Archive for July, 2009

US Home Foreclosure Hit Record High

Thursday, July 23rd, 2009

Bloomberg News new recently published an article about home foreclosures continuing to soar even three years after this foreclosure crisis began.  Watch this YouTube video with an interview and discussion with Rick Sharga of the Realty Trac. He talks about the 1.5 million record high foreclosure numbers. Are loan modifications helping or just delaying the [...]

Massachusetts Homeowners Behind on Mortgages

Thursday, July 23rd, 2009

Massachusetts foreclosure petitions in June jumped to 2,835 – more than eight times higher than the 350 petitions in June 2008 and 21.7% higher than the 2,329 filings in May, said the Warren Group, which added that the number of petitions to foreclose in June was the highest it’s been in the previous 13 months.  [...]

Considerations for Home Loan Modification Programs

Thursday, July 23rd, 2009

Let’s be honest… There can be no denying the fact that the US government is not in favor of forcing homeowners out of their homes, even when they are in home loan default and facing foreclosure. Legislative bodies in Washington, Fannie Mae and Freddie Mac, have taken action with home loan modifications to stem the foreclosure crisis [...]

Why Home Foreclosures Rates Continue to Rise

Tuesday, July 21st, 2009

1.    Unemployment: Celia Chen, an economist at Moody’s said, the erosion of the labor market–the unemployment rate recently hit 9.5 percent–is the key factor in the rise of home foreclosures, says “Employers continue to shed jobs, and that makes it difficult for even people with good credit who were doing fine to keep up [...]