Category: 2011 Housing Market

Wealth Effect Impact Enormous on U.S.

By Kevin Chiu The impact of the now near fatal “Wealth Effect” on the US is enormous with weakening consumer confidence over the economy. Just in case you hadn’t heard of it before, the Wealth Effect is the way people feel about their personal financial condition as a result of equity in their home or… Continue reading Wealth Effect Impact Enormous on U.S.

Underwater Homeowners Numbers Surge

By Mike Colpitts The number of homeowners underwater on mortgages reached 11.1 million during the final quarter of 2011, representing 22.8% of U.S. residential properties, according to real estate data firm CoreLogic. The increase marks a surge of 400,000 mortgage holders who are upside down on mortgages from the previous quarter. Declining home values in… Continue reading Underwater Homeowners Numbers Surge

Steps to Find the Best Real Estate Agent in Today’s Market

By Kim Olson Finding “just the right home for you” can be daunting, especially if you’re moving to an area that you’re not familiar with. Fortunately, a good real estate agent can really make the process much easier. Follow these steps to find the best real estate agent in today’s troubled market, and your search… Continue reading Steps to Find the Best Real Estate Agent in Today’s Market

Mortgages Drop, Despite Decline in Rates

Applications for home mortgages dropped 6.5% for the week, despite a decline in mortgage interest rates, according to the Mortgage Bankers Association. The drop came as a result of fewer homeowners and potential new home buyers applied for mortgages as the U.S. economy deals with a series of challenges, including long term concerns over higher… Continue reading Mortgages Drop, Despite Decline in Rates

Maine Robo-Signing Cases Thrown Out

By Kevin Chiu A federal judge in Maine has thrown out two of three charges against GMAC Mortgage in a highly publicized robo-signing foreclosure lawsuit that could set a precedent for similar actions. U.S. District Judge Brock Hornby dismissed claims from homeowners seeking financial damages from GMAC for improper foreclosures as a result of foreclosure… Continue reading Maine Robo-Signing Cases Thrown Out

Mortgage Rates Drop Amid Middle-East Turmoil

By Kevin Chiu Mortgage rates dropped for the second week in a row as violence breaking out in the Middle–East troubled financial markets, according to Freddie Mac. Rates on fixed rate loans and adjustable mortgages all fell below last weeks levels. The interest rate on a 30-year fixed rate mortgage averaged 4.95% with 0.6 point… Continue reading Mortgage Rates Drop Amid Middle-East Turmoil

Victims of a Reverse Mortgage

By Sandy Jolley In Her Own Words This story is about my parents, Patricia and Richard Hickerson who were sold a reverse mortgage that was not needed or appropriate for their circumstances. It’s a tragic story of deceit, fraud and purposefully targeting vulnerable seniors to deprive them of their property, retirement, dignity and quality of… Continue reading Victims of a Reverse Mortgage

Donald Trump Runs for President

By Mike Colpitts The political winds that got the U.S. into the financial mess may actually have a chance to change. Donald Trump has all but announced he’s running for president. The real estate mogul is starting to work the TV talk show circuit in preparation for a June announcement that he will compete against… Continue reading Donald Trump Runs for President

Record Low Mortgage Rates Remain Steady

By Mike Colpitts Hitting their all-time record lows for three straight weeks, mortgage rates remain steadily low as lenders keep rates at their lowest levels in  U.S.  history. The majority of Americans expect rates to see no change over the next year, according to Fannie Mae. The average rate on a fixed 30-year mortgage was… Continue reading Record Low Mortgage Rates Remain Steady