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,…
Tag Archive: Short Sales
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….
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…
Find Out What you need to know about The New Loan Modification Plan from Obama
At the heart of the President Barack Obama’s ambitious plan to rescue the housing market is the conviction that restructuring distressed mortgages will keep struggling borrowers in their homes and help insert a floor beneath plummeting property values. With $75 billion dedicated to reworking troubled loans , that’s a big bet-especially considering that a top…
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…
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…
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…