Foreclosures Bring Down the Value of Neighbouring Houses

Monday, October 6th, 2008

Foreclosures are bringing down the value of neighbouring houses that are not in foreclosure. Banks desperate to offload the rising number of repossessed houses are offering absurd discounts that are having a negative effect on the value of houses in the adjoining area. The related law and order problem is also [...]

Popularity: 23% [?]

Posted in Foreclosure | 2 Comments »

Foreclosure Climate Puts California Lender In A Tight Spot

Friday, September 26th, 2008

It is not always the borrower who suffers. This is the story of how sub-prime loans as a spin off from the foreclosure climate, puts a lender in California in a tight spot.
Maurice McAlister founded Downey Financial Corporation that dealt with loans and savings. Today it has been humbled and wrecked by the foreclosure crisis. [...]

Popularity: 29% [?]

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Walking Away From Foreclosures

Wednesday, September 17th, 2008

For those Americans who can no longer afford increased mortgage payments there has come up a new set of services by which one can walk away from foreclosures – but at a price.
The Dow Jones has dropped by more than 300 points last Friday and the economy is now really shaky. This has made Americans [...]

Popularity: 24% [?]

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Foreclosure Auction In Inland Empire Includes Furniture And Tools

Tuesday, September 16th, 2008

Desperate times call for desperate measures. In auctions held in Inland Empire apart from houses the items include furniture, tools, appliances and other miscellaneous items. This is the picture in San Bernardino. For some it brings tears but for others it is an opportunity.
An auction house is replete with household [...]

Popularity: 29% [?]

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The Market Is Flooded With Rickety Houses

Tuesday, September 2nd, 2008

Everybody knows that increasing number of foreclosed houses feeding the real estate market is matched by diminishing purchase power of potential buyers. This has led to a fall in real estate market. There is another point that has overlooked many – the market is pock marked with rickety and lousy houses.
This news has not caught [...]

Popularity: 9% [?]

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The Individual Face of Foreclosures

Monday, September 1st, 2008

A string of facts and figures is not able to move feelings and anger as much as the individual face of foreclosures.
One of the tragic foreclosure victims is Ericela Bolin. Her grandfather had constructed the house in Imperial Valley close to Mexico’s border in California. In 1989 following his death the family planned to sell [...]

Popularity: 9% [?]

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Countrywide Being Sued By West Virginia State For Foreclosure Troubles

Wednesday, August 20th, 2008

Countrywide Financial is being sued by the Attorney General of West Virginia, for lapses in foreclosure proceedings. Countrywide is being charged for granting risky and other faulty loans to borrowers who were not qualified for loans. Similar charges have been brought by other state governments against Countrywide.

The law suit by the Attorney General of West [...]

Popularity: 17% [?]

Posted in Foreclosure | 1 Comment »

California Realtors Hard Hit By Foreclosures

Friday, August 15th, 2008

The California realtors are one of the worst hit by foreclosures. The value of houses has fallen by 43% in Victorville. Previously the city had rebounded back from similar slumps. But will it this time?

Jackie Harvey is one of the many realtors twiddling her toes waiting for customers. Till 4 pm nobody had knocked on [...]

Popularity: 18% [?]

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Foreclosures and the Hedge Market

Thursday, August 7th, 2008

The latest crisis has shown that foreclosures and the hedge market go hand in hand. It is apparently friendly local hedge fund that has pocketed the mortgages of the area. There are dozens and dozen of hedge funds, private equity bodies and many other types of investors who have forayed into the melting mortgage market [...]

Popularity: 18% [?]

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No Speed Breakers in the Second Quarter Foreclosure Activity

Wednesday, August 6th, 2008

With no speed breakers in the second quarter, US foreclosure activities recorded a rise of 14% in the second quarter of 2008 and a soaring high of 121% from the same period of 2007 with foreclosure filings mounting to 739,714 US properties during the months of April to June 2008 according to RealtyTrac information. It [...]

Popularity: 14% [?]

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