Hi, this may sound like a dumb question; but I bought my home for 0,000 3 years ago, since then pretty much 80% of the houses in my community have been forclosed on due to idiots signing up for sub-prime mortgage lenders. after the forclosure HUD buys out the bank note and then sells the homes for like ,000 – ,000 each!! according to an appraisal based on this my home is now only worth 0,000 (based on HUD selling the homes around me for next to nothing) is there anything I can do? I feel terrible for the idiots who got caught up in sub prime lending but what about the people with excellent credit who always pay their bills on time?
Tags: 3 years, Buy HUD Homes, dumb question, forclosure, HUD, sub prime lending, sub prime mortgage, sub prime mortgage lendersPosts Tagged ‘sub prime mortgage lenders’
Can you sue HUD (housing and urban dev.) for killing your home value?
Thursday, June 18th, 2009Search :
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Enlist the help of your sub prime mortgage lender (he or she does not want you to lose this property, as undoubtedly they will lose some of their cash too, if you go under.) Your sub prime mortgage lender may even know of a way to help ...
This entry was posted on Wednesday, March 17th, 2010 at 9:45 pm and is filed under Sub-prime Mortgage. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site. ... After 911, many lenders were offering extremely low interest rates on their loans. This enticed many Americans to take advantage of the sub prime interest loans. However, with the economic downturn, the interest rate fluctuations and ...
In this case the culprit was a financial instrument called a collateralized loan obligation, which helped issuers repackage corporate loans much as subprime mortgages were sliced, diced and then resold to other investors. ...
Subprime lending encompasses a variety of credit instruments, including subprime mortgages, subprime car loans, and subprime credit cards, among others. The term "subprime" refers to the credit status of the borrower (being less than ...
Although the credit situation have become tremendous after sub-prime, mortgage breakdown many lenders move back and forth from haphazard to overly traditional practices, automotive dealers say that misconception, more than true ...
My friend contends that people who used the first-time buyers tax credit when it first came out as a down payment and took out a FHA low-down-payment mortgage are the new subprime borrowers. ... And FHA IS allowing some of its certified lenders to give buyers loans backed by the tax credits. Here in New Jersey, buyers can go to the New Jersey Home Mortgage Finance Agency to borrow up to $5000 against their tax credit, and I blogged about this last year. ...
TO) and four executives, including Chief Executive Gerald McCaughey, of misleading investors about the bank's exposure to subprime mortgages. Judge William Pauley of Manhattan federal court rejected claims on Wednesday in the class-action case that ... He noted many lenders failed to forecast the meltdown that led to Lehman Brothers Holdings Inc's (LEHMQ.PK) demise and the end of Bear Stearns Cos' and Merrill Lynch & Co's independence, as well as massive losses industrywide.
When regulators were making decisions about how to deal with the crisis of 2008, the problem was less their blindness about the sub-prime mortgage bubble than their inability to envision a different kind of financial system and the ...
The Democrats created the ?subprime mortgage? with passage of the CRA in '77, They also created Freddie Mac and Fannie Mae to coax banks into making these risky loans? backed with the full faith and credit after all. ...
The depressed condition in the real estate business and the sub-prime mortgage meltdown has led to the creation of a new phenomenon in the real estate industry-a long foreclosure list. Those with enough equity should explore investment ... In general, the foreclosed real estate properties are sold at prices that are lower than the real value as mortgage lenders are pressed to dispose of these assets to ease their liquidity problems. A good buy would normally constitute to ...