Liz Pulliam Weston wrote recently on steps to take if you’re facing foreclosure. There are smart ways to go about it, and not-so-smart ways. Here are her first three suggestions with some of my comments:
Make a budget. If there are places that can be cut in your budget that will make the difference between losing [...]
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Free Money Finance recently had an acquaintance of his go into foreclosure, and the signs of trouble were clear in retrospect.
People don’t advertise that they’re facing foreclosure, at least not outwardly. Even if money is getting really tight, people can compartmentalize the worry when they’re interacting with others. One family I know had a fairly [...]
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This article from the Chicago Tribune made a point about lenders that’s an unfortunate reality:
The more equity you have in your home, the less eager your lender may be to work with you. It’s an ironic fallout of the foreclosure crisis that those who have been the most diligent about making payments and have lived [...]
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Some new developments in California are mostly, or just about entirely, vacant.
The housing industry had been stepping on the accelerator for a few years at the beginning of the decade. As big as it is, it gained momentum over those years. But now that it’s been barreling along so fast for so long, it will [...]
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Foreclosures are making people sick. Literally. It’s possible that there is a link between the West Nile virus and foreclosed properties, particularly properties with swimming pools that become standing water once abandoned and provide a home to lots of mosquitoes.
Falling property values in neighborhoods with abandoned houses makes sense. Increased crime due to vandalism of [...]
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Even though it’s hard to go more than a few days without hearing about the housing slump and foreclosures, it’s a bit of a distant concept if no one you know has faced it.
Well, over the past couple of weeks we took a "love offering" at our church for one of our families. A substantial [...]
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Fifteen to twenty thousand dollars in repairs because thieves stole $40 worth of copper? Ouch. That was a bit more than I would have guessed. Maybe a couple thousand at the most to repair a wall or some floors? Not $20,000!
Very costly repairs like this will drag down housing prices further. [...]
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Capitalism at its finest.
Restaurants are feeling the pain with $4 gas and tightening pursestrings, so they’re sharing the pain by offering “recession specials” — slightly cheaper offerings to help strapped clients enjoy some of the finer things. These deals aren’t really that great compared to cooking in but it’s better than no discount at [...]
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This is just for the Dallas-Fort Worth area but the number of foreclosures filed against $1-million-plus homes more than doubled this past year. One hundred twelve percent higher for the first six months of this year compared to last year, to be exact.
As for slightly less-expensive homes, the increases in foreclosure filings were still [...]
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There’s legislation ongoing in Albany, NY, that will allow judges to postpone foreclosure proceeding and modify interest rates on mortgage notes of subprime borrowers. The Wall Street Journal contends in an editorial that this is “pols … taking a whack at bank balance sheets” by giving judges the authority to put off foreclosure proceedings [...]
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