Archive for 'Foreclosure Filings'
Good News for Distressed Homeowners: Lenders Settling for Less
11 June 2008A few years ago, mortgage lenders do not think twice when it comes to repossessing homes due to default. But when the subprime mess hit, lenders are now accepting alternatives to foreclosure including a short sale.
Hope Now Trying to Keep Up with Growing Foreclosures
9 June 2008According to Hope Now, a foreclosure prevention coalition that includes lenders, investors, advocacy groups and mortgage servicers, they have already helped out around 1.6 distressed homeowners since the program started last July 2007.
April Sales: Still Not Looking Good for the Housing Market
4 June 2008From a report released by the National Association of Realtors, it seems that home sales for the month of April slowed down. It is therefore not surprising that inventory of homes for sale soared by 10 percent and home prices dropped by 8 percent.
White House Still Opposed to Bailout Plan
26 May 2008Ever since the subprime mess started, the White House has been quite firm in its resolve to address the issue but not in the form of a bailout for mortgage lenders. President Bush believes that even though the economic situation is worsening, as a result of the housing and credit crisis, it is still not right to help these lenders and speculators who were responsible for the current problems in the first place.
Lawmakers OKs Contentious Housing Plan
14 May 2008When the House sat down to vote on the contentious housing loan package, which involved $300 billion in mortgage loans, the results was not at all surprising. In an effort to minimize the damage caused by the subprime meltdown, lawmakers approved a plan this Thursday that will somehow help manage the enduring housing crisis.
Homeowners hit by Hurricane Foreclosure!
8 May 2008Homeowners across the country thought that maybe 2008 will bring them some relief and maybe the government will sit up, open their eyes and do something to restore normalcy but now it seems like foreclosure is an eventuality that can’t be avoided. By the end of the first quarter of 2008, 156,463 repo homes were created as homeowners were struggling to make their monthly mortgage payment. Foreclosure activity doesn’t show any signs of a slow down, which basically means that the bubble might burst any time and the situation, might go out of hand.
The Foreclosure Market needs help – Can you provide assistance?
30 April 2008The rising number of foreclosure homes is escalating. Homeowners are in trouble to the point where the United States House of Representatives is stepping in to help by providing 300 billion dollars in order for homeowners to refinance. However, is it enough?
As States Receive Foreclosure Prevention Funding, Need for Counselors Soars
25 April 2008With the foreclosure rate extraordinarily high around the country, foreclosure counselors are in high demand all over to staff the many prevention centers and hotlines being established in many states. This growing demand for foreclosure counselors highlights the growing attitude that many homeowners in danger of foreclosure are taking, and that’s to deal with their situation. This could be a sign efforts to raise awareness about options in the face of foreclosure are working.
Foreclosure Bill Passed by US Senate
15 April 2008Finally, a new foreclosure bill has been passed by the Senate as part of the solution to the enduring crisis in the housing, credit and subprime mortgage industry.
In an 84-12 vote, the new measure included tax breaks to be enjoyed by home builders, $7,000 tax credit for buyers of foreclosed homes and also a total of $4 billion in community grants for the purchase and repair of abandoned properties.
Investors Pull Back as Foreclosures Soar
11 March 2008As the tide of foreclosures continues to cause havoc in the national housing market, investors such as Citigroup is looking to cut back their mortgage holdings by as much as 20 percent. This means that less money will be available for lending and buying mortgage securities, further fueling the current mortgage crisis. The high foreclosures rate is also not helping the situation.
