Category Archives: Foreclosures

Westchester County market Update Week of April 27, 2009






Find Out What you need to know about The New Loan Modification Plan from Obama

At the heart of the President Barack Obama’s ambitious plan to rescue the housing market is the conviction that restructuring distressed mortgages will keep struggling borrowers in their homes and help insert a floor beneath plummeting property values. With $75 billion dedicated to reworking troubled loans , that’s a big bet-especially considering that a top…






A Short Sale May not be the End of The Ordeal!!!

you may think that after negotiating a short sale with the bank, that its over. Well according to a recent Wall Street Journal article this may not be true. Get all your information correct and clear from your Real Estate Agent handling your Short Sale.






Where to Get Foreclosure Help

With all the dubious assistance programs and out-right scams preying on home owners facing foreclosure, it can be difficult to find legitimate help. Here’s a list of programs that are either operated by the U.S. government or have its seal of approval: * To find a counselor, contact the U.S. Department of Housing and Urban…






Short Sale Opportunity Awaits You

Investors looking to acquire houses through short sales just might be in for some good news. One of the largest holders of second liens in the U.S., the Bank of America, says it’s relaxing its policy on payoffs connected with short sales. That’s important because large banks have been major impediments standing in the way…






The State of the Economy|Dont panic

The current state of the economy is probably the worse economic slowdown that most of us have experienced. It’s scary. It seems like there is no end to the bad news and the value of assets (stocks and real estate) will never stop falling. Most investment advisors we speak with continue to believe that the…






Obama Foreclosure Plan to Help Resolve Westchester Housing Crisis|Loan Modifications

President Obama last week unveiled details of a $75 billion foreclosure prevention plan designed to help seven to nine million “responsible” home owners remain in their homes with affordable mortgage payments. The official rollout date for the program is March 4. Read More






The Obama Bail Out Means Loan Modifications For Westchester County, NY

Housing Bailout at $275 Billion Obama Plan Would Fund Loan Modifications, Cover More Losses at Mortgage Titans: The plan, which could cost as much as $275 billion, will enable as many as five million homeowners who have little equity in their homes — or even owe slightly more than their homes are worth — to…






Obama's $75B plan should prevent some local foreclosures|Westchester Foreclosures|Bailout Plan

Some Guidlines in the new Obama Rescue plan could save many local homes. MESA, Ariz. – President Barack Obama threw a $75 billion lifeline to millions of Americans on the brink of foreclosure yesterday, declaring an urgent need for drastic action – not only to save their homes, but also to keep the housing crisis…






It's Not the Market it's how you React

Anyone who has hit a speed bump knows there’s a right way and a wrong way to take this arbitrary, often irrational, obstacle to your intentions. The recession is a speed bump, a big one, but just a speed bump. If it is taken the right way, it will not be a barrier to a…






Communication|Distress|Success

Mr. Gorbachev, tear down this wall! -Ronald Reagan (1911-2004), 40th President of The United States, dubbed the Great Communicator for his ability to use anecdotes that ordinary people could understand. Have you ever heard someone speak and just marvel at how the words seem to flow like a lazy river just doing it’s thing? How…






Fed Cuts Short Term Rates|Foreclosures|Short Sales

Feds cut rates to the Bone. Lets see what happens?? The Federal Reserve slashed short-term interest rates today to nearly zero, bringing to an end a 15-month campaign of rate reductions intended to encourage borrowing and stimulate economic growth. Read More






New Government Program to Help Homeowners

The Federal Housing Finance Agency (FHFA) and the mortgage industry announced a new program this month to renegotiate home loans held by Fannie Mae and Freddie Mac. The plan, which will become effective December 15, 2008, will be available to borrowers who are at least three months behind on their mortgage and who owe 90…






1 Out of Every 6 Homeowners Owe More Than Their Home is Worth

This article I found has some very useful and valuable information for homeowners in distress. Thornwood NY – The country was stung by more alarming housing news while making their morning commutes. The Wall Street Journal reported this morning that of the 75.5 million U.S. households that own their home, an astounding 1 in 6…