Today, a large number of homeowners are facing foreclosure and many wonder what steps they should take. Those facing foreclosure should be well educated on the subject. For example, homeowners should familiarize themselves with their local and state foreclosure laws, their rights as homeowners, and so forth. With that said, it is important to remember that foreclosures are preventable. The easiest way to avoid foreclosure is to make your...more
The impossible condition of increasing foreclosures have forced the local officials to arrange for certain assistances to aid the buyers who feel literally troubled regarding the issue of buying homes from foreclosure auctions. However, with the ceasing of the foreclosure moratoriums and the increasing joblessness, experts studying the real estate scenario are fearful of the problem of foreclosures surfacing again by the first half of this...more
One of the victims of the foreclosure crisis is Brenda Macmaster. Her troubles started when she separated from her husband in the previous year and could not manage the mortgage payment of $1,500 per month from her own income. The lenders refused to refinance the penalty had gone up to $6,000. She tried to hang on but was losing ground with each passing day. Her house on Registry Ridge remained forgotten in the market for two years until one of the certified realtors, Taylor Grant, came to the rescue.Grant laid out before some options. His opinion was to go for a short sale rather than surrendering to foreclosure. The plan worked with the bank agreeing to a loss of $30,000 after mulling over the fact that a foreclosure would have cost the bank more. Macmaster said, “It was better than foreclosing and the bank not getting anything. That's one reason Taylor expressed a short sale would be better than letting it foreclose.”After the sale Macmaster has moved in as a tenant in Loveland and concentrating on repairing her damaged credit. She thanks Grant for navigating her through financial and mental turbulence. She gratefully added, “He helped me face...more
Some people may think that only poor families can be affected by foreclosure, but this is not true. Even the richest people of the world may face difficult situations created by the global foreclosure crisis. In such adverse circumstances, land owners are the most influenced, followed by residential owners. Real estate evaluators questioned by ...more
Foreclosure Prevention Plan - HAMP Timothy Geithner, the United States Treasury Secretary, has stated that the Home Affordable Modification Program (HAMP) has been one of the most successful crisis programs in the history of such programs. He testified that the HAMP program, a program regulated under TARP (Troubled Asset Relief Program), has...more
Getting the right contractors for your San Antonio foreclosures The media in San Antonio has been reporting on a series of wrongful foreclosures in that area. However, the number is so small that it does not affect the overall good feeling investors have about San Antonio foreclosures in general. In fact, this is one of the prime areas where people are looking to buy foreclosed homes for sale.And of course anyone who is looking to buy one of these foreclosure homes knows it is quite possible that you will need some work done and might even have to hire a contractor to help you out. There are several ways for you to get involved with a top-notch contractor and there are different questions that you want to ask.Firstly, you have to know if they have experience with foreclosed homes for sale, and you can even go to your local hardware store and ask for referrals. Be sure you get the right kind of references for a subcontractor or contractor that you are thinking about using.Foreclosed homes for sale are a good investment opportunity, and you want to proceed the right way by starting with the kind of people you hire to work on the situation at hand. One of the other places where...more
The nation as a whole has been caught off guard by the amount of foreclosures reported over the past 24 months. Some states have been hit particularly harder than others. It is within these states that some innovative individuals have found a way to...more
North Carolina foreclosures up 25% Even though there are indications that things are getting better in other parts of the economy, recent statistics say North Carolina foreclosures are up 25%. Now of course this means there has been a spike in...more
Any seasoned real estate investor will tell you how important it is to find foreclosure listings which can be depended on to provide you with hot leads to bargain distressed properties for sale. Unfortunately, there are a lot of providers of these...more
Land Eyed by Target Falls to Foreclosure A 19-acre property that was eyed last year by discount retailer Target is now undergoing foreclosure. The land is located at La Madrona Drive, Scotts Valley, California. The property is scheduled to be...more
Massachusetts Foreclosure Attorney: Hunt Down the Expert Advice Do you know that foreclosures in Hampden County,Massachusetts were up close to 50% for the first four months of 2010 compared to the same period last year?Yes the month of April...more
Many homeowners are unable to make their mortgage payments due to financial hardship. At such a time, they often have to decide between short sale foreclosure and foreclosure. A homeowner should take this is a decision after careful consideration of...more