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93 Articles match "2008","May","Real Estate"
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The Latest from RealtyTrac
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No Mortgage Meltdown For These Banks
But the real story with foreclosures is different: The fact that a loan is delinquent does not mean foreclosure is sure to follow. Volatile real estate markets such as today support such prudence.” Even with such caution, Higgins says “still we aren’t protected in every instance where values can drop even more substantially.” As part of its share-the-risk philosophy, ING reduces borrower exposure by limiting financing choices. “We have NEVER offered option ARMs,” says Higgins. “We No Mortgage Meltdown For These Banks By Peter G. Miller
www.realtytrac.com
- Tuesday, February 3, 2009
Option ARM Borrowers Running Out Of Time
See: "Option ARMs, Its Later Than It Seems," September 2008.) 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 Option ARM Borrowers Running Out Of Time By Peter G.
www.realtytrac.com
- Tuesday, February 3, 2009
National Registration For Loan Officers Becomes Reality
The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 , part of the FHA reform bill, sets in place national standards for mortgage loan officers. 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 National Registration For Loan Officers Becomes Reality By Peter G. Miller What do you know about your loan officer?
www.realtytrac.com
- Tuesday, February 3, 2009
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Foreclosure Downpour Continues in May
Foreclosure activity continued its upward climb in May, increasing on a year-over-year basis for the 29th consecutive month, according to the RealtyTrac U.S. REOs were up 35 percent from the previous month and 158 percent from May 2007. It's apparent from the report that a high inventory of foreclosures will continue to saddle the real estate market. Foreclosure Market Report released today. The report showed one in every 483 U.S.
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. This dampening in the new housing sector, combined with a lower volume of home resales, raises concerns about the overall health of the national real estate market. Economics 401 – Effects of a housing ‘slump’? When James L. Doti, president of Chapman
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Local Market Perspective: Lake Havasu, Ariz.
real estate market is still declining. In May 2008, there were 272 new listings, down 1.5 percent from May 2007. There were 134 sold listings in May 2008, down 15.52 percent from May 2007. With a population of fewer than 55,000, the Lake Havasu, Ariz., With our beautiful Lake and hot summers, we are considered a vacation and second home community.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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FDIC Selling Off Detroit Inventory
In fact the agency’s head just announced this week that it has adjusted its estimate of how many of the nation’s banks are seriously in trouble of going out of business this year upward from 90 in Q1 2008 to 117 now. So it’s no wonder that it has no time to play nursemaid to a bunch of foreclosed real estate in foreclosure-laden Detroit, Mich. The Federal Deposit Insurance Corp. is having no trouble keeping busy these days.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Foreclosures: the Coming California Crash?
California foreclosure investors now have an opportunity to tap the knowledge of a 25-year real estate investing veteran who correctly predicted the last two major swings in the California real estate market and is on the verge of correctly predicting another. “Bruce Bruce Norris was dead right” about home prices in California doubling in the early 2000s after hitting bottom in 1997, said Michael Carney, Director of the Real Estate Research Council of Southern California. Carney went on to say that he thinks Norris’ latest prediction, made in early 2006, that foreclosures will soar and home prices will plummet in the next few years is also likely to be correct.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Gentle Ben Says the "R" Word...Finally!
Charles Schumer’s Joint Economic Committee this week, Bernanke reportedly admitted that the nation may actually be headed toward a recession. Many economists who were once naysayers — like Bernanke — are finally owning up to the fact that they may have been wrong, and that a recession is already here. Labor Department announced the loss of 80,000 jobs in March 2008, taking the nation’s unemployment rate from 4.8 Gentle Ben Bernanke has been careful not to ruffle any feathers on Capitol Hill since assuming his role as the chief caretaker of the U.S. economy. But
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Will Homeowners Sink or Swim?
The next big wave of news may be a true real-estate slump, as hundreds of billions in adjustable-rate mortgages reset, making it even more difficult for homeowners in depressed markets to meet higher monthly payments. Earlier in the year, there was a lot of discussion about a “soft landing” for the residential real estate market. 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. But as the rising tide of mortgage
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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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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Foreclosure Activity Deflating or Just Deferred?
The 3 percent decrease may lead some to speculate that the upward trend in foreclosure activity may be nearing an end, but as RealtyTrac CEO James J. In fact, the RealtyTrac report has shown month-to-month decreases in previous months, even during the dramatic run-up in foreclosure activity that has occurred over the past year and a half: in February 2008, November 2007, September 2007, June 2007, April 2007, and February 2007. U.S. foreclosure activity in June decreased 3 percent from the previous month but was still up 53 percent from June 2007, according to the RealtyTrac
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Statue Offers Homeowners a Prayer' of Hope
So far in 2008 nearly 240,000 households have been facing some stage of the foreclosure process on average every month. Even those homeowners who are not currently facing foreclosure may be at some point in time if they can’t sell their home. million) would consider asking their real estate agent to bury a four-inch statue of St. And then there’s those homeowners who just want to sell but don’t necessarily have to. No matter why they are trying to sell, today’s declining market is bad enough that some homeowners are starting to look at alternative
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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