Archive for September, 2008

As Election Day nears, more and more Maryland voters are getting worried about not being able to exercise their right to vote because of foreclosure. In an effort to address this particular concern, the state's Attorney General has instructed all state and local election officials to let voters know that even if they have lost their homes to foreclosure, they have not lost the right to participate in the upcoming election.

As the number of homes that enter foreclosure increase nationwide, so is the number of tenants left without homes. The sad thing about this situation is that many of these renters are not aware of what has been happening until they were given notices to move out.

For homeowners who have been diligent in their mortgage payments and even their association bills, the foreclosure crisis may not be something you will be interested in. Sadly, the problems in the mortgage industry have no longer made these homeowners immune to the adverse effects.

In California, distressed homeowners will be able to have a fighting chance against foreclosure ever since the passing of the new state legislation Senate Bill 1137. The said law requires the mortgage lender or servicer to contact the troubled homeowners in order to discuss their mortgage problems. The attempt to communicate will then be recorded and attached to the Default Notice.

Since Florida is among the states hit hardest by the foreclosure crisis, it can be expected that many housing advocacy groups would like to provide assistance to the thousands of troubled homeowners. One such assistance is provided in the form of a foreclosure prevention workshop scheduled at the New Covenant Baptist Church, located in Orlando.

If you are interested in buying a home but worried about being able to afford it, follow what the other budget-conscious real estate investors and home buyers are doing - participating in Michigan foreclosure auctions.

According to reports released by RealtyTrac, there was still a considerable number of foreclosure filings recorded for the month of August compared to the same period last year. Despite this, the growth rate is considerably slower than in the previous months. This is certainly good news especially for states hardest hit by the foreclosure crisis, for it could be a sign that the foreclosure problem has hit rock bottom.

In most cities, you will find the same scene - declining home prices in neighborhoods as a result of the many bank foreclosure properties. For many homeowners, it is only logical for the taxes on their homes to be reduced considering the falling property values. Unfortunately, local assessor's offices do not consider this a valid reason.

According to ABCNews, there seem to be a growing number of homeowners who are purchasing cheaper second homes and simply walking out of their first homes because they could no longer afford their mortgage payments.

Many distressed homeowners in Illinois should welcome the news that foreclosure help is available for those who are seeking it. In an effort to curb the rising tide of foreclosure in the state, a series of foreclosure workshops will be conducted in 38 cities nationwide including St Louis on September 13.

Last month, news that Ed McMahon is facing foreclosure shocked the entire nation and showed how deep the foreclosure crisis really is.

Investing in a foreclosure property is currently the rave right now as more and more buyers discover its greater return potential. Among the things you will come across in this field is the sale-leaseback option. Although the idea behind this scheme sounds good, you must first understand it in its entirety if you do not want to be mistaken as a predatory buyer.

If you read newspapers and watch news, you are quite aware that the nation is struggling with a foreclosure crisis. According to the Mortgage Bankers Association, there are approximately 250,000 foreclosure filings every quarter. Although you have been fortunate enough to have avoided being in the shoes of over 3 million homeowners, this does not mean that you are in the clear. Unexpected circumstances like an illness or job loss can put you at risk.

One of the options that distressed homeowners explore in order to avoid foreclosure is to sell their home. But sadly, this option is quite challenging since looking for a buyer in this tight housing market is next to impossible