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 [...]
Recognizing the signs of a family facing foreclosure
October 3rd, 2008 · No Comments
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Will your lender work with you?
September 13th, 2008 · 1 Comment
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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Modern-day ghost towns
August 22nd, 2008 · No Comments
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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Virulent foreclosure side effects
August 16th, 2008 · No Comments
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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Do you have any friends facing foreclosure?
August 5th, 2008 · No Comments
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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Vacant home burglaries result in costly repairs
July 23rd, 2008 · No Comments
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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Hey, at least you can get a free drink
July 16th, 2008 · No Comments
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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Luxury homes see a big jump in foreclosures
July 4th, 2008 · No Comments
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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Albany’s “foreclosure intervention” bill confuses me
June 18th, 2008 · 3 Comments
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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You may already have won a foreclosure!
June 5th, 2008 · No Comments
Who would’ve thought it? Ed McMahon is in default on his Beverly Hills home. Star searches these days reveal rich-and-famous folks getting behind on their payments.
I’ve watched lots of shows with Mr. McMahon, including TV’s Bloopers and Practical Jokes, Star Search, and of course The Tonight Show and it is a bit sad [...]
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