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July foreclosure filings increase overall in the country

After a pattern of slowing down by reduced foreclosure filings in the last few months, there was a sudden jump in foreclosure activity across the country, if the latest report is any indication. Compared to June, the month of July saw a 4 percent increase in foreclosure activity, whereby 325,229 U.S. properties fell into any [...]

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To flip or not to flip? That is the question in the present economy.

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 about a home owner ardently searching for a home for their family to reside, although they too stand [...]

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Foreclosures dent home values in the neighborhood – MIT Study

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 [...]

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Foreclosure filings decline consecutively – Market Report

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 stood at 1,961,894. In essence – one in 78 housing units received foreclosure filings during this period. The [...]

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Construction of new homes continue falling nationally

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 new home building had to take a back seat for want of buyers. The downward economy saw to [...]

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What the research studies reveal about Strategic Default?

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, on their own accord. These defaults are known as “Strategic Defaults” and are causing concern to the mortgage [...]

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U.S. homes repossessed by banks set to hit record 1 million this year

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 [...]

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“Strategic Default” – How big this problem is?

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, for assorted reasons such as – job loss; ballooning effect of repayment installments going beyond their monthly budget; [...]

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What is the position of “Principal reductions” under HAMP?

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 [...]

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How healthy is Realtors’ business? A see-through of NAR Member Profile 2010

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 [...]

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