Contrary to popular belief banks don’t want to foreclose on a property. They face a number of consequences which can be avoided by accepting a short sale. A foreclosure lowers their FDIC ratings, REOs are a financial burden, loan to deposit ratios are affected and capital assets are affected which affects lending power. The advantage [...]
Foreclosures don’t just go away just by giving the lender back the property. Property owners who allow a property to go to foreclosure not only adversely affect their credit for up to 10 years but may have a deficiency judgment charg
More Foreclosure To Hit Depressed Market Housing analyst Larry Murphy of Las Vegas based SalesTraq said he’s talking to people in the industry who believe Las Vegas has yet to see the crest of the foreclosure wave. Hundreds
So far, under the Obama plan less than 32,000 home owners out of the 700,000 that went through the three month trail period have actually achieved a loan modification. All these people had to be late on payments in order to apply for the program s
Is the Obama Making Homes Affordable Plan a Disaster? Critics of the Obama administration’s $75 billion program to protect homeowners from foreclosure increasingly argue that the program, Making Home Affordable, has raised false hopes among p
