Stop Foreclosure Program http://stopforeclosureprogram.org Discover How To Stop Foreclosure and Keep Your Home Sun, 27 Jun 2010 02:15:37 +0000 en hourly 1 Real Estate Prices Still Lagging In Much of the Country http://stopforeclosureprogram.org/2010/06/real-estate-prices-still-lagging-in-much-of-the-country/ http://stopforeclosureprogram.org/2010/06/real-estate-prices-still-lagging-in-much-of-the-country/#comments Sun, 27 Jun 2010 02:15:37 +0000 Staff http://stopforeclosureprogram.org/?p=82 As homeowners struggle to make payments on existing mortgage contracts the domestic housing market continues its struggles.

Many American home owners have been forced to contend with the weakened housing market and high unemployment numbers, a combination that is making it difficult to maintain financial stability.

These problems have the potential to become even worse as federal aid is drying up just at the time when money people need it most. Mortgage relief programs and extended unemployment benefits are two programs needed by struggling homeowners that the government is trying to cut.

Effective Mortgage Help Needed

When the extent of the domestic mortgage crisis become evident several years ago the government recognized the need to support struggling homeowners and created programs including the Making Home Afforable initiative to accomplish the goal.

Unfortunately federal intervention has not been enough and the programs instituted have not been adequate to help many homeowners. As the problem of foreclosures continues effective solutions are still needed.

Unemployment Benefits Threatened

The United States is experiencing significant unemployment numbers as the global recession continues. Despite stimulus efforts by the government national unemployment continues to hover around 10% with indication it is only getting worse. While millions of Americans are struggling to find work Congress is threatening to cut off all unemployment extensions.

Unemployment benefits are the only source of income for many struggling people  including homeowners. Discontinuing support for the unemployed could further damage the struggling housing market making a recovery even more difficult.

]]> http://stopforeclosureprogram.org/2010/06/real-estate-prices-still-lagging-in-much-of-the-country/feed/ 0 Is US Home Housing Positioned For A Rise In 2010? http://stopforeclosureprogram.org/2010/06/is-us-home-housing-positioned-for-a-rise-in-2010/ http://stopforeclosureprogram.org/2010/06/is-us-home-housing-positioned-for-a-rise-in-2010/#comments Sat, 05 Jun 2010 12:40:34 +0000 Jeffrey Fisher http://stopforeclosureprogram.org/?p=68 As we approached late 2009, we saw a glimmer of light at the end of the tunnel as home sales accelerated to new highs in more than 2 years. Many assumed that we have hit bottom in home prices with increased activity from home purchasers bidding against each other in auctions from Florida to Nevada, Silicon Valley and New York.

Not to ruin the party but Mark Zandi, the chief economist of Economy.com thinks not. He predicts that home prices may fall another 5% to 10% in 2010 with some extreme cases of 30% in places like Miami. There is a very slim chance that home prices may recover in 2011 and it is still too premature to tell. Zandi worries that the millions of troubled loans that eventually don’t get modified will pile up and convert into more foreclosures. RealtyTrac estimates that 2 million housing units in the United States are in foreclosure or bank owned. There is a clear danger that many more are likely to pile on to the inventory. Zandi is estimating 2.4 million new foreclosures in 2010. He is anticipating that banks will become more aggressive in listing more of their properties in the first half of the year. The bank’s actions of dumping more properties in the market will cause prices to tumble even more.

Currently, the property market is not able to stand on its own as it is artificially propped up by the extended first-time-home-buyer tax credit coupled with the government’s expensive purchases of mortgage backed securities (MBS). The U.S government has been purchasing mortgage-backed-securities or the bundling of home loans as of late 2008. The government purchases of these securities have helped to keep mortgage rates low and attractive. Mortgage-backed securities were once popularly sold through Wall Street to world-wide investors betting that U.S. housing will continue to prosper. These investors purchased MBS in hopes of earning a favorable return. This of course is the contrary as we are witnessing today with the demise of U.S. housing causing the market demand for mortgage-backed securities to shrink with no buyers or investors. As a result, the U.S. government stepped in to sustain the purchases of mortgage-backed securities so as to preserve low mortgage rates in an effort to prevent further hurt to U.S. home prices. By March of 2010, the U.S. government would have completed its purchase of a whopping $1.25 trillion worth of mortgage-backed-securities. There is speculation that the government may end its purchases of mortgage-backed-securities by March 2010. This may result in mortgage rates to spike by a full point. This may turn away many homebuyers as it raises the cost of buying a home.

All these factors were incorporated into Economy.com’s housing price forecast for 2010 with the consideration of local figures for income, population, interest rates and foreclosures. The result covers 100 metropolitan areas. Their 2009 projection of a 14.5% decline were quite accurate and not too far off from the actual 13.2%. According to Zandi, the hardest hit areas as he terms the ‘usual suspects’ such as Nevada, Florida, Arizona and California will experience more foreclosures. He indicated Miami was the worst market where the 2009 median home price of $183,530 is predicted to fall another 33% in 2010.

Zandi indicates the less debatable areas like the Pacific Northwest, New York and Virginia where home costs are pricey compared to rents. The better performing regions are found in the pockets of the Midwest where the rural and energy economies are stronger in places like Dakota, Kansas and Nebraska. Pittsburgh which never had a housing bubble is the sole home market that’s anticipated to climb by 0.41% in 2010.

Get foreclosure help by learning about the latest government program announcements. Download your free Podcast on the US housing market forecast for your own use, blog or website.

]]> http://stopforeclosureprogram.org/2010/06/is-us-home-housing-positioned-for-a-rise-in-2010/feed/ 0 Real Estate Investors And What They Look For http://stopforeclosureprogram.org/2010/03/real-estate-investors-and-what-they-look-for/ http://stopforeclosureprogram.org/2010/03/real-estate-investors-and-what-they-look-for/#comments Wed, 31 Mar 2010 15:53:57 +0000 San Winston http://stopforeclosureprogram.org/?p=67 Real estate investors want one thing from their investments, and that is to make money on them. Nobody makes investments to lose money. The different types of investing in real estate are many. One investor may look at apartment buildings and another may search for shopping centers. No matter what the investor would like to own, he will want it to produce income for himself, or increase in value over time, or, ideally, both.

For income, an real estate investors may purchase a house for rental purposes. In this way, he can pay for the house, any repairs, and hopefully have some money leftover from the rent in order to put some away. This is only one example of an income property.

If the investor decides on multi-unit apartments, the rents coming in should work in the same way. Of course, once the investor pays off the property mortgage, and he owns it free and clear, the rest is income, minus the upkeep and expenses.

The expenses for an apartment building or house, or any other type of investment wherein there are tenants paying rent, consist of separate bills for the electricity, heating, pro-rated property taxes, and sometimes water and other maintenance fees, such as landscaping or snow plowing.

Commercial investing works generally the same way. The tenants share in the property taxes, maintenance and utilities. There may be other expenses to commercial tenants, however, like purchasing their own insurance to protect their business and personal property within their leased space.

Among the many kinds of commercial property to purchase for income are car washes, diners, retail stores, duplexes, and shopping plazas. They may also be interested in office buildings, or warehouses, or parking lots. They may even decide on purchasing land, unimproved or partially improved, for development in the future, or perhaps to one day sell to a developer.

The risks are many when investing in real estate. The housing market fluctuates just like the stock market. The best way to protect yourself when it comes to investing in a property is to do as much investigation on the property as possible. Due diligence is always a good idea. Real estate investors should also inquire about the properties of interest, and the risks involved, with his accountant, his attorney, and perhaps a real estate agent.

Looking to find the single source of helpful information on real estate investors?

]]> http://stopforeclosureprogram.org/2010/03/real-estate-investors-and-what-they-look-for/feed/ 0 How NOT To Rent Warehouse Space http://stopforeclosureprogram.org/2010/03/how-not-to-rent-warehouse-space/ http://stopforeclosureprogram.org/2010/03/how-not-to-rent-warehouse-space/#comments Sun, 28 Mar 2010 19:49:55 +0000 Will Rogen http://stopforeclosureprogram.org/?p=66 renting warehouse space Gwinnett County can offer. However, you should not jump at the first warehouse space you find. You will realize maximum benefit only if the warehouse you choose to rent can meet your unique requirements. Here are some common mistakes people make when choosing to rent warehouse space:]]> There is no doubt that your business will benefit from the extra space and added efficiency that renting warehouse space Gwinnett County can offer. However, you should not jump at the first warehouse space you find. You will realize maximum benefit only if the warehouse you choose to rent can meet your unique requirements. Here are some common mistakes people make when choosing to rent warehouse space:

You will need to list your business requirements in detail. You should ask yourself questions like; do I need electricity or water? How many plug points should there be? Will I need employees working inside the warehouse? If so, how many parking spaces will I require? Your business requirements need to be thought through carefully with a long-term vision in mind. It will be foolish to sign a long-term lease, when you know that the space will not meet your future requirements.

Do not start your search until your list of requirements is complete. You will not find a suitable solution if you are not sure what you are looking for in the first place. Think through all your requirements carefully e. G. Size, electricity, water, restrooms, loading bay and parking. Is location an important factor? You must at least consider how the location of the warehouse will affect delivery and shipping times?

Once you find a warehouse that matches your business requirements, ask current tenants about the landlord or property management company. You should find out what kind of service they provide. The current tenants will give you a clear idea on whether or not it is worthwhile pursuing the property in question.

Check that the property is compliant to all the standards and codes laid out by the city. You should be through with your investigations. Check for zoning issues or any restrictions that may be in effect.

Have an attorney go over your lease agreement. An attorney knows what to look for in the lease agreement and can advise you of any issues you may want to re-negotiate with the landlord. This can save you time and money in the long run.

Do not forget to take out insurance on your equipment. The landlord is responsible for insuring the building. This means that your valuable inventory is not included so make provisions for additional insurance costs. If you have people working in the warehouse, then remember to include liability insurance into your policy.

You may find yourself in a position where you need to rent warehouse space urgently however; it is not wise to rush through the process. The effort you put up-front i. E. Defining your requirements and performing your due diligence will limit the risk involved and will prove invaluable in the long-run.

Looking to find the single source of helpful information on rent warehouse space Gwinnett County?

]]> http://stopforeclosureprogram.org/2010/03/how-not-to-rent-warehouse-space/feed/ 0 Mortgage Refinance Assistance Money http://stopforeclosureprogram.org/2009/10/mortgage-refinance-assistance-money/ http://stopforeclosureprogram.org/2009/10/mortgage-refinance-assistance-money/#comments Mon, 26 Oct 2009 05:10:45 +0000 Staff http://stopforeclosureprogram.org/?p=17 Mortgage refinancing is the replacement of a valid home loan agreement with a fresh home loan agreement with new terms. Refinancing is used to refer to the substitution of any debt obligation with a new loan consisting of new terms. It is normally used for replacement property loans. The cash generated from refinancing agreements is generally used to pay off the original debt. If you would like to learn more about refi programs regarding your house loan you must speak with your lender. If your mortgage company is unwilling to renegotiate terms you can also get refinancing from another lender.

Home loan is to change any of the policies of a current loan agreement. It can be helpful to reduce financing fees, reduce monthly payments, or to raise money. Because of the current real estate situation lots of struggling property owners have taken advantage of refinancing to modify aspects of their mortgages normally making them simpler to maintain. Perhaps the most common use of home loan refinancing is to lower monthly payments which provides immediate assistance to mortgage holders. Property owners who have fallen behind in their house payments and are at risk of foreclosure have much to benefit from reducing their monthly mortgage payment. Mortgage refinance is heavily used as a method to increase overall cash flow. With the current home price slump many individuals are also dealing with other obstacles including unemployment or high medical costs. For these families refinancing can provide highly sought assistance from the constant demand of overwhelming mortgage payments.

The modified aspects of a refinancing agreement should provide gains for the lender and borrower. Loan companies will only agree to a reduced regular payment in exchange for amending some other aspect of the loan. Most times the amortization time line of the loan or the rate is also changed. The refinancing eligibility review also takes into account your present economic situation and if it has been altered since you took out your initial mortgage. Your lender can help you review your present borrowing profile to determine if you may be eligible for refinancing.

Home loan refinancing has been available to home owners for many years but it is only recently that many distressed home owners have utilized it to rid themselves overwhelming loan debt. The federal government, as part of the economic stimulus plan, has decided to provide mortgage relief programs in a bid to stop foreclosures. With programs like the Home Affordable Refinance Program congress has provided money to promote home loan refinance for distressed homeowners. The cash from the program goes to mortgage companies who negotiate with struggling home owners create easier repayment guidelines. If you would like to find out more about the Home Affordable Refinance Program or believe you may be eligible for assistance you should contact your lender. They will have all the relevant information about government assistance for mortgage refinance.

]]> http://stopforeclosureprogram.org/2009/10/mortgage-refinance-assistance-money/feed/ 0 Mortgage Modification or Refi Can Lower Payments http://stopforeclosureprogram.org/2009/10/mortgage-modification-or-refi-can-lower-payments/ http://stopforeclosureprogram.org/2009/10/mortgage-modification-or-refi-can-lower-payments/#comments Thu, 22 Oct 2009 05:14:27 +0000 Staff http://stopforeclosureprogram.org/?p=19 As the current crisis continues there has been no sector hit as hard as the housing market. Home prices in most of the country have taken a tumble and a significant portion of property owners are fighting to maintain their mortgage payments. Mortgage defaults have become so widespread that the federal government is deciding to assist the many mortgage borrowers in this country who might lose their homes. There are 2 primary types of programs intended to assist mortgage holders. The programs are home refinancing and home loan modification. The two programs are supposed to help home owners to reduce mortgage payments but function in slightly different ways.

Refinance is when a mortgage holder borrows a new mortgage and uses the proceeds to repay an outstanding loan. If mortgage holders undergo refinancing they are taking out an entirely new loan and have to follow the same rules they followed when they took out their initial loan. The necessary guidelines can include inspections and appraisal fees. Refinance agreements normally takes place when the mortgage holder’s financial outlook experiences significant change. Experts indicate the types of changes to a homeowners economic situation that could warrant a loan refinance are new loan rates or improvements in credit rating. Mortgage holders can also undergo refinancing to lower mortgage payments. The federal government is at this time supporting mortgage refinance initiatives with the HARP program.

The other solution to mortgage foreclosure is called mortgage modification. Mortgage modification is in most ways a simpler alternative to loan refinancing because you are altering specific elements of your current loan contract. Instead of borrowing a completely fresh mortgage with new conditions you negotiate with your mortgage holder to change certain features of the mortgage. If you are having a tough time making your monthly payments due to financial catastrophe you should be a candidate for a reduced monthly payment. You should be able to do this by altering the length or other terms of the agreement. Many mortgage holders like loan modification because they find it easier. The U.S. congress has encouraged loan modification for struggling mortgage holders through the Home Affordable Modification Program.

In the case that you have fallen behind your monthly mortgage payment you are like many other Americans. Due to the recent financial environment millions of mortgage holders are at risk of being kicked out of their houses. Fortunately the federal government has chosen to keep Americans in their houses with stop foreclosure programs. Talk with your mortgage lender to learn if you are eligible for one of congress’ homeowner relief programs.

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]]> http://stopforeclosureprogram.org/2009/10/mortgage-modification-or-refi-can-lower-payments/feed/ 0 Government Assistance Programs for Homeowners http://stopforeclosureprogram.org/2009/10/government-assistance-programs-for-homeowners/ http://stopforeclosureprogram.org/2009/10/government-assistance-programs-for-homeowners/#comments Fri, 16 Oct 2009 05:17:47 +0000 Staff http://stopforeclosureprogram.org/?p=22 Many American home owners are now going through financial distress that can be attributed to the the current economic recession. For some people their situation is so bad they risk losing their houses. To help make sure those individuals are able to remain in their houses the government has created a brand new Financial Stability plan with the goal of aiding homeowners during these difficult times. A crucial component of the strategy is the Making Home Affordable plan.

This plan is supposed to improve the whole domestic economy by quickly helping the housing sector. The aim of the program is to help about 4 or 10 million people remain in their houses by reducing monthly mortgage payments. The program utilizes 2 types of home loan restructuring programs; mortgage refi and home loan modification. The congress has committed more than $75,000,000,000 to pay for these assistance plans.

The mortgage refinance plan will be run according to the terms set forth by the Home Affordable Refinance Program plan. House loan refinance happens if a mortgage holder works out a completely new loan and utilizes the proceeds to pay down the balance of the current home loan. The Home Affordable Refinance Program program will give up to 5,000,000 mortgage holders with mortgages guaranteed by Fannie Mae or Freddie Mac the chance to refinance their loans. When they refinance borrowers can get lower regular payments,making it allowing them to keep their homes.

The mortgage loan modifications are going to be administered by the Home Affordable Modification Program.The HAMP money is supposed to assist up to 4,000,000 struggling property owners get their current loan terms altered. Loan modification is when borrowers and loan companies negotiate and change just a few aspects of an existing mortgage agreement. As opposed to refi which is a whole new loan, modification alters only one terms of a contract. This is often simpler with less requirements to deal with. By altering loan agreements to include lower monthly payments a number of mortgage defaults can be avoided.

If you are a distressed homeowner there is a good probability that you are qualified to receive home loan assistance. You may be able to lower monthly payments of an existing mortgage to prevent foreclosure through loan refi or loan modification. To find out if you are eligible for either Home Affordable Refinance Program or Home Affordable Modification Program speak with your mortgage company. They should have all the applicable info about public mortgage relief plans.

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]]> http://stopforeclosureprogram.org/2009/10/government-assistance-programs-for-homeowners/feed/ 0 Loan Modification for Underwater Homeowners http://stopforeclosureprogram.org/2009/10/loan-modification-for-underwater-homeowners/ http://stopforeclosureprogram.org/2009/10/loan-modification-for-underwater-homeowners/#comments Sun, 11 Oct 2009 05:19:45 +0000 Staff http://stopforeclosureprogram.org/?p=24 Loan modification describes the process where the borrower and mortgage company work together to alter the conditions of a mortgage agreement. Generally any  debt obligation is able to be modified with certain aspects altered however the process is most widely utilized with home loans. Home loan modifications have over the last year exploded in popularity as a result of the national housing crisis. Modification has been used to aid home owners who are having difficulty making monthly mortgage payments due to financial hardship or growing mortgage debt. Mortgage modification has proven so helpful that the government has passed a mandate to lenders to extend more modification plans to underwater borrowers.

Loan modification alters the original loan agreement to the benefit of the borrower in 1 or several ways such as; altering how the rate is found and limiting regular payments. Lowering monthly mortgage payments is perhaps the most widely used aspect of loan modification. Lots of mortgage holders have been falling behind in payments after experiencing a dramatic increase in the monthly payments. Either because of a known increase or interest rate reset lots of households have unexpectedly found themselves with a mortgage payment they are unable to pay. Mortgage modification allows many home owners to control exploding costs.

Home owners who have stopped making their monthly payments and are trying to <a href=”http://stopforeclosureprogram”>avoid foreclosure</a> can request mortgage modification relief. whatever the particulars of your borrowing profile the specific options available to you could differ. Home loan modifications are the result of negotiations between the borrower and lender and have to be agreed to by both parties. Often lenders are amenable to discuss changing mortgage terms when their is a likelihood the borrower will stop payments. Often a lower monthly payment is more than your mortgage company could get from a foreclosure sale of a home making mortgage companies prepared to negotiate smaller monthly mortgage payments. Depending on the specifics of your contract such as repayment status and present home value your mortgage company may be willing to speak with you.

The government has gotten involved and is asking mortgage companies to provide home loan modification programs to their home owners. With several public plans such the Home Affordable Modification Program the central government is spending record sums to create mortgage relief programs for loan holders. The funding is used to provide financial motivation to mortgage companies to work out home loan modifications with borrowers and offer smaller agreements. Since the money is reaching the individual households via lenders themselves, you should talk to your mortgage company if you think you are eligible.

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]]> http://stopforeclosureprogram.org/2009/10/loan-modification-for-underwater-homeowners/feed/ 0 Uncle Sam Can Help You Avoid Foreclosure http://stopforeclosureprogram.org/2009/10/uncle-sam-can-help-you-avoid-foreclosure/ http://stopforeclosureprogram.org/2009/10/uncle-sam-can-help-you-avoid-foreclosure/#comments Wed, 07 Oct 2009 12:26:07 +0000 Staff http://stopforeclosureprogram.org/?p=27 he current financial tumult has rocked many families. As foreclosures are starting to grow the economy appears to be headed further down. Most professionals say a recession has already started. In an attempt to revive the economy the government has enacted a stimulus plan.

The recovery strategy is to prop up the residential housing industry by providing cash to borrowers who are having a tough time getting the cash for their payments. The strategy is based on the assumption that the bulk of the country‚Äôs economic issues are grounded in an unstable mortgage market. By propping up failing housing loans and ensuring families remain in their homes it is hoped the economy overall will improve. With consumer confidence and construction spending at their lowest in years it is clear that some impetus is required to jump start the American economic engine. If government officials are right the mortgage assistance policies they’ve created are the key to rejuvenated financial prosperity.

The program also calls for mortgage lenders that are amenable to revisit the loans they have made. They are encouraged to work with straining borrowers to help them to develop more forgiving monthly payments. Many borrowers are falling behind in their monthly payments because of contractual stipulations such as balloon payments or interest rate increases. Some borrowers have been affected by the collapse in housing values which has severely limited the opportunities for a lot of borrowers. Whatever the cause for home owner anxiety home loan assistance plans can help limit home foreclosures.

The government mortgage assistance program passed by the US congress provides emergency funds for US homeowners to keep their homes. If you find yourself presently trying to prevent foreclosure on your mortgage and feel you are a candidate for relief you should speak to your lender. The government is telling all mortgage holders to speak with their mortgage company. Lenders have all the necessary information regarding eligibility requirements. If your loan lender is unable to help you with loan assistance get in touch with a government housing agency.

]]> http://stopforeclosureprogram.org/2009/10/uncle-sam-can-help-you-avoid-foreclosure/feed/ 0 Avoid Foreclosure Through Fannie Mae http://stopforeclosureprogram.org/2009/10/avoid-foreclosure-through-fannie-mae/ http://stopforeclosureprogram.org/2009/10/avoid-foreclosure-through-fannie-mae/#comments Tue, 06 Oct 2009 12:38:41 +0000 Staff http://stopforeclosureprogram.org/?p=38 Fannie Mae is the better known name for the Federal National Mortgage Association, a stock holder owned corporation that last year was put under conservatorship of the government because extreme financial distress. It is likely that they are the owner of the title of your property and if so you could be entitled to government relief.

The Federal National Mortgage Association was founded by public charter in the 1930′s during the Great Depression. Its cause was to increase the credit availability for low income Americans by securitizing mortgages. This was done to make sure that there would be plentiful supply of money for the institutions responsible for giving mortgages to borrowers. In 1968 the congress converted the once public organization into a privately held corporation under the control of a board of directors. As a government sponsored enterprise its existence has been criticized for its relationship to the government and near public classification.

In September of 2008 the crisis in the US housing market forced the FHFA to put Fannie Mae into conservatorship. Once again the organization was returned to the control of the the federal government. It was estimated that at that time Fannie Mae and its sister corporation Freddie Mac backed approximately half of the US $12 trillion dollar real estate market. It had an operating loss of a little more than $5 billion in 2007 and more than $880 billion in assets to close 2007. With all of the companies business closely intertwined with virtually every aspect of the US real estate market the financial meltdown forced congress to intervene with public assistance.

There had long been suspicion that Fannie Mae and Freddie Mac were supported by the government and once those suspicions turned out to be true the federal government assumed significant influence with those institutions. That public influence is being used to enact policies to help distressed home owners prevent foreclosure. If you are a homeowner with a mortgage guaranteed by the Federal National Mortgage Association you may be eligible for mortgage relief. In exchange for public support Fannie Mae is mandated to provide mortgage relief to distressed home owners including mortgage refinance and loan modification programs. These programs restructure home loan contracts to lower rates or monthly payments. If you are unable to make your mortgage payments you can get in touch with Fannie Mae directly. They will assist you in determining who is the holder of your home loan and how you can get assistance.

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