Wednesday, April 02, 2008

Foreclosure News

Today I've been craving more news on foreclosures. And boy howdy, did I find some goodies.

Trashing the House after a Foreclosure. Sometimes homeowners destroy their foreclosed homes before they leave. I've seen this quite a bit actually. Entire kitchens will be removed, not just the appliances, but the kitchen island too. Sometimes all the bedroom doors will be removed. Toilets, medicine cabinets, drawers and the like are all missing. Click here to read more from the Wall Street Journal.

Congress Voices Urgency to Help Homeowners at Risk of Foreclosure. The Senate voted 94-to-1 on Tuesday to move forward with a package of housing legislation. The measures in the package include an expansion of mortgage counseling, money for local governments to buy foreclosed properties, and a contentious provision that would allow bankruptcy judges to modify the terms of loans on primary residences. The aim is to forestall further collapse in the housing and residential mortgage markets and safeguard the broader economy from a worsening downturn. This is great news, but at the same time, I'm sure that they will restrict their assistance to only a section of the homeowners who fit their strict requirements. Click here to read more from The New York Times.

~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com

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