Posts with tag underwater

While experts predict that the rate of foreclosures in 2010 will exceed those in 2009, there is some good news. RealtyTrac, an Irvine, Calif.-based data company, reported that the foreclosure rate dropped by about 5 percent during the first half of 2010. Still, in the first quarter of the year, one in seven mortgages was... Continue Reading »

You might think a vulture is the least likely creature to help you save your home. But there's a group of vultures who are doing just that -- in fact, they're being more of a friend, to many homeowners in trouble, than banks are. One of them, mortgage-bond trader Lewis Ranieri, has developed a method to keep troubled... Continue Reading »

While it's a type of mortgage fraud, more and more people are turning to the strategy of buying a new house at a lower price and then walking away from their underwater home. Now that 14 million homeowners are underwater, with a projection that their number will grow to 20 million by the end of 2011, desperation has set... Continue Reading »

More than 14 million homeowners are underwater on their mortgage today and Deutsche Bank projects that number will increase by 6 million to 20 million by the end of 2011. The bank also expects a rise in strategic defaults, especially in the states with non-recourse (the banks can't chase you for any shortfall). There are... Continue Reading »

This week home mortgage borrowers got the latest word on how much they owe compared to the actual value of their real estate – and the numbers are only getting uglier. First American CoreLogic, a company that gathers data on millions of mortgages that have been packaged into securities for investors, reports that... Continue Reading »