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 [...]
The problems faced by U.S. Real estate market is unquestionably due to growing unemployment. If you see right from the beginning, the difficulties U.S. economy faced somewhere from the start of 2006 were cyclic in effect – ballooning of adjustable rate mortgages; repayment installment going beyond the family budget; defaults; delinquencies; foreclosures; stoppage of inflow [...]
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 [...]
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 [...]
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 [...]
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; [...]
Tax deduction on mortgage interest paid by home buyers, coming under high-end property market segment are happily enjoyed by hundreds of thousands of Americans. The homebuilding and real estate industry circles say the deduction is an important part of promoting homeownership. Yet financial experts have long questioned the link between homeownership and tax subsidies provided [...]
Tax payers enjoy the benefit of tax deduction on the interest they pay on mortgage loans. The tax policies of government help reduce the cost of a home while buying, and millions of tax payers – especially those buying homes from the high-end property segment – are happily making use of this benefit, although it [...]
The latest Move.Inc Homeowners survey has brought out many interesting facts to the fore. According to this random online survey, the present state of US economy has forced some homeowners to make serious sacrifices or changes to their lifestyle, since they wait for conditions to improve optimistically. Over two thirds of people surveyed – 69.1% [...]
The federal government has come up with one more program, in the series following Home Affordable Modification Program (HAMP) to alleviate the grievances of those – who have experienced a job loss; are behind on mortgage payments or soon will be. This is a supplemental program to HAMP took effect from April 5, 2010, which [...]
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
