The unregulated housing market ended up collapsing a couple years ago and this isn’t what the government-sponsored enterprises want to witness again, so they published new guidelines which took effect at the end of last month. These guidelines cover the work of appraisers and help the GSEs to build a massive database of every appraisal [...]
After listening to President Obama’s jobs plan leading analysts were disappointed by what he said, because they don’t saw any clear direction of the housing market. Moody’s Analytics Chief Economist Mark Zandi said “The president’s plan is large, but in some key respects it is not complete. Most notably, it does not directly address the [...]
A couple days ago the government – lacking of any ideas to solve the pressing issue – shocked the analysts with its proposal to sell pools of foreclosed homes to investors to rent. Federal agencies, including the Federal Housing Finance Agency (FHFA), HUD, and the Treasury Department recently issued a Request for Information and will [...]
Since the beginning of this year Bank of America stock fell more than 50% from $15 to $7.01 and now the nation’s largest bank faces the need of cutting costs and restructure. According to the memo, obtained by The New York Times, Brian T. Moynihan, the chief executive of the bank said the hopes to [...]
After president Obama asked for real estate professionals to think offer solutions for the distressed housing market Realogy Corp sent a letter to the president saying it is time to put real estate professionals who are on the front line each day fighting the housing crisis at the head of the table to craft a [...]
According to an announcement coming from Sen. Richard Blumenthal, the Senate Judiciary Committee will investigate charges of abuses by mortgage servicers, including improper loan mod agreements and shoddy foreclosure practices, which might have resulted in improper home foreclosures. The number of unjustified foreclosures has risen across the county as a result of outrageous homeowner fees [...]
Lender Processing Services, Inc (LPS) released its May Mortgage Monitor report showing that the number of loans that are three months or more delinquent combined with the foreclosure inventory at the end of May totaled 4,087,557. Foreclosure sales numbers contrast this fact: the stats show only 78,676 foreclosure sales at month end, so the volume [...]
The Congressional Budget Office or CBO estimated that two of the country’s biggest lenders, Freddie Mac and Fannie Mae will need another $42 billion from taxpayers to cover anticipated losses over the next decade if they live in their current form. Back in 2008 the two companies were seized by the government and received $154 [...]
Home loan servicing declined a shy 4% compared to last year: till the end of the first quarter of 2011 the nation’s mortgage companies serviced just a small about of $9.5 trillion in home loans. This drop means that foreclosures and cash-in refinancings are highly important in reducing the national residential debt. As the financial [...]
JP Morgan’s May home price monitor projects a peak-to-trough 34% decline for the Case-Schiller national index or another 4% decline from the previous quarter to a bottom by the middle of this year. Housing recovery is forecasted to come in 2012-2013 but it will be a modest and slow recovery. The excess supply of homes [...]
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
