From the category archives:

Avoid Foreclosure

Properties In Distress Are Selling For An Average 27 Percent Discount

Distressed sales are increasing as foreclosures and repossessions mount, accounting for 50% or more of all sales in Nevada, California and Arizona. The selling price for distressed properties averages 27 percent below other real estate, with the deepest discounts in Ohio, Kentucky and Illinois. Distressed property in the foreclosure process in the US is selling [...]

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Fannie Mae Getting Tough on Home ‘Walkaways’

Taking aim at homeowners who are able to pay their mortgage but decide it’s not worth it, Fannie Mae plans to go after them in court and to limit their access to home loans for seven years. The government-controlled mortgage giant said that it would instruct the companies servicing its loans to recommend when it [...]

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Struggling Homeowners Find Help Outside Obama Program

More borrowers dropped out of the Obama administration’s foreclosure prevention program last month than were added, but many of those homeowners found private help from their mortgage companies, according to recently released data. The number of mortgages with permanently reduced payments under the Home Affordable Modification Program increased 15% in May 2010 to 340,459. The [...]

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More Dallas-area homeowners were late on mortgages in April

The number of Dallas-area homeowners with late mortgage payments hit a record again in April. The 6.3 percent of home mortgage holders who were three months or more behind in their payments in April was up two percentage points from a year earlier, according to researchers at CoreLogic Inc. That’s higher than the Texas 90-day [...]

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‘Upside-down’ home foreclosures growing in Dallas-Fort Worth

A growing number of Dallas-Fort Worth homeowners who are losing their homes to foreclosure owe more than the property is worth. More than 20 percent of foreclosure postings in D-FW in the first half of the year were for homes with more debt than the appraised tax value, according to a study by Foreclosure Listing [...]

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New Loan Modification for the Unemployed

I have good news for some you who have experienced a job loss and are behind on your mortgage payments or soon will be. As part of the new Home Affordable Modification Program (HAMP), that the government released April 5, 2010, they are now adding another arm called The Home Affordable Unemployment Program (UP). [...]

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Dallas-area HOAs post homes for foreclosure

By STEVE BROWN / The Dallas Morning News A growing number of North Texas home foreclosure filings have nothing to do with the usual late mortgage payments. About 350 Dallas-Fort Worth area homes are facing a forced sale because the owners owe money to homeowners associations or home equity loan holders, local foreclosure filings show. [...]

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Distressed Property Institute Produces HAFA Resource Video, Helps Homeowners Understand New Foreclosure Alternatives

April 21, 2010—The Distressed Property Institute, LLC recently released a video tutorial for homeowners, explaining the new short sale and deed-in-lieu processes created by the Home Affordable Foreclosure Alternatives Program (HAFA). “What in the World is HAFA” incorporates the timelines, benefits, incentives and best practices outlined by the new program released by Making Home [...]

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Dallas-Fort Worth Foreclosures Took A Step Back in 2009

Dallas-Fort Worth area home foreclosures for 2009 fell to their lowest level in three years. But the almost 12 percent drop doesn't mean that fewer North Texans are threatened with losing their homes. Indeed, the number of D-FW homeowners with a loan in default is at a record high, and foreclosure filings continue to grow. Actual [...]

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More Texans falling behind on mortgages

More than one in 10 Texas homeowners with loans are behind in their payments. But the number of homes in foreclosure in the state still fell slightly in the fourth quarter of 2009, according to the latest study by the Mortgage Bankers Association. At the end of last year, 10.3 percent of Texas home mortgage [...]

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