Despite efforts to help distressed homeowners, more homes in Florida became bank owned in September and in the July to September quarter compared to previous periods. Even the suspension of foreclosures by…
Biggest Lenders’ Foreclosure Freeze Could Further Increase Short Sales
The suspension of foreclosures by GMAC Mortgage, JPMorgan Chase, Bank of America, PNC Financial Services Group, Goldman Sach’s Litton Loan Servicing and other large lenders that may follow suit could further rev…
18 States Work Out Programs to Help Distressed Homeowners with $4.1 Billion
If your state is not among the 32 states implementing the Emergency Homeownership Loan Program, then your state is among the 18 states that were granted $4.1 billion in Hardest Hit Fund…
Emergency Homeowner Loan Program for Residents of 32 States
If you’re a distressed homeowner living in the 32 states that did not receive any money from the Hardest Hit Fund established in February, then you might qualify for the Emergency Homeowner…
Are Your Parents Asking You About Reverse Mortgage?
Different families have different parent-child relationship dynamics. Some parents don’t feel the need to inform their adult children about decisions that could impact their children in the future while others see to…
Foreigners Now Buying Homes Instead of Stocks
A rising number of foreign investors in U.S. stocks are now buying homes after finding out how low home prices have fallen and how they can earn more from buying homes than…
Nine Things You Need to Know About Flood Insurance
The flood insurance provision of the National Flood Insurance Program has just been extended by Congress to September 30, 2011, so it’s a good time for homeowners who don’t yet have flood…
Foreclosure Paperwork Problem — What Does It Mean to Homeowners?
One of the country’s largest banks, J.P. Morgan Chase, has just announced that it will suspend foreclosures in 23 states where there are a lot of troubled homeowners fighting court-ordered evictions with…
Buying a Home? Check out Special Offers from Fannie Mae
Fannie Mae continues to find ways to make home buying easier and less costly for you. Since 2009, this agency has been backing two out of every five single-family loans securitized in…
Sales of New Homes Vs. Sales of Existing Homes in August
Home buyers continued to take advantage of lower prices as they preferred more affordably-priced pre-owned homes over higher-priced new homes in August. While sales of new single-family homes were unchanged compared to…