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Fannie Mae to Allow Borrowers in Foreclosure to Lease Back Homes
The housing market has shown some signs of recovery. Not to harm the housing market Fannie Mae launches this alternative. " Mortgage giant Fannie Mae said Thursday that it would throw a lifeline to some people losing their homes to foreclosure by allowing them to lease those... Young People Buy Foreclosed Homes for Investment
Many young people across the country buy foreclosed homes for investment. Home prices have declined as much as 50 percent in the previous months. " Home prices are at their all time low that many young people are... Abandoned Pets: Another Consequence of Foreclosure, Unemployment
An increasing number of abandoned pets have started filling up animal shelters to the brim. Most of these pets were left behind because of either unemployment or foreclosure. " In addition to homeless families, abandoned pets are also considered to be one of the unfortunate... Military Wives Try to Avoid Bank Foreclosed Home
Some military wives in Las Vegas, Nevada are fighting to avoid bank foreclosed home. They are hoping that loan modification would save their properties from foreclosure. " Military families have to deal with the difficulty and emotional hardship of seeing their loved ones... w/Foreclosures at All-Time High, Can Obama, House, be Re-Elected?
They Blew it On Bankruptcy Protection for Homeowners, and Now They're Getting Rolled on All-Important Health Care.Horrifying statistics have just been released by the Mortgage Bankers Association, which finds... 143 views | 4 recommendations | 1 comment
Second Major Foreclosed Bank Owned Property in Central Texas
The second major foreclosed bank owned land in Central Texas is located in Lake Travis’ south shore. The repossessed land was supposed to be the site of a high-end waterfront residential development worth $120 million. " The site of the high-end waterfront residential... Program Failed to Contain Foreclosed Homes in First 6 Months
The report that over 300,000 foreclosure notices were filed in June showed that the federal program crafted to contain foreclosed homes has not been progressing as planned. Almost 15 percent of all homeowners in... Program Saved Many Homeowners From Repo Houses for Sale
A Philadelphia program has successfully helped 60 percent distressed homeowners avoid turning their properties into repo houses for sale. And the program has become a model for other cities to follow to prevent the spread of foreclosures. " The Mortgage Foreclosure Diversion...Layoffs Increase Foreclosed Houses in Minnesota Counties
Joblessness has been the major reason for the rising number of foreclosed houses in St. Cloud, Minnesota and in other parts of Stearns and Benton. Local governments have been seeking funds to buy and repair foreclosed houses."As layoffs continue in the Minnesota city of St....Loan Rule to Benefit Banks and Reduce Bank Owned Foreclosures
Banks are invoking a 4-year-old accounting rule that standardizes how they book bad loans. The rule will help boost banks’ revenues and reduce Bank Owned Foreclosures."A 4-year-old accounting regulation that standardizes how banks acquired loans is expected to help the...City Services and Programs Stop Bank Foreclosed Homes for Sale
To control the spread and devastating effects of bank foreclosed homes for sale, the city of Indio launched several programs and services to fight foreclosure. These include the foreclosure ordinance, Housing... Victoria Gotti Mansion Foreclosure: Blames Carmine Agnello
Victoria Gotti, the daughter of late Mob boss John Gotti, is facing the foreclosure of her Long Island mansion, the same home used in the spray-tan-heavy reality show, Growing Up Gotti. " A lower court had found in...
created by Blaine Metzgar | 25 wks ago | updated 25 wks ago
829 views | 2 recommendations | 1 comment
829 views | 2 recommendations | 1 comment
Federal Rescue Fail to Save Spread of Repo Homes
The increasing number of repo homes continue on its upward climb despite the U.S. Federal Reserve’s pledge to purchase over $1 trillion bonds and the flock of borrowers who applied for home loan mortgages. " The latest effort of the federal government to revive the ailing... Freddie Mac Cuts Down Government Foreclosures
Freddie Mac has suspended government foreclosures for mortgage loans qualified for any of the housing schemes offered under Obama’s program, the HOPE NOW program and other federal loan modification programs. " Freddie Mac showed its commitment to help ensure the success of... 35 Counties Push Up Foreclosures by State Rankings
A USA Today study contends that foreclosures in 35 counties located in just a few places high on foreclosures by state rankings may have started the crisis that battered mortgage banks and ultimately the whole country. " Thirty-five counties accounted for over 50 percent of...
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