Foreclosure crisis hits older americans hard. More than 1.5 million older Americans already have lost their homes, with millions more at risk as the national housing crisis takes its toll on those who are among the worst positioned to weather the storm, a new AARP report says. Read full post here.
U.S. foreclosure starts rose year-over-year in June for the second consecutive month, as banks continued to clear their backlog of inventory after a nationwide mortgage abuse settlement. Read full post here.
Chicago rap veteran Common could possibly lose his Windy City crib to foreclosure with reports claiming he allegedly owes mortgage payments to Bank of America.Although Common has yet to address the gossip, reports claim he stopped making payments last spring. Read full post here.
Banks are increasingly placing homes with unpaid mortgages on a countdown that could deliver a swell of new foreclosed properties to the housing market by early next year, potentially weighing further on home values.Read full post here.
We have gathered the latest Real Estate Market and Housing news,to keep us updated in what’s happening with our neighborhood.
Millions of older americans at risk of foreclosure.A growing number of older Americans are falling into serious mortgage debt, with 3.5 million borrowers over the age of 50 at risk of losing their homes to foreclosure, according to the AARP. Read full post here.
America’s Emptiest Cities: It’s no secret that the U.S. housing market has seen better days. From falling home values and impaired labor mobility to backed-up inventories and a flood of foreclosures, the real-estate downturn has affected the economy at large in countless ways. Read full post.
When a company or individual files for bankruptcy, they are in a state of insolvency: Unable to pay their debts, they require legal protection to relieve or restructure outstanding obligations. Although it’s much more common for these private parties to declare bankruptcy, U.S. public entities such as towns, counties and other municipal agencies in financial straits can also file for bankruptcy protection under Chapter 9. Read full post.
Find out the TOP 10 causes of American housing crash. Read full post.
US Federal Reserve extends stimulus to weak economy. The Federal Reserve on Wednesday extended its monetary stimulus to a U.S. economic recovery that looks at risk of stalling, renewing its effort to depress borrowing costs by selling short-term bonds to buy longer-dated ones. Read full post here.
Crisis has thrown back US families 20 years by Patrick Martin. The financial crisis of the past four years has thrown American families back two decades, according to figures provided by the Federal Reserve Board in its triennial Survey of Consumer Finances. Read full post here.
Fixed Mortgage Rates Fall To New Record Lows. Fixed U.S. mortgage rates fell again to new record lows, providing prospective buyers with more incentive to brave a modestly recovering housing market. Read full post here.
This married couple just got a new home fast and easy. These are one of the people that we have as a qualified tenant buyer.
Are you worried about having your house foreclosed? Are you worried about your credit being ruined? Do you think you have no other option?
I am interested in buying your house using a special program that allows anyone to sell — even if you have little or no equity. This program is not a short sale. It does not require bank approval, and a homeowner’s credit is not harmed though the sale of a property utilizing this new program.
Also, there are no Realtor fees to pay. We areprepared to buy your house “as-is” condition and will pay you all cash. I can be flexible on the closing date and I will even pay ALL the closing costs for you. If your house needs some repairs,that’s OK. Many of the houses I buy are in need of some repairs.
We can close whenever you are ready.Please call the number above now so I can make my offer to you.
We have gathered some articles that caught our attention. These article discuss the current housing market.
Housing crisis to limit home ownership by Sarah Nevill. She writes that young people are forced to live with their parents until well into their 30s. Read full article here.
With the current economy, would life be better for the next generation? Eric Pianin writes How the housing Crisis shafted the next generation
Cleaning Up Foreclosed Homes After the Mortgage Crisis by Paul Knight. Junk haulers expand their business in the wake of evictees leaving behind houses in terrible condition. Thinking of getting a new job? This might be a good deal. Read full article here.
Houston: Zoned out of the housing crisis? Does Houston need zoning? That’s become an increasingly contentious debate in this, the largest U.S. city without it. Read full article by Loren Steffy.
Creative owner financed transactions are an excellent alternative method of purchasing or selling a home in today’s mortgage and real estate marketplace. If you are in a position where you are unable to sell your home regardless of the reason, or if you are unable to qualify for a mortgage loan or simply don’t have the large down payment and or closing costs required, you may wish to consider on e of our owner financing options. Listed below are what we perceive to be the Benefits and Risk of buying or selling a home using unconventional methods.
- Reduced marketing time
- Good exit strategy regardless of personal or property circumstance
- Minimum or no closing costs
- Stops potential foreclosure since the property is sold and payments are maintained
- Subject to Buyer pay history may improved credit rating
- Quick closings (sometimes in a manner of weeks)
- Violation of Due on Sale clause
- Seller not released from loan liability until the loan is paid off
- Subject to Buyer pay history could impair credit rating
- Even though the property is sold, a portion (25%) of the monthly mortgage payment must be shown as a liability and can affect debt to income ratio calculations when making major purchases