According to an article in the
Washington Post, reports are showing the market has potentially balanced, and several pundits anticipate home prices to begin their journey up once again.
Ken Wenhold, director of Metrostudy’s mid-Atlantic region, says he’s expecting significant – more than 10-percent – year-over-year increases in resale prices to begin this fall.
A report base…
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Added by HUD Foreclosed on August 13, 2009 at 4:27pm —
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FreddieMac wants to sell you a home. A foreclosed home, to be exact. And they’re willing to sweeten the deal by covering your closing costs, up to 3.5 percent of the sales price. That means a savings of over $5,000 if you were to buy a $150,000 home!
They call it "Smart Buy
…
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Added by HUD Foreclosed on August 13, 2009 at 4:00pm —
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Over 30 years ago, this 251-room hotel was the epicenter of the
largest political scandal to rock our nation. In fact, almost exactly 30 years ago, President Richard Nixon was forced to resign his presidency as a result of the ensuing backlash. To this date, every political scandal in the U.S. has immediately been linked to the Watergate by the suffix –gate. Many years after Nixon's time, it was Monica Lewinsky and her alle…
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Added by HUD Foreclosed on August 13, 2009 at 2:30pm —
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Tuesday, 08/11/2009 @ 6:00 p.m CST.
Northwoods National Bank, 1255 Lincoln Street, Rhinelander, Wisconsin, 54501
Northwoods National Bank is holding a seminar for first-time homebuyers. If you have not owned a primary residence in the past three years, go see what financing options are available to you.
If you are considering buying a home, but are hesitant, go see what Northwoods can do for you. Special programs are available to qualified borrowers with limited down payment. Now is the time f…
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Added by HUD Foreclosed on July 29, 2009 at 4:30pm —
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Arizona is apparently revoking some homeowners’ foreclosure protections. Take a look:
"One of the reasons it’s so easy to walk away from the debt you owe on a home is that the lenders in many states are precluded from coming after you for any loss that they suffer when they foreclose and resell the home. It’s called anti-deficiency protection and to a lot of peoples’ surprise the Arizona legislature revoked the protection for certain buyers.
"The new law stipulates that anyone that doesn’t occ…
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Added by HUD Foreclosed on July 28, 2009 at 3:00pm —
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Foreclosures are more common these days, finding a foreclosed property to buy has become a lot easier than it was during the housing bubble. When home prices were increasing in the double digits annually and anyone could qualify for a mortgage , the supply of foreclosed homes was low.
Now the the housing bust has arrived in full force, the supply of California foreclosures, Florida foreclosures and Texas foreclosures has gone through the roof. Foreclosures in other states are not that plentiful…
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Added by HUD Foreclosed on June 24, 2009 at 4:00pm —
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Self-employment is becoming increasingly popular. Statistics show that more and more people are choosing to be self-employed in recent times. Being self-employed has its benefits, but it also comes with its own problems.
Let us suppose that you are self employed and want to buy a home. Keeping in mind that self-employed individuals do not generally have a fixed source of income, you may find that lenders are unwilling to cut a mortgage deal with you. After all, a lender who does business with y…
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Added by HUD Foreclosed on June 8, 2009 at 1:30pm —
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In an upcoming release, which should be rolled out later this week, members will gain the oft-requested ability to decide who can view their profile page, and, in honor of Jan. 20's events, you'll have access to five new style themes!
With this release, each of you will have the flexibility to decide who can view your profile page. You will have the ability to choose between allowing any person visiting the network to see your profile page or limiting access to network members or network contac…
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Added by HUD Foreclosed on January 21, 2009 at 3:00pm —
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Are you a "project person?" Love all those "HGTV" shows? Want to start investing in real estate? If you've answered "yes" to these questions, this offer may be right for you.
CNN Money verifies what HUDForeclosed already knew. Foreclosure properties are selling dirt-cheap and even when you've factored in all the costs of renovation, these properties are amazing deals.
Here's an excerpt from their recent article, describing the benefits of investing in "fixer-upper" foreclosure homes:…
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Added by HUD Foreclosed on January 9, 2009 at 5:00pm —
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A report released by the Mortgage Bankers Association on Friday, 12/5/2008 announced that the foreclosure levels are decreasing at a lower rate. A steadying foreclosure rate could mean that it's now safer than ever to invest in foreclosure real estate.
It may be time to move in and purchase your dream home, before the market skyrockets again. Imagine the amount of equity you will make when it does! You can read the report here, or on the Association's…
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Added by HUD Foreclosed on December 8, 2008 at 11:00am —
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I found this heart-warming story newsworthy.
A woman randomly encountered a distressed property owner at a mass auction, just after purchasing someone's foreclosure home for her son, turned around when the owner's home was at auction, and purchased it too... but not for herself. The homeowner is being allowed to keep her home and the buyer is renegotiating rent-to-own terms!
I got a warm, fuzzy feeling just reading about it. Imagine the kind of great feeling you could get from buying someone's…
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Added by HUD Foreclosed on October 28, 2008 at 9:00am —
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Currently, individuals cannot have their mortgage debt forgiven on a primary mortgage through bankruptcy, though there are certain cases, such as in the case of a second or third mortgage, where you can have some of your overall debt forgiven to help you catch up with your primary mortgage and save your home - at a cost. Your credit could be badly damaged for up to seven years.
Particularly interesting is that according to the Herald's article, Obama's election during the current foreclosure cr…
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Added by HUD Foreclosed on October 22, 2008 at 9:30am —
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Now you can add applications to your profile!
There are some very cool features you can add to your profile immediately, including 'Status' which is available on the first page of the applications. This lets you type in your current 'status' just like you do on Facebook or MySpace. And you can also add RSS feeds of your status you post elsewhere, including Twitter and Facebook!
The new 'Alerts' link in the right-hand control panel will let you know when others have updated select applications.…
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Added by HUD Foreclosed on October 17, 2008 at 10:30am —
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About the WorkshopThe PMI Group, a Mortgage insurance provider is providing a "Homeownership Preservation Workshop" for Chicago Homeowners on Saturday, October 25 between 9am and 2pm. The goal of the workshop is to help homeowners facing foreclosure or close to entering default refinance their existing loans into more manageable ones. See the included article for the address and RSVP information.
It is very important to seek help when you find yourself in foreclosure or clos…
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Added by HUD Foreclosed on October 17, 2008 at 8:30am —
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The overflow of foreclosure inventory has made some companies desperate to unload their inventory, which is great news for buyers.
A few months ago, a San Diego company offered a buy one, get one free deal on area properties. More recently, an individual
purchased a fixer-upper home for only $1.
The latest addition to this list of unusual o…
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Added by HUD Foreclosed on October 15, 2008 at 2:00pm —
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Housing slump got you down? Can't afford the cost of land in urban areas, such as Atlanta, GA and San Fransisco, CA? Dystopic Horizons Realty offers low-cost housing solution to help people with the growing cost of square footage - cardboard chateaus.
This comical, yet relevant article is an exemplary presentation of the ironies of home affordability during and after the real estate market peak.
…
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Added by HUD Foreclosed on October 6, 2008 at 11:00am —
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One of the largest problems of mass foreclosure is that abandoned homes become damaged the longer they remain unoccupied, leaving whole neighborhoods and cities in ruin and lowering the value of remaining homeowners' property.
Florida has petitioned to the Federal Government for help in dealing with this issue. The Government has responded by granting Florida a large sum to repair its foreclosure properties.
Interestingly, the State wants to sell repaired foreclosure homes to home buyers with…
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Added by HUD Foreclosed on September 29, 2008 at 11:00am —
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Myrna Mosnowitz has done
everything right in her Condominium ownership. She has paid off her mortgage, has never missed tax or condo fee payments, and maintains a sizable insurance policy. Yet, Mosnotwitz may be severely impacted by the current real estate market because of the tenants around her who are entering foreclosure; she may even lose her home, as a result.
Due to a growing number of foreclosure in Mosnowitz' condominium, the association that manages her building are more than…
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Added by HUD Foreclosed on September 25, 2008 at 10:00am —
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Meadow Woods community, the site of recent, new development in Vacaville California, will undergo a one-day close-out auction scheduled for Sunday, October 12, 2008.
I posted this article for two reasons. First of all, what an excellent opportunity it might be for those interested in California real estate! Beyond that, I felt this article is particularly important because it evidences the existence of a buyer's market; buyers can now obtain great prices for real estate that a few years ago wou…
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Added by HUD Foreclosed on September 23, 2008 at 4:00pm —
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I thought the following information would be useful in your search for a lending institution. The following article lays out five helpful suggestions you can apply to your own search for a lender. The viewpoint is particularly interesting because it comes from the perspective of an agent, who
would be intimately familiar with lending.
By taking the preemptive approach outlined here-in, you might make the buying process easier on yourself. For example, the second tip advises you to work…
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Added by HUD Foreclosed on September 17, 2008 at 11:30am —
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