Traditional mortgage lenders will not loan more than 80 percent of the value of a home without the additional protection afforded by mortgage insurance. This is due to the increase in risk of default and foreclosure when borrowers have less than 20 percent equity in their homes at purchase.
The town has purchased the former Jumbo's Diner, 1 Main St., for $ 60,000 after being the only bidder at a foreclosure sale earlier this week. Town Supervisor David Spilman Jr. said the building's most recent owner, Tammy Groves, filed for bankruptcy last year. Foreclosure News
March 25–ERIE — Conneaut Lake Volunteer Fire Department has reached a tentative settlement agreement with its main creditor to resolve the fire department's Chapter 11 bankruptcy case. The fire department and Mercer County State Bank reached a potential settlement following an all-day mediation session on Wednesday, according to a report filed with U.S. Bankruptcy Court…
I get a surprising number of inquiries from people who want to buy bank owned property. During the height of the housing market crash foreclosures were plentiful. Foreclosure News
“When I first moved here, it was a beautiful building. It was a jewel,” says Benjamin Warren, a tenant association leader at 1511 Sheridan Avenue in the western Bronx. Foreclosure News
The 482-room Hilton Dallas Lincoln Centre is at the southeast corner of LBJ Freeway and the Dallas North Tollway. Lenders who are owned $ 75 million on the property have declared the hotel in default and have scheduled a possible foreclosure sale for next month. Foreclosure News
You've cut spending to the bone, sold excess stuff and hustled every side gig imaginable. But your emergency fund, if it ever existed, is on fumes. Foreclosure News
