Foreclosures continue to plague housing market

NEW YORK (CNNMoney) — Foreclosures continued to plague the U.S. housing market last quarter, while a a growing backlog has caused the length of the foreclosure process to drag on and on. Nationwide, foreclosure filings totaled 610,337 in the third quarter, an increase of less than 1% from the previous quarter, said RealtyTrac, an online […]

The Drawbacks to Buying Foreclosures

Price-conscious home buyers are lured by the low prices advertised for properties in foreclosure. They hope to show up at the auction and win the lowest bid. However, many of these homes are not available for inspection prior to purchase. Is it smart to buy a home that you cannot inspect? Could be if the price was […]

5 tips for buying a foreclosed home

Buying a foreclosed home is a little different from buying a typical resale 5 steps to buying a distressed property Get preapproved for a mortgage. Find an agent specializing in foreclosures. Know how long it takes to sell a home in your price bracket. Study the sale prices of comparable homes in your area. Remember […]

Sidestep landmines that can lead to foreclosure

There’s almost nothing more stressful – and more soul-crushing – than the specter of losing your home because you can no longer keep up with your mortgage payments. Thousands of homeowners across the United States are living with this fear, and many of them are convinced that it’s too late to avoid the worst. That, […]

Should We Walk Away From Our Home?

Question: Should We Walk Away From Our Home? A reader asks: “My husband and I bought a home at the height of the market and now it is worth less than we paid for it. Not only has our value dropped, but we owe more to the mortgage company than our home is worth.We both have good […]

10 Ways to Protect Your Neighborhood From Foreclosure Crime

When your neighbor’s home goes into foreclosure, it’s generally foreclosed by the bank quietly and with little fanfare. In a falling real estate market, many banks are understaffed and unprepared to handle the huge volumes of foreclosures, which means that home may not go back on the market for months, maybe years. But that doesn’t […]

Tips for Avoiding Foreclosure

Note: This US based article may provide tips applicable to us in the Philippines looking for foreclosed properties. Take it with a grain of salt :) Are you having trouble keeping up with your mortgage payments? Have you received a notice from your lender asking you to contact them?. If you are unable to make […]

PNB comes down from ivory tower

The Philippine National Bank was established in 1916 as a bank of the people. It was for some years. After the Second World War, PNB slowly became the bank of the then powerful sugar block, fired by Parity Rights for American citizens and preferential sugar price under the Laurel Langley Agreement. Under private ownership headed […]

How do you buy foreclosed properties in the Philippines?

The most popular way to buy foreclosed properties in the Philippines would be through banks. These are commonly referred to as bank acquired assets. You can submit a purchase proposal – and win through first come first serve basis – which means your bid comes first and is satisfactory, then you win. On the other […]