I saw this article and thought it might apply here in New Mexico to keep some distressed Albuquerque Homeowners in their homes. Source: The Wall Street Journal by Alan Zibel "Citigroup is starting a program to allow 500 homeowners in trouble with their mortgages to rent back their homes if they sign over the deed, a step some lenders are taking to help people avoid foreclosure. The bank said Wednesday that it has sold $158 million in loans it holds on its books to a joint venture of Santa Ana, Calif.-based … [Read more...]
Obama may soon make refinancing your Albuquerque home easier – Albuquerque Real Estate News
Some great news coming out of Washington that may affect many Albuquerque home owners and Albuquerque real estate as a whole. We might actually be able to refinance our homes into better interest rates! The Obama administration is considering further actions to strengthen the housing market, but the bar is high: plans must help a broad swath of homeowners, stimulate the economy and cost next to nothing. One proposal would allow millions of homeowners with government-backed mortgages to refinance them at today’s … [Read more...]
Foreclosure statistics point to Real Estate recovery – Albuquerque Realtor News
FORECLOSURES FALL FOR 8TH STRAIGHT MONTH The number of home owners who were put on notice for defaulting on their mortgage paymenst dropped last month to the lowest level since 2006, Realty Trac Reports. Meanwhile, foreclosure fillings for the eighth straith month also were down as filings fell 33 percent in May compared to a year earlier and 2 percent month-over-month. Also, lenders took back fewer homes in May, the second straight month of declines. And bank repossessions were down in May too - down nearly … [Read more...]
Thinking About Buying an Albuquerque Foreclosure?
RISMEDIA, April 7, 2011—The economy is improving overall and, as a result, some bright spots are showing up in the real-estate market. However, the foreclosure spike, which began around the same time the recession did, isn’t a distant memory just yet. In many areas, foreclosures are still happening; in some areas, those numbers have increased. Surprisingly, foreclosures have even encroached into some key cities that were formerly thought to be unshakable real-estate markets — like San Francisco, where foreclosures … [Read more...]