It is reported in the media that the federal government is contemplating a new bailout plan by name “Restoring American Financial Stability Act of 2010”. Experts are of the opinion that the intended new rules imposed on mortgage lenders, would only add up the indirect cost of mortgages – already having higher pricing – entered [...]
It is common knowledge if a nearby house of yours falls into foreclosure tragedy; invariably it reduces the market value of your home as well, from the home buyer’s point of view. More so, if your neighborhood is one of those hard-hit by many foreclosure properties, the drop down of value for all housing properties [...]
According to financial experts, the economic recovery depends to a large extent on the growth of employment opportunities in all segments. For the simple reason of more money in the hands of people, the spending will increase, bringing every sector including real estate into life. The national unemployment rate and figures of claims on unemployment [...]
The amount of residences in America recaptured by banks, stroke a record high in the second quarter of the present year by putting the quantity of foreclosures on track to strike a record one million by the end of 2010. The reclamation of the banks enlarged 5 percent since the preceding quarter of 2009 and [...]
There were criticisms on the progress of HAMP – Home Affordable Modification Program – devised to lower the monthly payments of troubled borrower-home owners, primarily through interest rate cuts. Both the bailout watchdog committee and Democrats in Congress sustained their criticism and finally The Treasury Department outlined a plan in April that calls for principal [...]
The 2010 National Association of Realtors Member Profile was based on a survey of 58,022 members, which generated 6,830 usable responses. Here are some excerpts: On a survey to assess the business activities of Realtors in US, it is found that 22 percent of respondents also offer commercial brokerage; 21 percent are in relocation; 18 [...]
A recent report issued by New York-based Fitch Ratings, a credit-rating agency, shows that the majority of homeowners that have gone through the loan modification process using the modification program offered by the Obama administration will end up going back into default within 1 year. According to the report, up to 75 percent of loan [...]
Real Estate is the playing ground for investors for profits – more than any field. And it is not a secret that U.S. real estate is reeling under the pressure of depression. We are not talking here...
The problems faced by U.S. Real estate market is unquestionably due to growing unemployment. If you see right from the beginning, the difficulties U.S. economy faced somewhere from the start of 2006 were cyclic in effect –...
The half-yearly Foreclosure Report – released by Realtytrac – says there is a decline of foreclosure filings for the sixteenth straight month in the country. During the first six months of 2010, the total foreclosure filings number...
It the direct aftermath of foreclosure crisis is hitting the housing markets, by flooding of foreclosure properties, the side-effect is bringing the construction industry to a grinding halt. When there are huge inventory of unsold homes, inevitably...
When the foreclosure problem is thickening by delinquencies of financially down home owners, there is also another phenomenon springing up recently. Those borrower-home owners, who can well-afford to pay the mortgage payments are refraining from doing so,...
First of all what is a Strategic Default? Defaulting in repayment of mortgage loan installments is widely occurring in the US, basically for financial reasons of inability. Millions of home owners find themselves in this precarious position,...
Tax deduction on mortgage interest paid by home buyers, coming under high-end property market segment are happily enjoyed by hundreds of thousands of Americans. The homebuilding and real estate industry circles say the deduction is an important...
Tax payers enjoy the benefit of tax deduction on the interest they pay on mortgage loans. The tax policies of government help reduce the cost of a home while buying, and millions of tax payers – especially...
The latest Move.Inc Homeowners survey has brought out many interesting facts to the fore. According to this random online survey, the present state of US economy has forced some homeowners to make serious sacrifices or changes to...
The federal government has come up with one more program, in the series following Home Affordable Modification Program (HAMP) to alleviate the grievances of those – who have experienced a job loss; are behind on mortgage payments...
I had two properties with no renters, and both were “under water”. I had resolved myself to letting them go into foreclosure. This would have crushed my credit and I was unsettled about it to say the least.
I had a credit score of 770 and was in danger of loosing the good credit my wife and I had worked so hard to get. I decided to give Eureka a try and I am very glad I did. I just closed one loan and the other is in the process of negotiations and should close very soon.
As soon as I had this service on my side, I was able to point the creditors to them for any questions. Once the creditors had this information on file, their calls slowed to a crawl, almost overnight. I have not heard from any of the creditors from either property for a long time. I felt like I finally had someone on my side. For the first time in months, I was able to sleep without worrying about what the future held in store.
If you are in a situation where you need to sell your property and get out from under that debt, Eureka is your answer. I do not need to wish you “good luck” as Eureka will do everything they can to make your problems a thing of the past. The sooner you act, the better things will be. Give them all the information they ask for and let them take over. You’ll be glad you did.
Alan Moses
Germantown, MD
