It has become so common that it barely shocks even the most sensitive of us, a homeowner has spent months negotiating and waiting on a home modification only to discover that their home has be sold at foreclosure. This is the type of disconnect that is impacting thousands of homeowners in Texas and especially in [...]
North Texas commercial foreclosure filings have increased by more than 60 percent so far this year. Since January nearly 1400 commercial property foreclosure filings have been posted in the Dallas-Fort Worth area alone-compare that to last year's 900 commercial real estate foreclosure filings in the same period. When the commercial real estate foreclosure crisis first [...]
Eighty percent of the approximately 360,000 residential properties reappraised this year will show decreases or no change in value, according to the Dallas Central Appraisal District. This is the second year in a row that the majority of homes in Dallas County have either decreased in value or remained stagnate. Last year 55 percent of [...]
The number of foreclosures filed by homeowner associations (HOAs) and home equity lenders has risen dramatically this year. Already 350 Dallas-Fort Worth area homes are facing foreclosure sale in May because the owners owe money to homeowners associations or home equity lenders. "Especially from the homeowners associations, we have seen significant increases in postings," said [...]
This month the Treasury Department will begin paying mortgage servicers $1,500 for approving the sale of homes for less than the balance of the mortgage, also known as a short sale. Also, if the mortgage servicer modifies a mortgage under the HAMP program, they will receive $1,000, plus additional money over the course of three [...]
A group of angry homeowners told a Texas House panel they've been threatened with huge fines and possible foreclosure for what they described as minor infractions of association rules. A Houston couple may wind up having to pay more than $20,000 after a feud over a $50 ticket for having gray - instead of black [...]
Now that many Americans are desperately struggling with debt, there has been a brand new crop of debt and wealth "gurus" who are imparting advice that may not be the best thing for many Americans struggling with debt troubles and considering bankruptcy. One of the most often repeated pieces of advice for homeowners is the [...]
The HAMP foreclosure prevention program is suppose to help four million homeowners facing foreclosure; but the program is far from reaching its goal. The second wave of foreclosures is already upon us and the HAMP foreclosure prevention program is failing to make major progress in convincing lenders to modify toxic mortgages. The Treasury reported recently [...]
Last year we talked about how the (now failed) HAMP program and various foreclosure moratoriums were the only thing standing between homeowners and a second wave of foreclosures. Well, the time has come and that second wave of foreclosures is now upon us. Just in the first three months of 2010 more homes were lost [...]
David Bagwell, a Colleyville luxury home developer has placed the partnerships that own three of his subdivisions into Chapter 7 bankruptcy so that he can avoid foreclosure on the undeveloped land. The group of creditors who hold the debt for the partnerships called Old Grove Ltd, Broughton Ltd. and Broadland Ltd., demanded payment from Bagwell, [...]
