Interesting research from PEW Local Trends that goes into great detail about Strategic Defaults.. What will be surprising to many is the dramatic increase in the number of homeowners willing to walk away from their underwater home. Just 3 years ago when we started reporting on this phenomena similar studies were done that resulted in…
Tag Archive: Distressed property
NY Home Sales Increase.Westchester Jumps Too!!!
NY housing market extends monthly growth trend with nearly 12-percent gain in July The New York State housing market posted its fifth consecutive monthly sales increase in July, according to preliminary existing single-family sales data accumulated by the New York State Association of REALTORS. The statewide median sales price jumped nearly 10 percent compared to…
Sluggish Market HITS!!! The Westchester Suburbs Hard!!!
The effects of a sluggish real estate market are everywhere. Read this article and learn more about the Westchester County NY market being affected. GET A FREE LIST OF DISTRESSED PROPERTIES DELIVERED TO YOU DAILY!!!!!!!! After reducing the price on his house in a tony New York City suburb to less than he paid for…
Borrowers Can Use the $8000 Tax Credit at Closing
First-time buyers using FHA financing will be able to use their $8,000 federal housing tax credit at the closing table, rather than waiting for a tax refund, according to an FHA document released today. The eagerly-awaited “mortgagee letter” spells out the details of the effort, which was first announced two weeks ago by HUD Secretary…
Foreclosures HALT Economic Recovery!!!
More than two years year after the housing market tanked and the foreclosure rate began rising, the ongoing wave of distressed home sales is weighing on house prices and crimping a long-awaited economic recover On Wednesday, President Obama signed off on the government’s latest response to the crisis, a whittled-down bill aimed at helping millions…
Buyers Jump at the Opportunity to Buy Foreclosed Homes
source:Builder magazine Buyer jump at the opportunity to purchase homes in foreclosure, or some state of distress. read more… Joint survey by RealtyTrac and Trulia also found a growing level of wariness about buying a distressed property. For better or worse, the share of Americans interesting in buying a foreclosed home has increased in…
How Long Does a Loan Modification Take?
source: Realty Times Understandably, homeowners who apply for a loan modification tend to get a little antsy and perhaps even annoyed when they apply for a loan modification and then fail to hear anything for several weeks, especially if they continue to receive late payment notices and nasty phone calls from collection agencies. Many homeowners…
Dredging of Pollutants Begins in Hudson
Source: NYTIMESThis information was written in the NYT.I think this is a good thing. After long battle, E.P.A. and G.E. begin a cleanup of PCB hot spots on the Hudson River. Hot spots of PCBS are mapped by GPS, and a dredge barge scoops up chunks of river mud putting it into a hopper barge,…
Foreclosure filings jump 24%
Source: CNNMoney.com NEW YORK (CNNMoney.com) — Foreclosure activity skyrocketed in March and the first quarter of 2009 to their highest levels on record as banks lifted moratoria on filings. Total foreclosure filings – which include default papers, auction sale notices and repossessions – reached 803,489 in the first quarter, according to a report released Thursday…
Your Payments are Late!| Will a Loan Modification Save Your Home??
source: realty times This article has some good information on helping you understand the new Obama Loan Mod. program. It has useful information The Treasury Department recently released its Home Affordable Modification Program Guidelines (part of its Making Home Affordable initiative), which include eligibility requirements to determine which homeowners qualify for relief under the plan….
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…
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…