4 Articles match "Denver","Sales"

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Getting Help to Stop Foreclosure, Avoid Home Foreclosure Process - RealtyTrac
Its suggestions: increase federal support for local foreclosure prevention programs; strengthen and reform the FHA; strengthen regulation of mortgage origination at the federal level; create a federal anti-predatory lending law that bans unfair and deceptive practices; establish borrowers ability to pay standards; and disclosure relating to alternative mortgage products must be enhanced. Denvers Foreclosure Task Force recently issued its recommendations on how to reduce the number of homes in foreclosure. raquo; How to Avoid Foreclosures FAQs » Avoiding a Home Foreclosure
www.realtytrac.com - Tuesday, February 3, 2009
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FHA Program Linked to High Colorado Foreclosure Rate
An illuminating article in the Denver Post connects the dots between Colorado’s high foreclosure rate and an FHA program gone awry: “Created to extend the dream of homeownership to first-time buyers, the so-called FHA gift program instead has led to rampant foreclosures. The purchase price of the home was raised to cover the “gift” shelled out by the seller, and appraisals were fudged to allow the buyer to take out a loan that covered the inflated sales price along with most of the closing costs. Nearly 6,000 FHA loans have wound up in foreclosure in Colorado in the past two years, and during that time the program allowed more than 25 percent of FHA buyers to use gifts as down payments.” The article recounts several stories of homeowners who paid just a few hundred dollars to buy their home, using a loophole in the program to obtain the 3 percent required down payment from the sellers — by way of a nonprofit agency.
www.foreclosurepulse.com - Tuesday, December 16, 2008
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Motor City Tops MSA Foreclosure List in Q3
Lauderdale and Denver . This trend corresponds to what RealtyTrac is seeing in the national real estate market where sales volume is slowing down — heading negative in many areas of the country — price appreciation has slowed to either single-digit rates or even negative rates in a few instances, and interest rates on adjustable-rate mortgages are starting to reset to higher levels. Detroit Foreclosure Rate Heat Map -- October 2006 Posted 11-15-2006 12:30 PM by joelc Filed under: Foreclosure
www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • Motor City Tops MSA Foreclosure List in Q3
    Lauderdale and Denver . This trend corresponds to what RealtyTrac is seeing in the national real estate market where sales volume is slowing down — heading negative in many areas of the country — price appreciation has slowed to either single-digit rates or even negative rates in a few instances, and interest rates on adjustable-rate mortgages are starting to reset to higher levels. Detroit Foreclosure Rate Heat Map -- October 2006 Posted 11-15-2006 12:30 PM by joelc Filed under: Foreclosure
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • FHA Program Linked to High Colorado Foreclosure Rate
    An illuminating article in the Denver Post connects the dots between Colorado’s high foreclosure rate and an FHA program gone awry: “Created to extend the dream of homeownership to first-time buyers, the so-called FHA gift program instead has led to rampant foreclosures. The purchase price of the home was raised to cover the “gift” shelled out by the seller, and appraisals were fudged to allow the buyer to take out a loan that covered the inflated sales price along with most of the closing costs. Nearly 6,000 FHA loans have wound up in foreclosure in Colorado in the past two years, and during that time the program allowed more than 25 percent of FHA buyers to use gifts as down payments.” The article recounts several stories of homeowners who paid just a few hundred dollars to buy their home, using a loophole in the program to obtain the 3 percent required down payment from the sellers — by way of a nonprofit agency.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • Foreclosure Filings Soar 90 Percent
    Saccacio, chief executive officer of RealtyTrac, said a jump in foreclosures at a time of year that traditionally is the busiest for home sales means the slide in prices probably isn't over. “Such strong activity in the midst of the typical spring buying season could foreshadow even higher foreclosure levels later in the year,” said Saccacio. “Certainly Denver, Colo. (1 A growing number of American homeowners across the country are getting foreclosure notices, according to new data released this week by RealtyTrac. U.S.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • Getting Help to Stop Foreclosure, Avoid Home Foreclosure Process - RealtyTrac
    Its suggestions: increase federal support for local foreclosure prevention programs; strengthen and reform the FHA; strengthen regulation of mortgage origination at the federal level; create a federal anti-predatory lending law that bans unfair and deceptive practices; establish borrowers ability to pay standards; and disclosure relating to alternative mortgage products must be enhanced. Denvers Foreclosure Task Force recently issued its recommendations on how to reduce the number of homes in foreclosure. raquo; How to Avoid Foreclosures FAQs » Avoiding a Home Foreclosure
    www.realtytrac.com - Tuesday, February 3, 2009
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