Possible Moratorium on Foreclosures

WASHINGTON (Info from this article at MarketWatch) - Senate Banking Committee Chairman Christopher Dodd on Thursday discussed his financial regulatory reform program, which includes a proposal that would put a moratorium on foreclosures for up to 90-days. In a meeting with reporters, Dodd said the banking committee would try to have regulatory reform legislation ready by April, a deadline sought by President Obama. Dodd also said he "wouldn't be surprised" if the Treasury Department makes a request to Congress for more funds for a financial recovery program to create a government so called "bad bank" used to buy illiquid mortgage securities. Dodd also said that the Banking Committee will likely consider attaching a controversial provision that would give bankruptcy judges the authority to modify mortgages to an $825 billion stimulus bill

Foreclosure numbers for the worst hit areas in 2008

Worst hit areas

The three states hit hardest by foreclosure in 2008 were Nevada, Florida and Arizona. In Nevada, 7% of homes received a foreclosure filing - such as a notice of default, auction sale notice or foreclosure sale - during the year, up 126% from 2007.

Florida filings soared 133%, hitting more than 4.5% of all households, while Arizona filings jumped 203%, also to about 4.5%. California had the highest total number of filings for any state, 523,624, more than double 2007 levels.

Stockton, Calif. had the highest rate of foreclosures of any metropolitan area, at 9.5%. Las Vegas was second with 8.9% and Riverside/San Bernardino Calif. was third with 8%.

Of the top 20 cities for foreclosures, most are in the Sun Belt, with the exception of Detroit at number 10, Memphis, which ranked 18th and Denver which was 19th.

Taken from MSNBC article

JP Morgan expands help to real estate investors

This just came out, click here to read the story

VA Owned Home Deal of the week

Just reduced 10k
Property Type Residential Price $ 153,900
Region 05-RIVERSD/AVONDAL/ORTEGA/ WESCONNETT Area 054-YUKN/WESC/OAK H
Parcel # 098927 3190 Subd-Legal VILLAGES @ WESTLAND
Common VILLAGES @ WESTLAND Association Fee Y
Assoc Fee $ 210 Assoc Fee Freq Annually
CDD Fee Y/N N CDD Fee 0.00
Bedrooms 3 Full Baths 2
Half Baths 0 Bdrms Conform Y
Approx. Heated SqFt 2,051 Year Built 2004
Appx. Lot Dimensions 0.17 Waterfront Y/N N
Navg. Wtr Frnt Y/N N
Home is turn key ready, spotless, only downside is it backs up to a man made pond, and not a lot of back yard, however great house, nice floor plan, split bedrooms, lots of sqft.
Remarks:This one is in ''move-in'' condition. Fireplace in family room, backs to a serene pond. ***VA Owned***, being sold ''as-is''.
ype of Dwelling: Sngl. Fam.-Detached
Square Foot Source: Tax Roll
Bath: MBR Bath Tub Sep Stl; Garden Bath
Dining: Separate Dining Room
Kitchen: Breakfast Bar
Major Appliances: Range Electric; Microwave; Dishwasher; Refrigerator Fireplace: 1 Fireplace
Type of Heating: Central Heating
Type of Cooling: Central Cooling
Utilities: Water - Public; Sewer - Public
Water Heater: Electric Water Heatr
Style: Ranch
Structure: Wood Frame
Exterior Wall: Brick Accent
Roof: Shingle Roof
Pool/Hot Tub: No Pool Parking Facilities: Attached Garage; 2 Car Garage
Approx Parcel Size: Less than 1/4 Acre
Lot Description: Regular Lot
Presently Zoned: Residential
Road Frontage: City Street
Road Surface: Asphalt Road
Possible Financing: Will Consider FHA; Will Consider VA; Conventional; Cash
Title Status: VA Owned
Occupancy: At Closing

Buying a short sale or a Foreclosure

Found an article on the WSJ today, a question and answer article.
Decent info here from an unbiased source..
Click HERE to read the Q&A

Today's Deal 4/2 2250sqft 174K

3419 Volley Ct in Jacksonville
$174,900

4 Bedrooms
2 Baths
Sq Ft: 2240

MLS# 454564

Foreclosure REO
Fort Caroline Jacksonville FOreclosure
Features
List Date: 11/21/08 Garage: Attached Garage Subdivision: Forest Hills
Approx Parcel Size: Less than 1/4 Acre Assoc. Fee: $120.00, Annually Total Baths: 2.00
Lot Description: Regular Lot Cooling: Other Cooling Property Description: Sngl. Fam.-Detached
Heating: Other Heating

GREAT BUY FOR LOCATION, QUICK DRIVE TO MAYPORT, AND DOWNTOWN JACKSONVILLE.
CONTACT DIANE HAYES W/ THE BROXSON TEAM AT RE.MAX SPECIALISTS FOR MORE INFO.
904-881-5354

Deal of the week!

Status Active Property Type Residential Price $ 154,900 Region 09-NORTH JACKSONVILLE Area 091-GARDN CTY/AIRPORT Parcel # 044274 1150 Lot 17 Subd-Legal VICTORIA POINTE Common VICTORIA POINTE Association Fee Y Assoc Fee $ 682 Assoc Fee Freq Annually CDD Fee Y/N N CDD Fee 0.00

Bedrooms 5 Full Baths 2 Half Baths 0 Bdrms Conform Y Approx. Heated SqFt 2,147 Year Built 2006 Appx. Lot Dimensions 0.53 Waterfront Y/N N Navg. Wtr Frnt Y/N N

New Construction Y/N N Homestead N Gated Community N Historic Area N Mobile/Mfg Home N

Directions:From 95, south on I-295, exit south on Duval Road, approx 1 mile, left into Victoria Pointe, left at Tori Lane. Remarks:Priced to sell, almost new home ready to move into. 4 bedrooms plus bonus room upstairs on large preserve lot. Bank owned being sold ''as-is''.

We just sold a home down the street for about the same pricing, home went quick.
DON'T WAIT!
contact Diane Hayes 904-881-5354 to schedule an appt.

New REO Properties in Jacksonville for sale

--------------------------------------------------------------------------------
Property Status: LISTED (available for sale now)

Zip Code: 32218

Loan: 329079433 Address: 3598 JACOB LOIS DRIVE, JACKSONVILLE, FL
Rooms: 11 Bed: 4 Bath: 3.0 Price: 192,500.00

Zip Code: 32222

Loan: 328185019 Address: 6587 HARMON HILLS COURT, JACKSONVILLE, FL
Rooms: 7 Bed: 3 Bath: 2.0 Price: 144,900.00

Zip Code: 32257

Loan: 524397007 Address: 4741 REED AVE, JACKSONVILLE, FL
Rooms: 6 Bed: 3 Bath: 2.0 Price: 209,900.00

Zip Code: 32258

Loan: 304329231 Address: 12700 BARTRAM PARK BLVD1434, JACKSONVILLE, FL
Rooms: 6 Bed: 2 Bath: 2.0 Price: 87,500.00