MIAMI, Fla. /Florida Newswire/ — ForeclosureDeals announces that their comprehensive foreclosure listing website continues to provide people with significant foreclosure listing leads. The most recent move to meet the foreclosure crisis was the Treasury Department’s announcement that it is taking the first steps of action in addressing the loan modification program. The Homeowner Affordability and Stability Plan will aid approximately 9 million families to restructure or refinance their mortgages to avoid foreclosed homes.
The two-part plan, unveiled in February, calls for lenders to reduce monthly payments to no more than 31 percent of eligible borrowers’ pre-tax income or to refinance eligible mortgages even if the homeowner has little or no equity.
The government is allocating $75 billion to subsidize part of the payment reductions, as well as provide thousands of dollars in incentives for lenders and borrowers to participate.
Among the largest banks to take part are JPMorgan Chase, Wells Fargo and Citigroup.
In a story reported on CNNMoney.com, President Obama said he sees “glimmers of hope” in the economy. But he tempered that by saying, “We’re not out of the woods just yet.”
So, while the economy is showing some signs of recovery, the real estate industry is still in crisis and people continue to be pushed into foreclosed homes.
“Our goal is to provide people who want to save significant money on their next home with the most comprehensive and up-to-date foreclosure listing website available,” James Fox, Investment Analyst for ForeclosureDeals.com, says.
And, now is a good time to invest because of the number of homes available, nationwide. Many people are selling their homes to avoid home foreclosure.
ForeclosureDeals provides property seekers with a database of more than 1.5 million properties, nationwide. Foreclosure listings are updated and refreshed daily and include properties for well below market value.
This foreclosure listing website offers customized searches with exclusive filter options; and other valuable information about surrounding properties that include data on cost of living, median income, population demographics, and more.
For more information, visit: www.ForeclosureDeals.com.