The Real Estate Bloggers

Live Over a Year For Free In Your Foreclosure

Posted: 01 Jun 2010 03:37 AM PDT

Moneyhousemedium Do you want to hear a scary statistic.

Neither do I but I have to share.

For those in foreclosure and still live in their house the average time for evictions has risen to 438 days. That is right, over a year and 3 months is the average time it takes a bank to foreclose and evict the previous owners. That is up from about 8 months a year ago.

Now be careful if you think you want to try this strategy. Some states can foreclose much faster than others, and some banks have the manpower to complete a foreclosure in a timely manner.

However, if you are broke and in trouble and you know you are going to lose your house, it may make sense to stick around “rent free” for a while instead of immediately turning the house over to the bank.

You could be saving up for the big deposit you will need on a rental house or apartment.

The average borrower in foreclosure has been delinquent for 438 days before actually being evicted, up from 251 days in January 2008, according to LPS Applied Analytics.

While there are no firm figures on how many households are following the Pemberton-Reboyras path of passive resistance, real estate agents and other experts say the number of overextended borrowers taking the “free rent” approach is on the rise.

There is no question, though, that for some borrowers in default, foreclosure is only a theoretical threat for a long time.

More than 650,000 households had not paid in 18 months, LPS calculated earlier this year. With 19 percent of those homes, the lender had not even begun to take action to repossess the property — double the rate of a year earlier . via NYTimes.com

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Live Over a Year For Free In Your Foreclosure

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Memorial Day is Not All About the Picnics

Posted: 31 May 2010 06:18 AM PDT

It about all of those who served and made the ultimate sacrifice protecting the values that we hold so dear.

Few times have I been awestruck in my life.

One of those times was while traveling in France in the Champaign region. I came around a corner near a small town on a narrow twisting road. There in front of me was a huge cemetery, the Oise-Aisne American Cemetery and Memorial. 6,012 American soldiers buried fighting overseas for others ability to live free from tyranny. Sons and fathers, brothers and husbands making the ultimate sacrifice buried in a foreign land. In a foreign field.

These are the men that we honor today.

Oise-Ainse-cemetery

Memorial_day_2

Memorial-day-tombstones-2

The history of Memorial Day.

Thanks for reading this post. If you would like to see more articles like this, please come visit The Real Estate Bloggers. where it was originally published.

Memorial Day is Not All About the Picnics