The Obama Administration has announced the launch in the next several weeks of two new government backed aid programs . These two new programs are being launched by the Federal Housing Administration. The first initiative is a refinancing effort designed to help homeowners keep their homes. The second initiative is an emergency loan for unemployed [...]
A recent article found on CNNMoney.comdiscusses a 5.14% decline in the number of foreclosure filings, using the recent data collected by RealtyTrac, the leading online aggregator of foreclosure data. The decrease in the national foreclosure rate is for the first 6 months of 2010 when compared to the foreclosure rate of the last 6 months [...]
From: MostlyForeclosures.com
North Carolina will build on its programs to fight foreclosure properties with a fresh program of federal funding by the Obama administration amounting to $159 million.
Majority of the funds will be utilized to make unemployed workers current on their mortgage payments when they try to find new employment or are getting training programs for [...]
With over 40,000 foreclosure filings through July, North Carolina is not only set to eclipse the previous foreclosure record of 63,289 filings set in 2009, but to shatter it. At the current pace, foreclosure filings in North Carolina should be well over 70,000 by year end.
The top three counties for foreclosure filings are Mecklenburg, Wake [...]
The current buzz words in the Real Estate industry are “short sale“. Recent years of housing price increases, relaxed lending qualifications and adjustable rate mortgages coupled with the troubled economy have left millions of Americans facing the spectre of foreclosure. For many people this is a tremendous source of stress, frustration and sleepless nights. This [...]
If you or someone you know is facing possible foreclosure, you should know what to expect.
By Jean Folger of Investipedia
Many people have either gone through foreclosure, a process that allows a lender to recover the amount owed on a defaulted loan by selling or taking ownership of the property, or know someone who has.
RealtyTrac released [...]
Associated Press: Alan Zibel, AP Real Estate Writer, On Monday June 21, 2010, 8:09 pm EDT
WASHINGTON (AP) — The Obama administration’s flagship effort to help people in danger of losing their homes is falling flat.
More than a third of the 1.24 million borrowers who have enrolled in the $75 billion mortgage modification program have dropped [...]
From: iStockAnalyst @ iStockAnalyst.com
The famed US businessman — nicknamed the Sage of Omaha for sought after investment acumen — acknowledged in testimony to the Financial Crisis Inquiry Commission the rating agencies had “made the wrong call” by giving overly positive grades to mortgage- related products before the housing market collapsed.
Speaking in New York he said [...]
If you are facing the potential of going into foreclosure or if you are already in the foreclosure process, it is important to understand all of the options available to you. It is tough to make a decision that best suits your needs without being educated about the process and the choices that will affect your future.
Let’s get [...]
A Wolf in Sheep’s Clothing?
April 5th marked the start date for the newest government program designed to assist homeowners rid themselves of over leveraged homes through the short sale process. The government calls this program HAFA, or Home Affordability Foreclosure Alternative. This actually the third version of the HAFA program with updates designed [...]
