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17 Articles match "2008","Homes","September"
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The Latest from RealtyTrac
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No Mortgage Meltdown For These Banks
Speaking at the start of September, Hermance said his bank had some 80,000 mortgages outstanding. Loans can be brought current and homes can be sold or refinanced to avoid foreclosure. 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 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
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 Option ARM Borrowers Running Out Of Time By Peter G. Miller Step right up folks.
www.realtytrac.com
- Tuesday, February 3, 2009
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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The Best from RealtyTrac
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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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All Aboard, Take a Ride on the Foreclosure Bus Tour
Just take a ride on the repo home tour. Every Saturday, Dias packs in homebuyers into a bus tour of foreclosed homes in Stockton. In September, for example, Stockton had 2,422 foreclosure filings, compared to 330 foreclosure filings in September of 2006, according to RealtyTrac . How do buyers find foreclosures in a downward real estate cycle? That’s easy.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Freddie and Fannie Spurn New York Subprime Loans
Meanwhile, Fannie Mae — the beleaguered government-sponsored enterprise (GSE) holding billions in bad loans — reported this week that it will stop purchasing mortgage loans in New York that fall within the state’s definition of “subprime home loans.” rdquo; Fannie’s sibling, Freddie Mac , who is also reeling with bad debt, chimed in last week, saying it will pull out of the New York subprime market on September 1, 2008. Battle lines are being drawn in New York’s real estate market, pitting Freddie Mac and Fannie Mae against subprime lenders in New York.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Fed Plays a Delicate Balancing Game With Rate Cut
The problem is, many industry analysts are starting to come around to the idea that this “correction” may not bottom out until either year’s end 2008 or sometime in 2009. 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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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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Will Homeowners Sink or Swim?
RealtyTrac™ ( www.realtytrac.com ), the leading online marketplace for foreclosure properties, released its September 2006 U.S. Foreclosure Market Report, which shows 112,210 properties nationwide entered some stage of foreclosure during the month, a decrease of less than 1 percent from August, and a 63 percent increase from September 2005. And prices of existing homes fell in August for the first time in 11 years as sales dipped to their lowest Many American homeowners — initially attracted to low teaser rates on those “exotic” ARMs and sub-prime loans — now find themselves swimming upstream in a desperate attempt to remain financially afloat.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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New Illinois Housing Law Draws 2nd Suit
The suits — filed by eight consumers and the real estate community — seek to halt the implementation of Illinois House Bill 4050, which took effect September 1. "It's a discriminatory law," said Julie Santos, a Chicago Realtor and co-chair of the Coalition to Rescind HB 4050, a group formed from several community organizations who are collecting signatures in an attempt to repeal the law. "If Already, the law has chilled the housing market in the predominantly Black and Latino areas, where homeowners in the neighborhood saw a 45 percent drop in home sales in September.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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OTS Director Offers Alternative Plan to Congress
million American families with 2/28 and 3/27 mortgages are scheduled to reset by the end of 2008), Reich relied on a number of sources to support his point, including foreclosure numbers from RealtyTrac. 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. In a statement delivered before the Committee on Financial Services of the U.S. House of Representatives earlier this week, John M.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Foreclosure Fouls Up Sports Stars
It’s not just average Americans who are losing their homes to foreclosure these days. Even rich and famous athletes who earned millions of dollars during their careers can be subjected to the emotional highs and lows of losing a home. Two recent cases in point: record-setting baseball player Jose Canseco , and former NBA star Latrell Sprewell . Canseco, who first came to prominence as a right fielder with the Oakland Athletics back in the 1980s, has decided to walk away Canseco owed Washington Mutual more than $2.5 million on the 7,300 square foot mansion with four bedrooms
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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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. 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. Even with interest rates remaining at or near historically low levels — thanks to the Federal Reserve — Esmael Adibi, 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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