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12 Articles match "2007","Real Estate","Residential"
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The Latest from RealtyTrac
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Option ARM Borrowers Running Out Of Time
According to Fitch "the potential average payment increase on this recasting population is 63 percent, representing on average an additional $1,053 due each month on top of the current average payment of $1,672." You dont have to be a math major to figure out what will happen next: Huge numbers of option ARMs will fail in the next 24 to 30 months with results that will be devastating to borrowers, loan portfolios and local home values. How They Work Formally known as "payment option adjustable rate mortgages," option ARMs are the most complex residential loan products ever offered.
www.realtytrac.com
- Tuesday, February 3, 2009
National Registration For Loan Officers Becomes Reality
But the real story is different: Mandatory registration will potentially allow mortgage investors worldwide to rank loan officer performance — and to refuse deals from those with high levels of foreclosures and delinquencies. Seen another way, the new law makes mortgage lending more transparent, something which will reduce foreclosure rates, cut lender losses and make mortgages more enticing to investors worldwide. “Across the country we carefully license real estate brokers, lawyers and doctors,” says James J. National Registration For Loan Officers Becomes Reality By Peter G.
www.realtytrac.com
- Tuesday, February 3, 2009
As Home Prices Plummet, When Will You Buy?
percent from July 2007, the smallest annual decline among the 20 cities tracked in the report, followed by Dallas, which reported a 2.5 Does this make it a good time to buy real estate? have access to credit have fat cash reserves aren't already over-exposed in real estate have a secure job or income stream expect to hold the property for at least two years" But be forewarned, prices are expected to fall further, 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
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. Only a slight uptick in job creation throughout California is expected, along with low housing affordability, a larger inventory of unsold houses, declining home prices, lower sales volume and less residential construction. 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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Waning Confidence a Concern That May Help Foreclosures
If housing prices plummeted like they did back in the early 1990s, the loan-to-value ratio on many mortgages might force homeowners into foreclosure, providing new opportunities for real estate investors, speculators, real estate agents and anyone looking to buy a home from the foreclosure pipeline. Declining numbers are being felt across the board in residential building permits, housing starts (projected to be down 10 percent for 2006 and another 6 percent in 2007) and completions, resulting in a total $64 billion drop in residential construction.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Data Suggests Decline in California Foreclosures
The current Chapman estimate is for 226,000 jobs to be created by year-end 2006, with another 150,000 jobs added during 2007. And what job losses there are – like in residential construction – should be absorbed elsewhere such as in non-residential construction. Since unemployment rates are historically a good indicator of foreclosure rates, this bodes well for California homeowners, but less well for real estate investors, first-time home buyers and real California’s latest economic numbers reported by forecasters at the A. Gary Anderson Center for Economic Research
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Forecasters Change Housing Estimates for '07/'08
The drop in residential construction is steeper and over a longer time than many analysts had predicted. With the housing market languishing on the downslide, Doti expects export sales — which are forecasted to increase by almost $100 billion in both 2007 and 2008 — to replace real estate as the major driver of economic growth in this country. Still, Doti, along with his colleague Essie Adibi, director of the Anderson Center, are diligently standing by their The nation’s housing market is not cooperating the way analysts at the A. Gary Anderson Center for Economic
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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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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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 percent decline in prices from the first quarter of 2007 — the largest yearly decline in the 20-year history of the index. “The ldquo;The steep downturn in residential real estate continues,” said David M. 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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Fannie: Q1 a Swift Kick in the Rear
billion loss reported for Q4 2007, it pales in comparison to the $961 million profit the GSE reported for the same quarter a year ago. Credit-related expenses for the quarter rose from $3 billion for Q4 2007 to $3.2 However, foreclosed property expenses decreased to $170 million for the latest quarter, from $179 million in Q4 2007. It may have been created and chartered by the federal government, but Fannie Mae (the Federal National Mortgage Association) is first and foremost a private company responsible to shareholders for running at a profit. And as with many corporations in
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Governor Suspends Controversial Law Affecting Investors
But House Bill 4050 (renamed Public Act 94-280) is now null and void, which should be a relief to real estate investors and prospective homebuyers looking for bargain property in south Chicago . Rod Blagojevich suspended the law on January 19, 2007. A statement released by Dean Martinez, Secretary, Department of Financial and Professional Regulation, explained It was controversial when it took effect, and it remained controversial until public officials decided enough was enough – roughly a little more than a year later. Responding to the public outcry of legislative redlining,
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Rate Cut, Real GDP Are Some Positive News
2007). In the second announcement made earlier in the day, the Commerce Department said that real Gross Domestic Product (GDP) increased at an annual rate of 0.6 percent during the first quarter of 2008, the same rate of increase as tracked for the fourth quarter 2007. calls the “real residential fixed investment”), marked by a 26.7 One day after President Bush pointed the finger at Congress and told the American public to blame lawmakers for all of their recent financial woes, an inkling of actual positive news came out of Washington Wednesday with two announcements from government agencies.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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National Registration For Loan Officers Becomes Reality
But the real story is different: Mandatory registration will potentially allow mortgage investors worldwide to rank loan officer performance — and to refuse deals from those with high levels of foreclosures and delinquencies. Seen another way, the new law makes mortgage lending more transparent, something which will reduce foreclosure rates, cut lender losses and make mortgages more enticing to investors worldwide. “Across the country we carefully license real estate brokers, lawyers and doctors,” says James J. National Registration For Loan Officers Becomes Reality By Peter G.
www.realtytrac.com
- Tuesday, February 3, 2009
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