tag:blogger.com,1999:blog-183259962024-03-12T17:52:45.961-07:00Real Wealth Real Estate Systems from Bob DiamondBob Diamondhttp://www.blogger.com/profile/01581453910231934845noreply@blogger.comBlogger60125tag:blogger.com,1999:blog-18325996.post-67353237770374558402008-12-11T07:25:00.000-08:002008-12-11T07:26:35.602-08:00Foreclosure Storm to Continue in 2009U.S. foreclosurefilings climbed 28 percent in November from a year earlier and a brewing “storm” of new defaults and job losses may force 1 million homeowners from their properties next year, RealtyTrac Inc. said.A total of 259,085 properties got a default notice, were warned of a pending auction or were foreclosed on last month, the seller of default data said in a report today. That’s the Bob Diamondhttp://www.blogger.com/profile/01581453910231934845noreply@blogger.comtag:blogger.com,1999:blog-18325996.post-60104704576581068742008-11-12T08:42:00.000-08:002008-11-12T08:44:23.898-08:00Underwater in California and Across the USMOUNTAIN HOUSE, California: This town, 59 feet above sea level, is the most underwater community in America.Because of plunging home values, almost 90 percent of homeowners here owe more on their mortgages than their houses are worth, according to figures released Monday. That is the highest percentage in the country. The average homeowner in Mountain House is "underwater," as it is known, by $Bob Diamondhttp://www.blogger.com/profile/01581453910231934845noreply@blogger.comtag:blogger.com,1999:blog-18325996.post-8966268241652079002008-11-12T08:37:00.001-08:002008-11-12T08:37:38.342-08:00A Guide To Avoiding Foreclosurehttp://www.hud.gov/foreclosure/Bob Diamondhttp://www.blogger.com/profile/01581453910231934845noreply@blogger.comtag:blogger.com,1999:blog-18325996.post-68093758133288680282008-11-12T08:36:00.001-08:002008-11-12T08:36:51.140-08:00Credit Card Debt Forgiveness Could Be On the WayReporting from Washington -- With defaults on credit card debt spiraling amid a global financial downturn, banks already reeling from the mortgage crisis are losing billions more from unpaid credit card bills.Big banks have formed an unusual alliance with consumer advocates to urge the government to allow huge portions of credit card debt to be forgiven, a turnabout from recent years, when the Bob Diamondhttp://www.blogger.com/profile/01581453910231934845noreply@blogger.comtag:blogger.com,1999:blog-18325996.post-60189711919478966382008-11-12T08:29:00.002-08:002008-11-12T08:34:38.616-08:00Is Credit Repair "Fixed"?With foreclosures, short sales and credit card defaults at record levels, an aggressive breed of firms has sprung up, offering to power-wash consumers' damaged credit files and boost credit scores, thus eliminating records of bankruptcies and mortgage delinquencies, even when the information is accurate.Such services -- promoted widely on the Internet and in radio ads -- are especially attractiveBob Diamondhttp://www.blogger.com/profile/01581453910231934845noreply@blogger.comtag:blogger.com,1999:blog-18325996.post-27207155864494563822008-11-12T08:29:00.001-08:002008-11-12T08:29:57.775-08:00Borrowing Against Equity Is Getting RareThe amount of money U.S. homeowners pulled out of their homes remained at a four-year low in the third quarter as higher mortgage rates cut the number of borrowers who refinanced, Freddie Mac said today.Homeowners "cashed out" about $99 billion in home equity during the first three quarters of the year, the lowest since the first nine months of 2004, according to the McLean, Va.-based mortgage Bob Diamondhttp://www.blogger.com/profile/01581453910231934845noreply@blogger.comtag:blogger.com,1999:blog-18325996.post-88164164353998567782008-11-12T08:23:00.000-08:002008-11-12T08:27:33.668-08:00High End Homes Move at a Snails PaceAs the luxury real-estate market slows to a snail's pace, real-estate brokers find themselves struggling to sell a growing number of "trophy homes" that are quietly gaining a new title: white elephants.The term hails from a legend that Siamese royalty gave albino elephants -- revered but financially ruinous to maintain -- to unpleasant courtiers. Today, the financial burden of carrying an overly Bob Diamondhttp://www.blogger.com/profile/01581453910231934845noreply@blogger.comtag:blogger.com,1999:blog-18325996.post-62438162443877704992008-11-12T08:22:00.000-08:002008-11-12T08:23:45.458-08:00What is a 'Good' Credit ScoreYou've sent for your credit report and paid extra for your credit score. Now what?You probably sent for it because you want to know one thing: How good (or bad) is your credit?But instead of a straight answer for your trouble, your report consists of a list of current and past debts plus a number. And what that number means can vary widely."Every company sets its own criteria," says Maxine Sweet,Bob Diamondhttp://www.blogger.com/profile/01581453910231934845noreply@blogger.comtag:blogger.com,1999:blog-18325996.post-8472264577765136692008-11-12T08:16:00.000-08:002008-11-12T08:17:14.054-08:00The "Green" Curb AppealReporting from Washington -- There is no question that green has captured the imagination, if not the pocketbooks, of new-home buyers. But that raises a question: What can sellers of existing homes do to compete with builders for the hearts and minds of potential green-leaning customers?As it turns out, the answer is: plenty. It's just a matter of how much money you want to spend. You can turn Bob Diamondhttp://www.blogger.com/profile/01581453910231934845noreply@blogger.comtag:blogger.com,1999:blog-18325996.post-92054694506878771622008-11-12T08:09:00.000-08:002008-11-12T08:14:35.376-08:00When is a Recession a 'Recession', Maybe Now!NEW YORK -- A recession isn't officially a recession until the National Bureau of Economic Research says it is.You don't have to wait for them, though. The nonpartisan group often doesn't declare a recession until after it's over _ but when unemployment is high as incomes fall, you may know it's a recession long before any economic brain trust has made it official.Take, say, most of this year. IfBob Diamondhttp://www.blogger.com/profile/01581453910231934845noreply@blogger.comtag:blogger.com,1999:blog-18325996.post-67262835692248277842008-11-12T08:07:00.000-08:002008-11-12T08:09:35.923-08:00Nearly One-Fifth of US Homeowners Upside Down on Their Houses(CNNMoney.com) -- At least 7.5 million Americans owe more on their mortgages than their homes are currently worth, according to a real estate research firm's report released Friday.In other words: If they sold their homes today, they'd have to bring a check to the closing. Ouch.Another 2.1 million people stand right on the brink, according to the report by First American CoreLogic. Their homes Bob Diamondhttp://www.blogger.com/profile/01581453910231934845noreply@blogger.comtag:blogger.com,1999:blog-18325996.post-10160201572335933142008-11-12T08:06:00.000-08:002008-11-12T08:07:01.733-08:00Appreciation is the Name of the GameReal estate specialists who view the economy on a large screen are confident that those with the nerve to buy a home in the current market will one day be glad they did—particularly if they're now able to capture a quality property in a desirable neighborhood at a bargain price."Throughout history, property markets have always gone through cycles. Buying smart now means picking one of those primeBob Diamondhttp://www.blogger.com/profile/01581453910231934845noreply@blogger.comtag:blogger.com,1999:blog-18325996.post-78504078262762777352008-11-12T08:01:00.000-08:002008-11-12T08:04:34.733-08:00400,000 Countrywide Mortgage Holders to get Some ReliefUSA TODAY-Nearly 400,000 homeowners will be able to get more affordable loans after Bank of America(BAC) agreed Monday to modify mortgages that originated with its Countrywide Financial unit. The move could be worth more than $8.6 billion and mark the largest predatory lending settlement in history.Monday's deal settles claims brought by attorneys general in 11 states that accused Countrywide — Bob Diamondhttp://www.blogger.com/profile/01581453910231934845noreply@blogger.comtag:blogger.com,1999:blog-18325996.post-82996874134945787012008-11-12T07:59:00.000-08:002008-11-12T08:00:56.496-08:00JP Morgan Agrees to Keep Customers out of Foreclosure (Bloomberg) -- JPMorgan Chase & Co., the largest U.S. bank by market value, said it won't begin new foreclosure proceedings on some loans while it finds ways to make payments easier on $110 billion of problem mortgages.Within the next 90 days, the bank, which two weeks ago accepted a $25 billion cash infusion from the government, will examine loans and may agree to reduce interest rates or Bob Diamondhttp://www.blogger.com/profile/01581453910231934845noreply@blogger.comtag:blogger.com,1999:blog-18325996.post-17404011754563618682008-11-12T07:55:00.000-08:002008-11-12T07:57:33.692-08:00IndyMac Borrowers May Be In The Dark About Reduced Mortgagte PaymentsThe Federal Deposit Insurance Corp.'s program to lower loan payments for struggling borrowers with mortgages from IndyMac Bank has been lauded by consumer advocates and government leaders as a model of foreclosure prevention.But when the FDIC, which is running IndyMac, mailed out 35,000 letters offering homeowners a chance to rework the terms of their mortgages, more than half the borrowers were Bob Diamondhttp://www.blogger.com/profile/01581453910231934845noreply@blogger.comtag:blogger.com,1999:blog-18325996.post-56219185914618537102008-11-12T07:52:00.001-08:002008-11-12T07:53:17.931-08:00Governement Mortgage Aid Progam Getting Low Turn OutWASHINGTON -- The government expects only 20,000 troubled borrowers will apply to refinance into more affordable home loans by next fall under a new mortgage aid program passed by lawmakers over the summer.The $300 billion "'Hope for Homeowners" program was launched Oct. 1. Designed by lawmakers eager to respond to the mortgage crisis, the Congressional Budget Office had projected it would let Bob Diamondhttp://www.blogger.com/profile/01581453910231934845noreply@blogger.comtag:blogger.com,1999:blog-18325996.post-90382092349737424522008-09-10T07:39:00.000-07:002008-09-10T07:41:40.856-07:00Interesting New Florida Rental LawsFlorida Passes Flat Fee Early Lease Termination Bill - Signed byGovernor June 10 and Effective NowA new Florida law has just been signed which amends Florida Statutessection 83.43 and 83.595. The law can be seen athttp://www.myfloridahouse.gov/Sections/Documents/loaddoc.aspx?FileName=_h1489er.xml&DocumentType=Bill&BillNumber=1489&Session=2008 the full text of the laws being amended Bob Diamondhttp://www.blogger.com/profile/01581453910231934845noreply@blogger.comtag:blogger.com,1999:blog-18325996.post-6655687852995502562008-08-14T14:09:00.000-07:002008-08-14T14:15:35.932-07:00Foreclosures SkyrocketThe number of homeowners stung by the dramatic decline in the U.S. housing market jumped last month as foreclosure filings grew by more than 50 percent compared with the same month a year ago, according to data released Thursday.Nationwide, more than 272,000 homes received at least one foreclosure-related notice in July, up 55 percent from about 175,000 in the same month last year and up 8 Bob Diamondhttp://www.blogger.com/profile/01581453910231934845noreply@blogger.comtag:blogger.com,1999:blog-18325996.post-83262083452140280092008-07-21T07:16:00.000-07:002008-07-21T07:17:47.794-07:00Interesting Article Regarding Home Saleshttp://www.forbes.com/2008/07/14/housing-buyers-list-forbeslife-cx_md_0714bestbuy.html?partner=emailBob Diamondhttp://www.blogger.com/profile/01581453910231934845noreply@blogger.comtag:blogger.com,1999:blog-18325996.post-33103269275573302232008-05-14T09:06:00.000-07:002008-05-14T09:07:58.826-07:00Foreclosures Still Going UP?!By MIKE BARRISForeclosure filings for April rose 65% on a year-to-year basis and 4% from March, as credit woes and tumbling home values hit homeowners, the foreclosure-listing service RealtyTrac said.RealtyTrac said there were foreclosure filings on 243,353 properties last month, which Chief Executive James J. Saccacio said was the highest since the firm began issuing its reports in January 2005.Bob Diamondhttp://www.blogger.com/profile/01581453910231934845noreply@blogger.comtag:blogger.com,1999:blog-18325996.post-76388404594089556452008-04-29T09:10:00.000-07:002008-04-29T09:14:11.712-07:00Foreclsoures Still on the Rise: 7th Straight QuarterMore than 155,000 families have lost their homes to foreclosure this year; one out of every 194 U.S. households received a foreclosure filing.Foreclosure filings in the first three months of 2008 rose more than 112% over last year, according to a study released Tuesday.Real estate information firm RealtyTrac reported that nearly 650,000 foreclosure filings - which include notices of default, Bob Diamondhttp://www.blogger.com/profile/01581453910231934845noreply@blogger.comtag:blogger.com,1999:blog-18325996.post-406135129357994522008-04-29T08:44:00.000-07:002008-04-29T08:45:12.423-07:00LIst of the 50 Cities with the Highest Homeowner Debthttp://www.forbes.com/lifestyle/2008/04/17/debt-homeowner-cities-forbeslife-cx_mw_0417realestate_table.htmlBob Diamondhttp://www.blogger.com/profile/01581453910231934845noreply@blogger.comtag:blogger.com,1999:blog-18325996.post-55492284625432706372008-04-29T08:39:00.000-07:002008-04-29T08:44:14.517-07:00Cities with High Homeowner DebtMatt WoolseyIt's no secret that homeowners with subprime mortgages have taken a beating.Next up: those who have combined their mortgages with home equity loans, second loans or both.These combinations spell especially bad news for homeowners in Sacramento, Calif., San Diego, Washington, D.C., and Colorado Springs, Colo., markets with some of the nation's highest concentrations of homeowner debt. Bob Diamondhttp://www.blogger.com/profile/01581453910231934845noreply@blogger.comtag:blogger.com,1999:blog-18325996.post-9845779405381388592008-04-15T09:40:00.000-07:002008-04-15T09:47:28.478-07:00Foreclosures and REO Numbers Continue to RiseBy Lynn AdlerNEW YORK (Reuters) - Home foreclosure filings surged 57 percent in the 12 month-period ended in March and bank repossessions soared 129 percent from a year ago, as homeowners struggled to make mortgage payments, real estate data firm RealtyTrac said on Tuesday.For the month of March, foreclosure filings, default notices, auction sale notices and bank repossessions rose 5 percent, ledBob Diamondhttp://www.blogger.com/profile/01581453910231934845noreply@blogger.comtag:blogger.com,1999:blog-18325996.post-56790348744005946392008-04-09T07:07:00.000-07:002008-04-09T07:11:32.673-07:00Mortgage Applications Continue to RiseBy Amy Hoak, MarketWatchCHICAGO (MarketWatch) -- Mortgage application filings rose a seasonally adjusted 5.4% last week compared with the last week of March, the Mortgage Bankers Association reported on Wednesday.Interest rates charged on fixed- and adjustable-rate mortgages increased across the board.Applications for the week ended April 4 were up 10.9% compared with the same week a year Bob Diamondhttp://www.blogger.com/profile/01581453910231934845noreply@blogger.com