October 4th, 2009 — Real Estate
If you’ve been looking for foreclosed homes for sale in DC, Maryland, Pennsylvania or Virginia, and wanted to try web search, here we have a collection of some really good web resources. Making your search of foreclosed homes in DC, MD, PA and VA easy, we bring you the list of foreclosed homes search websites. Here it goes:
September 10th, 2009 — Foreclosure, Housing
The upset Maryland homeowners are facing a huge number of foreclosures in nearly a year and a half as state officials and observers worry that a new wave of foreclosures is about to slam the state’s already-struggling economy, mainly due to the increasing unemployment.
According to the state’s statistics, August 2009 foreclosure filings in the state were up nearly 70 percent over August 2008, and up 6.6 percent compared July 2009, as released by Irvine, Calif, a RealtyTrac Inc. company that tracks foreclosure filings nationwide. It is the fifth consecutive monthly increase in the year-over-year foreclosure rate. In August there were 5,491 Maryland homes in some stage of the foreclosure process, the most since April 2008, when there were 6,011.
Back then, the state’s housing market was so slammed with delinquent mortgages and distressed homeowners that lawmakers rushed through an emergency statute to delay the foreclosure process and allow homeowners to renegotiate the terms of their loans.
Loan modification has not been fully obtained in the state, and it may sound one big reason for the whole situation.
August 11th, 2009 — Mortgage Loans, Mortgage News
One plan making the rounds in D.C. is Right to Rent: a program, first floated some two years ago by liberal think-tanker Dean Baker that would allow folks who have lost their home to foreclosure to continue living in the home as a renter.
As Baker sees it, giving the person facing foreclosure the right to rent their home at a market rate for a long stretch, i.e. five to 10 years is a win-win. This way the landlord, i.e. investor or bank gets market rental income, the homeowner isn’t uprooted, property values aren’t further depressed by foreclosure fire sales, and taxpayers aren’t asked to bail out lender or borrower.
In mid-July a Treasury official confirmed the administration is mulling the idea. The House has supplied traction too, recently passing the Neighborhood Preservation Act, which would permit FDIC-insured banks to lease back homes to folks it has foreclosed on. Did you catch that artful spin? This isn’t solely about helping the foreclosed; it’s about protecting your neighboring home’s value.
Read a detailed article at CNN Money
August 5th, 2009 — Mortgage Modification
Are you afraid of foreclosure? You are not alone, there are many, but the good thing is that you can avoid it fully. Getting a mortgage loan modification is one of the ways that prevent you from having foreclosure. So, you can stay in your home and avoid foreclosure with the help of mortgage loan modification program.
Since the start of the recession, it became quite difficult for many of the home owners to make their mortgage payment on time. You know that your mortgage payment is the most essential bill you have to pay, so, it is very important to find some type of backing if you cannot make the payment.
A good step taken by government is that they decided to help out and do everything in their power to keep Americans in their homes. If you have trouble with your mortgage payments maybe a mortgage loan modification is right for you.
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