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.
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.
With mortgage rates lower than most people could have ever predicted and more homes being sold on a monthly basis, we could be prepping ourselves for a housing market rebound. Just with any sort of market analysis, you’re going to get the folks who think that everything is fine and dandy, and you’re going to find writers who feel that everything is in a pre-apocalyptic state.
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.
Are you a transferee looking for inexpensive, yet impressive, housing? Here is more about the process and risks associated with purchasing a bank-owned 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.
Foreclosure filings have dropped to the lowest total since the fourth quarter of 2007, according to reports from Realty Trac. Also, mortgage-backed securities are up this morning.
Today, the Obama Administration announced steps to support FHA loan holders seeking a refinance and servicemembers and veterans who were denied a lower mortgage interest rate or unjustly foreclosed upon.
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?
CNN Money reports that several lenders have decided to stop foreclosures during the holidays. Even though evictions will stop during this time, the legal and administrative process will still continue.