Real Estate industry

Property and mortgage go together, and it’s likely that we find property more exciting than mortgage, although mortgage is a necessary evil. Almost everyone relies on mortgage and payment of loans when it comes to buying a house, and this is probably the best payment plan, but it results in foreclosure sometimes. “Foreclosure is a process that allows a lender to recover the amount owed on a defaulted loan by selling or taking ownership (repossession) of the property securing the loan.
The foreclosure process begins when a borrower/owner defaults on loan payments (usually mortgage payments) and the lender files a public default notice. ” (from http://agentcampus. blogspot. com/search/label/mortgage). The lender can then foreclose on the property and sell it to the public at a foreclosure auction. Unanticipated situations like loss of a job, medical expenses and other life-altering occurrences can happen to anyone, causing us to fall behind in our loan payments.
If we neglect paying our credit cards, it hurts our credit rating, but if we stop paying our home loan, the situation is even worse; the loss of a home. There is nothing to be embarrassed about when facing foreclosure. There are many ways to overcome it like reinstatement, forbearance, mortgage modification, repairing credit, and repayment plan, or selling the house can work too. With reference to an article, ‘Realtors team up to save homeowners from foreclosure’, published at txcn. com, it seems as the real estate agents are also willing to facilitate homeowners.

The realtors’ team, including couple Stacey and Michael Spickes, is helping homeowners to avoid foreclosure. The team is not only educating people over this issue, giving guidelines, sharing its professional and personal experiences but also generating opportunities and opening new learning ventures for agents to enter into this business. I believe that this effort can bring a sense of security to homeowners by putting them in a better position to deal with foreclosures. (from http://agentcampus. blogspot. com/search/label/mortgage).
Managing mortgages can be hard, especially for the first time-home buyers. Most people lack knowledge about mortgages and home buying, and overlook the financial gains of holding a mortgage. Accredited mortgage broker training also plays an important role. If buyers don’t find a competent loan officer, they could end up facing foreclosure, or short sale, as their mortgage plan will not be consistent with their purchase objectives and financial situation. Real estate agents are responsible for guiding their clients to find a proficient loan officer.
Real estate owner/brokers who operate under present disclosure consolidate sales operations through the creation of real estate consulting teams. This allows real estate professionals to expend more of their time, talents, and energies toward helping clients get the right mortgage and proper insurance coverage as opposed to simply tracing each others steps chasing potential clients. Equity plays in asset building for lower income households, and is an important store of wealth for low and moderate income (LMI) households. Home owners have so much at stake in being able to maintain homeownership.
Non-payment on a mortgage and being confronted with the prospects of losing one’s home is a potentially distressing situation for any family, despite that family’s income or wealth. However, it is likely to be a particularly severe setback for households who have moved into homeownership hoping to build assets to instead lose ground financially due to the damage of their credit records and loss of home equity that comes with mortgage foreclosure. Currently, there is not a national crisis in mortgage performance or in foreclosures.
However, in contrast to this seemingly unexceptional drift in the delinquency trend for the U. S. as a whole, some local areas have seen sharp increases in the share of mortgage loans in default in the past few years. Garcia (2003) found that the city of Buffalo experienced an increase in mortgage foreclosures of nearly 400% between 1990 and 2000; somewhat amazingly, the foreclosures were twice as likely to occur in the suburbs of the Buffalo-Niagara metro area. In like manner, Rose (2006) discovered that the Chicago metro area went through an increase in foreclosures of 54% between 1993 and 2005.
Employing a more graphic and methodical approach, Apgar and Duda (2004) established that 14,415 homeowners or nearly 1. 4% of homeowners with a mortgage that live within the city or county of Los Angeles lost their house to foreclosure between 2003 and 2006. Delinquency and foreclosure rates increased during the 2000 to 2002 period, most probably as a result of the 2001 recession. Over the past several years this broad overall measure has come down a bit as the share of loans 60 or more days delinquent has remained relatively steady, nonetheless, the foreclosure rate has declined a little.
Although sub-prime delinquencies and foreclosures (the top line) have gone down since 2003, they have gone up a few percentage points in the last several quarters. As in the prime market, the measure of foreclosures went lower after 2003, while delinquencies are relatively flat, on net, over the period. As of 2006:Q2, the share of sub-prime loans that were 60 or more days past due stood at 6. 25% and the share in foreclosure at around 2. 75%.

Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

At Solution Essays, we are determined to deliver high-quality papers to our clients at a fair price. To ensure this happens effectively, we have developed 5 beneficial guarantees. This guarantees will ensure you enjoy using our website which is secure and easy to use.

Money-back guarantee

Most companies do not offer a money-back guarantee but with Solution Essays, it’s either a quality paper or your money back. Our customers are assured of high-quality papers and thus there are very rare cases of refund requests due to quality concern.

Read more

Zero-plagiarism guarantee

All our papers are written from scratch and according to your specific paper instructions. This minimizes any chance of plagiarism. The papers are also passed through a plagiarism-detecting software thus ruling out any chance of plagiarism.

Read more

Free-revision policy

We offer free revisions in all orders delivered as long as there is no alteration in the initial order instruction. We will revise your paper until you are fully satisfied with the order delivered to you.

Read more

Privacy policy

All data on our website is stored as per international data protection rules. This ensures that any personal data you share with us is stored safely. We never share your personal data with third parties without your consent.

Read more

Fair-cooperation guarantee

Ordering and sending money to us is an indication that you are purchasing our products and services. To have business talks laid out in the official language, you can check on our terms and conditions and get more information about this.

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Order your essay today and save 20% with the discount code: LEMONADEPlace Order