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Kent's Blog (2)

Risky foreclosures scare off homebuyers

Fewer Americans are willing to purchase a distressed home compared with six months ago, according to a new survey.

Now is not the time for Americans to start getting cold feet about buying foreclosures.

Not that their reasoning isn't 100% sound. Buying a foreclosure carries plenty of risks, and in some markets it will put you in competition with investors who are way out of your league.

But if foreclosure filings stay on track, more than 4 million U.S.… Continue

Added by kent on December 19, 2009 at 10:52pm — 2 Comments

A holiday foreclosure reprieve

Thousands of delinquent homeowners won't need to worry about eviction -- at least not until January.

Maybe the banks that put foreclosures on hold during the holidays really are doing the homeowners a favor. Maybe it really is out of a sense of holiday goodwill.

But, chances are, public relations plays a big role in the decision, too.

Citigroup announced yesterday that it will put foreclosures and evictions on hold through Jan. 17, and Freddie Mac and Fannie Mae also announced… Continue

Added by kent on December 19, 2009 at 10:48pm — No Comments

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