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Homeowners Facing Foreclosure
- 1 out of every 200 homes will be foreclosed upon. – Mortgage Bankers Association
- Every three months, 250,000 new families enter into foreclosure. – Mortgage Bankers Association
- One child in every classroom in America is at risk of losing his/her home because their parents are unable to pay their mortgage. – Based on information from the Mortgage Bankers Association
- A slower real estate market can translate into falling prices and home values. As a result, homeowners who opted for adjustable rate mortgages may now find that as their mortgage rate adjusts higher, their home value is lower and therefore refinancing is no longer an option.
- Six in 10 homeowners wish they understood the terms and details of their mortgage better. – Freddie Mac/Roper poll of 2,031 U.S. homeowners, conducted 2005.
- More than 6 in 10 homeowners delinquent in their mortgage payments are not aware of services that mortgage lenders can offer to individuals having trouble with their mortgage. – Freddie Mac/Roper poll of 2,031 U.S. homeowners, conducted 2005.
Real Estate In The News
Filed under: Advice, Financing, CreditGetting a mortgage is challenging enough -- with strict underwriting requiring detailed explanations, sourcing … [Read More...]
The rate of suspicious activity surrounding short sales—including financial fraud and vandalism—has been rising, according to... Daily … [Read More...]
Filed under: News, Selling By Stephanie Auwerter Q: I bought a timeshare in 2004 for $ 27,500 and sold it for $ 7,500 in 2013. Will I be allowed … [Read More...]
Property Investment Blog
Would you like to increase your monthly income by $ 5,000 or more or create residual income that will fill your bank account month after month, year after year? If so listen up because I'm about to make you an offer you can't refuse! My name is … [Read More...]
In the process of selling my personal home. Everything Harry M. said is exactly true. If I had it to do over again, I'd start with my local REIA. BiggerPockets Forums … [Read More...]
Here's a reference. A lease longer than three years (I incorrectly stated three years or longer above) triggers the due on sale. Any lease/option triggers the due on sale clause. http://law.justia.com/cfr/title12/12-188.8.131.52.184.108.40.206.html (b) … [Read More...]
More Raleigh NC Foreclosure Stats
- - 50 plus percent from the employees at present danger falling behind on the mortgages once they miss just one paycheck.
- - Over 40 % of households can't conserve a three month emergency fund, and simply about 50 % get access to lots far more than $5000 in liquid assets in the course of an urgent scenario.
- - The most standard reason behind foreclosure is job loss, health crisis and debt.
- - Statistics indicate that every four out of 5 persons knowledge no less than 6 months or even more of unemployment throughout their lives due to some form of illness or disability.
- - A minimum of a single child from every single classroom in the US reaches opportunity of becoming homeless, simply simply because their parents may well be facing foreclosure sooner or later of one's time.
- - Most of lenders lose money on foreclosures, with regular losses ranging amongst 20 cents to six cents on every dollar. A lender or maybe a mortgage holder prefer to gladly use the present homeowner whenever we are able to.