NATIONWIDE HAMP suffers stiff resistance from US Banks When the Home Affordable Mortgage Program was announced last year and after studying the features of the foreclosure mitigation plans of the Obama administration, experts voiced their concern that the program would at best slow down the foreclosure activity and would not bring forth avoidance of [...]
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, [...]
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 [...]
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. [...]
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 [...]
NATIONWIDE Is it a Great Housing Recession or Great Housing Bust? Economists worldwide are of the unanimous opinion that the current financial crisis and global downturn economy has been triggered by the housing bubble in the US. It is also common knowledge that the housing market in US, as seen by financial experts and [...]
NATIONWIDE Mitigation plans of Government to ease foreclosures achieved too little and too late! The Congressional Oversight Panel has come out in the open to describe President Obama’s foreclosure mitigation programs to ease foreclosures achieved “too little, too late”. The “Top COP” – Elizabeth Warren has mentioned this, after a year and half of [...]
The beginning of 2010 seems to hold some good news for long suffering homeowners across the US. Statistics released by Bank Foreclosure Sale indicate that the rate of new foreclosure listings has shown a notable decrease in January. Is it possible that short sales and foreclosure figures in the residential market may be stabilizing. The [...]
The Home Affordable Modification Program (HAMP) has come under fire recently for what observers call its "total failure" to attain its goals. Federal Deposit Insurance Corporation (FDIC) chairman Sheila Bair begs to differ though. She has gone as far as to call the program the "most ambitious mortgage modification effort ever undertaken". In the face [...]
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
