Around Fort Lauderdale, it has become extremely clear just how big a hit its economy has taken as a result of the real estate market’s collapse. It’s like a different world compared to what it was like just a few years ago: overgrown grass rises above many curbs and sidewalks; homes and businesses sit empty [Continue]
WASHINGTON – Aug. 7, 2009 – The federal government is launching a program to simplify and speed up the short-sale process by providing standardized documentation, cash incentives to lenders, and a $1,500 moving allowance to borrowers. Holders of second liens will get up to $1,000 to relinquish their claims. Banks say the short-sale process has [Continue]
(IRVINE, CA) — There is still no good news on the nation’s residential foreclosure front. Experts report cities in California, Florida, Nevada and Arizona still top the country’s foreclosure pole in the first half of this year. In its Midyear 2009 Metropolitan Foreclosure Market Report, the four states accounted for 35 of [Continue]
Business is booming in Greater Fort Myers in Lee County, near the southern end of Florida’s west coast, where realtor Suzanne Sherer is working seven days a week. Sherer says sales at her six-person firm are back at 2005 levels. “We’re seeing bidding wars on entry-level homes,” says Sherer. “Within three days of listing, we have [Continue]
A coming wave of mortgage adjustments threatens to prolong, and possibly worsen, the foreclosure crisis, industry analysts warn. Estimated 2.8 million option adjustable-rate mortgages are scheduled to reset in the coming years, with the peak in mid-2011. Those resets will cause those borrowers’ monthly payments to balloon, potentially [Continue]
The economic slowdown has brought a major mortgage crisis in Orlando city too. As a result, a large inventory of Orlando Foreclosures is available and are cheap – almost 10- 50% low in cost as compared to the open market and have the best of locations and properties to choose from. Most of the Orlando [Continue]
A short sale can be the best option for the homeowner facing foreclosure , in today’s market homeowners need to be proactive instead of reactive. Orlando, FL July 22, 2009 – Short Sale vs. Foreclosure: A short sale is a better option than: Deed in lieu of Foreclosure, Bankruptcy, or Foreclosure, There are many, many reasons [Continue]
PHOENIX — Each time Lance and Kelli Thorson thought they had found their first home, someone would outbid them. It’s already happened at least 15 times. This wasn’t how it was supposed to be in a depressed housing market like Phoenix. Buyers are supposed to be able to walk in, and get pretty much whatever they [Continue]
Bidding wars are returning to South Florida’s housing market, as investors and first-time buyers compete for homes and condominiums listed at $200,000 or less. The race for properties is reminiscent of the boom years from 2000 to 2005, when multiple offers on all types of dwellings helped push prices to record highs. Back then, a dearth [Continue]
We are facing an unprecedented rise in foreclosures in the United States that threatens our financial security and the stability of our communities. Today, every homeowner is acutely aware of the rapid decline in property values. The real estate euphoria that took place during the “boom” years at the beginning of this decade has vanished. [Continue]
