Foreclosure

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Desperate house buyersDesperate house buyers increase foreclosure riskincrease foreclosure risk

Feb
12
Nearly four out of 10 (38.1%) home buyers who bought houses in the first half of 2005 put down less than 5% of the purchase price, up from 30.6% in 2000, according to a study released by SMR Research, a Hackettstown, N.J., firm that tracks mortgage debt. Nearly half (49.9%) of buyers put down less than 10%, up from 44.8% in 2000.
HUD Homes Listings
New HUD Home listings go online late Thursday night or Friday morning. New Daily’s homes previously sold which did not go to settlement, go online Saturday morning. HUD homes not sold throughout the biding .....
An added potential red flag is the mounting use of so-called piggyback loans. Usually, home buyers who did not come up with a 20% down payment had to pay an added cost each month for private mortgage insurance. But lately, more strapped for cash borrowers are taking out two loans — one for 80% of the acquire price and a second, or piggyback, loan in the form of a line of credit or home equity loan. Consequently last year, nearly half (48.2%) of buyers used piggybacks, up sharply from 19.9% in 2001 .First Time Home Buyer Grants

The figures suggest that many home buyers are spreading their budgets well away from their means. The danger is that new buyers have such tiny equity in their homes that with prices falling down, they could be in debt more on their mortgages than their homes are worth.

Foreclosures

ForeclosureHUD VA REO Foreclosures Listings on the internet.

ForeclosureThe foreclosure information is updated on a regular basis, and whether you are buying or selling properties, this site introduces information that is of significance to potential and current Baltimore, Maryland area home buyers or sellers foreclosures