Four smart tips to take out a mortgage after foreclosure

If you are a victim of foreclosure, you do not need to consider it as an endless suffering. Foreclosure does bring upon you financial disaster but it does not end your life. You can regain your financial condition, even after you have encountered a foreclosure. You can usually get a mortgage after 2 years of […]

Don’t expect banks to be nice to you for buying their foreclosures

We just purchased a new house this week.  It happened to be a foreclosure.  It was in excellent shape even compared to a house not in foreclosure. I have to say, though, the seller jerked us around quite a bit throughout the whole process.  That wasn’t pleasant at all.  But we ended up getting the […]

Well, this is one way to get rid of unsold homes

If this story is true, this is an ugly development.  (It’s a guy with a video camera, so who knows.)  Banks are allegedly paying to destroy new and unfinished homes that they own rather than pay mounting fines imposed by local government for allowing the homes to stay vacant and poorly maintained. The only people […]

Big jump in foreclosures: Who’s immune?

Probably not too many people.  Though California, Arizona, Nevada, and Florida are still the poster children for the housing carnage, Idaho, Illinois, and Oregon are up-and-comers.  Foreclosures for February 2009 are up 30% from February 2008 levels.  Seven hundred thousand properties owned by banks haven’t been put on the market yet. What may make the […]

Upside down? Prepare now to keep your mortgage current

Plonkee Money is going upside-down a little bit on her mortgage, and is getting a little worried.  She can afford the payments, but she’s concerned that if she were to be laid off she might lose everything. This is a valid concern, and she’s wise to consider how to allocate her resources to protect herself […]