June 2007
1. Nevada
2. Colorado
3. California
4. Michigan
5. Florida
6. Ohio
7. Georgia
8. Arizona
9. Connecticut
10.Indiana
In the first six months of this year, Nevada, Colorado and California earned the dubious honor of being the three states with the highest foreclosure rates in the country. However, what might surprise people is that several states from the […]
Great article on SmartMoney.com. Foreclosure properties are always risky and there are so many factors to take in consideration, which makes the whole process very unpleasant or, better yet, confusing.
LAST MONTH, 43-YEAR-OLD Daryl White and his wife Renée closed on their new home: a five-bedroom, four-bathroom 2,900 square-foot house in Valencia, Calif., a planned community […]
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