In the first indication that growing public complaints are affecting White House policy in relationship to its housing rescue plan, the Obama administration is moving against bankers. The Treasury Department’s TARP chief Herb Allison announced new protections for homeowners who are in the mortgage modification process. The Troubled Assets and Relief Program chief made the… Continue reading White House Moves Against Bankers
Home Sales Decline Slightly
Sales of existing homes fell slightly in February for the third month in a row, according to the National Association of Realtors. The drop was only 0.6 percent nationally to a seasonally adjusted rate of 5.02-million units. The decline in home sales demonstrates the slowdown in the housing market persists, despite government programs to re-ignite… Continue reading Home Sales Decline Slightly
News Releases from Housing Predictor
News Releases News releases are posted from the newest to the oldest. The news releases posted here are for the use of news organizations, web site owners and bloggers, who want to keep their visitors up to date on the latest Housing Predictor news. They are provided here for you to copy and paste on… Continue reading News Releases from Housing Predictor
Record 7.5 Million Homes in Default
More than a record 7.5 million residential mortgages are delinquent or in foreclosure, and one million other properties are either banked owned or are waiting to be resold, according to Lender Processing Services, Inc. the nation’s largest provider of mortgage data. The February report shows historic numbers, but also indicates that the pace of deterioration… Continue reading Record 7.5 Million Homes in Default
Housing Relief Gaining Momentum with Expansion of Efforts
Acknowledging that its housing relief rescue mission has been slow to respond to the foreclosure crisis, the government is expanding its efforts “to more effectively combat the ongoing effects of the housing crisis.” A new initiative announced by Housing and Urban Development (HUD) Secretary Shaun Donovan seeks to find more ways that help local communities… Continue reading Housing Relief Gaining Momentum with Expansion of Efforts
Worst is Over as Housing Deflation Peaks
Despite an on-coming wave of foreclosures, the worst is behind the majority of U.S. housing markets, according to a new assessment by Housing Predictor. Real estate deflation has been the worst in three states, topping 75% in the hardest hit markets of the country. But it has begun to slow as a result of a… Continue reading Worst is Over as Housing Deflation Peaks
New Rules of Real Estate
Manufactured by a combination of Wall Street financial manipulation, overly creative banking practices, greed and plenty of fraud the real estate crash over the last three years has developed a whole new rule book for buying and selling property. Here are the 10 best new rules to keep in mind before you venture out into… Continue reading New Rules of Real Estate
Dirty Money Sealed Dodd’s Fate
By Kevin Chiu Embattled U.S. Senator Chris Dodd, the chairman of the senate banking committee, released his financial reform package at a press conference and it appears it will be one of the last significant actions the Congressmen will be making in Washington, D.C. Dodd, who announced late last year he will not be seeking… Continue reading Dirty Money Sealed Dodd’s Fate
Negotiating a Short Sale with Success
Negotiating a successful short sale with a bank on a home or other real estate may be a grueling task that could take months to achieve. But as foreclosures increase bankers seem more willing to negotiate to make a deal work – in some cases. There are a series of pitfalls along the way that… Continue reading Negotiating a Short Sale with Success
Mortgage Modifications Improve
Mortgage modifications have resulted in more than one million mortgage borrowers receiving a median savings of $500 a month, according to the Treasury Department. The improvement represents a 36% savings in mortgage costs to home borrowers. The temporary modifications are part of the government’s Home Affordable Modification Program (HAMP), which has been troubled by a… Continue reading Mortgage Modifications Improve