New York Shadow Inventory
Shadow Inventory
The Wall Street Journal had a very interesting article written by Nick Timiraos (a link to the article is provided below) regarding shadow inventory. The article talks about interesting topics such as the decrease in the new homes being built and its effect on investor interest in REO (bank owned properties) properties. Freddie Mac analysts are citing the reduction in new home building as a reason why the once assumed over saturated “shadow inventory” is not smothering and hampering the housing recovery.
The Wall Street Journal – August 16, 2012
Foreclosure Defense Attorneys
If you are considering a foreclosed property as an investment and have questions, please call the Law Firm of Vaughn, Weber & Prakope, PLLC at 516-858-2620 to speak to an attorney.
Foreclosure Defense and Loan Modifications
Recently we have experienced an increase in the number of our clients receiving loan modifications. These modifications are both HAMP and In-House, temporary and permanent. The cause is unknown but for our clients, it doesn’t matter why. They are just grateful that it is happening. As the foreclosure world is still in shock with the announcement of the impending closing of Steven J. Baum, P.C., the increase in loan modifications is a good sign for distressed homeowners. There was never as good a time to defend against foreclosure litigation. Hopefully the new year will bring more of the same. These modifications are not good for everybody however. Each modification should be reviewed with an attorney to decide if the terms of the modification are right for your situation. If you are currently in foreclosure or in danger of falling into foreclosure, and you have any questions, please call the Law Firm of Vaughn, Weber & Prakope, PLLC at (516) 858-2620 to speak with a Foreclosure Attorney!
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