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30 Articles match "2008","New York"
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The Latest from RealtyTrac
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Don't Dump Investors
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. According to the National Association of Realtors, the median price of an existing home rose from $124,800 in 1998 to $201,100 as of January 2008. Don’t Dump Investors By Peter G. Miller When it comes to bailing out giant banks, huge companies
www.realtytrac.com
- Tuesday, February 3, 2009
No Mortgage Meltdown For These Banks
Hudson has deposits of $49 billion, a network of 125 branches in New Jersey, New York and Connecticut and just 1,350 employees — a fraction of the workforce one would find with banks of similar size. As one example, Hermance says that of 50,000 New Jersey mortgages his bank bought back just two properties during a recent 12-month period. While 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
Long-Term Solution for Fannie and Freddie Dilemma
The huge problems at Fannie Mae and Freddie Mac were supposed to be resolved with new management and revamped accounting, but no resolution could revolve a basic issue: Private mortgage buyers are always at a disadvantage when competing against Fannie Mae and Freddie Mac. If the two GSEs are further harmed, the banking system itself will face additional financial threats. "The potential effects of a rescue become more complex for the holders of Fannies and Freddies $19 billion in subordinated debt, so-called because it ranks below other bonds in the companies capital structures," says
www.realtytrac.com
- Tuesday, February 3, 2009
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New York Versus Freddie Mac: Round One
It’s fight time in New York. On one side is newly-passed state legislation which sets tough standards for subprime and “high cost” loans and on the other is Freddie Ma
RealtyTrac Article Library
- Thursday, August 21, 2008
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New York Versus Freddie Mac: Round One
It’s fight time in New York. On one side is newly-passed state legislation which sets tough standards for subprime and “high cost” loans and on the other is Freddie Ma
RealtyTrac Article Library
- Thursday, August 21, 2008
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Freddie and Fannie Spurn New York Subprime Loans
Battle lines are being drawn in New York’s real estate market, pitting Freddie Mac and Fannie Mae against subprime lenders in New York. Last week, New York Governor David A. Under the new law, investors, including loan buyers like Freddie Mac and Fannie Mae, are held liable for mortgage fraud. Patterson signed into law a subprime lending reform bill (S.8143-A/A.10817-A), creating stringent lending guidelines for subprime lenders. It also lays out requirements for brokers to act in borrowers’ best interests, and mandates all local mortgage
www.foreclosurepulse.com
- Tuesday, December 16, 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. New York, for example, is expected to lose $10.4 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 consumer spending because of falling home
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; Foreclosure activity increased 112 percent in the first quarter of 2008, according to the RealtyTrac U.S. Senate Joint panel discussion titled “In the News: Current Issues Affecting the Default Servicing Industry.” rdquo; “The housing slump — accompanied by a surge in foreclosures — in the midst of a presidential election
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Beginner investors wise to avoid auctions
A recent New York Times article about foreclosure auctions reminded me why none of the experienced foreclosure investors Ive talked to recommend foreclosure auctions for people just getting started in real estate investing: "Yet while there is a tantalizing possibility of getting a deal, people who are intimately familiar with foreclosure auctions in New York — lawyers, mortgage bankers, brokers and former auction regulars — advise steering clear of them. Success is not impossible, but to even set foot in the ring you must put in hours of due diligence and overcome myriad obstacles,
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Bank-Repossession Beat Continues in March
The year-over-year increase in bank repossessions was even more dramatic in some states: 619 percent in Arizona; 597 percent in New York; 557 percent in California; and 464 percent in Florida. Anyone have ideas?
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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$15.75 million pre-foreclosure purchase of Don Johnson's home
million,according to records at the Pitkin County Clerk & Recorders Office. "An attorney for Johnson said Friday that a portion of the sale proceedswent toward paying off the alleged default to New York-based lenderD.E. A last-minute pre-foreclosure sale last week allowed actor Don Johnsonof televisions "Miami Vice," to avoid foreclosure on his Aspen, Colo.,estate, estate, according to an article in the Aspen Daily News . "Don Johnson may have saved his Woody Creek ranch frombeing sold Wednesday at a foreclosure auction, but it was because thecelebrity unloaded his 17-acre
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Appreciation Rates Foreshadow Foreclosures
New York and New Hampshire home prices also declined on a quarterly basis. Posted 12-08-2006 7:38 AM by darenb Filed under: Foreclosure Trends , Real Estate Trend 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
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. Meanwhile, Wall Street had started a new trading index to bet for or against subprime mortgages, called the ABX, which reflect the value of a pool of subprime mortgages made over a six month period. And things are looking even 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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