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57 Articles match "2005","2008"
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No Mortgage Meltdown For These Banks
As Hermance points out, “we make loans we’re willing to live with.” The performance at Hudson has not gone unnoticed: The stock is up 1,100 percent since the company went public ten years ago. ING DIRECT In 2005 the federal government moved to tighten bankruptcy rules in a way that would make debt forgiveness difficult if not impossible. While many lenders are underwater, for the second quarter of 2008 the ING Group reported net income of $1.9 No Mortgage Meltdown For These Banks By Peter G. Miller The news from Wall
www.realtytrac.com
- Tuesday, February 3, 2009
Option ARM Borrowers Running Out Of Time
See: "Option ARMs, Its Later Than It Seems," September 2008.) In the case of 40-year option ARMs issued in 2005, Fitch says such loans can recast after 28 months — a little more than two years if a borrower makes only minimum monthly payments. "Option In the next two to four years well see elective payments end for many option loans," I wrote in 2005. "Then Option ARM Borrowers Running Out Of Time By Peter G. Miller Step right up folks.
www.realtytrac.com
- Tuesday, February 3, 2009
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Forecasters Change Housing Estimates for '07/'08
million for 2008. Our forecast calls for housing prices to decline around 5 percent before relatively strong job growth helps to bring about a recovery by late 2008.” According to their latest figures, Doti noted that price appreciation on resale housing peaked during the third quarter of 2005 at 14.2 With the housing market languishing on the downslide, Doti expects export sales — which are The nation’s housing market is not cooperating the way analysts at the A. Gary Anderson Center for Economic Research at Chapman University in Orange, Calif.,
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Foreclosures Inch Higher in May
The data show nationwide foreclosures inching up 2 percent from the previous month and 28 percent from May 2005. “Our May numbers echo the recent report by the Mortgage Bankers Association, which noted that delinquency and default activities were lower in the first quarter of 2006,” commented James J. While our report confirms that the number of properties entering foreclosure is still significantly higher than it was during the same period of 2005, we’ve now seen two months of decreasing foreclosure rates followed by May numbers that were essentially flat. RealtyTrac just released state and national foreclosure statistics for the month of May .
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Foreclosures Thrive in Third Quarter
More than 300,000 new foreclosure filings were reported nationwide during the quarter, up 17 percent from the previous quarter and up 43 percent from the third quarter of 2005. That brings the year-to-date foreclosure total to more than 900,000, more than in all of 2005 and on pace to hit 1.2 With home price appreciation slowing and the inventory of unsold homes expanding, the third quarter proved to be fertile ground for sprouting foreclosures, according to RealtyTrac’s quarterly foreclosure market report . million by year’s end.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Fed Stands Fast on Rate; Little Solace for Homeowners
Although this bodes well for consumer loans, home equity lines of credit, and credit cards, it does little to alleviate the long-term effects starting to be felt by homeowners who signed on to very risky adjustable-rate subprime mortgages during 2005 and 2006. The interest rates on more than $1 trillion in these “exotic” mortgages are due to reset to higher rates in both 2007 and 2008. It wasn’t long after Ben Bernanke took over the reins of the Federal Reserve from Alan Greenspan that he put a halt to the 17 consecutive upward adjustments in the federal funds rate (FFR) — the short-term interest rate banks charge each other — back in August 2006.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Foreclosures and Hurricanes: A Nasty Combo
The fallout that followed in the aftermath of Hurricane Katrina in 2005 left many Gulf Coast residents homeless or facing foreclosure — or both. As opposed to the hurricanes causing the foreclosures, this time around the foreclosures already exist, and in much greater numbers than back in 2005. reported a rise in homeowner vacancies for the first quarter of 2008 from the previous quarter and the same quarter a year ago. Temporary relief from the devastation was granted in the form of a foreclosure moratorium at the time. Given today’s economic climate, however, there
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Local Market Perspective: Lake Havasu, Ariz.
In May 2008, there were 272 new listings, down 1.5 There were 134 sold listings in May 2008, down 15.52 The property was worth $550,000 in 2005, but today sold for $308,000. With a population of fewer than 55,000, the Lake Havasu, Ariz., real estate market is still declining. With our beautiful Lake and hot summers,
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Make Food, Not Foreclosures
Just like it was in 2007, Wayne County has been a hotbed of foreclosure activity in Michigan so far in 2008. Urban Farming has been doing this around the country since it was founded in 2005. A non-profit group has launched a program to turn former foreclosures into farmland. National Public Radio is reporting that the non-profit group Urban Farming requested that Wayne County, Mich.,
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Lending Standards Continue to Tighten
The Fed’s July 2008 Senior Loan Officer Opinion Survey , which covered 52 domestic banks and 21 U.S. It’s good that banks are adopting more stringent lending guidelines than the virtually nonexistent ones they employed with the 2005 to 2007 vintage mortgages — which turned out to be highly susceptible to foreclosure. The results of a new survey released today by the Federal Reserve confirms what many people looking to buy or refinance already know — it’s hard to get approved for a loan. branches and agencies of foreign banks, found that 75 percent
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Foreclosures Won't Break the Market Next Year
Director of Research and Analytics for First American Real Estate Solutions, said that even with $1 trillion of adjustable-rate mortgages ready to reset to higher interest rates in both 2007 and 2008, he believes the number of defaults and foreclosures resulting from the increased mortgage payments will be “painful but won’t break the economy or the market.” Basing his comments on data collected on first mortgages — with an emphasis on those originated between 2004 and 2005 — Cagan said, “We have to figure out who has equity and who doesn’t. In fact a recent Wall Street
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Latest Census Data Suggest More Foreclosures Coming
Census Bureau , based on 2005 data, suggests that the American public is spending more of their disposable income on necessities — especially owner occupied and rental housing. Moreover, the state ranked 11 th nationally in total number of foreclosures for August 2006, an increase of 95 percent over August 2005. Will the thinly stretched finances of U.S. homeowners lead to a sharp rise in foreclosures and a collapse of the so-called housing bubble?
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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