Real Estate News Blog October Archive

Real Estate Industry Leaders Give Outlook

By Art C Ryter at 10/16/07 01:57

Suggests that financial banks and real estate industry leaders must get back to basics in their lending policy, checking credit ratings and verifying savings before qualifying borrowers for loans. Many will be needing to work with the FHA to refinance and avoid foreclosures.

Original source: . Real Estate Industry Leaders Give Outlook

You can pay your mortgage, but won't: 'Walkaway,' beware

Urges owners who are close to losing their homes through foreclosure to seek help from their lenders. Lenders are increasingly bending over backwards to help borrowers keep current with their payments if they have legitimate reasons for not being able to make full payments, such as job-loss, health concern or accident. Those people who can afford to pay but choose not to for what ever reason are being tracked with advanced technology and will be pursued to comply with the letter of the law. Investors looking for some action have been buying loans at 50% to 60% discount and may be willing to settle terms with willing, and cooperative homeowners.

Original source: . You can pay your mortgage, but won't: 'Walkaway,' beware

Subprime Bailout Backlas

Highlights the rising backlash against any form of bailout being proposed to help people avoid foreclosure. The subprime mortgage mess has unleashed a lot of support for homeowners who might lose their home due to rising interest rates. But people who were playing it safe and did not get into the market were/are hoping that prices will come down to reasonable levels. If there is a bailout or some other way to help people avoid foreclosure, maybe through refinancing, many prospective buyers are not going to be happy.

Original source: . Subprime Bailout Backlas

The American Dream in Reverse

Advocates the passage of a bill by Congress to aid home buyers facing foreclosure by giving them access to restructuring through bankruptcy court. The editor also suggests that loan servicers and the mortgage industry attempt to meet potential foreclosure victims needs to refinance, and maintain home ownership levels.

Original source: . The American Dream in Reverse

Housing: That Sinking Feeling

Residential housing developers have been slashing prices in order to to keep the housing market humming. The sometimes drastic price reduction has affected foreclosure refinance attempts by early buyers due to the decline in home value. It's a better time to buy, maybe even for investors, especially in over built places like Las Vegas, Nevada, and the Inland Empire in Valifornia. Oops! That's California

Original source: . Housing: That Sinking Feeling

FDIC to Mortgage Servicers: Freeze ARM Rates

Hope is on the horizon for homeowners who bought their houses with Adjustable Rate Mortgages that have not reset. The Federal Deposit Insurance Company is asking that mortgage servicers make the low ARM rates (those issued in the past two years) fixed rates in order to avoid risk of rising foreclosures. In essence, this is like a mortgage refinance but better in that the leading central bank in the United States is putting the pressure on lenders to work out the details.

Original source: . FDIC to Mortgage Servicers: Freeze ARM Rates

Boom, Bust in Area Beset by Foreclosures

Relates numerous tales of disappointment and deception in the failed housing market in Phoenix, Arizona. Many speculators and legitimate home buyers from California and Nevada descended on Phoenix to buy new home construction that was rising in price thousands of dollars a week. Now, there are hundreds of vacant homes, many foreclosed on with no relief from refinancing or better terms in sight.

Original source: . [404 Check: was link to http:/ / news. yahoo. com/ s/ ap/ 20071006/ ap_ on_ re_ us/ leaving_ homes, anchor: Boom, Bust in Area Beset by Foreclosures]

Foreclosure Help Website

Handy little website with information about forclosure, mortgage refinance, foreclosure refinance options and ways to avoid foreclosure.

Original source: . Foreclosure Help Website