Texas is non judicial foreclosure state, which permits Foreclosure Trustee Sale. This is quicker process quicker process for mortgage lenders, which do not require the involvement the ruling of a court. It means the lender can bring the home for distress sale through a Third Party Trustee, in less than 6 to 9 months, by [...]
In an attempt to avoid losing their homes to foreclosure, the number of homeowners filing for bankruptcy protection has increased. Unfortunately, this attempt doesn’t bring the desired results in most cases. Based on post-bankruptcy data available for 60 Texas counties, the Addison-based Foreclosure Listing Service came out with a report that states that real estate [...]
The Austin metropolitan region saw a steep increase in the rate of commercial real estate foreclosure in 2009, beating the figures of many other important cities in the state of Texas. According to a report based on the foreclosure listings by Foreclosure Listing Service Inc., it was found that there was a 108% jump in [...]
While Austin witnessed an increase of 29% in 2009, the New Year has brought some relief to the residents of this city. According to RealtyTrac Inc. the area of Austin and Round Rock with an increase of almost 40% foreclosures during 2008-2009, took the No. 117 rank on the list of 203 cities with the [...]
Report: Texas banks outperform the others – Birmingham Business Journal A new report from merger and acquisitions advisory firm Sheshunoff and Co. Investment Banking says Texas banks are outperforming the rest in the nation despite the economic downturn. The report does concede that new foreclosures and job losses will Source: www.bizjournals.com
Austin-based Guaranty Financial Group Inc. missed a Thursday deadline set by federal regulators to submit a strategy for its future. Last month, the Office of Thrift Supervision ordered Guaranty to submit the plan. The regulator said Guaranty and its subsidiary Guaranty Bank had “engaged in unsafe and unsound banking practices.” Regulators also said the company’s [...]
Austin-based Guaranty Financial Group Inc. faces a crucial deadline this week that could determine whether it will remain independent, have its assets liquidated or be absorbed by another financial institution. On Thursday, Guaranty is due to submit a plan for its future to the Office of Thrift Supervision. The regulator has said Guaranty has “engaged [...]
The government will pay mortgage-servicing companies up to $1,000 and borrowers up to $1,500 for successful short sales or “deeds in lieu” transactions. It will also spend up to $1,000 to help defray the cost of getting holders of second mortgages to release their liens so these transactions can be completed. Short sales have accounted [...]
