Citi Mortgage To Let Troubled Homeowners Stay for 6 Months
Citi Mortgage To Let Troubled Homeowners Stay for 6 Months
By : The Associated Press
Feb 11, 2010
Citigroup Inc. plans to let homeowners on the verge of foreclosure stay in their homes for six months — if they turn over the deed to their property.
Citi said Thursday it is launching the pilot program, dubbed “Foreclosure Alternatives,” this week in Texas, Florida, Illinois, Michigan, New Jersey and Ohio. Initially, about 1,000 homeowners are expected to participate. Citi may expand the program nationwide.
Florida Supreme Court Adopts Foreclosure Mediation Rules
Florida Supreme Court Adopts Foreclosure Mediation Rules
From : the Associated Press, Feb 11, 2010
Lenders will be required to pick up the tab for investigating and verifying ownership before foreclosing Florida home mortgages under new mediation rules.
The Florida Supreme Court adopted the rules Thursday in an effort to help the state’s judicial system better cope with a flood of such cases.
Florida Supreme Courts adopts ruling to force lenders into mediation in effort to reduce future foreclosures
Options You Have to Help You Avoid Foreclosure
Options you can take to help you avoid foreclosure
Foreclosure has been one of the foremost topics within the real estate world in recent years, as each year more and more Americans are suffering from the inevitable prospect of an imminent foreclosure.
Even with more than 20% of all U.S. homeowners being “underwater” as of 4th quarter 2009, more and more people are realizing that foreclosure isn’t the end and you have other options than to simply throw in the towel.
Foreclosure is not your only option, consider all your choices
Shocking statistic: 20% of all U.S. Homeowners are Underwater
Shocking statistic: 20% of all U.S. Homeowners are Underwater
Information was released today which shows that nearly 1/5th of all homeowners in the United States actually owe more on their home than the house is currently worth in re-sale value. This according to Zillow.com
The advantages of Short Sales for those in desperate financial situations
The advantages of Short Sales for those in desperate financial situations
Each year an increasing amount of homeowners are facing financial problems due to an unstable economic climate and sometimes new mortgages payments are just too high for homeowners to pay, so they’re looking for new alternatives to try and avoid the prospect of foreclosure. The reason people find themselves in this situation is often because they are lured in with a loan that has attractive low payments, however, these low payments eventually will come to an end, leaving homeowners in a sticky financial situation.