Foreclosure properties, especially those with the water and power turned off, may not qualify for standard financing, but would-be owner-occupants may qualify for a federally insured 203(k) loan. Would-be owner-occupants who do not have enough money to purchase a foreclosure home using cash, may qualify for the federally insured 203(k) loan, which allows borrowers [...]
Missed mortgage payments, short sales, and foreclosures can all drastically bring down a credit score. Lenders use credit scores to measure how well a person handles debt. Credit scores range from 300 to 850, with 650 and below considered poor credit. A mortgage makes up a big part of a person’s credit score and [...]
A couple is accusing banking giant Chase of locking them out of their home and removing their personal property before a foreclosure was finalized. Banks across the country have faced similar accusations. Lenders have argued they have the right to “secure” vacant properties they’ll soon own, but lawyers say it’s trespassing or breaking and entering [...]
Are you facing foreclosure? Has someone advised you to do a short sale in lieu of foreclosure? Well, be careful, there could be a lot of problems down the road for you if you took out an equity loan to pay off debts or buy goods such as a car, boat, furniture or other such [...]
The team from ABC’s heartwarming and popular reality series “Extreme Makeover: Home Edition” may give worthy families a whole new house. But yet another family who appeared on the show learned that they don’t guarantee you’ll keep that house forever. The Wofford family of Encinitas, California, got their house from the show five years ago, [...]
Outraged neighbors ratted on a Wells Fargo & Co. employee who threw lavish parties at a foreclosed home in pricey Malibu, Calif. The bank said Monday that the employee had been fired. The Los Angeles Times first reported earlier that 39 year old Cheronda Guyton, a Wells Fargo senior vice president responsible for foreclosed commercial [...]
With one in every 62 housing units receiving a foreclosure filing in August, Nevada continued to document the nation’s highest state foreclosure rate despite an 8 percent decrease in foreclosure activity from the previous month. A total of 17,902 Nevada properties received a foreclosure filing during the month, still an increase of 53 percent from [...]
After seeing some homes that have been foreclosed on, I think this is a great idea. Bait the homes so if thieves want to vandalize a home, they’ll get caught. The biggest problem seems to be that some owners of foreclosed homes are the guilty ones. They trash the place, taking dishwashers, stoves, microwaves, cabinets [...]
Statistics suggest some improvement in the housing market, but the good news for homeowners might be just a temporary setback for real estate investors searching for a good deal. Decreases in the number of foreclosure filings in each state and increases in prices in many of those same states seem to suggest good news, although [...]
Smart investors are continuing to take advantage of the present foreclosure market. I don’t have an exact figure of how many foreclosures there are in Nevada County, but I just had one of my investors open escrow on two foreclosed homes in Nevada County. With some existing home prices under $200,000 in the county, there [...]
