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5 result(s) displayed (1 - 5):

April 26, 2011

ForeclosureGate

ForeclosureGate is the latest term being used to describe the mortgage fiasco. In recent weeks, numerous reports have surfaced claiming banks are responsible for the chaos and that things will only get worse for American homeowners.

ForeclosureGate seems an appropriate term considering the level of cover-up, lies and deceit which are being brought to light. An investigation into the mortgage debacle began in October 2010 after Attorney Generals from all 50 states demanded answers.

Last week, the Office of the Comptroller of the Currency, along with the Federal Reserve completed their investigation. The report claims over $535 billion in real estate mortgages may require foreclosure review due to fraudulent loan documents.

Real Estate Investing article on "ForeclosureGate"

November 23, 2009

Real Estate Forbearance

Real estate forbearance agreements are used when mortgage borrowers become delinquent with home loan payments. In order to qualify for loan forbearance, homeowners must possess the financial ability to make future payments and work with a bank loss mitigator to devise a repayment plan to cure mortgage arrearages.

When real estate forbearance agreements are issued the mortgage lender agrees not to initiate foreclosure proceedings as long as the borrower complies with payments terms. Mortgage forbearance repayment plans typically extend between three and twelve months.

Real Estate Investing article on "Real Estate Forbearance"

June 30, 2009

Loss Mitigator

A loss mitigator refers to an individual who specializes in helping homeowners who have become delinquent on their mortgage note. Loss mitigators either work as an employee of the bank; independent representative for the lender; or an agent who represents the homeowner.

The primary roll of a loss mitigator is to develop a plan allowing borrowers to remain in their home. The most common option offered is a loan modification. When mortgage loans are modified, terms are permanently altered. In some cases, borrowers end up paying a higher mortgage payment in order to cure arrearages

Real Estate Investing article on "Loss Mitigator"

June 19, 2009

Prevent Foreclosure

Prevent foreclosure is on the minds of many Americans. The foreclosure crisis is causing unsettling economic turmoil. Every community in the United States is affected in some manner. Housing prices are rapidly falling. People owe more on their mortgage than their house is worth. It's not a good situation.

There are many reasons to prevent foreclosure. The most obvious is no one wants to be homeless. Another major factor is foreclosure wreaks havoc on your credit history. It can take years to recover from the financial fallout.

Real Estate Investing article on "Prevent Foreclosure"

September 10, 2008

Foreclosure

Foreclosure rates are skyrocketing and millions of Americans are facing the very real possibility of losing their home. Many homeowners are choosing to walk away from their house because they can no longer afford to pay high-interest mortgage notes on real estate which is now worth less than it was when they purchased it.

Foreclosure is also affecting numerous unsuspecting tenants. Oftentimes, homeowners rent their distressed property in hopes of being able to retain their property. If they end up losing their home to foreclosure, tenants are forced to move and generally end up losing their security deposit and advanced rent monies.

Real Estate Investing article on "Foreclosure"