12 Articles match "January","Real Estate","Release"

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Legislating Lower Foreclosure Rates?
One such law is Illinois Senate Bill 2349 , which passed back in June and is scheduled to become effective January 1, 2007. This law is aimed at providing “consumer protections against property fraud for homeowners who are in default or foreclosure,” according to a press release put out by Illinois Gov. That will leave defaulted homeowners with fewer options to avoid foreclosure, let alone recoup any equity they might have in their home. An Illinois law intended to help reduce foreclosures is drawing cries of discrimination from some of the people it is trying to protect, according to the Chicago Defender newspaper. “Nearly 60 days after Illinois House Bill 4050 went into effect to supposedly protect consumers from predatory lenders, a coalition of Black and Latino city residents say the new law is actually destroying property values in select minority communities.” The law is a pilot program that is being applied in 10 Chicago zip codes chosen for their high foreclosure rates, among other factors.
www.foreclosurepulse.com - Tuesday, December 16, 2008
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Governor Suspends Controversial Law Affecting Investors
But House Bill 4050 (renamed Public Act 94-280) is now null and void, which should be a relief to real estate investors and prospective homebuyers looking for bargain property in south Chicago . Rod Blagojevich suspended the law on January 19, 2007. A statement released by Dean Martinez, Secretary, Department of Financial and Professional Regulation, explained It was controversial when it took effect, and it remained controversial until public officials decided enough was enough – roughly a little more than a year later. Responding to the public outcry of legislative
www.foreclosurepulse.com - Tuesday, December 16, 2008
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Subprime Market Sinking Further Into the Abyss
The latest developments in the subprime lending market should have the entire real estate industry up in arms (figuratively and literally). which just last month was boasting an increase in loan production for January 2007 over numbers reported for the same month a year earlier. The Mortgage Bankers Association released a response Friday calling for federal regulators to “avoid an overreaction to an evolving marketplace The problem has gone far beyond the $1 trillion worth of so-called “exotic” adjustable rate loans resetting in each of the next two years. Borrowers
www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • The Best from RealtyTrac MORE
  • Gentle January Foreclosure Increase
    Although they were up 57 percent from January 2007 and 8 percent from December, the January foreclosure numbers released today by RealtyTrac do not appear to represent the massive wave of foreclosures that is expected to hit sometime soon thanks to the rash of risky loans given to borrowers as late as just last year . Its too early too tell if the relatively meek January numbers mean more distressed homeowners are staving off foreclosure thanks to increasingly pro-active lenders and government intervention , or if they just represent the first few raindrops of what
    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 . percent from May 2007 to a level below where home prices stood back in January 2000. Washington, 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 descending elevator ride of their lives, especially those
    www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • U.S. Housing Starts Rise, Though Permits Fall
    million units economists had predicted and the largest monthly increase since January 2006. Market watchers and economists are predicting that the central bank will leave interest rates unchanged for the sixth straight time, but the statement it releases Wednesday could provide insight into whether it sees inflation as a bigger threat than the economy’s sluggishness. To say on top of all the latest news and events in the real estate industry, go to RealtyTrac’s News & Events The pace of new home construction jumped in February by the largest amount in more than a year, but building permits continued to decline, indicating future weakness in the housing market, according a new Commerce Department report today.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • Foreclosure Downpour Continues in May
    Foreclosure Market Report released today. households received a foreclosure filing during the month, the highest monthly foreclosure rate since RealtyTrac began issuing its report in January 2005. It's apparent from the report that a high inventory of foreclosures will continue to saddle the real estate market. 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. The report showed one in every 483 U.S.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • Economic Indicators: Image Is Everything
    When it comes to purchasing real estate — either as a primary residence or as an investment — perception is everything. When reports of telltale economic indicators are released, if Wall Street perceives them as bad, the market takes an immediate tumble. So it is with real estate. But when the indicators reported come is as expected, the reaction is generally good and we see an uptick in market activity. Four real estate industry related reports have already been released this week, and Wall Street has reacted.
    www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • Subprime Market Sinking Further Into the Abyss
    The latest developments in the subprime lending market should have the entire real estate industry up in arms (figuratively and literally). which just last month was boasting an increase in loan production for January 2007 over numbers reported for the same month a year earlier. The Mortgage Bankers Association released a response Friday calling for federal regulators to “avoid an overreaction to an evolving marketplace The problem has gone far beyond the $1 trillion worth of so-called “exotic” adjustable rate loans resetting in each of the next two years. Borrowers
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • MBA Survey Confirms Q1 Foreclosure Surge
    The first quarter MBA National Delinquency Survey released today largely supports the findings of the RealtyTrac Q1 2008 U.S. Foreclosure Market Report released at the end of April, which found overall foreclosure activity increased 23 percent from the fourth quarter of 2007 and 112 percent from the first quarter of 2007. The total number of properties with foreclosure filings in the RealtyTrac April report was the highest monthly total since That closely mirrored the trend in MBA’s foreclosure rate, which put the percentage of loans in the foreclosure process at 2.47
    www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • Michigan Goes Hollywood to Help Homeowners
    Since January 2006 Michigan has ranked in RealtyTrac’s top 10 states with the greatest foreclosure activity in the nation, most of that time maintaining a position in the top five. In a press release distributed by the Michigan State Housing Development Authority , the goal of the show is to provide programming that will give “realistic advice to improve the quality of life for everyone and lead to vibrant cities and neighborhoods across the state.” Lights! Camera!
    www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • Governor Suspends Controversial Law Affecting Investors
    But House Bill 4050 (renamed Public Act 94-280) is now null and void, which should be a relief to real estate investors and prospective homebuyers looking for bargain property in south Chicago . Rod Blagojevich suspended the law on January 19, 2007. A statement released by Dean Martinez, Secretary, Department of Financial and Professional Regulation, explained It was controversial when it took effect, and it remained controversial until public officials decided enough was enough – roughly a little more than a year later. Responding to the public outcry of legislative
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • Foreclosure Activity Deflating or Just Deferred?
    Foreclosure Market Report released today. Meanwhile, REO (bank repossession) activity actually decreased on a YOY basis in January and February of 2007 but gradually started to gain momentum in the second half of 2007, and increases in REOs have far outpaced the increases in defaults and auctions in all six months of 2008. One could argue that this chart shows that the bulk of the properties that were at risk for foreclosure have migrated through the process and are now being repossessed by the foreclosing lenders. There is U.S. foreclosure activity in June decreased 3 percent
    www.foreclosurepulse.com - Tuesday, December 16, 2008
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