According to an article in the Dallas Morning News President Barack Obama urged families to take advantage of low mortgage rates by refinancing their home loans. The article quoted the President: "The main message we want to send today is there are 7 to 9 million people across the country who right now could be [...]
According to an article in the Star-Telegram, the Obama administration plans a major crackdown on scams targeting homeowners facing foreclosure. The article said: As part of the new enforcement effort, the Treasury Department's Financial Crimes Enforcement Network will provide an advisory to financial institutions to help them spot and report questionable loan-modification schemes. "What today's [...]
According to an article in the Dallas Morning News, new home sales in the Dallas-Fort Worth area have fallen 40 percent in the first quarter of 2009. Only 4,200 new home sales were recorded in the first quarter, the lowest number of new homes sold in North Texas in more than a decade. Many potential [...]
According to an article in the Star-Telegram, foreclosed homes and commercial buildings in the Dallas-Fort Worth area are remaining vacant for a lot longer which may cause a rise in crime. The article said: "One of the worst things you can have in your neighborhood is a boarded-up building," said Brandon Bennett, director of Fort [...]
In February of 2009, personal bankruptcies experienced their biggest year-over-year jump - 37 percent - since the 2005 bankruptcy law changes. With the economy on the downward trend and many Americans overleveraged with unaffordable debt, bankruptcy is looking like the only way they can put their debts behind them and gain a fresh financial start. [...]
According to an article in the Dallas Morning News, the number of Dallas-Fort Worth commercial properties facing foreclosure rose by 14 percent during the first four months of 2009 compared with the same period of time last year. The article said: So far in 2009, 658 commercial properties have been posted for foreclosure in the [...]
According to an article in the Dallas Morning News, office leasing in the Dallas-Fort Worth area has declined by almost 800,000 square feet in the first quarter of 2009. It's the first large drop in commercial real estate leasing Dallas-Fort Worth has experienced in six years. Many companies are facing slowing sales and the prospect of [...]
According to an article in Biz Journals , despite national efforts and programs designed to stem the tide of foreclosures, Dallas-Fort Worth's foreclosure postings rose 27 percent this month compared to last year. Basically, our voluntary foreclosure-prevention plans are not working as many had hoped they would. Foreclosures continue to rise in Dallas-Fort Worth and [...]
As the economy continues to sour many Senior Citizens are finding themselves facing foreclosure. A job loss and/or medical debt is usually the main reason homeowners face foreclosure ; but in the case of Senior Citizens, devaluation of their retirement savings is leaving many short on cash and without enough income to even pay the [...]
According to an article in the Dallas Morning News, one of downtown Dallas' largest office skyscrapers is facing foreclosure . The article said: The 52-story Elm Place tower at 1401 Elm St. has been posted for forced sale by lenders who are owed more than $22 million for the office tower and other downtown properties. [...]