Owner: Foreclosed Properties URL:http://www.foreclosedpropertiesdata.com/blog/ Join Date: Thu, 20 Mar 2008 09:12:37 -0500 Rating:0 Site Description: News and Articles about repo homes and foreclosed properties. Site statistics:Click here
New Century Faces More Credit Crisis 2008-03-18 08:04:07 As one of the largest subprime mortgage lenders in the nation, New Century
escaped its credit troubles a decade ago when US Bancorp decided to give the company fresh capital. Unfortunately, their run recently ran out as brokerage firms and Wall Street banks have decided to take back the billion dollar credit line it gave a couple of months ago. Read more:Crisis
, New Century
Legislators to Close FHA Reform Deal 2008-03-13 08:19:56 Struggling to reduce the negative impact of the present mortgage crisis, Congress finally feels confident that a bill providing safe alternatives to subprime housing loans will soon be sent to the President for signature. Read more:Legislators
, Close
, Reform
The Best Time to Buy is NOW! 2008-03-11 08:56:34 After surveying over 330 housing markets; the National City Corp and Global Insight discovered that over 88 percent of these markets showed a decline in home prices. Such decline surprisingly improved home affordability, creating the perfect opportunity for buying.
According to the same report, the housing market may soon become broadly-over valued since home prices are expected to decline further in the coming years. With interest rates remaining steady, buyers will surely enjoy additional advantages. The large inventory of foreclosure properties is also seen as a contributing factor to the plummeting home prices.
Bush Administration to Veto Bill Addressing Foreclosure Crisis 2008-03-02 14:06:59 The US housing market has been under a lot of stress lately especially with the growing inventory of foreclosed properties. These foreclosure homes are homes that have been repossessed because the owners failed to pay their mortgage dues. Because of this, lenders have no choice but to recover their losses via foreclosure. As of 2007, the number of homes that entered some foreclosure stage has reached millions – causing much distress on the national housing market. Read more:Crisis
, Administration
, Addressing
, Foreclosure
, Bush Administration
Mortgage Applications Plunge 2008-03-24 10:13:02 At the end of the second week in March (March 14), the volume of mortgage applications plunged by almost 3 percent. This is according to a survey conducted on weekly applications by the Mortgage
Bankers Association. The index fell from 671.7 to 652 that same week. Read more:Applications
Presidential Hopeful Dismisses “Politics” in Housing Crisis 2008-03-28 07:25:06 With election fever hitting the country, many citizens are wondering how these Presidential
candidates will address the crisis in the real estate market. Republican nominee John McCain stated Tuesday that the national government should not focus on rewarding or saving borrowers and lenders caught in this fiasco. Instead, he would like to consider proposals based on benefits and costs. Read more:Hopeful
, Housing
, Crisis
Builders: Demand for Homes Recovering by 2010 2008-04-16 06:40:05 Considering the present crisis in the housing market, it is not surprising that the National Association of Home Builders
projects that the normal demand for newly-built homes may only return by 2010.
During the previous housing recessions, the market recovered quickly but this time it is taking longer. Sustainable and long-term stability in the housing market [...] Read more:Homes
Three Ways to Fix Subprime Crisis 2008-04-18 07:14:46 With the subprime industry suffering from a serious meltdown, experts including consumer advocates and presidential candidates offer some suggestions on how to fix this continuing crisis that resulted to millions of foreclosure homes for sale.
Bankruptcy Code
According to Senators Christopher Dodd (Connecticut) and Richard Durbin (Illinois), the damages caused by the present mortgage and credit crisis [...] Read more:Three
, Subprime
, Crisis
Poll Results: Number of People Not Buying Homes Growing 2008-04-23 07:42:00 According to a poll conducted by the Associated Press-AOL Money and Finance, there is an overwhelming 60 percent increase in the number of people who are not entertaining the idea of buying a house anytime soon; up from 53 percent in September 2006. This is perhaps the latest sign that the housing crisis is yet [...] Read more:Number
, Buying
, Homes
, Growing
Foreclosures Invade the Wealthy 2008-04-30 07:35:33 What was once considered a poor man's disease, foreclosures have hit the wealthy also. The New York Times reports that the stereotype of only the poor, the subprime borrowers, the irresponsible feel the affect of repo homes and foreclosed properties has now been proven to be false. Greenwich Connecticut, with its 7 figure properties is feeling the pain also. Read more:Foreclosures
, Invade
, Wealthy
People are forced to leave their houses, and many, their pets also 2008-05-05 08:33:35 Saint was only six months old when his family’s home was repossessed due to foreclosure. Saint found himself at an Animal facility, frightened, confused and terrified.
When Pamela Hawes learned of Saint’s plight, she immediately adopted him. Saint cried all the way to his new home.
“He was like, where am I going?” Hawes, 45, recalled.
Animals like [...] Read more:forced
, houses
$15 B Housing Bill Approved by House Panel 2008-05-07 07:21:23 Despite objections from the Republicans, the Democrats managed to push a housing bill that is worth $15 billion. The opposition considered the bill to be a government giveaway or bailout.
If passed, the housing bill will mean that counties and cities suffering from the worst of the foreclosure crisis will receive federal grants and loans for [...] Read more:Housing
, House
, Panel
A 112% Spike in Foreclosures: Is This the Beginning? 2008-05-09 10:49:24 What a year 2007 was! But what a year 2008 is going to be as far as foreclosed homes are concerned is yet to be seen. According to the last report, almost 155,000 families had lost their homes through foreclosure proceedings, which is a rate of one per 194 homes in the US. The worst fear for the government is how many more foreclosed properties will they get to see this year? Will the number of repo properties increase? Will there be more delinquencies? What is the proposed solution for fighting or stopping foreclosure? These are just some of the questions that seem to haunt the government, lenders and housing authorities like HUD. Read more:Spike
, Foreclosures
Mortgage Lenders Eyed by Lawmakers 2008-05-13 06:37:34 Allegations that mortgage brokers and lenders are abusing the bankruptcy code were being considered by the Senate Judiciary Subcommittee on Administrative and Oversight and the Courts.
It seems that many troubled homeowners who are being pressured to pay their mortgage debt plus certain fees, if they do not want to lose their home to foreclosure. Sadly, [...] Read more:Mortgage
, Lenders
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