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foreclosure: Rate of Foreclosure Still High - 12/02/10 03:37 PM
The topic of foreclosure has been on the minds of many Americans as the market makes it way towards recovery.
According to the Mortgage Bankers Association, the mortgage delinquency rate declined in the third quarter.
They report that in the United States, it "declined last quarter amid hints of improvement in the job market, but headwinds from defaults and a rising rate of new foreclosure applications keep the housing outlook muddied."
Still, some experts say the winter will continue to be cold for many fearing default.
Zillow.com reports that foreclosure liquidations have reached a new peak, with over 1.17 of … (3 comments)
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foreclosure: Real Estate Outlook: Freeze Over In Many States - 11/08/10 02:40 PM
Part of the freeze is over for 23 states. Bank of America has announced that foreclosures are resuming in over two dozen states. The bank says in its review, it has not found a single occasion where a foreclosure proceeded in error.
"We voluntarily paused our process in the 23 judicial states, not because there was evidence of problems -- there was not -- but because we wanted to ensure our customers they are being treated fairly," said Dan Frahm, a bank spokesman.
Guy Cecala of Inside Mortgage Finance, an industry publication, reports that "this draws a line in the sand … (1 comments)
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foreclosure: Survey Reveals Buying Still Appeals - 11/05/10 01:35 PM
If you think buying a house still makes sense even in today's economy, welcome to the club!
A recent National Association of Realtors survey revealed that nearly eight out of ten believe buying a home is still a good financial decision.
The eighth annual Housing Opportunity Pulse Survey found that despite job security concerns being the highest reported in the last eight years, buying is still on the minds of Americans.
More than two-thirds of those surveyed, 68 percent, still think that "now is a good time to buy a home." And though cost remains an impediment for many buyers, the … (1 comments)
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foreclosure: Defending Your Home Base Against Foreclosure - 11/03/10 02:43 PM
Throughout Florida, we see the number of foreclosures continue to rise. While Winter Park may have been more stable when the housing crisis began, the community is now feeling the impact of the foreclosure wave that is washing over our state and nation.
A recent report by RealtyTrac, Inc. found that Orlando's four county region, including the city of Winter Park, had nearly 8,000 homes with a foreclosure filing, notice of foreclosure or repossession by a lending group. This figure has doubled since last year's data collection. Now, more than ever, I hear from worried homeowners asking questions like: "What should … (0 comments)
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foreclosure: How to Recognize a Buyers Market - 11/01/10 03:40 PM
Are you on the search for a new home? Are you a first-time home buyer ready to enter the market? Then a buyers market is right where you want to be!
Recent years have turned many real estate markets on their heads. One-time hotbeds for rapid appreciation and booming sales have turned into areas rampant with dropping prices and foreclosures. Making matters even more complicated, is the realization that every market is different. Even neighborhoods within cities have varying markets.
How can you tell if you are living in an area experiencing a buyers market?
Key Indicators: … (0 comments)
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foreclosure: Considering Short Sales - 10/22/10 11:20 AM
In today's economic climate, many families are finding themselves in dire straights. The home that was once a blessing has now become a financial burden.
In an attempt to avoid foreclosure, which can reap havoc on one's credit for years to come, homeowners are searching out details on short sales.
In simple terms, a foreclosure is when, after defaulting on payments (typically after 3 months), an estate becomes the absolute property of the lender. And what's more, in some cases you, the homeowner, may also be responsible for "deficiency judgments." These mean if the sale of the foreclosed property … (0 comments)
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foreclosure: Rules Change for Getting Home Loans - 10/15/10 10:21 AM
The Mortgage Bankers Association reported recently that mortgage applications decreased according to their weekly survey (ending 6/18/10). However, some banks are hiring mortgage lenders—a sign that banks are optimistic that requests for housing loans will increase.
J.P. Morgan Chase is planning to hire 1,200 loan officers, according to CNNMoney.com. Christine Holevas, a spokesperson for the bank said, "We may not be inundated with applications tomorrow, but we are confident the need will be there." Despite any slight downturns, expected increases in the mortgage business are estimated to go from $725 billion in 2010 to $916 billion by 2013, according to … (0 comments)
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foreclosure: Foreclosures On Auto-Pilot? - 10/07/10 11:55 AM
The recent news of "robo-signing" (signing off on foreclosures without reviewing and verifying the information in the documents) has chilled the rapid pace of foreclosures... at least for now.
JPMorgan Chase has frozen foreclosures in about half the country due to the paperwork fiasco.
"It didn't surprise me. You're talking about foreclosure mills that run thousands of foreclosures a month; how can the attorney filing on behalf of them have personal knowledge of all those files," says attorney and educator, Lance Churchill, President of FrontlineSeminars.com.
It's being reported that up to 56,000 foreclosures are affected. An employee for JPMorgan Chase said … (1 comments)
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foreclosure: How to Recognize a Sellers Market - 09/29/10 12:23 PM
As a homeowner, and a prospective seller, you may be wondering if now is a good time to put your home on the market. But how can you tell if the market is in your favor at this time? Will you lose money or make money? Is it a "sellers market"?
These are all very important questions. And the answer is in the market statistics.
As a seller, one of the first things you must evaluate is the desirability of your location. Market conditions are extremely localized statistics. While the national economy and housing market tie every area of … (1 comments)
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foreclosure: Avoid Foreclosure - 09/28/10 02:36 PM
In a country with a growing foreclosure rate, new default notices being sent every day, and an unemployment rate over 9 percent, the chances of foreclosure affecting you or someone you know is on the rise.
RealtyTrac.com reports that in August 2010, foreclosure filings rose by 4 percent, with 338,836 new filings, affecting one in every 381 households.
If you find yourself struggling to make your payments, here are some ways to avoid foreclosure.
First, be realistic about your situation. Answer phone calls from your lender and open your mail. This is the time to face your problem head on. Could a … (2 comments)
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foreclosure: Foreclosure: How It Works in Massachusetts and How You Can Avoid It - 04/03/10 06:58 PM
The foreclosure process is difficult, painful and bad for your credit. With the difficult economy and high unemployment rates, many people need to look at their options—before it is too late.
The Foreclosure Process
Before an official Massachusetts foreclosure sale can occur, a ruling from the land court is required. If the home owner is an active member in the military, then his or her home may be protected under the Soldiers’ & Sailors’ Civil Relief Act, and the foreclosure may be postponed. However, once the land court makes a judgment authorizing the foreclosure, the lender may begin the sale … (1 comments)
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foreclosure: Foreclosure: How It Works in Massachusetts and How You Can Avoid It - 03/04/09 12:57 PM
The foreclosure process is difficult, painful and bad for your credit. With the difficult economy and high unemployment rates, many people need to look at their options-before it is too late.
The Foreclosure Process
Before an official foreclosure sale can occur in Massachusetts, a ruling from the land court is required. If the home owner is an active member in the military, then his or her home may be protected under the Soldiers' & Sailors' Civil Relief Act, and the foreclosure may be postponed. However, once the land court makes a judgment authorizing the foreclosure, the lender may begin the sale … (0 comments)
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Miro Fitkova
Boston,
MA
More about me…
Fitkova Realty Group
Address: 1318 Beacon St., Suite 16, Brookline, MA, 02446
Office Phone: (617) 232-3220 x 101
Cell Phone: (617) 921-9952
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