The state of the US economy is not really showing any great signs of improvement. The rise in the number of foreclosure cases is only adding more troubles. People are being rendered homeless as they are being unable to pay the mortgages and the banks aren’t able to recover the money as the citizens do [...]
Foreclosures on the rise. Is the help too little and too late?
September 2nd, 2010Twin Programs by Obama Administration to Fight Foreclosures
August 31st, 2010The Obama administration intends to start two programs: an emergency scheme for unemployed homeowners and a federal mortgage refinancing program to aid home owners even as home sales plunged in July. Shaun Donovan, Housing and Urban Development secretary said that July figures were worse compared to what they expected and that is why the Obama [...]
Which Are The Programs That Are Currently Recording Success In Preventing Foreclosures?
August 30th, 2010As the U.S government continues to work with lending agencies and home owners in a bid to bring down foreclosures some positive results are finally showing up with a series of programs achieving success. The success rate of the foreclosure prevention programs are more distinct in the states of Texas, North Carolina, Ohio and Florida [...]
Federal Housing Authorities Offer Mortgage Aid for Unemployed Homeowners Facing Foreclosures
August 27th, 2010The U.S Treasury Department has allocated funds to all the state housing agencies to help plan a mortgage aid program for unemployed home owners. This plan has already taken effect in Ohio, Oregon, Rhode Island, North Carolina as well as South Carolina where the Federal Housing Authority has received approval for helping home owners through [...]
Lifelines in the fight against Foreclosures
August 26th, 2010The American dream seems to have gone awry. The doldrums in the housing market especially rising foreclosure properties has upset the economic recovery. Around 1.65 million properties are facing foreclosure and housing prices are touching record lows. Despite the sorry picture the good news is that there are several lifelines for struggling home owners trying [...]
Obama Administration and the Score Card on the Foreclosures Crisis
August 25th, 2010The efforts of the Obama administration to prop up the housing market resulted in making homes increasingly affordable and consolidated the stabilization of home prices, according to the department of Treasury. But it stressed that more efforts work needs to be taken to combat foreclosures for sale.
Housing prices stayed stable in July completing 30 months [...]
Foreclosures in High Demand Amongst First Time Home Buyers
August 24th, 2010The large number of foreclosures that have hit the housing industry in the U.S has opened a golden opportunity for first time home buyers. For the first time ever a record number of mid income families are opting for real estate investment through foreclosed homes for sale and are purchasing their own property instead of [...]
Struggling Home Owners facing Foreclosures can Benefit from Loan Modification
August 20th, 2010If you are home owners struggling against foreclosures, you need to consider loan modification as one of your options without any delay. This is due to the fact that housing foreclosures are a tangled web to unravel.
But sometimes loan modification procedure could falter because of the lack of trained staff on the part of lenders [...]
Foreclosure Assistance Programs to the Aid of Home Owners Combating Foreclosures
August 19th, 2010Struggling home owners across the country are being helped to fight foreclosures for sale by various programs – like Loan modification, Short Sales and deeds in lieu.
Loan modification is led by the government’s HAMP (Home Affordable Modification Program) which has targeted home owners who were refused loan modification by their lenders. There are a [...]
How Lenders Handle Foreclosure Prevention through Loan Modification
August 18th, 2010Many home owners struggling to handle foreclosures of their properties are not aware that lenders prefer loan modification over the process of foreclosures. Loan modification may be a complicated procedure for lenders but compared to foreclosures, it is much better. This is due to the fact that loan modification saves much time compared to foreclosures [...]
