Category: Banks

No Surprises in Housing Depression

The evidence is piling up and it’s almost amazing to see that the mainstream media, which regurgitates Washington, D.C. propaganda daily, is almost coming around. There are no surprises in government data points and the National Association of Realtors Association pending home index showing that home sales are falling miserably. It all shows that the… Continue reading No Surprises in Housing Depression

Warning Signs the House Next Door is a Meth Lab

When Arkansas retiree Franklin Huff stepped onto his front porch with his morning coffee and a newspaper, he didn’t plan to break up a meth ring, especially one operating close to the home he’d lived in for more than 20 years in his own affluent neighborhood. “I noticed black smoke pouring from the chimney, and… Continue reading Warning Signs the House Next Door is a Meth Lab

Mortgage Applications Rise

Applications for home mortgages and refinances are soaring higher, showing an increase in activity in home sales and refinancing as a result of near record low loan rates, according to the Mortgage Bankers Association. Low rates coupled with lower home prices are producing the rise in applications. The volume of home re-sales, however, scheduled to… Continue reading Mortgage Applications Rise

Secrets of a Countrywide Insider

For nearly four years Willie Pena worked as a home loan consultant for Countrywide Home Loans in Seattle, Washington from late 2003 until mid-2007 where he sold loans to home buyers in the harrowing days of the real estate boom. Like many consultants Countrywide hired, Pena had no experience in the field until being hired… Continue reading Secrets of a Countrywide Insider

Bank of America Charged in Home Loan Scheme

By Kevin Chiu A massive class action lawsuit has been filed against Bank of America by the Texas Housing Justice League, representing 15 mortgage holders charging the nation’s biggest bank with “a systematic home loan servicing scheme.” The lawsuit by the Texas Housing Justice League (THJL), a nonprofit may eventually involve thousands of Texas mortgage… Continue reading Bank of America Charged in Home Loan Scheme

New Urbanism Living on the Rise

New Urbanism, the revitalization of existing downtowns offering a variety of conveniences and amenities is on the rise. New lifestyle communities provide comfort, luxury, and safety for residents combined with the convenience of nearby shopping, dining and entertainment. Benefits of New Urbanism include leaving a smaller carbon footprint on the environment. People that live downturn… Continue reading New Urbanism Living on the Rise

Mortgage Rates Stay Unchanged

By Mike Colpitts Fixed rate mortgage interest rates remained unchanged for the first time in months this week at record low levels with a conventional 30-year mortgage at 4.57% on average, according to Fannie Mae. Mortgage rates are at the lowest level they have been at in 50 years, supporting mortgage affordability for home buyers… Continue reading Mortgage Rates Stay Unchanged

Growing Unemployment Drives Foreclosures Higher

Troubled by growing unemployment and decaying consumer confidence, foreclosures were higher in the first half of the year over 2009, despite a decline in filings over the last six months, according to the Realty Trac mid-year report. Some 1,654,634 residential properties were filed against during the first half of the year. However, foreclosure notices, including… Continue reading Growing Unemployment Drives Foreclosures Higher

Housing Market in Free-Fall

By Mike Colpitts Growing consumer unrest over the economy, real unemployment reaching levels that have not been seen since the Great Depression and falling home sales has triggered a housing market in the majority of the U.S. that is in a free-fall. Purchase applications for home mortgages fell to the lowest level since 1996, and… Continue reading Housing Market in Free-Fall