Jane Schrodinger was aghast when she learned that she was $80,000 underwater on her “sad little condo” in Washington state. After all, she purchased the condo back in 2008, when prices were low and interest rates were attractive enough to make buying more sensible than renting. Smart move, right? . . .
Read more about Home Foreclosure
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If you’ve been following the mortgage and banking industry closely, you’ve probably heard about the $25 billion settlement the banks made with a consortium of 49 state attorneys general, plus the District of Columbia. In a nutshell, the banks agreed to the settlement to compensate for the “robo-signing” of foreclosure documents without following proper procedures, verifying that the lender had a legitimate . . .
Read more about The Robo-Signing Settlement
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International investors aren’t the only ones snagging deals on houses for sale in Las Vegas. Buying a foreclosed home, at current low interest rates, is attractive to first-time buyers as well. Although the competition from cash-rich investors presents a challenging obstacle, buying foreclosure houses in Las Vegas is entirely within anyone’s grasp. Investors buy only 30 percent of foreclosures at auction . . .
Read more about Foreclosure Houses for Sale in Las Vegas
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In 2005 the real estate market was flying high in the Winchester, Va. area. We were invincible. Even the most incompetent real estate agent could sell a house. Bidding wars, escalation clauses and heart-pounding ratifications were the norm, and we loved it. Then, September 2008 happened. The total sold properties in the Winchester/Frederick County area totaled 1,223 properties. . . .
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While it takes an enormous amount of talent, time and effort to reach star-status in the athletic world, all of it can vanish, seemingly overnight. Whether through misfortune or stupidity, the mighty can fall into financial ruin like everyone else, just on a grander scale. RealEstate.com did a little digging and came up with the dirt on how some über wealthy athletes ended up broke and in foreclosure. . . .
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Many forward-thinking individuals have recently invested in foreclosure properties with the hopes of turning them into income-generating rentals. And why not? There has never been a better time than right now to “buy low” in real estate, lock in amazing interest rates, and “sell high” in a few years when the market recovers. . . .
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With foreclosure inventories likely to shrink over the upcoming years – or at least level off after the recent historic climb – more and more homebuyers are feeling the urgency to snap up bargain homes and turn them into cash cows by renting them out. It makes perfect sense: Home prices and mortgage rates are at or near the lowest levels in more than a decade. . . .
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Foreclosed homes are often some of the most affordable homes in today’s real estate market, and both homebuyers and investors are attracted to them for their long-term financial benefits. If you recently purchased a foreclosed home or plan to in the near future, you might want to consider adding a few (or all) of the modifications listed below. . . .
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If you have an FHA-backed loan, you’ll be happy to learn that the United States Department of Housing and Urban Development (HUD) offers a program, known as the Pre-Foreclosure Sales Program, which allows the seller in default to satisfy his or her mortgage debt despite the fact that the home is worth less than what is owed. . . .
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Like vultures to carrion, scam artists choose people at their weakest point in life to swoop in and try to make the kill. Over the past five years, these fraudsters have turned their attention to distressed homeowners and have come up with a number of ways to separate them from their houses, all under the guise of “foreclosure avoidance.” . . .
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