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…
Tag Archive: Distressed property
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…
Not Impossible to get a Loan|Loan Myths
RISMEDIA, February 19, 2009-(MCT)-The freewheeling days of doling out cars and homes to just anyone are over. With the nation facing a deepening financial crisis, banks have tightened their credit standards. Yet, lenders say it’s still possible for the average person to qualify. Here’s how to get that loan. Car loans A consumer’s down payment,…
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…
First Time Homebuyer Tips|Distressed Deals
Buying a home can be a long, complicated and frightening process, and it is important to be prepared. Knowledge is power when it comes to negotiating the difficult world of home prices, interest rates and mortgage loans. For a first time home buyer, there are many factors to consider before you buy. The more information…
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…
"What Crisis" Be Confident — Good News for Qualified Buyers?
All the talk in the news media is negative. We need to be positive and accept that we are in a realigning to reality. Stop listening to negative reports today. A recent survey released by Trulia, a real estate search engine, community forum center and reporter of market trends and data, found that a “crisis…
Hope for Homeowners
Hud list of approved Hope for Homeowners Lenders HUD officials have compiled a list of lenders participating in the HOPE for Homeowners program, which they say could help as many as 400,000 homeowners avoid foreclosure by refinancing problem loans into new 30-year fixed-rate mortgages insured by the Federal Housing Administration. When released by the…