Best time for borrowers to ask for help

Monday, December 1st, 2008

Read this interesting article in The New York Times on how lenders are willing to change the loan terms if homeownership costs exceed 38 percent of gross monthly income a measure known as the debt-to-income ratio. With the economy in full retreat and the jobless rate rising, borrowers and lenders ...

Posted in Nation News, Real Estate | 1231 Comments »

President Obama’s plan to tackle housing crisis

Thursday, November 6th, 2008

In midst of nation's financial crisis a ray of hope has emerged with Barack Obama being elected as the nation's 44th President. The President's immediate focus is on deciding how to implement the $700 billion rescue program which the Congress had passed in October. He has proposed a 90-day foreclosure ...

Posted in Foreclosure News, Nation News, Real Estate | 586 Comments »

September 2008 Foreclosure activity decreases by 12 percent

Friday, October 24th, 2008

RealtyTrac’s U.S. Foreclosure Market Report released yesterday shows foreclosure filings like default notices, auction sale notices and bank repossessions were reported on 265,968 properties in September, a 12 percent decrease from August, but still a 21 percent increase from September 2007. One in every 475 U.S. housing units received a ...

Posted in Business News, Foreclosure News, Nation, Nation News, Real Estate | 142 Comments »