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From the monthly archives:

July 2008

Foreclosure Buyers’ Don’ts

by Mark GoodmanJuly 28, 2008

Buying a foreclosure home for the first time requires careful consideration of all the possible things that could go wrong. Obviously, you will have to gain a little knowledge about the entire foreclosure process and market conditions as well as get pre-approved for a mortgage loan even before your foreclosure search begins.

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Phoenix AZ Experience 534% Rise in Foreclosures; Worst Yet to Come

by Robert ShultzJuly 25, 2008

Residents and local officials of Phoenix have really something to worry about. According to the latest data, there was a 534 percent increase in the number of foreclosure filings for the first half of the current year, bringing the total to 12,573. Sadly, experts are saying that half of this number will end up as foreclosures.

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Foreclosure Crisis: the Pain of Walking Away

by Danny GibsonJuly 25, 2008

For most Americans, owning a home is one of the proofs that they have made it. But with the current mess in the mortgage industry, there are already millions of homeowners at risk of losing their homes to foreclosure. Some of these unfortunate individuals have even decided to simply walk away from their mortgage obligations.

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Alaska Foreclosure Counselors Hoping for the Best

by Mark GoodmanJuly 23, 2008

Foreclosure counselors working for the Consumer Credit Counseling Services of Alaska are alarmed about the increasing number of distressed homeowners facing foreclosure. The non profit group has been shelling out advices and information in order to provide valuable help to these troubled borrowers who are on the brink of losing their homes.

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Misunderstanding Credit Scores

by Danny GibsonJuly 21, 2008

Although market conditions clearly favor buyers over sellers, it is still important to understand how credit scores can make buying more profitable especially with the currently tightened credit market.

It is quite surprising that many consumers fail to take advantage of the benefits that come with understanding credit scores. In a new report from the Consumer [...]

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Avoiding Foreclosure Help Scams

by Robert ShultzJuly 14, 2008

It is quite sad to know that the current crisis in the mortgage industry has not only resulted to millions of homeowners losing their home to foreclosure. The incidence of foreclosure rescue scams has also soared considerably.

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Foreclosure Rescue Bill Faces More Delays

by Danny GibsonJuly 10, 2008

With the nation suffering from the high national foreclosure rate, it is only right that the federal government is busy looking for a long-term solution to this crisis. Among its efforts is the foreclosure rescue bill that will allow troubled homeowners to re-finance their existing mortgages and avail of government-backed loans instead.

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Renters Haunted by Foreclosure Stigma

by Robert ShultzJuly 8, 2008

Losing your home to foreclosure is surely something that can considered as traumatic. But if you think that things can not get worse, you might actually find yourself having some trouble looking for an apartment because of your foreclosure record.

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Durham Leaders Help Distressed Homeowners Stop Foreclosure

by Anthony ParkerJuly 3, 2008

In almost all states, it is the same story. The crisis in the mortgage industry has resulted to an increasing number of properties entering some stage of foreclosure. The state of North Carolina actually posted a 14 percent increase in foreclosure rate compared to last year, with currently one filing for every 1,086 homes.

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Home Builders Competing with Foreclosures

by Mark GoodmanJuly 1, 2008

It seems that the problem in the mortgage industry has claimed another victim. This time around, it is the home builders. It is not enough that they are trying to sell these newly-built homes in a sluggish market but to makes matter worse; they are now competing with foreclosure properties – some of which were their own creation.

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