The foreclosure crisis that we are currently witnessing is one of the greatest economic tragedies that we have seen in America in modern times. Millions of people are getting kicked out of their homes, and the U.S. government and mortgage lenders are providing little to no real help. It is a real shame to see so many American families get dumped out on to the street because of the greed of a few. And unfortunately, foreclosures in the United States continue to set new records. The number of foreclosures set another all-time record for the second consecutive month in May. In addition, the number of newly initiated foreclosures rose 18.6 percent to 370,856 during the first quarter of 2010. What that means is that the foreclosure crisis is getting even worse. Tens of millions of Americans desperately need foreclosure help, but pretty much nobody seems interested in helping them. Foreclosure horror stories are multiplying as large numbers of American families are struggling to pay mortgages that they didn't understand and couldn't afford in the first place. Unless someone steps forward to help the tens of millions of Americans that are in danger of foreclosure, the tragedy is going to end up being unspeakable. (Read More.....)
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What a mess the U.S. housing market is! RealtyTrac has announced that foreclosure filings in the U.S. 
Falling behind on your mortgage is a very serious event in any persons life. I am here to tell you there are many ways to save your home before you get to the point of eviction. In some states it takes up to 12 months before the eviction process happens, and in other areas it can happen as soon as 30 to 90 days. Texas residents could find the foreclosure process completed in only around 45 days. It greatly depends on the law and the mortgage holder and how aggressively they pursue your case. 
Reality Trac had commented that 70% of current mortgage defaults are currently not listed in MLS, they are kept off the books because it would impact the economy which would cause catastrophe in the stock markets and our dollar. Up to 9 million homes may enter foreclosure over the 2009-2011 period, versus one million in a typical year. At roughly U.S. $50,000 per foreclosure according to a 2006 study by the Chicago Federal Reserve Bank, 9 million foreclosures represents $450 billion in losses 
Home prices are falling, and now, more than ever todays buyer has to be well informed. With many foreclosures on the market, and even more to come in 2010 & 2012, it is giving buyers more negotiating power. Financing has become much more difficult, as the "easy loan days" are about over as more homeowners default on their mortgages. Today's buyer has to be cautious and conservative in buying a home they can afford while making a smart purchase. Here are 35 tips common mistakes Home buyers make. 
Increasing your FICO score may take time and often there is no quick fix. FICO scores reflect credit payment patterns over time with an emphasis on recently reported information than older information. There is good news, your old credit doesn't last forever. FICO scores range from 300-850, and most people score in the 600s and 700s. FICO credit scores above 700 are very good and a sign of good financial health. FICO scores below 600 indicate high risk to lenders. If you are looking for a home or car loan, lenders typically practice tiered pricing, with interest rates rising as scores go down. If lenders have their best rates offered to borrowers with a score of 700 or higher and yours is a 698, those two points could cost you thousands of dollars.