e.g. Miami or Miami-Dade or Florida or 33132
The financial crisis that is engulfing the market today is largely due to home foreclosures. Residential houses have been slipping into foreclosure by the thousands. As yet commercial foreclosures have not hit the scene in a big way, although alarming trends in the commercial foreclosures are beginning to surface.
Of the home foreclosures, the majority is coming from the sub-prime mortgages that have failed. The sub-prime mortgages were launched so that those who could not qualify for the conventional prime mortgages would get a chance to own a house – this being the great American dream. But due to greed and gross mismanagement the dream has now become a nightmare that is affecting not only the housing market but also all aspects of the country’s socio-economic scenario.
The phenomenal rise in home foreclosures were because the borrowers could not manage the hike in floating interests. This was not surprising as the brokers peddled the sub-prime loans without taking into consideration the income level and credit scores of the borrowers. Also at fault were the investors who purchased blocks of houses being lured in by the phenomena of rising real estate prices during the bubble. When the bubble burst the value of the properties fell below the loan amount causing the borrowers to walk away. Home foreclosures mounted and dominated the stage causing untold misery.
The chain reaction is being felt globally. The sub-prime mortgages were bundled into packets, sliced and sold as investment securities to sundry purchasers across the world. But with the collapse of the value of the houses there is mayhem that is causing politicians running around for solutions that continue to elude them. Home foreclosures are the prime cause for the present recession.
Walk-aways out of homeownership suggest that there is an option to choose freedom and peace of mind over anything else. Troublesome homeownership only spells doom and collapsing of dreams rather than getting on with fulfilling them. When your daily life is choking under a multiple pressure, keeping up with a property that is really hard [...]
Real estate industry is growing drastically and so are the foreclosure fillings. As per the fresh statistics in the first half of the year home foreclosure filings augmented in the Capital Region though the filings statewide have receded.
Foreclosure filings are observed more in that segment of Capital Region where initially it was unseen. It seems [...]
Somewhere in between Sales 101 and our first time in the “Sales Box” of a car dealership, most of us came up with what professionalism should and should not be. I think most decide, “whatever I just went thru in that dealership is what I don’t want to do to people”.NAR has somehow led [...]
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Click fraud is making a come back. Not that it never went away. False clicks on Google Ads, Yahoo ads, and MSN is proving to have at least 10% of its hits to be fraudulent. This according to Fair Isaac’s,…
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Hey do you go far enough back on the web to remember HotBot? I was just checking my logs and what do I see? A referral from Hotbot. Those of you old timers will remember that was when metatags and…
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