By Kevin Chiu Credit unions are attracting more business from conventional banks and mortgage lenders in the wake of the financial crisis, as bankers lose customers as a result of loose lending practices and distrust with the foreclosure of millions of homes. Risky mortgage lending practices, in which many banks turned a blind eye to… Continue reading Credit Unions Gain Mortgage Business
Category: Banks
BP Oil Spill May Miss Florida Panhandle
Destin, Florida — While thick oil piles up in the marshes along the Louisiana coastline from the BP oil spill, beaches along the Florida panhandle remain clear of the sledge with the exception of a few tar balls floating ashore in spotty areas. Growing indications show that the massive oil slick may miss the Florida… Continue reading BP Oil Spill May Miss Florida Panhandle
2010 Nevada Housing Market
High unemployment in construction, gaming and retail sales is contributing to the epidemic of foreclosures in Nevada, which has slowed as bankers hold back on foreclosing properties in an attempt to raise housing prices. An assortment of new casino projects under construction has been stopped in their tracks, victims of the global financial meltdown. Unemployment… Continue reading 2010 Nevada Housing Market
BP Oil Spill Washes Ashore in Florida
By Kevin Chiu Pensacola, Florida – As oil began to wash ashore from the BP oil slick in Pensacola, demonstrators gathered at a BP gas station in Pensacola Sunday, and at the beach down the coast in Navarre to protest against the oil giant for not bringing an end to the massive Louisiana oil spill… Continue reading BP Oil Spill Washes Ashore in Florida
Very Low Confidence in Housing Market
Very Low Confidence in Housing Market Consumer confidence in the housing market is near a modern all-time low, according to a new Housing Predictor opinion poll. The survey found that a huge majority of those polled feel the housing market is not improving, despite a series of government programs and other efforts to re-energize the… Continue reading Very Low Confidence in Housing Market
BP Oil Spill Strikes Florida with Snow Ball Effect
By Mike Colpitts Wallowing in pain from the financial crisis, its real estate markets bruised and battered Florida’s panhandle beaches are being struck by the gushing oil spill from the Louisiana BP oil well. Call it “the Snow Ball Effect” of this mighty economic, environmental and real estate catastrophe. It’s a snow ball of extremes,… Continue reading BP Oil Spill Strikes Florida with Snow Ball Effect
Mortgage Rates Barely Budge
By Cheryl Reams Mortgage rates on a conventional 30-year loan barely budged from last week, rising a slim one-hundredth of one percent to 4.79% on average, according to Freddie Mac. Applications for home loans also slowed. The 30-year fixed rate mortgage is the barometer of mortgage rates, remaining at or near its lowest level for… Continue reading Mortgage Rates Barely Budge
Home Market Stabilization Gains Momentum
By Kevin Chiu Housing sales rose in April as the federal tax credit expired, and pending home sales increased for four straight months, indicating that momentum is building in the housing market setting up a pattern of stabilization. Aided by lower home prices, the momentum of sales is expected to slow and then rise over… Continue reading Home Market Stabilization Gains Momentum
BP Oil near Florida Beaches
Down on the Gulf of Mexico – Living through the last 45 days has been like living through a nightmare for residents along the Gulf Coast, anxiously waiting and worrying what the BP oil disaster will send our way. The plume of massive oil is growing and moving ever closer to the shoreline of Florida.… Continue reading BP Oil near Florida Beaches
Default Mortgages Ease to 7.3 Million
By Kevin Chiu Mortgages in default and foreclosed homes account for just over 7.3-million homes, according to Lender Processing Services, the nation’s largest provider of mortgage servicing data. The widespread volume of distressed properties indicates that by any measure a full recovery in the housing market is not possible for more than a year. Homes… Continue reading Default Mortgages Ease to 7.3 Million