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17 Articles match "2008","Houses","New York"
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The Latest from RealtyTrac
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Don't Dump Investors
After all, its in our national interest to protect investors — unless, of course, theyre folks who merely bought a house or two. See: From the New Deal, a Way Out of a Mess, The New York Times, Feb. 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. Don’t Dump Investors By Peter G. Miller When it comes to bailing out giant banks, huge companies and massive stock
www.realtytrac.com
- Tuesday, February 3, 2009
Long-Term Solution for Fannie and Freddie Dilemma
Share values have dropped more 90 percent, investors have lost more than $100 billion, and both companies were rescued by the federal government earlier this month, placed in a government conservatorship run by the newly created Federal Housing Finance Agency. Housing prices must fall to get the national average from 200K down below from 70K to reset the housing market and get equities back in line with reality." What is it that has so many people mad with Fannie Mae and Freddie Mac? Long-Term Solution for Fannie and Freddie Dilemma By Peter G. Miller
www.realtytrac.com
- Tuesday, February 3, 2009
Fed, World's Banks Pull Off Global Rate Reduction
rdquo; The New York Times reported Wednesday that in a speech delivered the day before to members of the National Association for Business Economics, Bernanke said the economic turmoil has caused the Fed to downgrade its “already-gloomy economic outlook.” rdquo; In fact, during that speech Bernanke made it clear that the housing market was a key factor in that outlook. “Economic activity had shown signs of decelerating even before the recent upsurge in financial-market tensions. In an unprecedented move aimed at quelling the mounting tidal wave of unrest affecting the world’s economies and investors, the Federal Reserve, in partnership with other central banks around the world, pulled off a coordinated reduction of short-term interest rates Wednesday.
www.foreclosurepulse.com
- Thursday, December 18, 2008
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Mayors Predict Rising Foreclosures in 2008
Mounting home foreclosures will lead to “profound” effects on the economy next year, bleeding billions of dollars in lost tax revenues, shrinking job growth and reducing consumer spending in the nation’s major metropolitan areas, according to a new report released this week by the U.S. That will worsen the already sharp housing downturn, with ripple effects on hiring and spending. Conference of Mayors . Prepared by forecasting and consulting firm Global Insight , the report said weak residential investment, lower spending and income in the construction industry and curtailed
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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RealtyTrac VP Speaking at USFN Seminar
If you’re attending the annual 2008 USFN National Default Servicing Seminar in Texas this week, you can catch RealtyTrac Vice President of Marketing Rick Sharga speaking on the latest foreclosure legislation at a 9 a.m. rdquo; “The housing slump — accompanied by a surge in foreclosures — in the midst of a presidential election year has pushed foreclosure prevention legislation to the top of many politicians’ priority lists,” Sharga said in a statement . “The panel discussion titled “In the News: Current Issues Affecting the Default Servicing Industry.”
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Appreciation Rates Foreshadow Foreclosures
Third-quarter house price appreciation figures released last week by the Office of Federal Housing Enterprise Oversight provide more evidence of a cooling real estate market and further foreshadowing of a continued rise in foreclosures — all pointing to more opportunities for real estate investors to buy low. The OFHEO report shows national house prices rose 7.73 percent from the third quarter of 2005, down from a 10.06 percent increase in the second quarter and down from a high of a 13.9
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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The $3 Billion Foreclosure Payday
During the last housing slump, Paulson was a foreclosure investor, buying two distressed properties; a New York apartment and a large home in the Hampton on Long Island. During the housing boom, Wall Street began repackaging mortgage securities into instruments called collateralized debt obligations, or CDOs, and selling slices of these securities to investors at varying levels of risk. You may not know who John Paulson is, but you soon will. Last year, Paulson made $3 billion betting on foreclosures .
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Rate Cut, Real GDP Are Some Positive News
More specifically, however, the Fed announcement highlighted a number of factors for its decision such as subdued household and business spending, soft labor markets, stressed out financial markets, tight credit conditions and the continuation of the housing contraction. percent during the first quarter of 2008, the same rate of increase as tracked for the fourth quarter 2007. 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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Foreclosures up 13 percent in February
Thats a foreclosure rate of one new foreclosure for every 986 U.S. foreclosure rate has moved higher, and it’s the second straight month new foreclosures have topped 100,000. In addition, bank-owned properties accounted for 39 percent of the total number, which is a higher percentage than usual and indicates that fewer homeowners in default have been able to stop the foreclosure process by selling or refinancing during pre-foreclosure." Georgia reported the nations highest foreclosure rate for the second RealtyTrac released our February 2006 foreclosure numbers today, and they show U.S.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Where to find the best deals on foreclosures
And foreclosure rates in California, New York and Washington were well below the national average, meaning that relatively few foreclosure properties were available to interested buyers and investors. For example, foreclosures in Monroe County (Rochester), New York sold for an average price of $59,591 — 47.82 Let us know about where youve found It’s important for buyers and investors who are interested in the foreclosures market to carefully evaluate local market conditions before diving into foreclosures in any given area. Our analysis of nationwide foreclosure
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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You Too Can Predict the Future...Maybe
Although he believes the $152 million economic stimulus package President Bush and Congress approved last month will help somewhat, Engle, a professor at New York University, is disappointed in the performance of the housing sector enough to blame it as the chief reason that a recession is likely. “What I’m hoping is that this sector of the economy doesn’t get legislated away. 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
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Study Forecasts Rising Subprime Foreclosures
A new study released yesterday by the Center for Responsible Lending projects that one out of five subprime mortgages originated in the past two years will end in foreclosure, costing homeowners as much as $164 billion. “This rate is nearly double the projected rate of subprime loans made in 2002, and it exceeds the worst foreclosure experience in the modern mortgage market, which occurred during the “Oil Patch” disaster of the 1980s. The study, which cites RealtyTrac numbers as one of its sources, looked at subprime foreclosure rates from 1998 through 2006 and closely ties those
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Bush Mortgage Freeze Could Expand to Prime Loans
It seems like Treasury Secretary Henry Paulson has been spending the new year defending his boss’ “Hope Now” plan to ease the pain of foreclosure and to give the U.S. So far this week Paulson made a speech in New York on Monday defending the president’s Hope Now alliance which has been together a mere three months. In the process the secretary justified the need for the industry coalition, while calling economy the boost it needs to sustain itself. Then, appearing on CNBC Tuesday, the secretary revealed that the Bush Administration is exploring the possibility of expanding
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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