15 Articles match "2008","America","Foreclosures"

• The Best from RealtyTrac

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• America's Most Expensive Foreclosure?
  
  Mention the word “foreclosure” and most homebuyers and investors conjure up images of run-down and dilapidated properties located in undesirable neighborhoods. The widow of one of America’s richest publishing dynasties, Randolph Hearst , lost her battle to maintain the mansion under the crushing weight of an astounding $40 million in defaulting loans, according to the Palm Beach Post . Who said the foreclosures But now some of the most opulent estates are increasingly becoming available for savvy investors and homebuyers as a growing number of well-healed homeowners are defaulting on their mortgage payments and property taxes.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Big Ben Is Finally Talking Foreclosures
  
  Big Ben Bernanke, that guy at the top of the nation’s financial food chain, finally admitted Tuesday in an address to a group of the nation’s community bankers that foreclosures are not going to go away anytime soon. The Fed Chief gave two reasons for the bleak forecast (both of which have been espoused in previous posts in this blog): 1) further declines in housing prices are expected; and 2) significant resets of adjustable interest rates to unaffordable levels for many borrowers who were convinced to take out the more risky loan products of the past few years. Speaking at the
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Foreclosures in Money's 'Best Places to Live'
  
  Money magazine came out last week with another of its Top 10 lists; this one called "America’s Best Places to Live 2006 ." They could have added a healthy foreclosure market as well. According to the latest data on the RealtyTrac website, Fort Collins has only 20 properties in the pre-foreclosure stage, but 226 properties are ready to go to auction and another 156 are bank owned (REO). And the winner is . . . Fort Collins, Colorado.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Lenders help their customers curb foreclosures
  
  headquartered in Cleveland, Ohio — is working with churches, social workers and the United Way to help troubled borrowers avoid foreclosure. Bank of America Corp. The $3 million investment has prevented $15 million in likely foreclosure losses. Each foreclosure costs about a As borrowers falling behind on their mortgage payments increase in number, they are getting help form an unlikely source — the mortgage industry. Banks are increasingly testing new strategies to help curb mortgage delinquencies .
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• March Mania and RealtyTrac's Sweet 16 Foreclosure List
  
  This weekend, as the best college basketball players square off, RealtyTrac will tip off its Sweet 16 foreclosure list. SW, Albuquerque, NM — Opening Bid: $83,892 SOUTH REGION SEMIFINAL With many homeowners singing the post-Katrina blues in Louisiana and Mississippi, buying a foreclosure property is a slam dunk for seasoned real estate investors. Charlotte, NC — Opening Bid: $10,700 Scoring points in the foreclosure market is easier than reaching Each spring brings the beginning of the real estate sales season and the end of college basketball, culminating with March Mania and the much awaited NCAA Sweet 16 playoff.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• From $2B Bailout to $4B Buyout at Countrywide
  
  Just late last year Bank of America infused $2 billion into the coffers of Countrywide Financial to support the floundering lender’s attempt to survive the subprime mortgage mess — which reportedly almost forced the firm into filing for bankruptcy protection earlier this week. Now with Countrywide’s stock weak and its value depressed, it is being widely reported that Bank of America is paying $4 billion in stock to buy out the company — in which it already had a 16 percent stake in convertible preferred stock after the bailout. It didn’t take long from a historical perspective.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Will Main Street Sink Wall Street?
  
  The near-collapse of the two Bear Stearns hedge funds proves that the depth of America’s foreclosure fiasco is far from over. Fear and anxiety could trigger a massive sell-off, exposing other Wall Street financial institutions to the same excesses of America’s housing bubble on Main Street. According to RealtyTrac , subprime loans made a major contribution to the more than 430,000 foreclosure filings reported during the first quarter Mounting mortgage defaults by American homeowners with shaky credit have claimed their first Wall Street casualty, as investment banking giant Bear Stearns shuffled the leadership of its asset-management division and lost billions in the risky hedge fund market last month.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• 40 Is the New 30 for Lenders and Investors
  
  Wells Fargo, for example, just announced that it is joining the growing number of lenders, like Washington Mutual and Bank of America, that are offering 40-year fixed-rate loans. Whether 40-year fixed-rate mortgages will help distressed homeowners who cant afford their monthly mortgage payment keep their property out of foreclosure -- its too early to tell. But it could also be a curse, with less Well, as Fed Chairman Ben Bernanke decides on his next move -- will he or wont he ratchet up interest rates another 25 basis points next month as most economists are predicting -- mortgage lenders are also pondering their next moves.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Customers, Employees Credited for RealtyTrac's Deloitte Fast 50 Ranking
  
  Saccacio credited the company’s continued success to a loyal customer base of real estate investors, home buyers and real estate professionals who continue to see the value of the information and research tools RealtyTrac provides to successfully take advantage of foreclosure opportunities where they present themselves. Saccacio also thanked a hard working group of employees who are dedicated to servicing the needs of those customers to assure them of the most accurate and up-to-the-minute data possible, along with the most technologically advanced tools available to make researching and
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Federal Lifeline DOA for Most People
  
  As Myers points out in her story, the new housing bill signed by President Bush earlier in the week will help a fraction of the families facing foreclosure. Personally, what irked me the most about the piece was a couple she interviewed who are facing foreclosure and are obviously expecting this bill to be a personal bailout by the federal government. They would not be the first people in America stuck in that situation. After listening to NBC Senior Correspondent Lisa Myers’ story on The Today Show last week, I am more convinced than ever that, as the old saying goes, people want their cake and to eat it too!
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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