Statistics in the US housing sector indicate recovery from the worst crisis. New house starts showed a decline of 4% (seasonally adjusted for the months) in December – 557,000 compared to 580,000 in November.
For the whole of 2009 the number of homes started was an estimated 554,000 which is 39% down [...]
There are signs of recovery in the economy but trends show that demographics together with consumer activities have become the force behind new housing activities. Consequently the emerging residential market is totally different from the one that was there previous to the recession.
During the Midwinter Meeting of the Urban Land Institute the issues that were [...]
Contrary to common belief, when a home owner forfeits the property to foreclosure auction through the Courts, there ends the matter and they do no more owe anything to the lenders, here is the startling fact.
There are a lot of instances where the barrowers are kept on the hook for years and lenders pursuing the [...]
Responding to heavy pressure from Washington the loan servicers are now expediting the process of permanent loan modification. By the end of last December the number had increased to 66,465 – it being 7.4% of all the trial modifications. In November the number had been 31,382. Another lot of 46,056 are waiting the final inking [...]
As against 140 failures in 2009, 2010 is expected to experience 200 bank collapses. It will make a record. Already the cost suffered by FDIC is ten times more than the S&L crisis of the 80’s.
Testifying before the Financial Crisis Inquiry Commission, the chairperson of FDIC Bair blamed the Federal Reserve, then under Greenspan, for [...]
House prices across the nation fell by 32% from the heights it had reached in the 2nd quarter of 2006 in the 1st quarter of 2009. It bounced back by 6.3% as per the ratings of Standard & Poor’s (S&P) Case-Shiller index for residential houses yearly report.
The Chief Economist of S&P David Wyss that [...]
We want to say thanks to Eureka for making our short sale possible
Roger and Lisa Pringle
Austin, Texas
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
