By Mike Colpitts As anxieties rise with the floodwaters along the mighty Mississippi River and residents flee for higher ground, the U.S. government is gearing up for the largest disaster aid commitment it has ever made. The Federal Emergency Management Agency has already dedicated funds to help disaster victims in eight states, including immediate foreclosure… Continue reading Disaster Housing Relief Provided in 8 States
Category: 2011 Housing Market
Home Sales Decline Slightly in April
By Kevin Chiu Home sales declined slightly in April, despite favorable home buying conditions, falling just 0.8% to a seasonally adjusted rate of 5.05 million units annually, but are still nearly 13% off the pace of last year when the home buyer tax credit was in effect, according to the National Association of Realtors. Existing… Continue reading Home Sales Decline Slightly in April
Real Estate Brokerage Helping Thousands Monthly
By Mike Colpitts A small real estate brokerage is waging a war against foreclosures, helping thousands of homeowners’ monthly by training real estate agents to coordinate short sales and get troubled homeowners out of their problem plagued mortgages. “We’ve directly assisted tens of thousands of homeowners,” said First Coast Realty Associates broker Mike Linkenauger. “We… Continue reading Real Estate Brokerage Helping Thousands Monthly
Homeowners Move to Fixed Rate Mortgages
By Kevin Chiu Nervous about their financial futures and holding on to their homes, consumers are shedding debt and transitioning to fixed rate mortgages in unprecedented numbers. An over-whelming 95% of refinances were fixed rate mortgages during the first quarter of the year, according to Freddie Mac. Millions of homeowners have been unable to refinance… Continue reading Homeowners Move to Fixed Rate Mortgages
Foreclosures Pose Clear and Present Danger
By Mike Colpitts Editor A clear and present danger is challenging the U.S. and it’s not the stuff that politicians in Washington, D.C. drudge up to drive fear emotionally charging the masses to sway public opinion. It’s the reality of our times — 7 million foreclosures that have already been formally repossessed by the banks,… Continue reading Foreclosures Pose Clear and Present Danger
NFL Quarterback Troy Aikman Taking Financial Beating
On the football field former NFL Quarterback Troy Aikman led the Dallas Cowboys to three Super Bowl championships, but in the troubled world of high-end real estate Aikman may soon be taking a financial beating. Aikman’s swank five bedroom, six bathroom mansion in a posh high-end Dallas neighborhood just had its priced slashed $3 million… Continue reading NFL Quarterback Troy Aikman Taking Financial Beating
Mortgage Rates Fall Two Weeks
By Mike Colpitts Mortgage rates fell for the second consecutive week as spring time weather gripped most of the nation to provide a boost for the home buying season, according to Freddie Mac. The rate on a fixed rate 30-year mortgage dropped to 4.71% from 4.78% the previous week. The rates on a 15-year fixed… Continue reading Mortgage Rates Fall Two Weeks
Hawaii Passes U.S. Toughest Foreclosure Law
By Kevin Chiu Hawaii lawmakers followed hard hit Nevada to become only the second state in the nation to approve one of the toughest foreclosure consumer aid laws in the U.S., passing the bill as the legislature closed its latest session. Senate Bill 651 is touted as a windfall for consumers, requiring mortgage lenders to… Continue reading Hawaii Passes U.S. Toughest Foreclosure Law
Extra Short Sale Losses to Exceed $375 Million
By Mike Colpitts Short sales in which lenders cooperate with homeowners to sell at a price lower than what is owed on a properties mortgage is costing the lending industry an estimated $375 million in additional losses in 2011, according to a study by a leading real estate research firm. The rate of fraudulent short-sale… Continue reading Extra Short Sale Losses to Exceed $375 Million
U.S. Home Sales Rise as Prices Fall
By Mike Colpitts Home sales rose during the first quarter of the year in 49 states as home prices fell in most areas of the U.S. from a year ago, according to the National Association of Realtors. The median price of a home fell in 118 of 153 metropolitan statistical areas the organization tracks. Existing… Continue reading U.S. Home Sales Rise as Prices Fall