One can hear the clink of the sword – it is expected to be brandished any moment. The Bush administration has come to an understanding with jumbo lenders and a freeze will be announced for five years. These are the lines of expectation. No details are as yet available. The reaction to the news in [...]

For any real estate related problem like foreclosure the FHA can be contacted for genuine help. It is a semi-private agency controlled by the government. The aims are to help those with slim purses to become owners of houses. FHA does not itself advance loans but it negotiates with lenders to make the loan taking [...]

In the Michigan real estate business the top option by many home buyers is to go in for Michigan foreclosed homes. This is based on sound reasoning that the Michigan foreclosure process is caused by many eventualities, namely bankruptcy, financial strain, death of house owner or shifting of residence to another place and the like, [...]

Michigan ranked 6th in the country with 15,565 foreclosure in some stage of foreclosure or the other. It showed an 11% rise above July figures and a 126% high jump from the month of August in the previous year. The numbers tagged to Michigan are inclusive of 3,534 units that went into delinquency, 6,572 that [...]

A disproportionate tax bill is a blow from an unexpected quarter for one who has failed to meet mortgage dues. Yet the bill accuses the person of having made an extra earning! This is unbelievable but true in Michigan and other parts of the country. Those who negotiate with the bank for some unusual refinancing [...]

According to a survey in 2006 Detroit recorded the highest high-cost mortgages in the previous year. A community activist organization, Acorn, has been studying in depth the fall out of mortgages. They have concluded that relatively more Afro-American and Hispanic borrowers have been victims of high-cost mortgage schemes in comparison to the whites. Thus more [...]

Record numbers of foreclosures have hit the headlines. Defaulting in more than two repayments allows the lender to file a legal notice. California, Florida, Nevada and Arizona top the list in foreclosures. Massive job cuts in Ohio, Michigan and Indiana have also led to the foreclosure crisis. Short selling has come out to be an [...]

Bankers are watching and waiting with uncertainty the snowballing effect of the sub-prime tsunami crisis. Even though April provided a breather by a dip of 1% in foreclosure listing, it was still up by 62% compared to last year. Even then it will be far above the average of last year. Statistics pouring in show [...]