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Home  >  Posts tagged "Foreclosure" (Page 4)

Neighbors’ health conditions affected by foreclosed property

New research suggests that residents living near a foreclosed property may be more likely to develop high blood pressure, the Washington Post reported on May 13.

At least 1,750 participants in Massachusetts were followed by researchers at Harvard University’s Center for Population and Development Studies from 1987 to 2008. They found out those residents who have neighbors with foreclosed homes have increased blood pressure. Researchers suggest that factors like stress and anxiety for possible devaluation of property contribute to the escalating blood pressure. Although the rise in blood pressure shouldn’t pose a large health risk, it is significant that foreclosures not only affect the economy but also people’s health.

If you are being threatened by foreclosure in Cedar Rapids, a lawyer from the Hong Law, PLC may possibly prevent your home from being taken away from you. Speak with us today by calling (319) 632-1400 to know more of your options.

Ex NFL star avoids foreclosure by selling his condo

Former American football player Clinton Portis reportedly sold his condominium in Miami to avoid foreclosure, an article by Realty Today reported on April 15.

Reports said JPMorgan and Chase had filed a lawsuit against the athlete and his mother over the property’s mortgage balance. The 32-year-old former running back reportedly bought the 2,070 sq/ft property in Bristol Tower in 2004 for $665,000. Portis was able to sell his property for $900,000 to settle his loan in full and earned a profit of 35 percent. The condominium was considered to be either Portis’ investment or a home provided for a relative.

Regardless of the situation, undergoing foreclosure is a frustrating experience. However, if this happens to you in Cedar Rapids, the lawyers at Hong Law, PLC may possibly give you other solutions to protect your home from being foreclosed. Speak with our lawyers today by calling (319) 632-1400 to learn more about your options.

Foreclosure rates continue to fall

In 2013 lenders took back the least amount of homes since 2007, marking a significant improvement for Unites States homeowners.

Last year only 462,970 homes nationwide were repossessed by banks, a 31 percent decrease compared to 2012. Improved economic factors were cited for the improvement of the U.S. housing market.

United States foreclosure rates reached an all-time high 2010. RealtyTrac vice president, Daren Blomquist said that fewer homes entering into foreclosure procedures reinforces the idea that the housing market is improving.

Despite increasingly good news for the real estate market, the legal team at Hong Law, PLC, understands that many Cedar Rapids homeowners still face foreclosure. If you are in need of legal counsel regarding your property call (319) 294-5853.


Former porn star’s mansion faces foreclosure

The Los Angeles mansion of a former porn star was recently lost to foreclosure after she failed to pay her mortgage, according to a report released on October 20.

Porn star Jenna Jameson was notified of her delinquent status last February for owing $57,000 on her mortgage for the 3,958 square-foot, three bedroom mansion in Hollywood Hills.

The 39-year-old adult film actress put the mansion up for sale for $1.9 million, but it didn’t sell.  Jenna rented out the mansion, and failed to maintain it after moving in with Ultimate Fighting Champion Tito Ortiz in 2008. The mansion was recently auctioned off for $1.8 million.

Jameson originally purchased the home for $2.7 million in 2006.

Losing a home to foreclosure can be frightening and overwhelming. However, there are legal options available to prevent it. If you are facing bankruptcy or foreclosure in Cedar Rapids, Hong Law, PLC, may be able to help you. Call (319) 294-5853 to discuss your options with a knowledgeable attorney today.

Stephon Marbury may lose condo to foreclosure

Former New York Knicks point guard Stephon Marbury may lose his condo in NYC to foreclosure due to unpaid debts from three years ago, according to a report on Wednesday, September 18.

In the documents filed by U.S. Bank International, Marbury has an unsettled debt of $844,035 on his condo since March 2010. The bank is now seeking to repossess Marbury’s two-bedroom and two-bath condo that he bought for more than $1 million in 2006. Marbury was given an option by the bank to either gain back his property or to have it sold in an auction. Stephon also lost a property in L.A. to foreclosure last year.

The prospect of losing a home in a foreclosure can be frightening and stressful. Fortunately, if you are facing this financial penalty in Cedar Rapids, the legal team at Hong Law, PLC, can help you. Learn about your options for foreclosure defense by calling (319) 294-5853.

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