Arizona Loan Modification
Posted by admin on Dec 1, 2008
Arizona is among the worst states hit by the housing bust. In fact, according to Realty Trac’s latest report, Arizona ranks second among states with the highest foreclosure rate in October of this year. One in every 149 housing units received a foreclosure filing. Foreclosure filings were reported on 17,507 Arizona properties for the month, an increase of nearly 35 percent from the previous month and up 176 percent from October 2007. With home prices continuing to drop and interest [Read More]
Nevada Loan Modification
Posted by admin on Dec 1, 2008
In many of these United States, more foreclosures are being listed than the number of houses being sold in a month. The western part of the country, especially Nevada, is among the worst to be hit by this statistic. In the third quarter of this year, there was one foreclosure filing for every 61 households in Nevada. That’s up 23 percent from the previous quarter and more than triple the number reported in the third quarter of 2006. For months, this surge in numbers continued. According to [Read More]
Colorado Foreclosure
Posted by admin on Nov 25, 2008
In the recent foreclosure report, Colorado is now the fifth overall of all states in foreclosure. The latest report showed that Colorado has 5,374 properties in foreclosure in September, or one in every 390 households. This is equivalent to a 23 percent increase from the previous month. In the state of Colorado, the foreclosure process is quite different from other states. Colorado foreclosures occur through both in-court and out-of-court proceedings. The most common process is managed by a [Read More]
California Loan Modification
Posted by admin on Nov 24, 2008
The State of California holds the number one spot for the highest number of foreclosed properties. In an effort to stop this trend, the government of California now requires banks and other lending institutions to contact delinquent homeowners 30 days prior to filing Notice of Delinquency to make loan modification mandatory. California Civil Code 2923.6 which was enacted last July 2008, requires Lenders of residential loans in the State of California to accept loan modifications in most [Read More]
How to Slash Your Interest Rate While Converting Your Adjustable Rate to a Fixed Rate and Lower Your Payments
Posted by admin on Nov 24, 2008
Due to the housing boom over the past few years, many Americans have taken advantage of low interest rate mortgages. Most of those same people hoped for even lower interest rates, which lured them pursuing adjustable-rate mortgages. During the times when interest rates were low, those who were under an adjustable-rate mortgage had a significant advantage to those who were not. Low interest rates prevailing in the market means lower payments for them in their monthly mortgages. But as we [Read More]
