Archive for the 'Foreclosure' Category
No, No, No, Yes.
I live in Arizona and pretty much every home within a 2 square mile radius of my home has dropped 50-60% in value since 2006.
Which means terms like loan modification, short sales and foreclosure pretty much dominate every neighborhood bar b q party at the local park.
Recently, I was at a neighborho…
Home Builders Cut Prices to Woo Customers
Home builders are cutting prices on new homes to entice buyers. New construction accounted for 7.6% of home purchases last year, down from an average of about 16% over the past 20 years, according to an write-up in the Wall Street Journal.
Home builders have been hit hard by the recession as many…
What Are Anti Deficiency Laws?
Anti Deficiency laws are laws that spell out what is to happen when a homeowner gets foreclosed on or has to sell their home for less than what they currently owe on their mortgage. Anti Deficiency laws vary from state to state and many times public aren’t even aware that it is possible that …
Large Backlog Of Bank Owned Homes
According to USA Today, there were about 1.7 million homeowners who were far along in the foreclosure process in the fall – which means that there is a large bulge of homes that are going through the foreclosure process and will be available for sale from the banks in the spring and into 2010….
FHA Loans After A Foreclosure
For those homeowners who are in distress and are unable to short sell their home or get a loan modification, the most common end conclusion is foreclosure. As the foreclosure crisis continues on and many homeowners have either went through the foreclosure process or are facing foreclosure, one of …
Strategic Defaults: It Depends How Far Under Water You Are
The term “Strategic Default” has been actively reported on for the last few months as more homeowners who can afford their mortgage payment just “walk away” for various reasons.
And the #1 reason they walk away is considering they owe more than the home is worth.
And accordin…
Wondering whether You Should Keep Making Your House Payment?
As I have traveled all through the country by the last year, I have noticed that citizens in different places have different attitudes about foreclosure. Jimmy Buffet’s song Changes in Latitudes, Changes in Attitudes could fit nicely into that scenario – humans in Miami, Florida seem t…
