All the indications are there of the worsening of economic gloom as foreclosures continue to increase unabated. The crisis gripping Fannie Mae and Freddie Mac, the two pillars of the mortgage industry, spells disaster. It means that getting a loan to buy a house is going to be more difficult than what it already is. [...]

Although clouds of foreclosure continue to gather many see a silver lining peeping behind it in Florida. It is impacting however on the real estate market causing prices to slump. This trend will continue throughout this year and perhaps spill on to 2009. According to RealtyTrac 40,351 residential units in Florida were foreclosed in June [...]

The forthcoming presidential elections will have no effect on the present crisis – foreclosures will gallop along indifferent to the results of the elections in November. Presidents do not have the power to wave a magic remedial wand. Despite this Democrat Obama and Republican McCain continue to make loud noises and promises about tackling the [...]

Foreclosures are opening up new opportunities but it is not without risks. The market is flooded with 700,000 bank-repossessed houses and about another one million is in foreclosure. This is just the time for many to be tempted to dabble in distressed units. Like every other kind of business it requires special skills and experience. [...]

Foreclosure rescue companies are duping victims with teasing signboards promising purchase of house with cash or refinancing the loan with the bonus of a 7 day vacation! They take a fee ranging from $1,000 to $2,500 promising the sky. The line of approach is the same everywhere with variations from one case to another. The [...]

Most of the jumbo lenders have agreed to stipulate certain common guidelines to mitigate problems of foreclosure. The aim will be to highlight options and alternatives before proceeding with the same. The plan however is voluntary without legal bindings. It was released by the Hope Now alliance – a federally baked group of lenders and [...]

Foreclosures in Florida continue to zoom higher and higher. The only good news is that Arizona has overtaken Florida in foreclosure numbers. Today the Sunshine State ranks 4th in the national foreclosure race according to RealtyTrac. Florida had 35,264 foreclosure postings in April 2008. This was an increase of 16.6% from March 2008 and 146% [...]

Adamaitis of Direct Mortgage Services said that in the long run persistence and perseverance pays when trying to avoid foreclosure. Adamaitis has most of his dealings in foreclosure-riddled Florida. Of all the innumerable cases he handled a particular one has remained etched in his memory. One day a woman from Manchester contacted him saying that [...]