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16 Articles match "2008","New York","Properties"
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The Latest from RealtyTrac
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Don't Dump Investors
See: From the New Deal, a Way Out of a Mess, The New York Times, Feb. 23, 2008.) Our Secretary of the Treasury, Henry Paulson, says “as our economy works through this difficult period, we will look for additional opportunities to try to avoid preventable foreclosures. Because investor properties lost to foreclosure will continue to flood the market, driving down all home values. Don’t Dump Investors By Peter G. Miller When it comes to bailing out giant banks, huge companies and massive stock brokerages
www.realtytrac.com
- Tuesday, February 3, 2009
No Mortgage Meltdown For These Banks
not far from Manhattan, Hudson City Bancorp has a lending philosophy that dates back decades: You can get a dull, boring, mortgage from Hudson at a very low rate — but only if you put equity into the property. Hudson has deposits of $49 billion, a network of 125 branches in New Jersey, New York and Connecticut and just 1,350 employees — a fraction of the workforce one would find with banks of similar size. No Mortgage Meltdown For These Banks By Peter G. Miller The news from Wall Street in recent weeks has
www.realtytrac.com
- Tuesday, February 3, 2009
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Beginner investors wise to avoid auctions
A recent New York Times article about foreclosure auctions reminded me why none of the experienced foreclosure investors Ive talked to recommend foreclosure auctions for people just getting started in real estate investing: "Yet while there is a tantalizing possibility of getting a deal, people who are intimately familiar with foreclosure auctions in New York — lawyers, mortgage bankers, brokers and former auction regulars — advise steering clear of them. Success is not impossible, but to even set foot in the ring you must put in hours of due diligence and overcome myriad obstacles,
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Bank-Repossession Beat Continues in March
In the latter case, the homeowner offers to convey ownership of the property to the foreclosing lender. The lender also has to agree to the DIL arrangement, which may involve clearing out other liens secured by the property. But that may be better than the alternative — a costly and lengthy process that will quite likely end with the bank repossessing the property anyway. For the third month in a row U.S. foreclosure activity registered at more than 50 percent above the level it was at a year ago, according to the March RealtyTrac U.S.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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$15.75 million pre-foreclosure purchase of Don Johnson's home
estate, according to an article in the Aspen Daily News . "Don Johnson may have saved his Woody Creek ranch frombeing sold Wednesday at a foreclosure auction, but it was because thecelebrity unloaded his 17-acre property Monday for $15.75 million,according to records at the Pitkin County Clerk & Recorders Office. "An attorney for Johnson said Friday that a portion of the sale proceedswent toward paying off the alleged default to New York-based lenderD.E. A last-minute pre-foreclosure sale last week allowed actor Don Johnsonof televisions "Miami Vice," to avoid foreclosure on his Aspen, Colo.,estate,
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Where to find the best deals on foreclosures
Our analysis of nationwide foreclosure property sales in the last seven months shows that while some areas of the country documented a plethora of properties in foreclosure and big savings on foreclosure purchases, other areas reported relatively low foreclosure inventories and smaller average savings on foreclosure purchases. In addition, the low average sales price of foreclosures in these states makes it easier to purchase a foreclosure property — especially at foreclosure auctions, where the full amount in cash is sometimes required. It’s important for buyers and investors who are interested in the foreclosures market to carefully evaluate local market conditions before diving into foreclosures in any given area.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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The $3 Billion Foreclosure Payday
During the last housing slump, Paulson was a foreclosure investor, buying two distressed properties; a New York apartment and a large home in the Hampton on Long Island. Meanwhile, Wall Street had started a new trading index to bet for or against subprime mortgages, called the ABX, which reflect the value of a pool of subprime mortgages made over a six month period. And things You may not know who John Paulson is, but you soon will. Last year, Paulson made $3 billion betting on foreclosures .
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Foreclosures up 13 percent in February
We show 117,259 properties nationwide entered some stage of foreclosure in February, a 13 percent increase from the previous month and a 68 percent increase from February 2005. Thats a foreclosure rate of one new foreclosure for every 986 U.S. foreclosure rate has moved higher, and it’s the second straight month new foreclosures have topped 100,000. RealtyTrac released our February 2006 foreclosure numbers today, and they show U.S. foreclosures increasing for the third month in a row.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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FBI: Mortgage Fraud Begets Foreclosure
The correlation is apparent in the report’s list of the top states for mortgage fraud: California, Florida, Georgia, Illinois, Indiana, Michigan, New York, Ohio, Texas, and Utah. The FBI also lists Arizona, Colorado, Maryland, Minnesota, Missouri, Nevada, North Carolina, Tennessee, and Virginia as other areas significantly affected by mortgage fraud. The report identifies the most common scam as “illegal property flipping.” The FBI recently came out with its 2006 Mortgage Fraud Report , which somewhat anticlimactically concludes that there is “a strong correlation between mortgage fraud and loans which result in default or foreclosure.”
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Rate Cut, Real GDP Are Some Positive News
percent during the first quarter of 2008, the same rate of increase as tracked for the fourth quarter 2007. economy — no matter how slight it is — the New York Times is reporting that the current situation does not fit into the classic definition of a recession, which is a "significant decline in economic activity spread acorss the economy, lasting more than a few months." 2008 is definitely a good time to jump into the water and find One day after President Bush pointed the finger at Congress and told the American public to blame lawmakers for all of their recent financial woes, an inkling of actual positive news came out of Washington Wednesday with two announcements from government agencies.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Foreclosure "Megatrends"
In a presidential year, Uncle Sam and politicians nationwide are rushing to unveil new and bolder schemes to unravel the foreclosure crisis. As federal, state and local government weighs in of the rising foreclosure mess, look for new plans to halt the foreclosure train wreck. Increasingly, homeowners who put little or no money down are walking away from their homes, mailing their keys — jingle mail — to lenders who gave them toxic loans, Foreclosures are rising. Home prices are falling.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Celebrity Foreclosures
Rich people, it turns out, are just as vulnerable as poor folks to foreclosure. New York Post celebrity real estate columnist Braden Keil today reported that Veronica Hearst, the widow and third wife of Randolph “Randy” A. acre parcel of the property to RGF Holding Corp. Now you can own an exclusive and coveted piece of oceanfront Hearst, is fighting foreclosure proceedings on her 5.1 acre oceanfront estate in Manalapan, just south of Palm Beach, Fla.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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