Foreclosure/ Bank-Owned (REO)

Daily Real Estate News  |  December 4, 2008

Housing consultancy Global Insight reports that nationwide, housing prices are now 3.8 percent undervalued, based on total market value. It says values fell at a faster pace in the third quarter after stabilizing earlier in the year.
According to Global Insight’s calculations, prices are now 6.5 percent below their 2007 peak. […]

If a person has been steadily employed and paying income taxes their entire life, they should not lose their home following the circus of the last 8-9 years when gas prices quad-rupled, among other things.  I have a better solution:  Forgive all home mortgages.  A person with multiple homes would write-down their primary residence only.  […]

Despite the fact that the $250 billion the government plans to invest in banks is intended to help them make new loans, J.P. Morgan Chase, BB&T, and Zions Bancorporation are among the financial institutions hoping to use the money to acquire other banks.
While some experts are worried such deals could further the trend of […]

The proposed financial bailout package being considered by lawmakers will come at a cost of as much as $700 billion.
To put it in perspective, using numbers from the U.S. Census, the $700 billion is equal to:

About $2,300 per American
About $6,000 per U.S. household
About 85 percent of the New York State economy
The combined economies of […]

September 18, 2008
Foreclosures: Trouble Tarnishes Paradise
In some of America’s wealthiest enclaves, the economic slowdown is putting multimillion-dollar mansions on the foreclosure list.
According to RealtyTrac, an online foreclosure marketing firm, “In this real estate cycle, no ZIP code, no neighborhood, was immune.”
The biggest drivers of problems in the mansion market were buyers who took out loans […]