Category Archives: foreclosure
Foreclosures increase substantially in state and Richmond area
Virginia had the 15th highest foreclosure rate among the 50 states and the District of Columbia in the first quarter, according to figures released yesterday by RealtyTrac, an online resource of foreclosed properties. One in every 246 households in Virginia — or a total of 13,151 — received notices of default, auction sales and bank [...]
Study says Va. ranked 24th in 2007 foreclosures – News – inRich.com
The foreclosure rate in Virginia remains fast and swift. However, in a nationwide ranking, Virginia ranked right in the middle. I guess that is good news. Study says Va. ranked 24th in 2007 foreclosures – News – inRich.com Hopefully, our ranking will go down with some of the loan modification agreements that the major lenders [...]
Housing 101 a helpful class
From the Dec 30th Richmond Times Dispatch. Housing 101 a helpful class – News – inRich.com From the related in formation file: Worried about foreclosure? Don’t ignore the problem. The further behind you get, the harder it will be to reinstate your loan and the more likely that you will lose your house. Contact [...]
Article: Virginia Foreclosures Rising
In the Dec 23 Richmond Times Dispatch, there was an article entitled: Virginia Foreclosures Rising. Here are a few quotes: The number of foreclosures in Virginia is expected to rise to about 14,000 this year, up from 4,354 in 2006, and could hit 20,000 next year, according to Housing Opportunities Made Equal Inc., a housing [...]
Expensive Mortgages lead to Foreclosure
I have found this article today at another blog: Why mortgages have eaten Americans out of house and home | Wise Bread and thought it would be useful in the discussion on foreclosure. At some point, people stopped calculating what they could afford long-term and started chasing what was just (or substantially) beyond reach, made [...]
Feature: Local Family Postpones Foreclosure.
Monday November 19, Dreams In Distress focused on a Chesterfield family that is facing foreclosure because of their subprime mortgage adjusting. "They are among the estimated 14,000 Virginia households facing foreclosure this year." Their payment adjusted from $1,250 to $1,650, making the house no longer affordable. They are hoping for a loan modification, but there [...]
Governor Kaine Creates Virginia Foreclosure Prevention Task Force
Governor Kaine Creates Virginia Foreclosure Prevention Task Force was a press release issued today. I’m glad that the State is getting involved in Foreclosure Prevention. Nearly 4 out of 5 loans in foreclosure in the state were sub-prime. And there are still many more looming on the horizon. Virginia’s foreclosure process is brutally fast. This [...]
Keeping Your Home Online Course :
There is a new nationwide course, available online and anonymous as well. ‘Keeping Your Home,’ New Online Course Designed to Help Homeowners Nationwide Avoid Foreclosure, Now Available at CCCSInc.org : I have not had any experience with this course, but provide it as a resource to help educate you. Some states have a foreclosure process [...]
Freddie Mac: Avoiding Foreclosure — working with your lender
Freddie Mac has published a resource on how to avoid foreclosure: Freddie Mac: Avoiding Foreclosure . In it, there are some possible options that lenders may give you to work out a way to avoid selling your property.. Some typical options: Depending upon your situation, your mortgage company may be able to provide you with [...]
Tips for Avoiding Foreclosure – HUD
HUD has put out a document for homeowners entitled, Tips for Avoiding Foreclosure – HUD. They are pretty simple Don’t ignore the problem Contact the lender as soon as possible Open and respond to mail from your lender. Know your mortgage rights. Understand foreclosure prevention options. (Selling in one of them) Contact a HUD approved [...]
