12 Articles match "2008","Release","Washington"

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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. billion in economic activity in 2008, followed by Los Angeles at $8.3 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
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• When Foreclosure Is Not Politically Correct
  
  14, 2007 for $18,356, followed by a Notice of Trustees Sale being recorded on March 19, 2008. The Trustee’s Deed transferring the property to Red Rock was recorded on May 19, 2008, according to the Long Beach Press-Telegram . At the time of sale Richardson allegedly owed her lender, Washington Mutual, more than $578,000 thanks to the 100 percent financing used to purchase the home and the additional fees and costs incurred by foreclosure. Typically when you read about a politician and foreclosure, it’s in relation to some piece of legislation created to combat the recent surge in foreclosures.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• May Home Prices Down 4.8 Percent
  
  Home prices were down again in May, but a few regions of the country experienced a ever-slight uptick in prices from the previous month, giving officials at the Office of Federal Housing Enterprise Oversight (OFHEO) a chance to be cautiously optimistic in the press release announcing the numbers. "It Lockhart in the release. quot;It is very hard to draw conclusions from a one-month number, especially in these uncertain times; but the numbers in the Pacific, East and West North Central Divisions may be good signs," said OFHEO Director James B. Nationwide, the OFHEO report
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Home Prices Fall Deeper Into the Abyss
  
  Homeowners across the country may be feeling a bit like Mel Brooks’ character from his movie “High Anxiety” now that Standard and Poor’s has released its May numbers for the S&P/Case-Shiller Home Price Indices . Washington, Los Angeles, New York and Miami are highlighted in a S&P press release as the best performing markets overall since January 2000. In the movie, Brooks’ character nervously sweats every time he even thinks about getting into an elevator. Well, the nation’s homeowners are sweating it out now, being taken on the
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• And the Hits' Just Keep On Coming!
  
  Washington Mutual and Merrill Lynch. Now with the first week of October behind us, Citigroup, Washington Mutual (WaMu as it likes to be known) and Merrill Lynch announced their organizations would be taking major hits in the pocketbook for the third quarter of 2007. As for Merrill Lynch , a release distributed Friday by the company said it also expects to report a loss for the third quarter. Countrywide. Citigroup.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• 40 Is the New 30 for Lenders and Investors
  
  Wells Fargo, for example, just announced that it is joining the growing number of lenders, like Washington Mutual and Bank of America, that are offering 40-year fixed-rate loans. Tauting the lower monthly payments the new product offers will appeal to first-time buyers, consumers in high-cost markets, real estate investors and buyers on a fixed income, the companys press release also warns that equity will build up more slowly as a result of the lower payments and a lot more total interest will be paid over the extra 10 years. 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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• Realtors '07 Forecast Looks Promising for Future Foreclosure Activity
  
  The expectations of the California Realtors is less bleak than a new housing report, "Housing at the Tipping Point," released this month by Moody’s Economy.com that predicts sharp declines, some nearing 20 percent in many metropolitan areas of California, Arizona, Nevada, Florida, Washington, D.C. LONG BEACH, Calif. — If California’s economic indicators stay at their present course, 2007 should be a very good year for investing and purchasing foreclosure properties at bargain prices.
  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. It warns cities in California, Nevada, New Jersey, New York and Michigan, as well as the greater Washington, D.C. The study, which cites RealtyTrac numbers as one of its sources, looked at subprime foreclosure rates from 1998 through 2006 and closely ties those rates to house price appreciation.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Economic Indicators: Image Is Everything
  
  When reports of telltale economic indicators are released, if Wall Street perceives them as bad, the market takes an immediate tumble. Four real estate industry related reports have already been released this week, and Wall Street has reacted. percent), while Phoenix, San Diego, Los Angeles, Detroit, Tampa, San Francisco, Washington, D.C. When it comes to purchasing real estate — either as a primary residence or as an investment — perception is everything. But when the indicators reported come is as expected, the reaction is generally good and we see an uptick in market activity.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Almost Like Reliving the Nineties
  
  After last week’s disappointing employment report was released by the U.S. And we continue to believe that it will take a true recovery of the housing sector before the nation pulls out of the black hole it’s falling into thanks to seven years of poor financial planning in Washington and the too little too late kneejerk response of the Federal Reserve. Later this week, 600 community leaders from around the nation are set to descend on Washington as the National Community Reinvestment Coalition (NCRC) Well, in case you either weren’t in the business at that time, or were hoping to erase the nightmare permanently, welcome to the early 1990s redeaux…almost!
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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