People are losing their homes and many more will lose their jobs before the mortgage meltdown works its way through the system.

To paraphrase Alan Greenspan’s remarks on March 17th, 2008, “The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War. The crisis will leave many casualties.”

How many casualties? Read the rest of this entry

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Bad Credit? You Can Still Get a Mortgage to Buy a House
 by: John R. Blakefield

Unfortunately bad credit can haunt you for the rest of your life. If there are bankruptcies or foreclosures on your credit report, you know how hard it is to get any line of credit. Lenders and creditors simply look to as a too big of risk to loan money to.

But we know that even though mistakes were made in the past, Read the rest of this entry

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Pre-Foreclosure and Foreclosure Home Buying in Atlanta
 by: Lucy Landley

Atlanta, GA- Buying a home in pre-foreclosure as opposed to
buying a home already in foreclosure can make a huge
difference to Atlanta homeowners in the outcome of the
situation. Georgia, being a predominately non-judicial
foreclosure state limits the amount of days a homeowner has
to find help when in foreclosure. (The state laws in Georgia
allow for both judicial and non-judicial proceedings in a
foreclosure, but non-judicial is more commonly used). Buying a
home in pre-foreclosure can put everyone involved in a
better position, rather than buying when the foreclosure
proceedings are far set in motion.

Read the rest of this entry

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This year, many first time homebuyers will enter the real estate market to buy a home. One of the main reasons for this is the phenomenal $8,000 tax credit available to first time homebuyers. If a homebuyer completes the purchase of a property between January 1, 2009 and December 1, 2009, he or she is eligible for this credit.

The U.S. government’s definition of first time homebuyer has an Read the rest of this entry

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Buying and selling foreclosed homes in “fixer-upper” condition can be a lucrative business if you follow four simple steps.

Key #1 – Good neighborhood: Pick areas where owners spend their time and money on their houses. Other qualities: well-maintained homes, streets with no junk cars or garbage, no or low-crime areas, convenient location, and active real estate market.

Key #2 – Start Read the rest of this entry

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