Articles about General
Peter Zalewski is a busy man handling lots of properties. In South Florida he has for sale 110,000 houses of which 55,000 are foreclosed and 19,000 owned by the banks. 68% of the units are in the distressed category. Somebody has to do the cleaning up and here is where Peter’s firm, Condo Vulture Realty, [...]
It was while the top fiscal regulators were discussing over the ways and means to be employed to stabilize City Group, FDIC’s Chairperson, S.C. Bair, expressed her concern about steps to mitigate foreclosure-triggered crisis. Her support to the City Group was absolutely certain provided the bank aided and supported her in return. Her cause was [...]
Nearly half of the loans that had been modified during the first half of 2008 have again started to default, according to a federal regulator. This poses a question about the quality of these loan modifications. About 53% of those who had their loans modified during the first quarter of 2008 and 51% of those [...]
Lenders are now sitting up to the fact that overeating leads to indigestion. Overwhelmed with a surfeit of white elephants – the vacant foreclosed houses, they are now being more realistic and proactive in avoiding foreclosures. The government measures have also motivated them to be more borrower friendly. Rosemarie Cino had odd jobs to do [...]
Foreclosures have devastated house owners together with entire neighbourhoods. Now it is time for the tax department to feel the hard pinch. The treasury offices across the country are getting ready for the river of taxes to run dry. Innumerable houses in Cleveland have been damaged by vandalism, fires and the weather to a point [...]
The story of one family is the same as that of thousands of others across the country. The Greenes tired of being tenants grew confident that their joint income would enable them to become house owners by paying $1,000 per month towards mortgage. But their hopes turned to dust when spiralling living costs combined with [...]
Mortgage disclosures keep many clauses carefully confused. This is the opinion of Federal Trade commission’s Bureau of Economics. With changes here and there borrowers could get a much better deal. A serious study was made of 800 mortgages covering 12 areas across the country. Half were given current mortgage disclosure forms and half given other [...]
Mortgage defaulters who are facing foreclosures are waiting for help from Washington. The authorities however have taken a wait and watch stand to the fallout resulting in years of lending practice without being backed by sufficient credibility. The market is showing signs of self-recovery and the overall economy seems to remain untouched. At this point [...]
