Representative Tim Bishop has issued a statement in support of the Helping Families Save Their Homes Act which was approved by the U.S. House of Representatives. The bill, which is aimed at abating the flood of foreclosure homes (http://www NULL.bankforeclosuressale NULL.com/) in the county, is now on the Senate for consideration. The measure is expected [...]
Aid for Illinois Neighborhoods to Address Foreclosure Homes
March 18, 2009 by Leave a Comment
The Illinois (http://www NULL.illinois-foreclosure-homes NULL.com/) Department of Human Services (IDHS) and the U.S. Department of Housing and Urban Development (HUD) have signed the Neighborhood Stabilization Program (NSP) agreement aimed at helping distressed neighborhoods reduce the number of foreclosure homes (http://www NULL.bankforeclosuressale NULL.com/). The program will provide emergency assistance of $53 million to non-profit organizations, developers [...]
Anti-Foreclosure Homes Plan Too Late for Some Families
March 18, 2009 by Leave a Comment
Last February, President Barack Obama announced his $275 billion anti-foreclosure homes (http://www NULL.bankforeclosuressale NULL.com/) plan intended to help nearly 5 million owners of distressed properties (http://www NULL.findforeclosureproperties NULL.com/). The anti-foreclosure homes plan was welcomed with much hope by the housing industry and millions of distressed borrowers, but not by some troubled homeowners in Washington who [...]
1.5 Million Houses on the Brink of Foreclosure
March 18, 2009 by Leave a Comment
The combined number of defaults and mortgage loans in foreclosure process (http://www NULL.foreclosuredeals NULL.com/foreclosure-process NULL.php) has now reached its highest level of 11.18 percent, according to the Mortgage Bankers Association’s (MBA) National Delinquency report. According to the MBA report, the percentage of homeowners who are behind on their loan payments for at least a month [...]
What to Do After Foreclosure
March 18, 2009 by Leave a Comment
There is no good in being left clueless after foreclosure (http://www NULL.foreclosuredeals NULL.com/). Here are some pointers that can help you survive a foreclosure situation: Find out whether your state implements a redemption period. After the foreclosure sale (http://www NULL.bankforeclosuressale NULL.com/), homeowners are given the period of a few days to a month or even [...]
Chicago Put Illinois High on Lists of Foreclosures by State
March 18, 2009 by Leave a Comment
The rise in new foreclosure filings in Chicago (http://www NULL.illinois-foreclosure-homes NULL.com/listing/county031/chicago NULL.html) in 2008, as reported by nonprofit group National Training and Information Center, put Illinois (http://www NULL.illinois-foreclosure-homes NULL.com/) high on several lists of the ten U.S. states with the highest foreclosures by state (http://www NULL.foreclosurelistingsnationwide NULL.com/listings NULL.php) in 2008. Total foreclosure filings reached 19,943 [...]
Appraisals and Tax Foreclosure Properties
March 18, 2009 by Leave a Comment
A couple of years ago, before the foreclosure crisis (http://www NULL.eforeclosuremagazine NULL.com/category/foreclosure-crisis) started, the foreclosure (http://www NULL.foreclosuredeals NULL.com/) factor was not included in real estate appraisals even if there were also tax foreclosure properties (http://www NULL.foreclosuredeals NULL.com/taxforeclosureproperties NULL.htm) then. The number of lender foreclosure properties (http://www NULL.findforeclosureproperties NULL.com/) then plus the number of tax foreclosure [...]
Obsolete Laws Worsen Foreclosures by State
March 18, 2009 by Leave a Comment
Obsolete foreclosure laws (http://www NULL.foreclosuredeals NULL.com/foreclosure-laws NULL.php) have been aggravating foreclosures by state (http://www NULL.foreclosurelistingsnationwide NULL.com/listings NULL.php), according to the National Consumer Law Center (NCLC). Foreclosure laws or the lack of homeowner protection laws have been protecting other parties, such as lenders (http://www NULL.foreclosuredeals NULL.com/lenders NULL.php) and renters, much more than homeowners. One of these [...]
Earn Money by Flipping Florida Foreclosures
March 18, 2009 by Leave a Comment
In this down housing market, you can still make money by flipping residential properties (http://www NULL.foreclosuredeals NULL.com/flipping-houses NULL.php). You just have to increase your know-how on good locations, available capital, mortgage lenders (http://www NULL.foreclosuredeals NULL.com/lenders NULL.php), home prices and the risks involved. The number of Florida foreclosures (http://www NULL.bankforeclosuressale NULL.com/list/florida NULL.html) has made the state [...]
Banks Scramble to Prevent New Law Addressing Foreclosures by State
March 18, 2009 by Leave a Comment
The new bankruptcy law that is set to pass legislation would let judges cut down interest rates and reduce values of principals for home loans in a bid to curb foreclosures by state (http://www NULL.foreclosurelistingsnationwide NULL.com/listings NULL.php). This bill has been in the drawing boards for two years and failed to see light as Republicans [...]