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Banks Are Preferring Foreclosures to Short Sales
Questions are being raised as to why banks prefer foreclosures to short sales although the percentage of loss for banks in short sales is 19% whereas in foreclosures it is much higher at 40%. The common experience is that even if the homeowners manage to secure a buyer, in these difficult days, the banks take [...]
Foreclosures Closing in on Migrants
Tough lending laws have led to foreclosures closing in on migrants. In 2007 Jorge and Marina Schiefer had sought to get a mortgage from Countrywide Financial to buy a two storey modest house on Valley Road. Loan officer Madeline Diaz had rejected their application saying that since they were immigrants from Argentina they could seek employment but not loans.
Boarded and Vacant, the Foreclosed Houses are Waiting and Waiting
Boarded and vacant the foreclosed houses are waiting and waiting for Fate to decide. Will Man or Nature take over? Robbie Johnson is 61 years old. She does not like what she views from the porch of her rented house in Newark.
Foreclosures Are Opening Doors to Many
Foreclosures are not only shutting doors but opening doors to many. The climate is idea for affordable accommodation as house prices tumble.
Garfield County Will Make a Record Number of Foreclosures
Foreclosures have indeed become very common in the US. As the economy goes through one of its deepest recessions, and unemployment peaks, well to do property owners are falling by the wayside. Property owners seemed to have been sucked into a vicious cycle.
Homeowners Feel Lucky If They Manage to Sell Without Facing Foreclosure or Short Sale
Things have come to such a pass that homeowners feel lucky if they manage to sell without facing foreclosure or short sale. It is especially hard on the elders about to retire or already have retired. The situation is so grim that many sellers have to bring cash to the negotiating table to clinch the sale deal. This is on top of having to sell it far below the original price of the property.
Knowledge and Financial Literacy Are Tools to Fight Foreclosures
It is not money and muscle power that can help – knowledge and financial literacy are also tools to fight foreclosures. Lately the word is going around that the foreclosure victim can seek bankruptcy protection. Hence it is essential to know the facts and options related to bankruptcy.
Commercial Foreclosures Are Shooting Up
According to reports coming in commercial foreclosures have been shooting up in Denton County during first few months of 2009. Foreclosure Listing Service has conducted the tracking.
In the Dallas-Fort Worth region the numbers have shot up by 14% with the most being reported from Denton County since 1990. In 2009 so far, half of the 83 properties in Denton County has been foreclosed upon. In 2008 the number was 24. The units are pieces of commercial land.
Ways to End the Foreclosure Crisis
The general opinion is that to bring back the health of the economy the first thing is to tackle the housing calamity. There is however no unanimity about the ways to end the foreclosure crisis.
The Bush administration had floated the idea of negotiation of mortgage loans that the borrowers could no longer manage.
In South East Queens Foreclosures are Traumatizing Residents
On the one hand are the eerie vacant houses and on the other homes about to be lost – all told in southeast Queens foreclosures are traumatizing residents and leading to anxiety.