foreclosures: "Head in the Sand" Poor Foreclosure Defense
- 03/25/09 05:38 AM
In some markets more than 1 out of 10 homeowners are dealing with a pending foreclosure. The most common initial reaction is to avoid the lender and bury one's head like an ostrich hoping to avoid danger. It is impossible to hide from mortgage obligations without dire consequences but a proactive strategy can produce positive results. The first step is to stare the problem right in the face. You've got to deal honestly with the questions at hand. For instance: Could you afford to stay if the payment was lower? Are you expecting that you can catch up on … (0 comments)
foreclosures: Where Are the Real Estate Vultures Feeding?
- 01/16/09 01:35 AM
Where are the Real Estate Vultures Feeding? Newest figures show that buyer's are coming back into the real estate market drawn by huge price reductions. 2 years ago there was a critical shortage of affordable housing and now it's turned into a stellar buyer's market. It's also estimated that as much as 40% of the homes sold are short sales, meaning the house is being sold for less than the amount of the seller's mortgage balance. When successful, a short sale transaction is a big WIN-WIN-WIN situation. Sellers are getting out from under their unmanageable … (0 comments)
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