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15 Articles match "New York","Sales"
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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. Because when buyers look at recent home sales they do not distinguish between homes sold by owners and homes sold by investors, they merely look at sale prices. No less important, unit sales declined 23.4 Don’t Dump Investors By Peter G. Miller When it comes to bailing out giant banks, huge companies and massive stock brokerages theres no shortage of government interest and activity.
www.realtytrac.com
- Tuesday, February 3, 2009
Long-Term Solution for Fannie and Freddie Dilemma
If Fannie Mae and Freddie Mac collapse the result would be the wholesale destruction of the national mortgage system; a virtual halt to home sales because few local mortgages would be available; soaring interest rates because few loans would be available and a level of losses throughout the economy unseen since the Great Depression. The huge problems at Fannie Mae and Freddie Mac were supposed to be resolved with new management and revamped accounting, but no resolution could revolve a basic issue: Private mortgage buyers are always at a disadvantage when competing against Fannie Mae
www.realtytrac.com
- Tuesday, February 3, 2009
New York Versus Freddie Mac: Round One
New York Versus Freddie Mac: Round One By Peter G. Miller It’s fight time in New York. On one side is newly-passed state legislation which sets tough standards for subprime and “high cost” loans and on the other is Freddie Mac, which says it won’t buy such loans in the state after September 1st, the day the new law goes into effect. This is a big deal because if New York lenders can’t sell mortgages to buyers such as Freddie Mac, they simply won’t make such loans. You can guess what happens next:
www.realtytrac.com
- Tuesday, February 3, 2009
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New York Foreclosure Laws
New York Foreclosure Laws New York foreclosures are handled either in court or out of court, although court foreclosures are more common. New York foreclosures can take up to 15 months, which is longer than most other states. Compare All State Foreclosure Laws New York Overview Judicial Non-Judicial Process Period Sale Publication Redemption Period Sale/NTS
www.realtytrac.com
- Tuesday, February 3, 2009
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New York Versus Freddie Mac: Round One
New York Versus Freddie Mac: Round One By Peter G. Miller It’s fight time in New York. On one side is newly-passed state legislation which sets tough standards for subprime and “high cost” loans and on the other is Freddie Mac, which says it won’t buy such loans in the state after September 1st, the day the new law goes into effect. This is a big deal because if New York lenders can’t sell mortgages to buyers such as Freddie Mac, they simply won’t make such loans. You can guess what happens next:
www.realtytrac.com
- Tuesday, February 3, 2009
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U.S. Foreclosure Laws
Knowing the process in your state will help you adopt a more effective investing strategy and avoid procedural pitfalls. State Foreclosure Laws Quickly locate and review the foreclosure law specific to your state � or any state you�re considering investing in. Select A State Alabama Alaska Arizona Arkansas California Colorado Connecticut
www.realtytrac.com
- Tuesday, February 3, 2009
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Avoid and Stop Foreclosure - Help at RealtyTrac
Check out our NEW Features! Login Why Join? FREE Trial Feedback Help
www.realtytrac.com
- Tuesday, February 3, 2009
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$15.75 million pre-foreclosure purchase of Don Johnson's home
A last-minute pre-foreclosure sale last week allowed actor Don Johnsonof televisions "Miami Vice," to avoid foreclosure on his Aspen, Colo.,estate, 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. 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
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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Bank-Repossession Beat Continues in March
And for the second month in a row, the number of bank repossessions, or REOs, was up more than 100 percent year over year. The implication: while significantly more homeowners are falling into foreclosure, there is an even bigger increase in the number of homeowners already in the process who are losing their homes to foreclosure — whether through the typical foreclosure sale mechanism or whether by pre-empting the public foreclosure sale through what is called a deed in lieu of foreclosure. The year-over-year increase in bank repossessions was even more dramatic in some
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Subprime Market Sinking Further Into the Abyss
The latest victim of its own success is New Century Financial Inc. As a result, the lender’s stock on the New York Stock Exchange (Symbol = NEW) plummeted almost 70 percent. As this story continues to unfold, real estate investors, homebuyers and industry professionals are some of the legitimate sources of salvation for homeowners who may now be facing not only higher mortgage payments, but the sale of their loan servicing contract to a totally different lender who acquires it in bankruptcy. The latest developments in the subprime lending market should have the entire real estate industry up in arms (figuratively and literally).
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. If not caught, the flipper pockets the profit produced by the artificially inflated sales price (see diagram below from FBI report). The report goes on to pinpoint “foreclosure-rescue” scams as an emerging form of fraud that takes advantage of the growing number of homeowners in default. “The perpetrators convince homeowners that they can save their homes from foreclosure through deed transfers
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Foreclosure "Megatrends"
Sales are down. 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, Foreclosures are rising. Home prices are falling.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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