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From the monthly archives:

October 2008

More Lenders Working with Troubled Borrowers to Avoid Foreclosure

by Anthony ParkerOctober 29, 2008

In the past year and a half, about 3 million Americans were able to receive assistance in the form of affordable loans via different mortgage relief programs initiated by both the government and the private sector. But aside from these programs, the Mortgage Bankers Association believes that more and more lenders are now willing to modify mortgages.

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Evander Holyfield: Latest Foreclosure Victim

by Robert ShultzOctober 24, 2008

Everyday thousands of homes enter some stage of foreclosure due to different reasons. This clearly shows that no one is immune to the foreclosure crisis that is currently affecting the entire nation. Take for instance Evander Holyfield, a former heavyweight boxing champion.

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Connecticut Senator Warns Homeowners Against Foreclosure Scams

by Robert ShultzOctober 22, 2008

If you are a homeowner facing foreclosure, you should be cautious when it comes to any foreclosure rescue operation that promises you an easy way out of your mortgage problems. In Connecticut, the number of foreclosure-related scams has risen dramatically during the last couple of years as the state struggled with a foreclosure crisis.

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Efforts to Prevent Foreclosure Slipping

by Anthony ParkerOctober 17, 2008

According to a report released by the State Foreclosure Prevention Working Group, an organization of banking regulators and attorney generals of different states, it would seem that the efforts of the industry to keep distressed homeowners from losing their homes to foreclosure have been declining.

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Life after Foreclosure

by Robert ShultzOctober 13, 2008

If you have recently lost your home to foreclosure, you should not feel like it’s the end of the world. True, this kind of thing is devastating and you might even wonder if there is life after such traumatic experience. Believe it or not, there is and you should consider life after foreclosure a second chance for you.

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Lenders Might Be Billed Per Foreclosure

by Mark GoodmanOctober 10, 2008

With the state’s foreclosure rate rising by s much as 22 percent from last year, New Jersey officials are stepping up their efforts by approving a measure that will require mortgage lenders to pay $2000 for every foreclosure filed.

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Where are the Home Buyers?

by Mark GoodmanOctober 8, 2008

According to the National Association of Homebuilders, the decline in home prices has certainly made homes more affordable for consumers. In some metro areas, existing home sales activity was a bit more brisk in the past months but overall, there seem to be the problem with the lack of qualified buyers.

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Sales of New Homes Plunge to Lowest in 17 Years

by Anthony ParkerOctober 7, 2008

Based on a report released by the US Census Bureau, new home sales activity has fallen to record levels last August. Annual rate dropped by 11.5 percent from 520,000 to 460,000 compared to last July and by 34.5 percent from last year of the same period. This rate also marked the lowest pace in 17 years.

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Foreclosure Investing: Where There is Smoke…

by Robert ShultzOctober 6, 2008

If you ask any seasoned real estate agent, they will tell you the same thing — it is certainly the perfect time to buy one of these foreclosure properties. But the question of where to find these repossessed homes still remains.

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Home Prices Drop by 16% in July

by Mark GoodmanOctober 3, 2008

Last Tuesday, the housing index as monitored by Standard &Poor’s/Case-Shiller showed a significant drop in home prices for the month of July as compared to the same period last year. The 16.3 percent decline is believed to be the biggest drop since the index was created in 2000.

In addition, the 10-city index also dropped by 17.5 percent, the largest decline recorded in 21 years of its existence. On the other hand, the 20-city index is in a much worse shape, plummeting by 20 percent from its peak in July 2006.

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