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1st Foreclosure Prevention Blog


Archive for the ‘Foreclosure News’ Category

January 21st, 2010

Tips and Strategies to Delay a Foreclosure

There are many things which can be done for preventing a foreclosure. First of all you should know the complete procedure of preventing a foreclosure. You should make a list of tips and strategies which you will be using for staying longer in your home.
Nobody knows about the duration of a foreclosure judgment. The duration [...]

posted by admin at 3:04 am
No Comments | Categories: Avoid Foreclosure, Foreclosure News, Loan modification specialist, foreclosure, foreclosure scam |  | 

December 19th, 2009

For the Holidays: Citigroup stops Foreclosures

During the holiday season, Citigroup has put about 4000 foreclosures on halt. Both Citi Mortgage and Citi Financial will halt all foreclosure proceedings on first mortgage accounts nationwide and cease eviction on REO properties already seized ceased. This took effect on December 18th 2009 and will remain in effect until January 17, [...]

posted by admin at 8:58 pm
No Comments | Categories: Foreclosure News, foreclosure |  | 

December 12th, 2009

Three Real-Estate Theories Bringing the Economy Down

Interesting article about current foreclosure crisis:
(http://www.businessinsider.com)
“Clobbered bears are now clinging to three real-estate theories that will bring the economy down:
• Commercial real-estate collapse (worst-kept secret ever)
• Option ARM reset armageddon (some analysts think the chart that scares the hell out of everyone here is misleading and out of date)
(http://www.businessinsider.com/john-carney-chart-of-the-day-monthly-mortgage-rate-resets-2009-9)
(http://www.businessinsider.com/henry-blodget-the-coming-alt-a-mortgage-reset-bomb-is-a-myth-2009-8)
• A delayed wave of foreclosures, thanks to mortgage mods [...]

posted by admin at 6:16 am
No Comments | Categories: Adjustable Rate Mortgage, Dealing with lenders, Foreclosure News, Mortgage help, Short Sale, foreclosure, foreclosure mitigation, loss-mitigation |  | 

December 12th, 2009

U.S. Foreclosures nears the 4 Million Mark

According to RealtyTrac, the U.S. is now reaching the 4 million mark in foreclosure with currently 3.9 million foreclosure notices all ready in motion. That is a whole lot of families/people looking at possibly having to relocate or even become homeless. With the unemployment rate, things are not looking any better either. [...]

posted by admin at 5:54 am
No Comments | Categories: Avoid Foreclosure, California Foreclosure, Dealing with lenders, Florida Foreclosure, Foreclosure News, Illinois Foreclosure, Michigan Foreclosure, RealtyTrac, foreclosure |  | 

December 12th, 2009

South Florida Foreclosures Up 15% In November

Expert from an article Business Insider: http://www.businessinsider.com
“To repossess a South Florida residence, a lender must undertake a lengthy and costly legal process that can take up to a year.
Lenders normally plan for a six month to nine month process that will cost between $40,000 and $80,000 per property. In addition to that, many [...]

posted by admin at 5:37 am
No Comments | Categories: Avoid Foreclosure, Dealing with lenders, Florida Foreclosure, Foreclosure News, foreclosure, foreclosure mitigation |  | 

December 2nd, 2009

A Loan Modification Program can Stop Foreclosure

When you are looking for a way out from foreclosure, look no further than a Loan Modification Program. Many people today are involved in foreclosure or at risk of foreclosure while facing it with a lack of the needed knowledge to stop foreclosure from happening to them. A loan modification program can provide [...]

posted by admin at 4:06 am
No Comments | Categories: Alternatives to suffering Foreclosure, Foreclosure News, Home Mortgage Mitigation, Loan modification specialist, Making Home Affordable, Mortgage help, foreclosure mitigation, loss-mitigation |  | 

December 2nd, 2009

Upside Down Mortgage

The worst possible scenario of foreclosure is that when the borrower owes more than the property is worth, otherwise known as an upside down mortgage. No one in their right mind wants to deal with foreclosure as it is, little lone this situation. Often times, even after a foreclosure the borrower can be [...]

posted by admin at 4:05 am
No Comments | Categories: Alternatives to suffering Foreclosure, Avoid Foreclosure, Dealing with lenders, Foreclosure News, Saving your home from Foreclosure, Underwater Mortgages, federal foreclosure prevention program, foreclosure, laws |  | 

December 2nd, 2009

New York Mortgage Safeguard for Prime Borrowers

Last year New York put in place a law to help protect subprime mortgage borrowers from foreclosure and now they are trying to provide comparable legal safeguards to prime borrowers as well. State legislators passed a bill this month requiring lenders give borrowers a 90-day warning before initiating foreclosure proceedings and requiring that lenders [...]

posted by admin at 4:03 am
No Comments | Categories: Alternatives to suffering Foreclosure, Avoid Foreclosure, Foreclosure News, Mortgage Mitigation, Mortgage help, New York Foreclosure, federal foreclosure prevention program, foreclosure, laws |  | 

December 2nd, 2009

Obama’s Administration Fighting against Foreclosures

Posted today in the Philadelphia Inquirer was Obama’s administration effort to force lenders to aid in the stopping of foreclosures by insisting that lenders do all they can to help borrowers to prevent foreclosures.
This is a portion of the article that can be found in its entirety on The Philadelphia Inquirer. http://www.philly.com/inquirer/business/20091201_Treasury_presses_companies_to_help_prevent_foreclosures.html
“The Treasury [...]

posted by admin at 4:01 am
No Comments | Categories: Alternatives to suffering Foreclosure, Avoid Foreclosure, Foreclosure News, federal foreclosure prevention program, foreclosure |  | 

December 2nd, 2009

Reverend Jesse Jackson helps homeowner save their home

Reverend Jesse Jackson came to the aid of a Toledo homeowner, Kim Bowers in dealing with her lenders to come up with a reasonable solution to foreclosure. In the works is a Toledo program to help prevent foreclosure for homeowners at risk – Save a Home – sponsored by the NAACP. The NAACP [...]

posted by admin at 3:59 am
No Comments | Categories: Alternatives to suffering Foreclosure, Foreclosure News, Ohio Foreclosure, Saving your home from Foreclosure, foreclosure, foreclosure mitigation |  | 

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