Category: Foreclosure

Investing in Rental Housing

By Lois A. Vitt, Ph.D. Reasons for investing in rental housing include opportunities to make a profit, tax advantages to write-off mortgages and income from rents. So why not make the decision to buy more than one home—perhaps two, three, or even more? If you have what it takes to invest in and manage rental… Continue reading Investing in Rental Housing

Pending Home Sales Rise as Mortgage Rates Fall

Demonstrating that markets make erratic movements even in the midst of a decline, pending home sales rose slightly in July over June, according to the National Association of Realtors, while mortgage rates continued their downward slide. A 30-year fixed rate mortgage declined to 4.32% down .04% from a week ago, according to Freddie Mac. Pending… Continue reading Pending Home Sales Rise as Mortgage Rates Fall

Fresh Evidence Rescue Program Stalls

There are no gifts in this housing recovery. Homeowners received the lowest number of permanent modifications since Christmas this last month through the Obama administration’s Making Home Affordable program, and the number of homeowners dropping out of the rescue program is rising. Nearly half of the number of people entering the program has dropped out… Continue reading Fresh Evidence Rescue Program Stalls

Housing Conference to Fix Mortgage Giants

By Mike Colpitts Treasury Secretary Tim Geithner told attendees at the White House conference called to fix the nation’s mortgage giants, Fannie Mae and Freddie Mac the work to repair the nation’s mortgage business needs to be a bi-partisan effort. “Fixing this system is one of the most consequential and complicated economic policy problems we… Continue reading Housing Conference to Fix Mortgage Giants

Foreclosure Crisis Aided by Company

By Mike Colpitts A New Jersey company has introduced a real estate investment program that’s helping to solve America’s foreclosure crisis, selling low priced older homes to investors that net as much as 16% in profit a month. First Fidelity Homes of Teaneck, New Jersey purchases homes from banks and mortgage companies in bulk, and… Continue reading Foreclosure Crisis Aided by Company

Foreclosures Rise in July

By Mike Colpitts Foreclosure auctions rose in July, but were down from their peak 14% for the month on residential properties nationally, according to the Realty Trac. However, all initial foreclosure notices issued against properties for the month showed a sharp increase. It was the seventeenth consecutive month total foreclosure activity topped 300,000 units. All… Continue reading Foreclosures Rise in July

Mortgages Applications Decline as Refinances Slow

Despite record low interest rates, mortgage applications declined for the first time in weeks last week, including an unexpected slow down in applications for home refinances, the Mortgage Bankers Association said. Applications declined 4.4% on a seasonally adjusted basis from a week ago, and a whopping 5.9% on refinancing alone. The decline marks a slowdown… Continue reading Mortgages Applications Decline as Refinances Slow

Mortgage Loan Fraud Declines

By Kevin Chiu Mortgage loan fraud has declined 25% since its peak in 2007, according to a survey conducted by Core Logic, a real estate research firm that monitors more than 3,000 local U.S. housing markets. The study was released on the heels of the largest Justice Department crackdown in history on perpetrators of mortgage… Continue reading Mortgage Loan Fraud Declines

Over Whelming Majority Feel U.S. in Economic Depression

An over whelming majority of Americans feel the U.S. economy is in an economic depression, despite government and mass media reports to the contrary. A huge 87% of all those surveyed in the latest Housing Predictor opinion poll say the economy is in a depression. The down beat poll found that only 13% surveyed in… Continue reading Over Whelming Majority Feel U.S. in Economic Depression