12 Articles match "2007","Negative","Real Estate"

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• Negative Savings Rate Portends More Defaults
  
  A Commerce Department report released last week confirmed that Americans are continuing to spend more than they make, setting the stage for more increases in foreclosure activity in 2007. The Personal Income and Outlays report pegged the countrys personal savings rate at negative 1 percent in 2006, lower than the negative 0.4 Not since the Great Depression has the personal percent in 2005. While this negative savings rate may be helping to sustain the country’s growing economy in the short term by infusing the economy with cash, it could also be draining the rainy day
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• California Foreclosures 2007: Steady As She Goes
  
  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. Still, enough of the prime indicators are projected to turn and remain negative — or slightly positive at best — this year to conclude that the flow of California foreclosures will at least remain steady. 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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• Foreclosures: Chicken or Egg?
  
  Michael Carney, Professor of Finance and Real Estate at Cal Poly University in Pomona, Calif., and Director of the Real Estate Research Council of Southern California . That slowing of demand had a domino effect, causing home sales to slow and home price appreciation to flatten and even go negative in the first quarter of 2007, according to Carney’s research. It’s a classic chicken-and-egg question: are foreclosures a cause or a symptom of the slumping housing market? One Southern California economist believes they’re clearly a symptom. “I
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Home Price Indices Reporting Record Lows
  
  percent between Q1 2007 and Q1 2008 to the lowest level seen in the 17-year history of its purchase-only house price index. “These ldquo;These substantial home price declines bring positive and negative news,” said OFHEO Director James B. percent decline in prices from the first quarter of 2007 — the largest yearly decline in the 20-year history of the index. “The Home prices on existing single-family homes continued to sink further into the abyss nationally during the first quarter of 2008, according to two leading industry indicators. The Office of Federal Housing Enterprise Oversight (OFHEO) reported last week that prices fell 1.7
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Economic Indicators Support Slow Gain in Foreclosures
  
  And based on the latest available national economic data, indications for the remainder of 2006 through 2007 are consistent with RealtyTrac’s May 2006 U.S. The key factor of concern to real estate investors, first-time homebuyers and agents looking to get into the foreclosure business is interest rates. percent before dropping back slightly in 2007. Economics 101 – Interest Rates Now that we are hovering at the mid-year point, economists are starting to review their projections for this year. Foreclosure Market Report, which shows a 2 percent increase in foreclosure
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Foreclosures Won't Break the Market Next Year
  
  The ups and downs of every economic cycle have always been directly impacted by the health of the real estate sector. 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
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• You Too Can Predict the Future...Maybe
  
  According to the Chapman Composite Index of Consumer Sentiment, while responses to the survey were negative when it came to the current and future economic conditions (to the lowest level seen since the survey began in Q3 2002), consumers did answer positively to their future spending plans for big ticket items (although the uptick was only 5 points for Q1 2008 after a 16-point decline for Q4 2007). The real question may be, how do consumers feel about it? Time to dust off those Ouija boards and take out the tea leaves. The way things are going nowadays you too have about
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Option ARM Borrowers Running Out Of Time
  
  Lastly, we have the real attraction of option ARMs, the option payment itself, a payment which is insufficient to even pay off the monthly interest cost. Because Fitch says that a 40-year loan term represented 4 percent of all option ARMs in 2004 -- but 38 percent by 2007. A loan with four payment options may seem fairly understandable, but in the real world a lot of borrowers did not take out option ARMs because they wanted to make fully-amortizing payments. Option ARM Borrowers Running Out Of Time By Peter G. Miller   
  www.realtytrac.com - Tuesday, February 3, 2009
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• Bush Foreclosure Solution Just Adds Water
  
  Bush came out with a public policy statement negating any possibility of either a homeowner, or a lender bailout, given the impact the current mortgage crisis is having on the nation’s housing economy. So it comes as a surprise of sorts that the White House issued a statement earlier this week supporting the recent passage of HR 3648 by the House of Representatives, while at the same time asking that a key provision of the bill be watered down to the point of making its implementation temporary at best. Titled the “Mortgage Forgiveness Debt Relief Act of 2007,” HR 3648 is
  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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