How to Handle the Housing Market for the Next 4 Years
Posted on December 5, 2008
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 Buy Low Sell High |
The US housing market is currently in a slump for a number of reasons.
Among these reasons:
Foreclosure Prevention Act of 2008 – Help for Homeowners?
Posted on November 15, 2008
Filed Under Foreclosures2 Comments
 Foreclosure Tax Credit |
The Foreclosure Prevention Act of 2008 is currently a bill in congress aimed at helping homeowners avoid foreclosures that result from the recent problems in the home mortgage industry. As of this writing, there is a Senate version and a House of Representatives version.
To become law, one final version will have to be settled on by both houses of Congress and then be voted on. Numerous amendments have been added to both versions of the bill which may or may not change the final bill. However, both of the versions of the Foreclosure Prevention Act of 2008 contain several provisions to aid homeowners.
The passing of either bill will provide the following:
3 Changes That Would Fix the Foreclosure Market
Posted on October 22, 2008
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 Fixing Foreclosures |
Although this recommendation might not be politically correct, some people think lawmakers should make changes that would hasten — rather than extend — foreclosures for borrowers. Doing so would eliminate some uncertainty in the market, by ending the pain more quickly.
This would also reduce lenders’ losses, allow homes to transition to borrowers who can afford the mortgage payments, and ultimately help to more quickly break the vicious cycle of declining home prices.
What is a Foreclosure?
Posted on October 20, 2008
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 Foreclosures |
Getting behind on your mortgage payments does not mean you are a bad person, but it may mean you are facing foreclosure. What is foreclosure? By definition, a foreclosure is:
fore-clo-sure: “A proceeding in which the financier of a mortgage seeks to regain property because the borrower has defaulted on payments.”
Basically you can’t pay your mortgage payments anymore and the bank or mortgage company seizes your property to try to resell.
What a Foreclosed Property Can Be
Foreclosed property, what is it? It can be a business, a home, a piece of land. Usually and traditionally it’s a home. People fall upon bad times, can’t make enough money and their property goes back to the bank and they must move out.
Why There is a Huge Increase in Foreclosed Properties in 2008
Posted on October 18, 2008
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 Foreclosed Homes |
The increasing number of foreclosures is the current hot topic for the media and politicians. Stories of people losing their homes makes for compelling and interesting television. Promising to stop the rash of foreclosures should get a politician a lot of votes. However, neither the media or the politicians are really addressing the important issues of why are the number of foreclosures increasing, when and how did this start and when will it end?
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