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….
Tag Archive: Foreclosures
AMAZING|Homes not Selling: Bank Decides to Demolish Homes. WOW!!!
I found this article in the Wall Street Journal. I thought it was a clever way to handle the Real Estate Crisis. A video of a backhoe knocking down homes in Victorville, Calif., was posted on YouTube by the founder of a Web site called Vision Victory. A Texas bank is about done demolishing 16…
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
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…
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…
"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…
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…