Archive for 'Foreclosure Filings'
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.
Declining Home Prices and the Right Time to Buy
2 March 2008According to a survey conducted by S&P Case/Shiller, the housing market posted a 9.1 percent decline in price index. This is perhaps the largest drop in over 20 years. Among the hardest hit are the metro areas of Miami, Phoenix and Las Vegas. In addition, the Los Angeles housing market performed the poorest when it posted a very sharp 3.6 percent drop in December compared to the previous month.
Avoiding a Foreclosure
6 February 2008With the foreclosure crisis reaching epic proportions across the country, many homeowners and real estate investors are becoming increasingly worried. Hundreds of thousands of people have already lost their homes to foreclosure, and with 2008 primed to be another big year for defaults and foreclosure filings, it seems as though the worst is yet to come.
Foreclosure Hotline Cries for Help
17 January 2008Last year, the Bush administration launched a foreclosure relief program that included an interest rate freeze for borrowers with current mortgage payments. The said rate freeze will last for five years. To assist homeowners seeking shelter under the relief program, the nonprofit organization Hope Now Alliance has opened its doors.
As soon as the relief program was launched, the number of calls made to HOPE skyrocketed. From a daily average of 1,500, calls jumped to 3,000.
Value of Idaho Homes, Boosted by the Faithful
14 January 2008Despite plummeting home prices in most states, home values in some Idaho cities are enjoying a nice boost – thanks to the so-called “Temple Effect”.
It seems that wherever a Church of the Jesus Christ of Latter-day Saints is about to be constructed, home sales perk up. Vacant lots near the temple site are immediately bought and the demand for these properties dramatically surge. Cities like Twin Falls and Rexburg have experienced such event. Experts are actually not surprised with the local market conditions. Location has always been an important factor when buying a home. Some buyers consider being near excellent schools or their place of work as important while some, like these faithful Idahoans, prefer living near these Mormon churches.
