There has been a lot of buzz as of late about a new refinancing initiative that promises to “reduce principal.” While there are many conditions on eligibility, and while as proposed it would only be available to “primary home” borrowers (thus excluding the second home and investment property owners here in the Ocean City Maryland [...]
The Orlando Sentinel had a good article today that is worth a read by any homeowner considering a short sale as a way to get out of an underwater loan. Although it is a Florida-focused article, the same caution would also apply to a Maryland homeowner:
“What these homeowners, whose loans are “underwater,” may [...]
Another article found today about how clever it is not to pay your mortgage, and how we may be in for a VERY, VERY LONG ride to home price and mortgage stabilization in America:
“For Alex Pemberton and Susan Reboyras, foreclosure is becoming a way of life — something they did not want but [...]
The Maryland Coast Dispatch had an interesting article this Friday about the impact of, what might be, a potential tsunami of Ocean City Maryland resort condominium and home foreclosures and REOs in the future:
“Locally however, Worcester County is below both the state and national average for foreclosure properties, but, according to Robert Smith, [...]
HousingWire.com is reporting that more borrowers are increasingly planning “strategic defaults” with their housing debt:
“A contagion effect within communities is leading borrowers to consider default as an acceptable option in the face of financial hardship, Fannie found. Both delinquent and current mortgage borrowers are more than twice as likely to have seriously considered [...]
We’ve been noticing recently in many of the real estate agent ads and Web Sites, claims by agents to special expertise in negotiating short sales and deeds in lieu of foreclosure with lenders on behalf of their buyer and seller clients. Various “Certifications” in such negotiation expertise are out there and are being touted by [...]
Michael David White at NewObservations.net had an interesting piece last week arguing that defaulting on one’s mortgage is a patriotic duty:
“The government is dropping nuclear bombs on the mortgage market and nobody is dying. They can’t move the product. What has been taking off are foreclosures. They are soaring. The general feeling is [...]
Well it’s 2010, and the New York Times has a piece worth a read about the current 2010 version of The Housing Crises.
“The financial crisis and Great Recession have their roots in the housing bust. When it comes, a lasting recovery will be evident in a housing rebound. Unfortunately, housing appears to be [...]
Mark Zandi, chief economist at Moody’s Economy.com said yesterday in an interview with Reuters that he expected home prices to resume their decline by early next year as foreclosure sales pick up again.
“The housing crash is not over,” he said.
“Home prices, as measured by the Standard & Poor’s/Case-Shiller U.S. National Home [...]
From the LA Times, at http://www.latimes.com/classified/realestate/news/la-fi-harney20-2009sep20,0,2560658.story :
” A study shows that people who abruptly and intentionally abandon their mortgages often have high credit scores, in stark contrast with most financially distressed borrowers.”
“Research using a massive sample of 24 million individual credit files has found that homeowners with high scores when they [...]
