The Hidden Cost of Foreclosure in AlbertaFirst, let’s put this all in perspective. In a recent interview, CAAMP president Jim Murphy indicated that "5% of all [U.S.] households are actually in foreclosure, while here in Canada households … only 0.28 percent of mortgages are in arrears in Canada.” Great news for the vast majority of Canadians, and directly attributable to a much more robust financial system. Regardless, the...more
How To Buy Foreclosures That Sell With many real and profitable opportunities for every buyer, the real estate market has been touted as a buyers' market. This impression is largely due to the fact that many foreclosures being offered in the market today can be bought at only a fraction of their actual market values. If you want to make it big in this industry, you should know how to buy foreclosures that can bring you the biggest benefits...more
What To Do With Foreclosure Lists For some of the best deals in real estate, you have to dig a little deeper below the surface. It's tough to find good discounts on homes from a real estate agent, since often times they will be selling them for as much as possible to satisfy both the homeowner they represent and pad their own commission. But buying properties from a foreclosures list means getting the chance to win incredible homes for way below market prices. These unique properties are available from mortgage lenders for incredible discounts, because they are the result of defaults by homeowners. After a default, the lender involved will need to find some way to settle the debt owed. By repossessing and selling the homeowner's property at auction, the lender can collect the money they need to settle the loan debt.Buying Foreclosed HomesHowever, homes for sale through these means can often be purchased for way below their actual value. Since the bank or lender usually only needs to collect an amount that is much less than the full value of the property itself, they are free to undersell homes and still make back what they need to cover the debt. As a homebuyer or investor,...more
Hawaii and Illinois are full of Good Anti-Foreclosure Ideas ForeclosureConnections Hawaii receives a further $204,000 for distressed borrower counseling Illinois is set to put HAMP ahead of foreclosure judgments "Keeping people in their homes is good for families, and communities too" The State of Hawaii has just been granted a further...more
It is not unusual for a homeowner to feel very helpless once the possibility of a foreclosure dawn on him. While foreclosure happens almost everyday in America, it is a fact that every American also dreads. The possibility of losing ones home is just too much to take considering the alternatives present to a family with financial difficulties. But...more
The Making Home Affordable Program is one component of the Obama Administrations comprehensive strategy to get the US housing market back on its feet. The Making Home Affordable Program puts some very strong options into the hands of American homeowners. The Home Affordable Refinance Program (HARP) assists with the refinancing of struggling mortgages, the Home Affordable Modification Program (HAMP) and the Second Lien Modification Program (2MP) will assist with modifying first and second mortgages/mortgage loans, and the Home Affordable Unemployment Program (UP) is available to provide unemployed borrowers with temporary assistance avoid foreclosure. For those already in foreclosure, the Administrations Home Affordable Foreclosure Alternatives Program (HAFA) has structures in place to prevent this from becoming a reality.If you are working, but still finding it hard to meet the terms of your current mortgage then you may be eligible for participation the HAMP program. To meet the conditions for a loan modification under HAMP you must:1.Be the occupant/owner of a home or condo unit 2.Have an unpaid principal balance on the home that is less than or equal to $729, 7503.Have a first...more
How to Prevent Foreclosure How to Prevent ForeclosureAre you one of those persons who have been asking yourself "How can I prevent foreclosure or how can I stop foreclosure from happening to me?"Yes, households across the world handled more...more
Discover How You Can Avoid Foreclosure Do you know how you can Avoid Foreclosure? A foreclosure is when you use your home as security for mortgage and you fall behind in your mortgage repayments and the financial institution start foreclosure...more
The Up Side to the Foreclosure Crisis If there is anything positive to come out the massive number of foreclosures taking place around the world it is the fact that some remarkably excellent homes and condominiums are available at lower prices...more
A borrower can stop foreclosure either by selling the home, short sale or deed in lieu of foreclosure. There are various other ways of stopping foreclosure which is explained later in this article. Most of the homeowners face foreclosure problems due...more
Buy Foreclosures - How Lengthy The Process Takes Property foreclosure is really a authorized mandate wherein a mortgagee, normally a person or economic agency or creditor for example a lender normally requires possession of a mortgager's...more
Buy Foreclosures - How Prolonged The Process Takes Foreclosures is actually a authorized mandate wherein a mortgagee, generally a person or economic agency or creditor for instance a standard bank normally takes possession of a mortgager's...more