Myrtle Beach real estate market is dominated with foreclosure sales. This beach town of Myrtle Beach in South Carolina has witnessed a spike in the sale of condos – marking a jump of more than 70% during the twelve months stretching from 2009 April to 2010 April. This high jump in this resort township is [...]
There is a big difference between secured and unsecured debt when it comes to personal finance matters. Real property like a house covered by a mortgage loan is considered secured debt because it has collateral to protect the lender. Unsecured debt is any that is not bound to actual property and must be recovered only with an official court order for payment.
In the first serious study done linking foreclosures with health problems it has been found that a large number of people are being afflicted and soon this will become a national problem. The victims are suffering from acute depression and other health related problems. The counselors should broaden their advice to include not only finance but also mental guidance.
Everyone knows the market is a mess today. In some places houses have lost more than half of their inflated value, and with no jobs, bad mortgages, and crushing debt, all too many people are relocating, leaving a flood of empty or foreclosed homes in their wake. Contrary to what one might hear on the [...]
Banks are now shying away from foreclosures but troubles for the borrowers continue: Although the banks are now shying away from foreclosures the troubles for the borrowers are continuing. One of the victims is Michael Machack who suffered a back injury last September. For some time he lived off disability payment but when that stopped [...]
The Democrats are in a tight spot. In the mid-term elections, the Grand Old Party – the Republicans won a resounding victory. This has indeed dealt a jolt to the Obama government. This has sent many people to premature retirement. The main reason behind this has been the weak economy and the increasing foreclosures. The [...]
When the foreclosed houses are taken over by the banks they are known as real estate owned. These are often the best deals as they can be thoroughly inspected, are free from all liens and often come with generous discount offers. Adam Wiener of Redfin said “The buyers and their agents need to be on [...]
The US is experiencing one of its worst downturns. Unemployment is at an all-time high. As people lose jobs even those with very sound credit history are faltering on mortgage payments. Hence, banks are taking over the properties and foreclosures have become common. However, with the real estate scenario improving, foreclosures are declining. Take for [...]
Uncle Sam is desperate for funds and his tax arms are groping around to grasp the slightest slip, whether accidental or intentional to squeeze out the last dollar from the citizen. Foreign bank accounts, unemployment benefits, self employed individuals and even donations made will come under the microscopic scrutiny of Uncle Sam. The IRS is [...]