short sales

Will 2011 Be The Peak Of The Foreclosure Crisis?

January 13, 2011

Real Estate analysts from RealtyTrac Inc. are predicting that 2011 will be the height of the Real Estate crisis with an expected 1.2 million homes being repossessed. Lenders are poised to take back more homes than at any other time since the crisis began in 2006. At this time there are 5 million borrowers who [...]

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Sales Of Previously Occupied Homes Lowest In 15 Years

August 24, 2010

July 2010 statistics on home sales or previously owned homes fell by more than 27 percent to a seasonally adjusted 3.83 million, the National Association of Realtors reported on Tuesday. This represented the largest monthly drop on record, dating back to 1968 and it also included every region of the country. This followed the expiration [...]

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America Underwater

July 23, 2010

The psychics predicted it. They predicted that a large portion of the United States would end up “underwater”. But I think we all expected something different than this. Up to 32.2% of all US mortgages are underwater. Meaning that they owe more than their home is worth and they cannot sell the home for enough [...]

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No End In Sight To The Housing Meltdown

July 13, 2010

The Rich are walking away from their mortgages in record numbers. More than 1 in 7 homeowners with a mortgage of over $1,000,000.00 are seriously delinquent, while the numbers of delinquencies on mortgages under $1,000,000.00 is just 1 in 12. 1 in 7? 1 in 12? And there seems to be no end in sight [...]

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Half The Hurdle Is Passed As Senate Okays Closing Extension

June 21, 2010

The Senate passed the proposal to extend the closing date for the $8000.00 homebuyers tax credit to September 30, 2010. On Wednesday, June 16, the amendment was ratified in a 60-37 vote, mainly along party lines, with only four Republicans voting for it (4?? Oh, how I would love to comment on that….but I won’t [...]

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Short Sale Solution

March 10, 2010

In an attempt to thwart the overload of foreclosures that is continuing to thwart the economy, a new program is encouraging banks and owners to agree on a short sale in order to sell the property and prevent a foreclosure. A short sale is when the bank or lending institution agrees to accept less than [...]

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