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27 Articles match "2008","Associated","Properties"
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The Latest from RealtyTrac
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Don't Dump Investors
23, 2008.) Our Secretary of the Treasury, Henry Paulson, says “as our economy works through this difficult period, we will look for additional opportunities to try to avoid preventable foreclosures. Because investor properties lost to foreclosure will continue to flood the market, driving down all home values. Long-term holders of real estate have commonly benefited from Don’t Dump Investors By Peter G. Miller When it comes to bailing out giant banks, huge companies and massive stock brokerages theres no shortage of government
www.realtytrac.com
- Tuesday, February 3, 2009
No Mortgage Meltdown For These Banks
not far from Manhattan, Hudson City Bancorp has a lending philosophy that dates back decades: You can get a dull, boring, mortgage from Hudson at a very low rate — but only if you put equity into the property. percent of all loans outstanding according to the Mortgage Bankers Association. As one example, Hermance says that of 50,000 New Jersey mortgages his No Mortgage Meltdown For These Banks By Peter G. Miller The news from Wall Street in recent weeks has not been good, especially in the world of mortgages.
www.realtytrac.com
- Tuesday, February 3, 2009
Option ARM Borrowers Running Out Of Time
See: "Option ARMs, Its Later Than It Seems," September 2008.) With higher home values properties could be readily sold or refinanced with little risk. Given the inherent flaws and risks associated with option ARMs the question has to be asked: Why did lenders offer such financing? As to lender share prices and dividends, how attractive 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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Fannie: Q1 a Swift Kick in the Rear
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. CNNMoney reported last Tuesday that Fannie’s CEO Daniel Mudd is optimistic overall about the company’s future, but sees more challenges lying ahead for the rest of 2008 and possibly beyond. “As And as with many corporations in this country, the national economy is kicking Fannie around…fast and hard! One of the nation’s two Government Sponsored Enterprises (GSEs), Fannie reported a first quarter net loss of $2.2
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Too Soon For a Comeback
Even the National Association of Realtors, which has come out with its latest report documenting a two percent decline in existing home sales for March 2008, down 19.3 According to the official statement of the Office of Federal Housing Enterprise Oversight (OFHEO), a monthly increase in prices was reported between January and February 2008 for seven out of the nine census divisions tracked by the agency. At present it does not appear that there is enough evidence yet to declare that a market comeback is in the offing. The bottom line is that no one can say anything with
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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MBA Numbers Mirror RealtyTrac Data:
The number of delinquent mortgage payments and foreclosures jumped in recent months, according to a new survey released today by the Mortgage Bankers Association . Looking ahead to 2007, the mortgage association expects delinquencies and foreclosures to continue on the rise at a “modest increase” over the next several quarters “as the housing market bottoms.” More than 120,334 properties nationwide entered some The MBA’s quarterly report — surveying more than 42 million mortgages nationwide — found that the rate of delinquencies and foreclosures rose to 4.7 percent from
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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Whitney Houston: Diva in Default
Houston’spublicist told a local newspaper that the property is not in foreclosure andlater was not available for comment to the Associated Press. property ownedby Whitney E. Actor Don Johnson narrowly avoided foreclosure by selling a property at the last minute, and Michael Jackson received a notice of default for an Encino, Calif., Thanks to delinquent mortgage payments totaling more than $1million, singer Whitney Houston faces the possibility of foreclosure on a home in New Jersey, according to the AssociatedPress . The news service reports that one of two lots
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Fannie Mae Toughens Foreclosure Guidelines
With government officials at the local, state and federal levels clamoring to clamp down on the nation’s financial institutions and other loan originators, plus the recent bailout of Bear Stearns by the Federal Reserve after the Wall Street giant became so heavily invested in subprime backed mortgage securities, it was just a matter of time before the Federal National Mortgage Association (better known as Fannie Mae ) did something to tighten the reins as well. Well, this past Monday it finally did. Effective June 1, 2008, Fannie will require a potential borrower’s credit history
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Lenders Asked to Clean Up Unhealthy Foreclosures
Kelley, sent out an official notice last Tuesday requesting that all state licensees in the financial services industry clean up any stagnant water located around vacant properties — many of which are foreclosures. One of the downsides of taking back foreclosed properties for the lender is the obligation and cost associated with managing those REOs — some of which are bound to be vacant for a while, especially with the extended time it is currently taking to sell real estate in the Golden State. Not only are foreclosures unhealthy for the economy, apparently they can be unhealthy for people as well.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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New Poll: Buyers to Remain on the Fence
If the results of the latest Associated Press-AOL Money & Finance poll are any indication, prospective home buyers will be keeping their wallets closed and remain on the fence at least until the latest economic downturn blows over. Conducted between March 24 and April 3, 2008, by Abt SRBI Inc., Thats where working foreclosure properties And that could be years down the road. A majority of those polled for the survey expressed pessimism over the nation’s housing contraction (as the Federal Reserve calls it) enough to not consider buying a home anytime soon.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Waning Confidence a Concern That May Help Foreclosures
Results of the most recent member survey conducted by the National Association of Home Builders shows the level of builder confidence in the nation’s housing market at its lowest point since 1995. If these concerns fuel a downward spiral, home prices could drop significantly, resulting in a loss of homeowner equity (which in itself could have serious economic repurcussions) and an increase in the inventory of foreclosure properties. Experts like Doti see this scenario as unlikely. Economics 401 – Effects of a housing ‘slump’? When James L. Doti, president of Chapman University,
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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40 Is the New 30 for Lenders and Investors
Even though prices are up, home sales volume is down dramatically -- just ask the National Association of Realtors -- homeowners are not refinancing anywhere near the levels seen even just a year ago, and the number of new homes under construction is declining as is building permits. Whether 40-year fixed-rate mortgages will help distressed homeowners who cant afford their monthly mortgage payment keep their property out of foreclosure -- its too early to tell. Well, as Fed Chairman Ben Bernanke decides on his next move -- will he or wont he ratchet up interest rates another 25 basis points next month as most economists are predicting -- mortgage lenders are also pondering their next moves.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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