Another Reason Foreclosures Will Rise
June 29, 2009
The paperwork required to make loan modifications in the mortgage
industry are intentionally complicated. With so many homeowners in need
of mods, the system is over-stressed, and a lot of time is being wasted
and information is falling through the cracks. The end result almost
assuredly will be more home foreclosures.
http://www.nytimes.com/2009/06/29/business/29loanmod.html?_r=1&ref=todayspaper
Short Sales To The Rescue
June 25, 2009
Recent changes in the Obama administration’s approach to the housing
crisis have made short sales more attractive to both lenders and
homeowners. Both stand to receive cash incentives and a more
streamlined process that could help check surging foreclosure numbers.
Deed-in-lieu transactions also could spike, as the government is
offering money toward those transactions, as well.
http://realestate.yahoo.com/info/news/new-loan-modification-short-sale-options;_ylt=Ai2HBr5VJnQ8E2m_bzv0h3mkF7kF
Grass Getting Greener In Uvestor’s Backyard
June 24, 2009
Louisville’s Phoenix Hill neighborhood has been transformed in
recent years through active community involvement and affordable
renovation projects. Abandoned homes and homes left in disrepair have
been replaced by more desirable ones. Still, the number of homes that
are vacant or are in danger of foreclosure total in the millions, and
this trend isn’t expected to change any time soon. Cities are seeking
creative solutions, including converting property back into farming
space.
http://www.msnbc.msn.com/id/31529363/ns/business-mortgage_mess/
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