Two Senators delivered statements in Washington while responding to Sun-Star series. Senator Dianne Feinstein (Democrat/California) said that together with her staff she was laboring continuously to give as much of help as feasible to residents of California who are under threat from foreclosures. She claims to have connected the victims with counseling agencies and also [...]
Statistics in the US housing sector indicate recovery from the worst crisis. New house starts showed a decline of 4% (seasonally adjusted for the months) in December – 557,000 compared to 580,000 in November. For the whole of 2009 the number of homes started was an estimated 554,000 which is 39% down from 2008 showing [...]
There are signs of recovery in the economy but trends show that demographics together with consumer activities have become the force behind new housing activities. Consequently the emerging residential market is totally different from the one that was there previous to the recession. During the Midwinter Meeting of the Urban Land Institute the issues that [...]
Contrary to common belief, when a home owner forfeits the property to foreclosure auction through the Courts, there ends the matter and they do no more owe anything to the lenders, here is the startling fact. There are a lot of instances where the barrowers are kept on the hook for years and lenders pursuing [...]
Responding to heavy pressure from Washington the loan servicers are now expediting the process of permanent loan modification. By the end of last December the number had increased to 66,465 – it being 7.4% of all the trial modifications. In November the number had been 31,382. Another lot of 46,056 are waiting the final inking [...]
As against 140 failures in 2009, 2010 is expected to experience 200 bank collapses. It will make a record. Already the cost suffered by FDIC is ten times more than the S&L crisis of the 80’s. Testifying before the Financial Crisis Inquiry Commission, the chairperson of FDIC Bair blamed the Federal Reserve, then under Greenspan, [...]
Neel Kashkari, the architect of TARP, the $700 billion foreclosure relief program, disclosed the backstage drama behind the measure. Kashkari was a favorite choice of the previous Treasury Secretary Henry Paulson, for making a blueprint of TARP. Kashkari narrated how one of his peers began screaming over the exploding situation – the impending collapse of [...]
Daily Mail The Daily Outrage: Bailed-out bank boosting some salaries by as … The San Francisco Examiner, California WHAT: Bailed-out Citigroup is increasing base salaries of thousands of managers by as much as 50 percent. WHY IT’S HAPPENING: In a contemptuously transparent scheme to bypass new federal restrictions on executive bonuses for taxpayer-aided companies, … [...]
Stocks edge higher as investors look to banks – The Associated Press Globe and Mail Stocks edge higher as investors look to banks The Associated Press NEW YORK (AP) — Investors are showing little reaction to word that 10 of nation’s largest banks can repay $68 billion in bailout money. Stocks are moderately higher but [...]
Money High Street US Mortgage Rates Jump to Highest Since December Bloomberg It’s those payments that have brought about a level of stability in housing unit sales.” Rising rates may deepen the US housing slump and sideline consumers hoping to refinance or purchase their first house. The number of Americans signing contracts to … US [...]
Eureka, was instrumental in helping us sell our home. As our family experienced financial hardship we were left with limited options in dealing with our home. Because of our current financial situation and future plans to support our kid’s through college we chose to sell our home. Eureka was creative and always showed to have a solution regardless of the situation. If you are lost, facing foreclosure, or have any questions regarding selling your home, call Eureka a call they will have an answer.
Heriberto Garcia
Austin, TX
