Bank of America has announced an $8.5B plan to help Countrywide borrowers avoid foreclosure.

Options available under the plan include locking in subprime teaser rates for 5 to 10 years, switching to interest only loans, or switching to a fixed APR as low as 3.5%.

Full Story:
Countrywide Foreclosure Avoidance Plan

Maricopa County, Arizona foreclosure listings set a new record with 2,210 new notices in one week in mid-September. 

One scary thing about the figures is that the number of new foreclosure notices out-paced the total home sales in the county during the same period.

The house passed the bailout package and President Bush signed it into law.  Now the hard part begins - how to put the new legislation into action.

Absolutely tragic, 90 year old woman shoots herself twice as sheriff's deputies tried to evict her from her home.

90 Year Old Woman Shoots Self in Her Foreclosed Home

Distress Sales resulting from bank foreclosures often represent a great way to get a fantastic deal on a Destin home. It's not easy for the average buyer to find these deals, because you have to keep scouring the paper to see when one comes up. Destin foreclosures have become more prominent with the current problems in the mortgage industry.

If you're the type of person who recognizes what a great deal some of these properties could represent, you will be interested to know about a new free computerized service which automatically searches out and downloads a current list of all such properties day in and day out. When you receive this free, no obligation service, you're automatically plugged in to the most current list of Destin Foreclosure Properties on the market, in the price range and area that interests you. This FREE service every week will save you a lot of research and running around.

Here's how it works. Every week, you will receive a FREE computerized report listing the current Destin foreclosure properties in your desired price range and location. There is no cost for this information, and absolutely no obligation. This insider information, sent to you in an incredibly simple and efficient format, will give you a huge advantage over other buyers in the marketplace. I keep an updated page with links to all of the current Destin Foreclosures at all times.

With the rise of short sales, foreclosures, and distress sales this has become the ultimate way to buy Destin Real Estate. Stay on top of the Destin foreclosures and you will find the best deals around. Whether you are looking for a Destin foreclosure home, a Destin foreclosure condo, or any other Destin foreclosure then you have come to the right price.

If you are interested in foreclosures or distress sales in Destin, Miramar Beach, Sandestin, Santa Rosa Beach, Blue Mountain Beach, Grayton Beach, Watercolor, Seaside, Seagrove Beach, Watersound, Seacrest Beach, Rosemary Beach, or Inlet Beach then let me know. With a large selection of short sales and foreclosures on the market right now it creates the perfect opportunity for those who want to own in this area. These incredible deals won't last forever so the time to act is now!

www.JoshMcleanHomes.com

New York State's Foreclosure Prevention Working group is reporting that current foreclosure relief strategies are falling short and many homeowners who are getting assistance and loan modifications are falling back into foreclosure.

Full Story:  Foreclosure Relief is Failing

Can someone please tell me why you bring a vote like that to the floor without knowing for certain that it will pass?

Regardless of the bill's merits or lack there of, you don't vote on a bill that has any chance to fail in an environment where confidence is as shaky as it is right now. 

My $.02 cents, would love to know what you think.

Try:

Stop Home Foreclosure

Unrelated, but also helpful:

Foreclosure Listing Reviews

You are right Lizandjer... this is the right time to invest in real estates...

Think the recent market downturn is the perfect time to go on a spending spree snapping up rental properties?  It probably is, but this Wall Street Journal article serves as a cautionary tale about the challenges of owning and more importantly maintaining a large portfolio of rental properties. 

Redbrick Partners Looking to Sell Rental Properties