bank owned: What is driving market prices? FORECLOSURES ~ Up over 80% in 2008
- 02/03/09 02:09 PM
According to RealtyTrac 2008 U.S. Foreclosure Market Report, foreclosure filings were up 81 percent in 2008. Sad to say for homeowners who bought in the last few years who need to sell, but these properties are the driving force in the market now. Eviction notices, sheriff sales and bank repossessions seem to be everywhere. There were 3,157,806 foreclosure filings, reported during 2008, an 81 percent increase in total properties from 2007 and a 225 percent increase in total properties from 2006, according to the report. 1 in 54 homes filed for foreclosure. November 2008 to December 2008's foreclosure filings were up … (1 comments)
bank owned: BUYERS: What is a HUD home and how can you buy one?
- 02/03/09 01:31 PM
What is a HUD Home?A HUD home is a 1 to 4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim. Who can buy a HUD Home?Almost anyone! If you have the cash or can qualify for a loan (subject to certain restrictions) you may buy a HUD Home. HUD Homes are initially offered to owner-occupant purchasers (people who are buying the home as their primary residence). Following the priority period for owner occupants, unsold … (1 comments)
bank owned: Homeowners: Is your home in jeopardy? Consider a short sale
- 01/21/09 01:26 PM
Is your home in jeopardy? Are you behind on your bills? Are your mortgage payments behind? Did your interest rate just jump way up...or is about to? Did you or your spouse just lose their job? Facing a separation or divorce? Death or serious illness in the family? Home no longer worth what you paid for it? These and other life altering events can have a major impact on your ability to stay current with your mortgage. If you fall behind on your mortgage payments your are at risk of losing the real estate you own. In this market there are … (1 comments)
According to RealtyTrac 2008 U.S. Foreclosure Market Report, foreclosure filings were up 81 percent in 2008. Sad to say for homeowners who bought in the last few years who need to sell, but these properties are the driving force in the market now.
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