Facing foreclosure is an unpleasant situation to be in – particularly around the holiday season. However, some of the largest mortgage lending organizations released a bit of hopeful news to those with homes in foreclosure.
Tag Archives | Foreclosure
As you most certainly know – or should know – by now, Hurricane Sandy tore up the east coast like that kid whose mom deactivated his World of Warcraft account. What you might not know is that Freddie Mac found it in the goodness of their heart to suspend evictions and foreclosures in homes secured by Freddie Mac in eligible disaster areas.
If you’re a homeowner, the last thing you want to happen on your block is a foreclosure. When your neighbor’s home is foreclosed, the property values in your neighborhood are sure to take a dive. Here are some steps you can take to protect your property value from your neighbor’s foreclosed home.
Bankruptcy is a bummer. No one has ever said “OH MAN! I’m so excited to file bankruptcy! It’s going to make everything so awesome!” That being said, sometimes it needs to be done. If you have explored all of the alternatives and have decided to file bankruptcy, it’s important that you know what your options are and how they will impact your existing mortgage, or your future ability to obtain home loan financing.
Federal officials are hoping to launch a pilot program allowing investors purchase foreclosed homes in bulk. Some argue that this could help the housing market recover by turning abandoned houses into occupied homes. On the other hand, there are some that say this program could actually hurt the market even more. Do you think this type of programs can help or hurt the housing market?
The housing market is expected to hit the rock bottom that has been talked about for the past few years in June 2012 according to analysts.
President Barack Obama is scheduled to announce new refinancing regulations to help those whose homes are valued less than their mortgage.
Two months from now, Freddie and Fannie will be implementing new, more rigid standards for mortgage rate regulation. Will you be affected?
More than 2,000 mortgage jobs have been lost this year according 2011 second-quarter reports. However, a recent refinance wave may help numbers pick back up.
Do you know your rights after foreclosure? Learn the rights of both the borrower who lost the home to foreclosure and the buyer of the foreclosed property.