More than 5.7 percent of Dallas-Fort Worth homeowners are more than 90 days delinquent on their mortgage and facing a possible foreclosure. Plus, another 1.41 percent of Dallas-Fort Worth homeowners are already in foreclosure. The irony of this is that we are constantly being told that the recession is clearing and that things are getting [...]
Should You Short Sale or File Bankruptcy? When facing foreclosure , a homeowner who can no longer afford his/her home is faced with many difficult decisions. One of the most important decisions will be whether the homeowner should do a short sale or file bankruptcy. Here are a few questions you should ask yourself when [...]
When the foreclosure crisis first began, there was a lot of finger pointing mostly at the supposedly "irresponsible" homeowners who "bought too much house" in a quest to keep up with the Joneses. We were even treated to televised rants about how "good people" shouldn't be forced to pay for their bad neighbors' financial decisions [...]
What good is it to modify a mortgage, only to owe three times what the house is actually worth? Well for many homeowners facing foreclosure, it's just not worth the paper the modification is written on. For them, foreclosure looks better than the false hope of mortgage modifications that don't truly-well, modify the mortgage. The [...]
The Federal Housing Administration (FHA) has been hit pretty hard by the foreclosure crisis. The agency, which insures 30 percent of new loans in the U.S. against default, has suffered heavy losses due to a high rate of foreclosures. More than 18 percent of FHA loans are at least delinquent by 30 days. That's more [...]
The Dallas-Fort Worth area is experiencing the highest vacancy rates for its apartment communities in about 20 years. Only 88.8 percent of Dallas-Fort Worth apartments were rented in 2009, compared to 91.6 percent rented in 2008, which could spell imminent foreclosure for many landlords. You might suspect that homeowners who suffered foreclosure would move into [...]
Could your neighbor's foreclosure affect your ability to resell you home even though you are not personally facing foreclosure? Maybe. Many homeowners are finding that the large amounts of foreclosures in their neighborhood are having an indirect affect on their ability to resell their home at a profitable price or to break even. When a [...]
Is this real or just more "hot air"? The Treasury Department claims that is ready to send in the police if mortgage servicers don't shape up and help stop more foreclosures. Well not exactly the POLICE, more like the financial police. The Treasury Department announced that they might send in financial "SWAT" teams to police [...]
There were 2,431 Dallas-Fort Worth commercial real estate foreclosures in 2009, that's up from 1,900 commercial foreclosures in 2008. The biggest rise in commercial foreclosure filings in 2009 was in postings for office - up 121 percent - and retail buildings, up 20 percent. Foreclosure filings for commercial land also increased by 71 percent compared [...]
Well it's official, according to the latest pundits and economists, the recession is behind us and we're well on our way to another boom. But of course they aren't basing this assessment on the reality faced by ordinary Americans; but on the fact that the banks are doing better, filling their pockets and many are [...]