By Kevin Chiu The foreclosure crisis has produced an overpowering series of affects across the U.S., destroying businesses, taking away livelihoods, tossing millions of homeowners out of their homes and pressuring home prices in the over-whelming majority of neighborhoods lower. The crisis, first forecast by Housing Predictor almost five years ago as the first real… Continue reading Foreclosures Forecast to Hit 15 Million Homeowners
Category: Nevada
Nevada housing market
Mortgage Delinquencies Drop
By Kevin Chiu The number of homeowners behind on their mortgages has dropped as a result of a higher number of mortgage modifications, according to one of the nation’s largest providers of mortgage data. The drop in mortgage delinquencies is a positive sign for the housing market, despite an uphill battle banks and mortgage companies… Continue reading Mortgage Delinquencies Drop
Guilty Plea in Condo Fraud Scheme
By Kevin Chiu A Las Vegas man has pleaded guilty for his role in a scheme to gain control of a condominium owners association and illegally direct business to a law firm and construction business. Steven Wark, 54, admitted that he operated a fraud scheme for nearly six years starting in May 2005, in which… Continue reading Guilty Plea in Condo Fraud Scheme
Short Sales Rise to Aid Real Estate
By Kevin Chiu At least two of the U.S. largest commercial banks are increasing the volume of short sales in efforts to increase their profit margins even as more homes bloat the inventory of properties that aren’t producing profits for the lenders. The transition hasn’t been an easy one for lenders in these wild days… Continue reading Short Sales Rise to Aid Real Estate
Foreclosure Rates Finally Fall
By Mike Colpitts Legal foreclosure filings, including default notices, bank repossessions and scheduled auctions fell for the tenth straight month in July, but the market showed a major difference in the type of slowdown, according to Realty Trac. The string of declines was initially caused by the robo signing scandal, but the downturn has transformed… Continue reading Foreclosure Rates Finally Fall
Mortgage Defaults Surge Higher
By Kevin Chiu Mortgage defaults, the first step homeowners face in the foreclosure process, surged higher during the month of June demonstrating an increase in future anticipated foreclosures growing at the fastest rate in more than a year, according to Lender Processing Services, a real estate data supplier which tracks defaults. The surge in mortgage… Continue reading Mortgage Defaults Surge Higher
Donald Trump’s Best Friend Lists $10 Million Estate
Billionaire gambling magnate Phillip Ruffin, who is Donald Trump’s best friend is putting his 8,000 square foot Palos Verdes, California estate on the market to sell after owning the home only five years. Ruffin sold the New Frontier Hotel and Casino to the owners of New York’s Plaza hotel for $1.2 billion in the midst… Continue reading Donald Trump’s Best Friend Lists $10 Million Estate
Housing Recovery Delayed as Foreclosures Stall
By Kevin Chiu As many as 1-million homes that should have been foreclosed in 2011 will be delayed until 2012 stalling a housing recovery in the U.S. as lenders work through problems with foreclosure procedures, lawsuits and other legal problems, according to RealtyTrac. The foreclosure tracking firm reported that a total of 1,170,402 residential properties… Continue reading Housing Recovery Delayed as Foreclosures Stall
Taking a Loss On Your Own Home
By Kevin Chiu It’s a beating that’s hard to take –a financial loss on your own home. Just a handful of years ago you couldn’t go any where in public without over hearing how hot the housing market was. People were buying and selling property as much as they could afford or were allowed to.… Continue reading Taking a Loss On Your Own Home
Majority Affected by Foreclosures
The crisis is hitting home. An overwhelming majority of respondents to a new Housing Predictor poll say they are directly affected by the foreclosure crisis in their own neighborhood. The survey found that 74% of all those who took part in the online survey from all 50 U.S. states said they think the foreclosure crisis… Continue reading Majority Affected by Foreclosures