Ask About Foreclosures

Lord includes many anecdotal stories of people who owned their homes and then were systematically stripped of their equity as they refinanced. It’s easy to shirk off the troubles of those who refinance due to mega credit card debt, and then simply max out those cards again and again. But some of the stories here are just wicked. Lord explains that subprime lending strategy is “Target, Trick, and Trap.” Subprime lenders are not upfront with closing costs, hidden fees, and percentage rates. They offer pleasant terms, lure the borrower in, and then lower the boom with the real figures at closing. In several instances, mortgage companies grossly exaggerated the buyer’s income, or the value of the house in order to secure the loan and didn’t mention a little balloon payment of $50,000 due in a few years. Lord’s examples include people who owned their homes free and clear and then were approached by contractors who received kickbacks from mortgage companies for arranging loans. This work is often outrageously priced, never completed, and the homeowner is left with a house that cannot be sold, and with payments that cannot be met. -

Moody housing foreclosure set - Valdosta Daily Times
VALDOSTA Months of hard work, millions of dollars in materials, thousands of man hours, and nearly two years of waiting for an answer on why they were never paid by Carabetta Construction on the Magnolia Grove Moody Family Housing project ended
Source: www.valdostadailytimes.com

Timeline of Major Events in O.J. Simpson Cases - FOX News
Oct. 3: O.J. Simpson’s booking photo at the Clark County Detention Center after being found guilty on all charges in his kidnapping and robbery case. Oct. 3: O.J. Simpson’s booking photo at the Clark County Detention Center after being found guilty
Source: www.foxnews.com

Foreclosure filing stats show Valley isn’t immune to poor economy - McAllen Monitor
The number of homeowners facing foreclosure rose dramatically in recent months in Hidalgo County, according to statistics released Friday. More than 8 percent of homeowners with loans in the county entered foreclosure proceedings in the past 18
Source: www.themonitor.com

Mortgage battler, 90, attempts suicide - News.com.au
A 90-YEAR-OLD woman, facing eviction from the Ohio home she has lived in for 38 years, shot and wounded herself this week, becoming a grim symbol of the US home mortgage crisis. Addie Polk was found lying on the floor of her home with what appeared
Source: www.news.com.au

Long Thompson presents foreclosure plan - Chicago Tribune
INDIANAPOLIS - Democratic governor’s candidate Jill Long Thompson announced proposals Wednesday designed to help families avoid home foreclosures, including required mediations between borrowers and lenders. She accused Republican Gov. Mitch Daniels
Source: www.chicagotribune.com

Akron woman’s foreclosure gets U.S. response - Akron Beacon Journal
It was Dillon who climbed through a window of Polk’s LaCroix Avenue home and found the widow lying in bed bleeding. A small-caliber gun was next to her. ‘’She said it was a crazy thing to do, now that she’s had time to think about it,'’ said Dillon
Source: www.ohio.com

This is a subject dear to the hearts of many people in the Houston area and Texas as a whole. Although decreasing, foreclosures still are occurring with an alarming frequency in this area. The reader is lead through the sequence of what happens when someone goes through a foreclosure. This starts with the first time you stop making mortgage payments through to the foreclosure sale and beyond; including the legal consequences after it is all over. The book isn’t just a simple explanation of how to endure a foreclosure, though. It also offers ways to avoid a foreclosure, such as working with your lender, looking for help from the government, or getting help form the legal system. It details the steps the lender will be taking at the same time to foreclose upon you. To make the book complete, it even has a chapter on how you can buy foreclosed upon property. This book is worth a read for any homeowner. Most home owners are unaware of the secrets that lie hidden in the foreclosure process, knowldege that this book claims would allow most anyone facing the loss of their home not only to live rent free but also to avoid foreclosure altogether. Furthermore, whether you own a house, townhouse, farm, or business property, Porter alleges that profit can be made from a foreclosure situation! While it is difficult to know if these methods work, financially endangered persons will want to read this guide. At the very least, they will learn how every home buyer today is at the mercy of the creditor the loan institution and how banks illegally “create” money by lending out their credit. Interesting appendixes offer further explication of state foreclosure laws, various federal resources, and amortized loans. -

JPMorgan, CACEIS Win Private Equity Administration Outsourcing Survey
French securities services specialist CACEIS and global custodian bank JPMorgan have emerged as the leading providers of administration services to private equity funds, according to Global Custodian magazine's 2008 Private Equity Fund Administration Survey. (PRWeb Sep 26, 2008) Read the full story at http://www.prweb.com/releases/global-custodian/pefa_survey_results/prweb1386294.htm
Source: www.prweb.com

Post Office Currency Sales Remain Stable in Face of Economic Downturn
After a volatile week for the travel industry, which saw the collapse of the UK's third largest travel company XL and growing uncertainty in world economies, this week's currency sales for the Post Office® reveal that there has been no sign yet of a downturn in demand. (PRWeb Sep 24, 2008) Read the full story at http://www.prweb.com/releases/2008/09/prweb1369054.htm
Source: www.prweb.com

PPI Insurers Need to do More for People Renting and in Shared Ownership
Payment Protection insurers must offer policies that provide a financial safety net and meet the monthly commitments of all householders, whether they're renting, in shared ownership schemes or have mortgages, says PPI lobbyist Sara-Ann Burgess from Burgesses. (PRWeb Sep 29, 2008) Read the full story at http://www.prweb.com/releases/ppi/cover/prweb1380184.htm
Source: www.prweb.com

I’ve read about 6 books on real estate bought from Amazon, and I have to say that this one is the most oversimplified. It is like reading one of those “pocket MBA” books, which just tells you terms and procedures. Don’t expect to read this book and be able to transact “foreclosed and bargain homes”. It is far from that! For instance, the chapters on how to identify and find a “bargain” home comes down to this: look it up at a bank, MLS, or internet. Heck! I could have told you that for free! Given that that is the most important step, I was really disappointed with this book. Don’t waste your money…If you want to buy an overview or basics book on home buying I sugget the “Unofficial Guide to Buying a Home” which is much more detailed and straightforward about buying a home. And it covers in better details what are the pitfalls of buying a bargain home. The review stating this book is confusing in places is right on the money. I’m a second year medical student and still had to draw out diagrams and read some pages several times. The author is in Real Estate, not writing. That being said, there is a good deal to be learned here. I’ve read several “High Energy” Real Estate books that gloss over the potential difficulties to investing, but this book HIGHLIGHTS them and steers you clear. The recommendations about “Deed In Lieu of Foreclosure” and REOs are terrific. I would recommend this book simply on the merit of a realistic outlook to Real Estate investing. -

Fed stands pat, sending shaky markets retreating - International Herald Tribune
WASHINGTON : The Federal Reserve kept U.S. interest rates steady Tuesday, despite pressures from shaky financial markets to ease borrowing costs to help reduce the risk of greater turmoil on Wall Street. Fed policy makers faced one of their more
Source: www.iht.com

Homebuilder Sentiment Rises for First Time in 7 Months - CNBC
U.S. home builder sentiment rose for the first time in seven months in September, inching off a record low, as falling mortgage rates and an array of factors buoyed confidence, an industry group said on Tuesday. The National Association of Home
Source: www.cnbc.com

Gov’t names chairmen at Fannie Mae, Freddie Mac - Boston Globe
WASHINGTON The federal government has named chairmen to oversee mortgage finance companies Fannie Mae and Freddie Mac , which were seized earlier this month. The Federal Housing Finance Agency said Tuesday it named John Koskinen as Freddie Mac’s
Source: www.boston.com

Changing the Subject From Sarah Palin to Wall Street - US News and World Report
Wall Street’s Monday lurch has wiped Alaska Gov. Sarah Palin off the front pages. That’s probably a good thing for Palin as her former press secretary made the loony claim that ” Obama operatives” have “hijacked” for political purposes the Alaska
Source: www.usnews.com