7 Articles match "America","Properties","Subprime"

• The Best from RealtyTrac

  MORE

• 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
  READ MORE
• March Mania and RealtyTrac's 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. For the best foreclosure opportunities during the subprime meltdown, join RealtyTrac for the most comprehensive foreclosure data nationwide. 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
  www.foreclosurepulse.com - Tuesday, December 16, 2008
  READ MORE
• 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. But at the end of the day, is it something real estate investors need to concern themselves with when it comes to dealing with homeowners who are in the midst of financial crisis or the banks when buying an REO property? Maybe, if you’re still 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
  READ MORE
• Not Enough Rope in Administration's Lifeline' Program
  
  The Administration has encouraged six of the nation’s largest lenders — Bank of America, Citigroup, Countrywide Financial Corp., On the plus side, the Lifeline program is not being applied to only subprime adjustable-rate mortgages (ARMs). Plus, the program is not available to borrowers who are within 30 days of the property’s foreclosure sale (in most states known as the Trustee’s Sale or Sheriff’s Sale and normally conducted on the local courthouse Just a few short months ago President Bush stood in front of the press and swore that it was not the federal government’s job to bail out either lenders who made bad loans or speculative homebuyers who purchased more home than they could rightly afford utilizing the so-called “exotic” or “liar loans” popularized over the past few years.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
  READ MORE
• High-End Foreclosures Rising Among Top Tier Homes
  
  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 behind on their construction loans, mortgage payments, property taxes, auto loans and credit cards at an alarmingly fast pace, according to industry analysts, economists and real estate brokers . 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
  www.realtytrac.com - Tuesday, February 3, 2009
  READ MORE
• Another Approach to $700 Billion Bailout
  
  If a property was sold and the entire amount was not repaid, the borrower would be required to pay $500 a year until the debt was fully paid off. In effect, the pay-off system would resemble the concept approved over the summer for first-time home buyers, a system which provides a $7,500 tax credit up front that must be repaid when the property is sold." Stop fanning the fantasy of the “American Dream” of owning an outrageous Peter Miller, author of the Common-Sense Mortgage, has offered up some alternatives to the proposed $700 billion bailout plan. Below are excerpts from
  www.foreclosurepulse.com - Tuesday, December 16, 2008
  READ MORE
• As Home Prices Plummet, When Will You Buy?
  
  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 It is sobering to realize that weve just gotten through one wave (subprime) and are heading into several more waves of risky loans. 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
  www.foreclosurepulse.com - Tuesday, December 16, 2008
  READ MORE