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16 Articles match "America","Foreclosures","Real Estate"
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The Latest from RealtyTrac
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High-End Foreclosures Rising Among Top Tier Homes
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. But increasingly there are signs that the foreclosure problem is spilling over into wealthier areas, where prime borrowers — and even high-end real estate developers — are rapidly falling
www.realtytrac.com
- Tuesday, February 3, 2009
As Home Prices Plummet, When Will You Buy?
Does this make it a good time to buy real estate? have access to credit have fat cash reserves aren't already over-exposed in real estate have a secure job or income stream expect to hold the property for at least two years" But be forewarned, prices are expected to fall further, and will take awhile to rebound, according to many economists. "I More from Shulman and several other leading economists in the October issue of the Foreclosure News Report , scheduled to be available Home prices in 20 of the nation's major metro areas in July were collectively down 16.3
www.foreclosurepulse.com
- Tuesday, December 16, 2008
Another Approach to $700 Billion Bailout
If a typical home has an average sale price of about $220,000 (many homes now facing foreclosure were financed several years ago with two loans, thus first loans are often significantly less than current market values), and if the average mortgage is $176,000 (80 percent of market values) then the total value of such mortgages would be $440 billion. If the refinancing program was limited to half of the homeowners who will probably lose their homes to foreclosure, Uncle Sam would need to provide loans worth $220 billion. "(Another) alternative idea works like this: Instead of replacing
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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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. 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. If opulence and grandeur is what Consider Veronica Hearst’s Manalapan mansion. The mansion was foreclosed on February 25th on the Palm Beach County courthouse steps.
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. Launch-Point helps job-hunting mortgage customers prepare resumes, practice for job interviews, find job openings and evaluate how the real job interviews went. 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
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. 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 EAST REGION SEMIFINAL The dollar goes a long way in Pittsburgh. Got an extra $1,650?
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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High-End Foreclosures Rising Among Top Tier Homes
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. But increasingly there are signs that the foreclosure problem is spilling over into wealthier areas, where prime borrowers — and even high-end real estate developers — are rapidly falling
www.realtytrac.com
- Tuesday, February 3, 2009
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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. Tauting the lower monthly payments the new product offers will appeal to first-time buyers, consumers in high-cost markets, real estate investors and buyers on a fixed income, the companys press release also warns that equity will build up more slowly as a result of the lower payments and a lot more total interest will be paid over the extra 10 years. 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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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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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
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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