June 3, 2007
NATIONWIDE
Three Quarters of home owners under Loan Modification Plan have Negative Equity
A latest report by government auditors has confessed that more than 75 percent of home owners, who went in for loan modifications and reduced monthly mortgage payments, owe more on their mortgage loan, than their homes are worth.
Citing February statistics, the report says over 50 percent of an estimated 170,000 distressed borrower-home owners are seriously “underwater” by having negative equity of at least 25 percent – meaning for every $1.00 of home value, they owe on mortgage $1.25. Read More..
“Underwater” Mortgages – How Many Would Walk Away? – Survey Results
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. Read More..
LENDERS & SERVICERS
The Five Star Institute Certification Summit
Fairmont Dallas – Dallas, Texas | June 3 – June 5 Click here to find out more
COMMERCIAL
Regulation by Illusion; the Psychology of Economics
The proposition made by some that regulation of the finance industry was already in place through banking regulators standards and SEC reporting standards has some credence due to its truth. However, when banking disclosure requirements are creatures of statute, it is yet a remote manner in which the Federal government has subsidized the capital costs for the numerous institutions that faced insolvency during 2008. Read More..
Commercial Foreclosure Postings Nearly Double in Tarrant County
In Texas the foreclosure activity in respect of commercial real estate foreclosures are mounting in certain pockets – notably Tarrant County and Dallas-Fort Worth Metroplex Area. Addison-based Foreclosure Listing Service Inc. released a report on 20th May wherein many interesting statistics have come to the fore. Read More..
MARKET UPDATE – NAPLES
Naples Housing Market is bright with figures in April 2010
In a year-over-year comparison with that of 2009, Naples, FL housing market shows all-round improvements in sale of condominiums, median home selling price, closed sales deals, but the number of condos available for sale declined. The statistics are as published by a local real estate site – adeltaralty.net. – classified under the heads as follows:.. Read More
Collier County Foreclosure Task Force – some details you can use
Florida is reeling under the clutches of foreclosure crisis for quite some years now. Eventually people living in various counties of Florida, including Collier County consisting major cities of Naples-Marco Island Metroplex are craving for help and advice, towards foreclosure avoidance.
The federal government on its part is promulgating foreclosure mitigation programs like The Home Affordable Mortgage Program, to help the people overcome the crisis. It is a moot point how far these programs have been successful and are able to cross the stone-wall tactics adopted by major mortgage lending banks of America. Read More..
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