Persistence: Key to Avoid Foreclosure and Bankruptcy Houses

Homeowners and industry experts agree that the federal, state and local efforts to stave off foreclosure and bankruptcy houses by modifying or refinancing loans are not working as expected. The problem is the underestimated length of time it takes to complete the process. "...

Drop in Mortgage Interest Rates: An Opportunity for Homeowners Facing Foreclo...

The weekly survey conducted by U.S. Federal Home Loan Mortgage Corp. or Freddie Mac showed that interest rates for a 30-year fixed-rate mortgage declined below 6 percent on average for the week ended November 26, 2008."This decline in interest rates provided opportunities to...

Florida Governor Crist Backtracks on Foreclosure Moratorium

Florida Governor Charlie Crist has taken back his proposal of suspending foreclosures across the state during the holidays after meeting with Alex Sanchez, the president of the Florida Bankers Association. "Sanchez has apparently explained the position of the banking industry...

Foreclosures Significantly Down to 2008’s Lowest Levels

The significant drop in numbers for pre-foreclosure filings and foreclosed homes last October is a good indicator that the real estate industry is slowly getting back on its feet. Levels dropped to its lowest since February. Credit this to the efforts posted by banks,...

FDIC Proposes to Spend $24 Billion Federal Funds to Address Foreclosures

The Federal Deposit Insurance Corp. (FDIC) is planning to use an estimated $24 billion in federal funds to help nearly 1.5 million homeowners in the United States avoid foreclosure."The program includes providing guarantees to 2.2 million loans that have been modified,...

New Law Reduces Los Angeles Foreclosures by 50%

If you are wondering whether or not mortgage lenders have been helping homeowners stay in their homes and avoid foreclosure, you might get your answer from the most recent foreclosure data for Los Angeles. Foreclosure rate dropped for the month of October after a state law...