5 Articles match "America","Foreclose","Subprime"

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High-End Foreclosures Rising Among Top Tier Homes
This is just the tip of the iceberg.” McCabe believes that delinquencies and defaults will rise not only among subprime borrowers, but among prime mortgages, Alt-A loans, teaser rate loans and low money-down loans as well, forcing homes valued at more than $750,000 into foreclosure. Already, there’s a glut of McMansions in the $500,000 to $1 million range that have been foreclosed by lenders — and many more are falling into foreclosure, according to an analysis of RealtyTrac foreclosure records in 2006 and 2007 (see graphic). High-End Foreclosures Rising Among Top Tier Homes By Octavio Nuiry, RealtyTrac Staff Writer    Until now, the foreclosure crisis was confined to a narrow niche of middle-class urban communities and outer-rim new housing developments where first-time homeowners and real estate speculators benefited briefly from favorable financing.
www.realtytrac.com - Tuesday, February 3, 2009
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As Home Prices Plummet, When Will You Buy?
It is sobering to realize that weve just gotten through one wave (subprime) and are heading into several more waves of risky loans. For example you see Bank of America adopting a massive, systematic loan modification program. We live in north San Diego and we see a lot of “short sales” and foreclosed properties in some neighborhoods (e.g. Home prices in 20 of the nation's major metro areas in July were collectively down 16.3 percent from a year ago, according to the S&P/Case-Shiller Home Price Index released today.
www.foreclosurepulse.com - Tuesday, December 16, 2008
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Another Approach to $700 Billion Bailout
Stop fanning the fantasy of the “American Dream” of owning an outrageous debt for the next 30 years.
www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • Big Ben Is Finally Talking Foreclosures
    Speaking at the Independent Community Bankers of America Convention in Orlando, Bernanke noted that 1.5 million subprime loans (or approximately 40 percent of the outstanding stock of subprimes) were going to reset in 2008 from just above 8 percent to about 9.25 percent — about a $1,500 increase on the average subprime loan. 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.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • It Used to Be a Day Job
    People feel sorry for the distressed homeowners who are losing their homes as their adjustable rate subprime mortgages reset to higher-than-affordable interest rates. And they felt really bad when the story broke about all the pets being left behind by foreclosed homeowners who either couldn’t afford to take the pet with them, or thought someone would find them and take care of them. That, in my estimation, The far-reaching implications of the nation’s foreclosure crisis continue to snowball a little more every day. In its latest evolution, what started out as the lending industry
    www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • High-End Foreclosures Rising Among Top Tier Homes
    This is just the tip of the iceberg.” McCabe believes that delinquencies and defaults will rise not only among subprime borrowers, but among prime mortgages, Alt-A loans, teaser rate loans and low money-down loans as well, forcing homes valued at more than $750,000 into foreclosure. Already, there’s a glut of McMansions in the $500,000 to $1 million range that have been foreclosed by lenders — and many more are falling into foreclosure, according to an analysis of RealtyTrac foreclosure records in 2006 and 2007 (see graphic). High-End Foreclosures Rising Among Top Tier Homes By Octavio Nuiry, RealtyTrac Staff Writer    Until now, the foreclosure crisis was confined to a narrow niche of middle-class urban communities and outer-rim new housing developments where first-time homeowners and real estate speculators benefited briefly from favorable financing.
    www.realtytrac.com - Tuesday, February 3, 2009
    READ MORE
  • Another Approach to $700 Billion Bailout
    Stop fanning the fantasy of the “American Dream” of owning an outrageous debt for the next 30 years.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • As Home Prices Plummet, When Will You Buy?
    It is sobering to realize that weve just gotten through one wave (subprime) and are heading into several more waves of risky loans. For example you see Bank of America adopting a massive, systematic loan modification program. We live in north San Diego and we see a lot of “short sales” and foreclosed properties in some neighborhoods (e.g. Home prices in 20 of the nation's major metro areas in July were collectively down 16.3 percent from a year ago, according to the S&P/Case-Shiller Home Price Index released today.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE