Facebook shares sink 11 percent as reality overtakes hype(Reuters) - Facebook shares sank 11 percent in the first day of trading without the full support of the company's underwriters, leaving some investors down almost 25 percent from where they were Friday … More »Facebook shares sink 11 percent as reality overtakes hype
(Reuters) - Facebook shares sank 11 percent in the first day of trading without the full support of the company's underwriters, leaving some investors down almost 25 percent from where they were Friday and driving others to switch back to more established stocks. Facebook's debut was beset by problems, so much so that Nasdaq …
Yahoo clears a hurdle, sells Alibaba stake for $7.1 billionSHANGHAI/NEW YORK (Reuters) - Yahoo Inc will sell as much as half of its 40 percent stake in Chinese e-commerce powerhouse Alibaba Group for $7.1 billion, ending years of fractious talks over how to extract … More »Yahoo clears a hurdle, sells Alibaba stake for $7.1 billion
SHANGHAI/NEW YORK (Reuters) - Yahoo Inc will sell as much as half of its 40 percent stake in Chinese e-commerce powerhouse Alibaba Group for $7.1 billion, ending years of fractious talks over how to extract value from its most prized asset. Yahoo also increased its stock buyback authorization by $5 billion to $5.5 billion …
Wall Street rebounds, but investors dump FacebookNEW YORK (Reuters) - Stocks rose more than 1 percent on Monday, with the S&P 500 snapping a six-day losing streak in a rebound from equities' biggest weekly drop in almost six months, but Facebook slumped … More »Wall Street rebounds, but investors dump Facebook
NEW YORK (Reuters) - Stocks rose more than 1 percent on Monday, with the S&P 500 snapping a six-day losing streak in a rebound from equities' biggest weekly drop in almost six months, but Facebook slumped in its second session after a disappointing debut. Tech shares were among the day's biggest gainers, with an S&P sector …
Apple still dominates world's top brands: study(Reuters) - Apple has maintained its place as the world's most valuable brand over the past year, leading a group of technology-related companies that dominate the top 10, according to a study published … More »Apple still dominates world's top brands: study
(Reuters) - Apple has maintained its place as the world's most valuable brand over the past year, leading a group of technology-related companies that dominate the top 10, according to a study published on Tuesday. The iPhone and iPad maker has boosted its brand value by 19 percent in the past year to $183 billion, or 37 …
Exclusive: U.S. lets China bypass Wall Street for Treasury ordersNEW YORK (Reuters) - China can now bypass Wall Street when buying U.S. government debt and go straight to the U.S. Treasury, in what is the Treasury's first-ever direct relationship with a foreign government, … More »Exclusive: U.S. lets China bypass Wall Street for Treasury orders
NEW YORK (Reuters) - China can now bypass Wall Street when buying U.S. government debt and go straight to the U.S. Treasury, in what is the Treasury's first-ever direct relationship with a foreign government, according to documents viewed by Reuters. The relationship means the People's Bank of China buys U.S. debt using …
Silicon Valley takes Facebook fizzle in strideSAN FRANCISCO (Reuters) - Facebook's lackluster initial public offering performance is a black eye for many on Wall Street and could have ramifications for similar upcoming deals such as an offering by … More »Silicon Valley takes Facebook fizzle in stride
SAN FRANCISCO (Reuters) - Facebook's lackluster initial public offering performance is a black eye for many on Wall Street and could have ramifications for similar upcoming deals such as an offering by Twitter, but venture capitalists in Silicon Valley are keen to shrug off Facebook's stumble - at least for now. ...
Flurry of arguments start Gupta insider-trading trialNEW YORK (Reuters) - Former Goldman Sachs director Rajat Gupta "threw away his duties" by divulging bank secrets to hedge fund manager Raj Rajaratnam, a U.S. prosecutor said at the start of Gupta's insider-trading … More »Flurry of arguments start Gupta insider-trading trial
NEW YORK (Reuters) - Former Goldman Sachs director Rajat Gupta "threw away his duties" by divulging bank secrets to hedge fund manager Raj Rajaratnam, a U.S. prosecutor said at the start of Gupta's insider-trading trial on Monday. The defense punched back that the government had no direct evidence. Gupta, 63, once a boldface …
U.S. lawmakers frustrated in Wal-Mart corruption probeWASHINGTON (Reuters) - U.S. lawmakers investigating Wal-Mart Stores Inc for alleged bribery in Mexico are frustrated by the lack of cooperation they have received from the company, a committee staffer … More »U.S. lawmakers frustrated in Wal-Mart corruption probe
WASHINGTON (Reuters) - U.S. lawmakers investigating Wal-Mart Stores Inc for alleged bribery in Mexico are frustrated by the lack of cooperation they have received from the company, a committee staffer familiar with the investigation said. Attorneys for Wal-Mart briefed the committee earlier on Monday about the company's …
Insight: Morgan Stanley cut Facebook estimates just before IPO(Reuters) - In the run-up to Facebook's $16 billion IPO, Morgan Stanley, the lead underwriter on the deal, unexpectedly delivered some negative news to major clients: The bank's consumer Internet analyst, … More »Insight: Morgan Stanley cut Facebook estimates just before IPO
(Reuters) - In the run-up to Facebook's $16 billion IPO, Morgan Stanley, the lead underwriter on the deal, unexpectedly delivered some negative news to major clients: The bank's consumer Internet analyst, Scott Devitt, was reducing his revenue forecasts for the company. The sudden caution very close to the huge initial …
- Some investors still await confirmation on Facebook orders
NEW YORK (Reuters) - Some customers of Fidelity Investments, Morgan Stanley and Charles Schwab are still waiting to see if their trades for Facebook shares were completed on Friday. Massive demand for … More »Some investors still await confirmation on Facebook orders
NEW YORK (Reuters) - Some customers of Fidelity Investments, Morgan Stanley and Charles Schwab are still waiting to see if their trades for Facebook shares were completed on Friday. Massive demand for the social networking giant's initial public offering on Friday, which set a trading volume record for U.S. market debuts, …
- Facebook stock slide puts new pressures on company
SAN FRANCISCO (Reuters) - Facebook Inc's underwhelming debut on Wall Street increases the pressure on the social networking giant to deliver stellar growth - a novel situation for Chief Executive Mark … More »Facebook stock slide puts new pressures on company
SAN FRANCISCO (Reuters) - Facebook Inc's underwhelming debut on Wall Street increases the pressure on the social networking giant to deliver stellar growth - a novel situation for Chief Executive Mark Zuckerberg, who has been clear he is more interested in building products than making money. Facebook shares fell 11 percent …
- Eaton to buy Cooper Industries for $11.8 billion
(Reuters) - Diversified industrial manufacturer Eaton Corp struck a deal to buy electrical equipment maker Cooper Industries Plc for $11.8 billion in cash and stock and said it would shift its incorporation … More »Eaton to buy Cooper Industries for $11.8 billion
(Reuters) - Diversified industrial manufacturer Eaton Corp struck a deal to buy electrical equipment maker Cooper Industries Plc for $11.8 billion in cash and stock and said it would shift its incorporation to Ireland to save on taxes. The deal, Eaton's biggest ever, will allow the company to offer a broader range of electrical …
- Nasdaq announces plan for unfilled Facebook orders
NEW YORK (Reuters) - Nasdaq has engaged federal regulators to untangle the problems that occurred at the opening of Facebook Inc's initial public offering on Friday that could eventually result in financial … More »Nasdaq announces plan for unfilled Facebook orders
NEW YORK (Reuters) - Nasdaq has engaged federal regulators to untangle the problems that occurred at the opening of Facebook Inc's initial public offering on Friday that could eventually result in financial restitution for investors who did not get shares at the desired price. The Financial Industry Regulatory Authority …
Barclays to sell $6.1 billion BlackRock stakeLONDON (Reuters) - British bank Barclays is selling its near-20 percent stake in U.S. asset manager BlackRock, worth $6.1 billion, as tougher global regulations have cut the attraction of such holdings. … More »Barclays to sell $6.1 billion BlackRock stake
LONDON (Reuters) - British bank Barclays is selling its near-20 percent stake in U.S. asset manager BlackRock, worth $6.1 billion, as tougher global regulations have cut the attraction of such holdings. Barclays has held the stake for almost three years, a legacy of BlackRock's $15 billion purchase of Barclays Global Investors, …
- Early Facebook mutual fund buyers still in money
(Reuters) - Fidelity Investments and other big mutual fund families that were early backers of Facebook Inc are likely still winners despite the social network's troubled stock market debut. Facebook shares … More »Early Facebook mutual fund buyers still in money
(Reuters) - Fidelity Investments and other big mutual fund families that were early backers of Facebook Inc are likely still winners despite the social network's troubled stock market debut. Facebook shares were priced at $38 per share in its initial public offering on Thursday. Despite an initial bump in their market debut …
Question
Please look at my deed in lieu of foreclosure process advice?
I met with a financial counselor through the state of MI to discuss whether foreclosure or keeping my house would be best. I had it on the market for nearly a year - nothing is selling here. I have no interest in keeping my house. The adjusting ARM is adjusting for a 2nd time and I can't afford it along with the repairs, my loss of income and lets not ever start about how bad the neighborhood has gotten. The advice she gave me was to wait til I was 3 months delinquent on my house pay and then to contact the Loss Mitigation dept for Countrywide. She said a DIL is always a bad idea for the borrower unless you negotiate. I can ask them too
-cancel any deficiencies and fees
- eliminate negative credit refs
-allow extra time in the house
-pay moving expenses ($2000-$3500)
If I can get them to agree to DIL my only worry is the defiency judgement. I'm hoping to be able to get out of this without doing BK so if all goes well I can. Thoughts and advice are appreciated.
My next concern if I do get a DIL accepted is that the infamous 1099 form. Its disgusting to me that you will be taxed after losing your home. Is it an obnoxious amount? I'd have to clam BK anyhow -- and since DIL is only slightly better than foreclosure maybe I'd be better doing the foreclosure process, thus avoiding the defiency judgement and the 1099 form and banking my money for the 8 months til I leave? This issue keeps me up at night so TIA for the help everyone.
Best Answer
Normally, if you issue a deed in lieu of foreclosure, there will not be a deficiency judgment. Check with you lender. You might get a 1099 for the amount the lender looses when they sell the house.
5 years agoOther Answers
Don't wait three (3) mos of deliquency before calling the lender. The sooner you call them the better and explain your situation and what you want. Try to work with them. Good Luck.
by RE-AGENT - 5 years agoNo offense to your financial counselor but you need to research what really are all of your options
In this forum participants, such as myself, give opinions on subjects that they feel they know the answer to and sometimes those opinions sound exactly like the right answers but they might not be due to the varying laws in each state, and anyone can make a mistake, that’s why I like to give links to resources that you can check all answers against, including my own opinions, in case my opinions are wrong. Since most of these links are from state & federal government & non profits sometimes they change them, let me know if the links are wrong so I can go find the new ones. So to that end here are some links that you might want to check before relying on information and opinions that you get in here, and that you might be considering following up on and as always verify everything with a licensed professional.
FHA Definition of terms used in Loss Mitigation on Foreclosures
www.fha.gov/sf/svc/faqmain.cfm
Government article and information on Foreclosures
www.occ.treas.gov/cdd/spring06b/cd/...
HUD: Servicing and Loss Mitigation on Foreclosures
www.hud.gov/offices/hsg/sfh/nsc/faq...
Site #2
www.hud.gov/offices/hsg/sfh/nsc/nsc...
HUD: Approved House Counseling Agencies includes foreclosure issues, by state
www.hud.gov/offices/hsg/sfh/hcc/hcs...
HUD: Article on Foreclosure Issues
www.huduser.org/Periodicals/ushmc/f...
National Home Recovery Program for foreclosures www.nhrp.com/
Steps that can be taken to prevent foreclosures: www.consumerlaw.org/initiatives/sen...
FHA: Loan Reform programs
www.hud.gov/offices/hsg/fhareform/i...
Dreams Foreclosed – Scams about foreclosures – A pamphlet: www.consumerlaw.org/news/Foreclosur...
Government Study on Foreclosures, costs and impacts. Includes data on each state
jec.senate.gov/Documents/Reports/su...
Free Foreclosure assistance – Homeownership Preservation Foundation
www.995hope.org/
FTC: High Rate – High Fee Loans (know your rights): www.ftc.gov/bcp/conline/pubs/homes/...
Explanation of foreclosure issues (private site)
www.wwlaw.com/forecl.htm
Free legal aid search for all states: www.lawhelp.org/
Source(s)
www.realestateformnm.com/ResearchLi...
by newmexicorealestateforms - 5 years agoPretty much on track try the website attached and read my active rain blog on this topic. I am a loss mit consultant. Can help if needed. No charge to you!
Source(s)
www.dorisbarnett.com SLide down and click on active rain logo!
by DakB - 5 years ago
