silver spring foreclosure: Negative Equity Does Not Justify Strategic Default
- 09/27/12 04:26 AM
According to Zillow’s Negative Equity Report, about 15.7 million homeowners – or 31.4 percent – are underwater. Of these homeowners, one out of every ten are delinquent on their mortgage – 10 percent of which are 90 days past due. “While it was disappointing to see negative equity numbers remain so high, it is important to note that negative equity remains only a paper loss for the vast majority of underwater homeowners,” said Zillow Chief Economist Stan Humphries. “As home values slowly increase and these homeowners continue to pay down their principal, they will surface again.” Unfortunately, some homeowners view negative equity as … (0 comments)
silver spring foreclosure: How to Request Foreclosure Alternatives from your Lender
- 09/19/12 10:33 PM
These can be scary times for homeowners across the nation. It seems every time the news is on, there is some depressing report about high unemployment, underwater homes and an abundance of Americans losing these homes to foreclosure. Having a home foreclosed upon is traumatic, both emotionally and financially. Fortunately, there is an option that will allow you to take back control: a short sale. If you are struggling to keep up with your monthly mortgage payments, or are already falling behind, then a short sale might be your best option. However, a short sale should still be a last resort. Other … (0 comments)
silver spring foreclosure: Information for Distressed Homeowners in Silver Spring, MD
- 09/12/12 10:56 PM
The unusually low inventory of homes for sale in Silver Spring, MD is causing the value of homes to improve. Active inventory has decreased 47 percent since this time last year, and the median sales price has increased from $300,000 to $325,000 in the past 12 months. Homes are also selling faster than they were one year ago – 41 percent faster. The number of units sold has remained stable, with 250 sold this month in Silver Spring, MD – an increase of 17 percent. In July there was 2.3 months of supply available, compared to 5.1 months last July – … (0 comments)
silver spring foreclosure: Market Report for Montgomery County, MD
- 09/05/12 10:02 PM
If you are having trouble making the monthly mortgage payments on your Montgomery County, MD home, know that you’re not alone. In July, 1 out of every 2,041 homes received a foreclosure filing. The highest percentage of these filings was in Silver Spring, Gaithersburg, Burtonsville, and Clarksburg. 1 out of every 2,066 homes in Silver Spring, MD received foreclosure notices in July. 1 out of every 1,163 homes in Burtonsville, MD received foreclosure notices in July. 1 out of every 1,000 homes in Gaithersburg, MD received foreclosure notices in July. 1 out of every 859 homes in Clarksburg, MD received foreclosure notices in July. Total foreclosures in Montgomery County, MD have doubled in … (2 comments)
silver spring foreclosure: How to Short Sell your Silver Spring Home
- 08/30/12 02:31 AM
If you are a distressed homeowner looking for foreclosure alternatives in Silver Spring, MD, then I may have some good news for you. Mortgage servicers are working harder than ever before to prevent property foreclosures. Such alternatives can come in the form in a loan modification, principal reduction, refinance, or short sale. A short sale occurs when: A homeowner is 'short' the amount owed on his/her property because this amount is higher than current market value. A negotiation is entered into with the homeowner's mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the … (0 comments)
According to Zillow’s Negative Equity Report, about 15.7 million homeowners – or 31.4 percent – are underwater. Of these homeowners, one out of every ten are delinquent on their mortgage – 10 percent of which are 90 days past due.
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