Foreclosure Recap – Week #31
The good news is that in Cuyahoga County in Ohio the new foreclosure rate has fallen 13 percent for the first half of the year 2009. The bad news there is that they number of homes being foreclosed upon still number well into the thousands. That is nearly 7000 homes and almost half of those were in Cleveland, Ohio alone. Not a great prognosis but the way numbers have been, people it this area will take any reprieve that they can get.
Our next story gives a view that is just the opposite of the last. In this story it says that a good majority of the places in the country are seeing an increase in the number of foreclosures this year over last. The article quotes the www.Realtytrak.com website and gives a lot data that was originally found there but the data all makes a valid point and shows exactly why some areas are being harder hot than the others. It makes a lot of points that lead to conclusions. A lot of these are things that we all might not think about on a daily basis when considering the real estate crash.
Have you ever say down and gotten really upset about the things going on in your life with regards to debt and foreclosure? I am willing to venture a guess that you said yes. I would even go so far as to say that you most likely usually feel like you are the only one that really feels that way and that complaining to the companies just won’t help. Sometimes it does make you feel better. But there is a good chance that you think it is futile. Well the good news, my friend is that you are not alone in that feeling. This is a little article that if nothing else, will make you see that there are other people out there as frustrated as you and going through the same issues that you are going through.
This woman in North Carolina has an interesting story that I would suggest you take the time to read. For one thing it shows that even when things are bad, they can get worse. But on the flip side of that it shows that if you try hard and keep the faith and do whatever you can. Then there is a possibility that things might just work out for you in the long run. It’s not a terribly long story but certainly one that will leave you feeling differently after you read it.
This story is from the state of Florida but is in regards to a Federal Government plan that is aimed at allowing foreclosed homeowners to actually rent the homes that they lose to keep the home from sitting empty and becoming an eyesore that no one wants to deal with. The plan would allow the person that is being foreclosed upon to stay in the home for any where from five to ten years and be able to do so by paying the normal and customary going rate for a home like that in the area in which they are living. It may not be the ideal solution but it does cover a few problem areas and allows the home to stay full and the people to have a place to live so it sort of a winning situation. And when faced with the other option, well it is a good choice.
It looks like if you believe everything that you read, then the use of a loan from the folks down at Housing and Urban Development, more commonly known as HUD, might be a great way once again for families to latch onto their first house in the current market while the prices re so low. Down payments are as low as 3.5 percent and since the banks money are totally assured to be repaid to them. Most lending institution rally to the chance to loan money on a HUD approved loan.
For those of you that have had your fill of sad stories this week, I would advise passing this next one over and going to something of a little less sobering material. There is a shelter in New Jersey that caters to larger bread dogs. Things like the Great Danes and the like who are in need of homes or just at the end of life and looking for a comfortable place to spend the last days on this earth. The economy overall has affected the shelter with less donations and sponsorships which then meant that money had to go to things like food and medicine and as a result the mortgage fell into arrears and the shelter has since fallen into a state of foreclosure.
One group of people finds the current foreclosure market to be interesting and useful. Those would be the folks that are in the market to buy homes at this time and are financially able to do so. The prices are down, the quantity and quality of available housing is up and the area around Jacksonville in Florida has seen a huge jolt in the number of people that are actually looking to purchase. That means that there are more people actually purchasing and so the numbers might surprise you. If you read through the article you can find all the specifics and at the end there is totals that show you which areas of the country are fairly the worse in 2009. Some of them you will understand. A couple might just surprise you.
If you are an avid skier then you will recognize the name Moonlight Basin. What you might not know is that they are facing foreclosure. The ski-and-golf resort and real estate development near Big Sky is struck by foreclosure by its major lender, Lehman Bros. A letter from resort property owners said Lehman had “made the decision to begin foreclosure proceedings,” though the Madison County court clerk said that they have received no kind of foreclosure notice.
If you are looking to get some modifications made to an existing mortgage then this article may be just the thing that you are after. It contains a lot of tips on avoiding foreclosure and tells you various ways to get a loan modification that will suit your needs and have you coming out on the good side of the numbers game. It tells you up front what kind of informationa dn dicumentation that you will need to find and have in order so that the whole process goes smoothly and is less problematic and stressfull. It’s one that every person needs to read just so you know the tools.
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