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 [...]
CNNMoney had a very thought provoking article today that should be a must read for any home owner, particularly those pursuing a short-sale or deed-in-lieu end to their troubles:
“Former homeowners may still be on the hook if there’s a difference between what they owed on their mortgage and what the bank could sell [...]
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 [...]
DSNews.com is reporting an increased shift by lenders towards Short Sales as a solution to their problems:
“Nearly 2 million housing units in the United States are in foreclosure or are bank-owned, and more are expected to follow, RealtyTrac said. Citigroup experts say the government’s current solutions have been ineffective at keeping people in [...]
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 [...]
Here’s a blockbuster. Fasten your seatbelts.
“The Treasury announced Dec. 24 that the two mortgage- finance companies, which were seized by the U.S. almost 16 months ago, could tap an unlimited amount of capital for three years, up from as much as $200 billion each.”
That’s right. On Christmas Eve, while everyone else in America [...]
