Foreclosure1 Blog

The foreclosure has taken the country by storm. The story began with the introduction of the sub-prime loan to accommodate those who, due to bad credit history, could not avail of the prime loans. In the latter one must make a down payment and show proper source of income in proportion to the loan being […]

The sub-prime market was created for those with bad credit and could not qualify for prime loans. It was hoped that by introducing it all and sundry would benefit and become a house owner. But nobody took into account the greed and predatory nature of Man trying to squeeze and choke another. When interest rates […]

There are 236 zip codes in the Bay area; of these, 25 have gone into the red with foreclosures closing in like pincers. The epidemic is concentrating in certain localities inhabited by the marginalized minorities and in places where there has been hectic building activity in the recent past. It was inevitable that the house […]

Investors as well as house hunters are shying away from buying foreclosed houses. In Nassau and Suffolk the foreclosure numbers have risen by 27.4% and 14.4% respectively. But the number of houses has not buoyed up the real estate market. Investors are playing a wait and watch game. The situation is so grim that during […]