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17 Articles match "2008","Sales","Washington"
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Long-Term Solution for Fannie and Freddie Dilemma
If Fannie Mae and Freddie Mac collapse the result would be the wholesale destruction of the national mortgage system; a virtual halt to home sales because few local mortgages would be available; soaring interest rates because few loans would be available and a level of losses throughout the economy unseen since the Great Depression. Second, some people think it would be a really good idea to dismember Fannie Mae and Freddie Mac. "I say that we cant let them go fast enough," explains a commenter by the name of Wazzel who posted on the Washington Independent website. "Let Long-Term Solution for Fannie and Freddie Dilemma By Peter G.
www.realtytrac.com
- Tuesday, February 3, 2009
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Screech from "Saved by the Bell" in Foreclosure
The Associated Press is reporting that actor Dustin Diamond from televisions "Saved by the Bell" is selling T-shirts to help bail his home out of foreclosure. "Diamond, 29, is trying to sell nearly 30,000 shirts – at $15 or $20 (autographed) each – to supplement the income he makes as a standup comic so he doesn’t have to move from his Port Washington home, about 25 miles north of Milwaukee." Any advice from you investors out there if the T-shirt sales dont work out? Posted 06-22-2006 3:18 PM by darenb Filed
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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Rate Cut, Real GDP Are Some Positive News
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. percent during the first quarter of 2008, the same rate of increase as tracked for the fourth quarter 2007. In the first, and the more closely watched of the two, the Federal Reserve took a much anticipated move to lessen the pressure on the nation’s economy by lowering the federal funds rate another 25 basis points to 2 percent (that’s a long way down from the 5.25
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Realtors '07 Forecast Looks Promising for Future Foreclosure Activity
At Wednesday’s Opening Session of California Realtor EXPO 2006, Leslie Appleton-Young, Chief Economist for the California Association of Realtors, presented her housing forecast for next year , calling for the state’s median home price to drop for the first time in 10 years and the pace of home sales to continue to decrease. The CAR forecast also calls for a 2 percent drop in the state’s median home price next year from a projected median price of $561,000 for 2006, down to a projected median of $550,000 in 2007 — a stark contrast to a year ago when most forecasters were predicting
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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As Foreclosures Mount, Candidates React to the Credit Crisis
With mortgage foreclosures at historic highs, Democrats and Republicans are fighting over a political issue that could have major implications in the 2008 presidential campaign. Meanwhile, the rising flood of foreclosures promises to become a major presidential campaign issue in the weeks and months ahead because an alarming 2 million American homeowners could lose their homes by November 2008. Sensing an opportunity to win votes, the major presidential candidates have come out swinging; proposing a variety of prescriptions to ease the worsening housing slump.Both the White House and Democrat leaders in Congress agree that something must be done to stop the foreclosures.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Where to find the best deals on foreclosures
Our analysis of nationwide foreclosure property sales in the last seven months shows that while some areas of the country documented a plethora of properties in foreclosure and big savings on foreclosure purchases, other areas reported relatively low foreclosure inventories and smaller average savings on foreclosure purchases. In addition, the low average sales price of foreclosures in these states makes it easier to purchase a foreclosure property — especially at foreclosure auctions, where the full amount in cash is sometimes required. 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.
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. Ongoing weakness in the housing market, along with held-for-sale mortgages, net losses in the company’s trading securities portfolio and losses on investment grade mortgage-backed securities were cited as key contributors to the projected loss for the quarter. Countrywide. Citigroup.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Not Enough Rope in Administration's Lifeline' Program
Washington Mutual and Wells Fargo & Co. — Plus, the program is not available to borrowers who are within 30 days of the property’s foreclosure sale (in most states known as the Trustee’s Sale or Sheriff’s Sale and normally conducted on the local courthouse steps). Just a few short months ago President Bush stood in front of the press and swore that it was not the federal government’s job to bail out either lenders who made bad loans or speculative homebuyers who purchased more home than they could rightly afford utilizing the so-called “exotic” or “liar loans” popularized over the past few years.
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. Even though prices are up, home sales volume is down dramatically -- just ask the National Association of Realtors -- homeowners are not refinancing anywhere near the levels seen even just a year ago, and the number of new homes under construction is declining as is building permits. 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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Ohio Lawmaker Seeks Solution to Foreclosure Level
It looks like foreclosures are starting to become a national call to action for some Washington bureaucrats. Mortgage delinquencies continue to rise, the number of single-family permits are declining, the rate of home price appreciation is below the national average, and the state’s median home price declined in Q1, although home sales were up 6 percent for the quarter One news report on the outcome of the meeting has witnesses placing blame squarely on easy lending practices, which is the same story heard in many states around the country right now. One example — Rep. Steven
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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