Huge Rise in Walkaways

A growing number of homeowners are doing what was once unthinkable – strategically walking away from mortgages, and the trend is showing huge signs of increasing with the approval of academia. A consulting company working for financial institutions, Oliver Wyman estimates that 16% of current foreclosures are of mortgage borrowers intentionally walking away, choosing to… Continue reading Huge Rise in Walkaways

2013 Hawaii Housing Market

With the highest median home price of any state, at $522,000, Hawaii’s rebounding real estate market should even out in the near future, according to experts. Financial and property information provider Corelogic predicts Hawaii home prices will rise 3.2 percent between the first quarter of next year and the first quarter of 2014. That ranks… Continue reading 2013 Hawaii Housing Market

5 States Sustain Half of Foreclosures

By Ryan Jackson Nearly half of all foreclosures in the U.S. were in the five hardest hit states in the nation during June, with California, Florida and Michigan sustaining the highest number of failed mortgages, according to real estate research firm CoreLogic. Texas and Georgia also suffered major losses in terms of foreclosed properties. Combined,… Continue reading 5 States Sustain Half of Foreclosures

Hardest Hit States Foreclosures Slow

By Ryan Jackson Three of hardest hit states in the U.S. housing downturn have seen foreclosures drop by more than 25% providing a major sign of improvement for the nation’s housing market. Formal foreclosures in Nevada, Arizona and Michigan have been reduced at the highest level since the housing crisis started more than five years… Continue reading Hardest Hit States Foreclosures Slow

California Expands Hardest Hit Homeowner Aid

By Kevin Chiu As one of the Hardest Hit states in the U.S. in the housing crash, California is expanding its $2 billion program to help homeowners avoid foreclosure. But this increase will be dedicated to helping only second home or vacation homeowners. The proceeds, originally established by the California Housing Finance Agency from proceeds… Continue reading California Expands Hardest Hit Homeowner Aid

Hawaii Condos Go to Auction

Forty new Hawaii condominiums are being auctioned-off to the highest bidder featuring cozy lanais built to capture the cool cross wind breezes of Hawaii. The Kona Island condos are being auctioned with bids starting as low as $99,000, which would be a major steal for a vacation home in the Aloha State. The two-bedroom, two-bathroom… Continue reading Hawaii Condos Go to Auction

Jumbo Mortgage Rates to Feel Little Impact

By Mike Colpitts Loan limits on jumbo mortgages are scheduled to be slashed as a result of changes required in the Housing and Economic Act of 2008. However, the impact is expected to be limited by many lenders. The Federal Housing Administration (FHA) will reduce mortgage limits on loans in the highest metropolitan areas of… Continue reading Jumbo Mortgage Rates to Feel Little Impact