All success requires you to make a decision to succeed. Here are five thoughts to consider: Success is more difficult to live with than failure. You must know why you want to succeed so that it has purpose. Otherwise it is a non-fulfilling experience. Success in any endeavor requires you to pay the price. Short-cuts…
GSEs Instruct Servicers to Help Unemployed Through State Programs
Fannie Mae and Freddie Mac have both issued notices to servicers that they must work closely with state housing finance agencies to provide mortgage assistance to homeowners who’ve lost their jobs. The Treasury Department has awarded $7.6 billion for housing agencies in certain states to develop programs that provide temporary relief to unemployed homeowners. Effective…
New York State Banking Department issues report on pre-foreclosure notices
The New York State Banking Department has announced that more than 76,744 pre-foreclosure notices were sent to New York homeowners who have fallen behind on their mortgage payments since May 31, 2010. A total of 134,000 pre-foreclosure notices have been sent since data collection began on February 13, 2010. If a borrower does not become…
With Millions of Foreclosures on Horizon, Should States Mandate Mods?
The foreclosure crisis is far from over. According to figures released by the Center for Responsible Lending (CRL), since the crisis took hold, 2.5 million homeowners have already lost their homes and another 5.7 million are at imminent risk of foreclosure. Looking ahead, the nonprofit research group says it’s projected that between 10 and 13…
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Reconsidering Foreclosures, Short Sales and Listings in an Upside Down Market When sales activity has diminished, as is the case in today’s market, appraisers have a much smaller pool of comparable transactions available to them. Such times require that appraisers give greater scrutiny to transactions that have traditionally been discarded. Here’s why and how appraisers…
Foreclosure, what does it really mean to people?
Miami, FL- (October 25, 2010) For the vast majority of homeowners, new questions about the state of foreclosures appear to be irrelevant. Few people seem to have been wrongly thrown out of their homes, and those who have been are generally months or years behind on their mortgage payments. But the fallout from the crisis is…
The Art of Happiness
Making Each Day Your Best In The Art of Happiness, the Dalai Lama shares this powerful insight into life: "I believe that the very purpose of our life is to seek happiness. That is clear. [Regardless of religion], we are all seeking something better in life. So I think the very motion of our life…
Selecting a New Water Heater
Many homeowners wait until their water heater fails before shopping for a replacement. Because they are in a hurry to regain their hot water supply, they are often unable to take the time to shop for the most energy efficient unit for their specific needs. This is unfortunate, because the cost of purchasing and operating…
Courts Are Delaying Foreclosures
Courts Are Delaying Foreclosures Miami, FL – . The recent suspensions of foreclosures by four major companies that service mortgages compound a problem that had existed for years in states where foreclosures are handled by the courts. In the 23 states in which foreclosures must be approved by a judge, the process takes longer than…
Bank of America Halts Foreclosures
Miami, FL – .Bank of America Corp. imposed a nationwide moratorium on foreclosures and the sale of foreclosed homes after it came under intense pressure from a government-run housing-finance giant worried about documentation problems, people familiar with the situation said. The bank called the halt as concern mounted from legislators and state prosecutors about procedures…
10 Trouble Spots to Consider When Purchasing a Foreclosed Home
It’s easy pickings out there for many potential home buyers. Housing prices are at their lowest in more than a decade, inventories are high, analysts are predicting a new wave of foreclosures and the government is offering two substantial tax credits for which many home buyers qualify. But bargain buyers beware, warns Vince Mastronardi, whose…
Paperwork Missteps to Prolong Foreclosure Crisis in Certain States
Three major mortgage lenders have halted foreclosures in states where the process is handled through the court system after suspicions surfaced that employees did not follow legal procedures in preparing the required documentation. GMAC Mortgage was the first to do so, followed by JPMorgan Chase and then Bank of America. Analysts warn that the practice…
Existing Home Sales Improve a Bit
The National Association of Realtors® (NAR) reported that existing home sales advanced modestly in August, rising 7.6% to a seasonally adjusted annual rate of 4.13 million units. This follows the dramatic 27% decline in July — an adjustment to the effects of the home buyer tax credit and its deadlines, which drew home sales that…
