Archives for July 2008

Walk Away Homeowners Increase Foreclosures

The social stigma associated with defaulting on a mortgage seems to be disappearing as the nation's housing crisis escalates. More homeowners are choosing to freely walk-away from their homes as the values plummet. New York University Economist Nouriel Roubini was one of the first to warn of the dangers from a major real estate boom, and he believes the number of homeowners walking away from their homes due to foreclosure is increasing at a … [Read more...]

False Hopes Hang on Bail Out in Housing Crisis

By Mike Colpitts and Everett Jones Credit crisis losses are nearing $8-trillion worldwide as a result of unscrupulous lending by mortgage companies, banks and newly developed instruments on Wall Street to resell the mortgages as securities to investors, a Housing Predictor investigation has revealed. As President Bush signs the Housing Bill sent by Congress into law, the majority of homeowners facing the threat of foreclosure will fail to … [Read more...]

Six Steps to Buying Foreclosures

By Cathy Salustri With over 3.1-million more homes at risk of foreclosure, speculators and new homeowners entertain dreams of buying foreclosures to get that real steal. Unlike buying a new or resale home, buying foreclosures takes a key buyer beware attitude so you don't get burned. Internet based services like Foreclosure.com and Realty Store.com provide consumers the inside track on opportunities to buy foreclosures before they hit the … [Read more...]

Bold Steps Needed in Foreclosure Epidemic

By Mike Colpitts Half way through the first year of his administration, President Barack Obama has major problems still brewing with the economy triggered by the real estate crash. Hardly anyone expected the Obama Administration to pull off miracles and resolve the troubled economy rapidly. But hopes seem to be diminishing for a turnaround any time soon. The Obama Administration and the U.S. Treasury are frustrated at efforts made to … [Read more...]

US Government to Buy Stock in Fannie and Freddie

By Mike Colpitts Oh, how I hope the majority is wrong! The Bush Administration is handing over a proposal to Congress for the U.S. government to buy stock in America's two biggest insurers of home mortgages, Fannie Mae and Freddie Mac. The plan would buy stock to keep them afloat, and essentially transforms both companies into government backed conduits to keep the country's mortgage business running. As recently as this month, the two … [Read more...]

New Urbanist Neighborhood Pitfalls

By Cathy Salustri New Urbanist communities recreate mid-20th century America with every detail so residents can enjoy the quintessential small town. Architects design the towns for walking and biking rather than driving, but nearly 30 years after the New Urbanism movement started communities are experiencing their challenges. New Urbanism started in Seaside, Florida in 1979 with a goal of reforming real estate development and urban … [Read more...]