Arising out of the foreclosure crisis, there is a new phenomenon causing concerns all around and putting the US government under pressure – Home owners just walking away from their homes, leaving the premises have a ghostly look deserted. This happens in all parts of the country, especially where the foreclosure crisis has hit hard. [...]
NATIONWIDE A Synopsis of the Foreclosure Scenario as in April 2010 As of March this year, nearly 7.4 million mortgage borrowers, representing 12 percent of US households with a mortgage were stated to have missed at least one month of payment or in foreclosure already – according to Lender Processing Services Inc. The statistics [...]
The worst is not over yet, but there are signs of foreclosure problem receding – this is how one can surmise the foreclosure activity report for the month of April 2010 released by Realtytrac. In the coming years, millions of American families are likely to lose their homes, once their mortgages adjust. The backlog is [...]
Experts attribute the unemployment problem as the basis for the deepening of foreclosure crisis for the last few years. No question – the down-turn of US economy is the root-cause for the housing bubble, to start at first through the ballooning effect of interest rates on mortgages. But the recovery from it has not become [...]
NATIONWIDE Foreclosure Activity Has Begun To Plateau – April Report Kind of encouraging news is delivered by the latest Foreclosure Activity Report just released by Realtytrac. It is a welcome change no doubt, for those millions of distressed home owners, keeping their fingers crossed, after listing their properties in the sluggish market for sale. [...]
Kind of encouraging news is delivered by the latest Foreclosure Activity Report just released by Realtytrac. It is a welcome change no doubt, for those millions of distressed home owners, keeping their fingers crossed, after listing their properties in the sluggish market for sale. The pressure from the foreclosure properties competing for sale, at throw [...]
Fitch Rating, a prestigious research firm of mortgages, in their latest report, indicate that for the first time in the last four years, there is a decline in delinquencies of high-risk residential mortgages, classified as “Alt-A” loans. It can be illustrated that “Alt-A” mortgages are ones, where the borrower’s financial ability to repay the debt [...]
NATIONWIDE First Quarter Reports Fannie Mae Foreclosure Figure Almost Double The financial loss of Fannie Mae, as reported in the first 3 months of 2010 was $11.5 billion and the GSE has requested an aid of $8.4 billion of the tax-payers’ money from the Treasury Department. As regards foreclosure volume, from 62,000 properties in [...]
The Federal National Mortgage Association (FNMA), popularly known as Fannie Mae, is a Government Sponsored Enterprise (GSE) and its main business is to purchase and securitize mortgages in real estate, with a view to make available funds to lending institutions for financing home buyers in US, particularly in low and medium income group. Fannie Mae [...]
Once the most financially viable States of the US, what with Las Vegas exchanging millions of dollars every day in the entertainment sector, Nevada continues to be leading the Top Ten States worst-hit by the foreclosure fiasco. The latest foreclosure report pertaining to the first Quarter ended March 2010 shows that the worst is not [...]
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
