11 Articles match "2007","Homes","September"

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• California Foreclosures 2007: Steady As She Goes
  
  The state hit its peak towards the end of the year, taking the nation’s top spot for September, October and November. That said, foreclosure levels for 2007 are more likely to be a continuation of 2006, rather than a reprise of the early 1990s when foreclosures were rampant due to extensive job losses, high interest rates, high inflation and a resulting recession. Only a slight uptick in job creation throughout California is expected, along with low housing Through November, RealtyTrac tallied nearly 130,000 properties that entered some stage of foreclosure in California alone during 2006; accounting for roughly 11 percent of the nation’s foreclosures for the same period.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• As Home Prices Plummet, When Will You Buy?
  
  Home prices in 20 of the nation's major metro areas in July were collectively down 16.3 percent from a year ago, according to the S&P/Case-Shiller Home Price Index released today. quot; Las Vegas and Phoenix posted the two biggest annual declines in home prices of the 20 metro areas tracked in the report, followed by Miami with a 28.2 Prices in those metro areas were down 19.5 percent from their peak in July 2006. "There
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Fed Plays a Delicate Balancing Game With Rate Cut
  
  The rationale given for the move was the intensification of what the Fed continues to refer to as the nation’s housing “correction” which, by the way, has been ongoing for the better part of 2007. Today’s action, combined with the policy action taken in September, should help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets and promote moderate growth over time,” the FOMC said in a statement published October 31. In a move aimed at quelling fears of a looming recession, the Federal Open Market Committee took the country’s teetering monetary affairs seriously two weeks ago and lowered the short term federal funds rate another quarter of a percentage point to 4.5
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Legislating Lower Foreclosure Rates?
  
  But opponents say the law is cutting down on the legitimate loans available to residents of the 10 zip codes and thereby will lower house values by reducing the number of potential buyers who can qualify for a loan, creating a glut of unsold inventory. The bill requires certain “high risk” mortgage applicants to receive credit counseling before taking out a home loan, and only applies to state-chartered loan originators, not federally chartered loan originators, according to the Chicago Association of Realtors. Also below is a heat map RealtyTrac created of the Chicago area based
  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. Still, the bottom line is no matter how
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• How Much for Those Lender Assets in the Window?
  
  This is a huge issue because at the end of 2007 the United States had residential mortgages worth $10.5 In September Merrill was bought by the Bank of America for $29 a share . Thats a 70 percent premium over the stocks pre-acquisition value — but far from the one-year high of $77.89. The WAMU Deal In September, JP Morgan Chase paid $1.9 How Much for Those Lender Assets in the Window? By Peter G. Miller    Long ago there was a song which asked the magic question, how much for that doggie in the window?
  www.realtytrac.com - Tuesday, February 3, 2009
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• A 'Dialogue' on the Housing Market
  
  Appearing on a recent episode of “Dialogue with Jim Doti”, RealtyTrac CEO James Saccacio cited a number of factors for the more than 60 percent year-to-year increase in foreclosure activity in September 2006. Chief among those — local economic conditions, poor planning for the future by home buyers, and rising interest rates. The nation’s foreclosure total already Now the stage is set. When I got into this business, back in 2000, defaults were about 1 percent of all first mortgages.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• OTS Director Offers Alternative Plan to Congress
  
  Reich pointed to the FHASecure program as an example, where 116,000 loans have closed since the program was launched in September 2007, but only 1,500 of them were made to refinance delinquent conventional loans. Under the FHA Housing Stabilization and Homeownership Retention Act of 2008 (the HSHR Act), the FHA proposes to guarantee up to $300 billion in new mortgages to refinance existing eligible mortgages originated between January 1, 2005 and July 1, 2007, the report notes. In a statement delivered before the Committee on Financial Services of the U.S. House of Representatives
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Option ARM Borrowers Running Out Of Time
  
  You say you want to buy a home but have no money. Let me introduce you to the option ARM, an affordability mortgage product that can get you into the home of your dreams.... See: "Option ARMs, Its Later Than It Seems," September 2008.) According to Fitch "the potential average payment increase on this recasting population is 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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• Mortgage Reform to Calm Foreclosure Storm
  
  In an attempt to address the recent downturn in the real estate market — evidenced by rising foreclosures and falling home prices and which many believe may threaten to undermine the overall economy — the House of Representatives yesterday passed a bill that imposes more stringent regulatory oversight of the mortgage industry. Called The Mortgage Reform and Anti-Predatory Lending Act of 2007, the bill ( H.R. 3915 ) claims to "amend the Truth in Lending Act to reform consumer mortgage practices and provide accountability for such practices, to establish licensing and registration requirements for residential mortgage originators, to provide certain minimum standards for consumer mortgage loans, and for other purposes."
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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