yonas woldu: New Loan Modification Plan - Formula for Success or for Delayed Foreclosure? - 03/27/09 03:02 PM
The government just introduced a slick new website to help consumers figure out if they qualify for the refinancing or loan modification plans underwritten by the new Making Housing Affordable program. As we discussed in last week's blog, not everyone will qualify for the programs. On the loan modification side, it's … (0 comments)
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yonas woldu: How fair is housing rescue? - 03/18/09 09:06 AM
In the wake of the stimulus plan and the housing recovery plan announced by the President last month, there has been a lot of discussion about what's fair in the plans. Who was helped? Who should have been?
The $275 billion housing stability plans seeks to help two groups of homeowners:
… (0 comments)
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yonas woldu: Coming Soon to an MLS Near You - 03/04/09 12:06 PM
Ever wonder why all those foreclosed homes seldom show up in MLS propriety searches on agent websites? Obviously, when homes are foreclosed, they are not zapped out of existence. They continue to blight our neighborhoods, so where are they?
Up to this point, banks have reclaimed ownership of the properties; they … (0 comments)
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yonas woldu: $8,000 Tax Credit in Hand, Bargain Your Way to a Great Deal - 02/25/09 04:39 AM
Bargaining has always been part of the real estate experience. Sellers typically price their homes knowing they will get less than their initial asking price, while buyers regard "getting a deal" as a satisfying part of the buying process. In a buyers' market, where some sellers who need to move their … (2 comments)
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yonas woldu: Fix Housing First Plan Reaches Out to Troubled Homeowners - 02/19/09 07:07 AM
Acting on the one thing anyone agrees on about fixing our economy - "Fix housing first" - President Barack Obama just revealed his new $75 million housing relief plan. The funds, coming from the taxpayer funded-financial rescue package, will be supplemented by a $200 billion government commitment to stabilize Fannie Mae … (2 comments)
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yonas woldu: Now That's What I'm Talking About: New Housing Plans Emerge - 02/11/09 10:27 AM
Our current administration came to power on a mandate of change. When the House passed a version of the economic stimulus package, critics were quick to condemn the bill as "more of the same" even though the bill was not strictly of the President's making, was delivered less than 10 days … (0 comments)
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yonas woldu: Rethinking Needed on Loan Modification - 01/28/09 05:51 PM
Fixing the housing problem in Las Vegas and elsewhere throughout the nation is high on the growing list of priorities for new President Barrack Obama. Recent piecemeal attempts by banks and the government to modify loans or delay foreclosure for specific groups of homeowners have not uncovered a way that will … (26 comments)
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yonas woldu: Homeowners Need Some Real Hope - 01/22/09 05:18 PM
On January 20, Barack Obama was inaugurated as the 44th President of the United States. Equipped with a "yes, we can" attitude the new President, working with Congress, has a massive job to do to direct the economy out of the housing slump. He has pledged up to $100 billion in … (0 comments)
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yonas woldu: Help for Underwater Mortgages - 12/08/08 06:45 AM
While many mortgage holders are finally being offered relief to prevent foreclosure, two groups of borrowers are often left out. Those who can pay (even with difficulty) get little sympathy, as well as little thanks for doing what they agreed to do when they signed the loan. The other group, those … (0 comments)
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yonas woldu: Trash or Cash - 12/05/08 05:08 AM
The pride that people feel when they move into a new home is often nowhere in sight when their circumstances change and the bank forecloses on the home. In fact, banks who try to reclaim foreclosed homes often find them vandalized by the former owners, so consumed with anger and frustration … (0 comments)
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yonas woldu: Loans for Less Than Perfect Credit - 12/03/08 06:41 AM
Now might be a great time to buy a home. With housing prices falling in most areas of the country and with the 10 months inventory of available homes continually supplemented with foreclosed and bank-owned homes, a would-be home owner with a steady job, sufficient income to pay the payments, and … (3 comments)
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yonas woldu: Big Paydays for CEOs - 12/01/08 05:01 PM
Amidst bailouts to AIG, WAMU, and other corporate entities, there is always the fear that executives will be richly compensated as workers, stockholders, and now taxpayers foot the bill. As GM and other automakers hover on the brink of bankruptcy, one concern in any bailout talk is that executives who made … (6 comments)
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yonas woldu: Thank you, Fannie Mae and Freddie Mac - 11/26/08 07:07 AM
Tomorrow is Thanksgiving; Christmas is next month. This year, Fannie Mae and Freddie Mac are distributing their gifts early and giving 16,000 homeowners something extra to be thankful for. Both mortgage agents are suspending foreclosures and evictions until after the New Year.
At that point, the agencies will begin to offer … (2 comments)
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yonas woldu: What's Good for General Motors MAY NOT BE Good for America - 11/24/08 07:23 AM
The Big Three Automakers are failing. In this bailout era, leaders have been to Washington begging for $25 billion to tide them over. With millions of jobs at stake and a devastating ripple effect anticipated throughout the economy if they don't get help, commentators of all political persuasions are questioning whether … (1 comments)
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yonas woldu: New Hope for Nevada Homeowners - 11/21/08 06:01 AM
With large numbers of Nevada residents overwhelmed by the threat of foreclosure, the State of Nevada recently established a foreclosure website and call center to field concerns about the process and help people reclaim their lives.
The website http://foreclosurehelp.nv.gov/ is a helpful potpourri of information about steps to take to prevent … (0 comments)
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yonas woldu: Casinos Roll Dice on New Luxuries as Job Cuts Mount - 11/19/08 04:53 AM
These are not be the best of times even for Las Vegas resort and casino owners, as high gas and airfare prices and an economy that offers less discretionary income keep patrons away. Earrings for Harrahs, MGM's Mirage , and other casinos are down 20% this year. As a result, job losses … (2 comments)
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yonas woldu: Current Nevada Realities - 11/17/08 06:20 AM
For the 22nd straight month, Nevada was at the top of the foreclosure hit parade, as 1 in 54 households received a notice in October, 2008 and foreclosure filing rose 11% compared to September. Las Vegas was the worst metropolitan area as 1 of 62 houses received a notice and 6% … (1 comments)
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yonas woldu: Credit Unions Offer Real Hope for Homeowners - 11/14/08 07:04 AM
As the mortgage market readjusts to new economic realities, an oft-forgotten source of a loan might be your local credit union. While mortgage loans originations fell 17% at banks in 2008, they are up 10.1% at credit unions.
Credit unions, which offer a variety of loan products including conventional mortgages, ARMS, … (1 comments)
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yonas woldu: $7,500 Tax Credit - An Interest-Free Loan in Disguise - 11/11/08 11:40 PM
A sagging housing market was been given an expected boost by recent legislation in July, 2008 that offers first time home owners a $7,500 tax credit with the purchase of single family home, townhome, or condo. Homes purchased by U.S. citizens between April 8, 2008 - July 1, 2009 qualify to … (2 comments)
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yonas woldu: Economy Challenges the Audacity of Hope - 11/10/08 02:39 PM
As President-elect Barack Obama - and the 52% of the electorate who supported him -savor his historic, landslide victory, he is already caught up in the immensity of our economic problems. He cautioned, even before meeting with economic advisors, that the task ahead was too immense to complete in one term. … (1 comments)
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