You’ve probably been hearing an awful lot about loan modifications. It seems like in this economic climate, the subject is popping up everywhere. Though I’m based in Westchester County, NY, helping distressed homeowners wade through the climate of the current recession is what I do. Though my area sweeps Rochelle to Portchester and a hundred…
Category Archives: Short Sales
A Westchester County Distressed Home Seller's Worst Nightmare….
Westchester County, NY, has not been spared from the subprime crisis. It’s a part of my business every day at Crecco Real Estate. I have to contend with a new market and new challenges, mostly for sellers. I heard a story the other day that absolutely broke my heart. You need to listen, and you…
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…
Looking for a Distressed Property In Westchester County, New York? Two Things You Need To Know
You can’t turn the television on without commentary about how it’s the end of the world in real estate. Everyone is talking about prices coming down, down, down, down. The market may have a ways to go, but a lot of investors are starting to think that it’s at or near the bottom, and coming…
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
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…
Why the Bail-Out Will Not Affect Your Short Sale|Forclosure in Westchester County
The “Bail Out” or the “Buy In”, depending on if you fall for the propaganda, was/is intended to “save” the economy by injecting capital back into the financial system. The general idea is that the Federal Government will buy distressed financial instruments, like mortgage backed securities, and coax them back into being “performers” or to…