Foreclosures Surge Higher in March

By Kevin Chiu Foreclosure notices jumped almost 19% in March from the previous month, and ended the quarter a full 7% above the last quarter of 2009, according to the monthly Realty Trac report. The surge in foreclosures starting the process to be repossessed by lenders indicates a major rise in the number of homes… Continue reading Foreclosures Surge Higher in March

Housing Recovery Gains Traction

The government’s mortgage modification program is on track to produce up to 4-million loan modifications, according to White House officials. The plan started to aid the ailing home market has prompted banks that are not part of the program to modify mortgages, gaining traction towards a housing recovery. The efforts are likely to result in… Continue reading Housing Recovery Gains Traction

Home Buyers Deadline Nears

Home buyers looking to take advantage of the federal government’s tax break need to get moving if they want to meet the deadline to get the credit. The tax credit, which offers up to $8,000 to buy a new home is only available on purchases that go under contract before May 1st. The federal tax… Continue reading Home Buyers Deadline Nears

Multiple Foreclosures Slam Home Market

By Mike Colpitts Multiple foreclosure properties mortgaged by investors contribute to more than a third of all homes being foreclosed, according to a new study conducted by Housing Predictor. The crisis is leading investors who once bought the property in hopes of turning a profit to increasingly call bankers to ask for mortgage modifications and… Continue reading Multiple Foreclosures Slam Home Market

Foreclosure Crisis Forecast Cut

By Kevin Chiu The foreclosure crisis has produced a ripple effect across the U.S. economy, triggering downward pressure on home prices and the national economy. But for the first time in its history, Housing Predictor is lowering its foreclosure forecast. As the first real estate research firm to forecast the crisis, indications are strong enough… Continue reading Foreclosure Crisis Forecast Cut

Short Sale Housing Plan in Jeopardy

A new program added to the arsenal of plans by the White House to help homeowners at risk of foreclosure may be in jeopardy even before it gets off the ground. The short sale plan, implemented this week lacks enforcement powers to require bankers to cooperate and sell homes at a loss. “There’s not enough… Continue reading Short Sale Housing Plan in Jeopardy

Freddie Mac and Fannie Mae to Eliminate Investors

By Kevin Chiu The real estate crash has sent the nation’s two troubled mortgage giants back into the home selling business. Freddie Mac and Fannie Mae will auction off hundreds of foreclosed homes to start with in a program designed to eliminate bargain hungry investors. The program is expected to expand to offer thousands of… Continue reading Freddie Mac and Fannie Mae to Eliminate Investors

Washington Woman Wins Ugly Contest

A small town Washington state woman has won the first prize in the ugliest room contest sponsored by a website that is putting a whole new face on ugly homes in America. They’re trying their hardest to find the ugliest rooms in the nation, and there doesn’t seem to be any shortage of contestants in… Continue reading Washington Woman Wins Ugly Contest

More than 4.5-Million Homes Refinanced

Home owners in jeopardy of losing their homes or who had mortgages that were unaffordable account for the highest number refinancing as more than 4.5-million mortgage holders carried out refinances over the last five months. The number marks the highest number of mortgage borrowers to get a new mortgage on their property since the foreclosure… Continue reading More than 4.5-Million Homes Refinanced

Mortgage Modifications Surge Higher

By Kevin Chiu Despite rising home foreclosures, mortgage modifications are increasing as a result of government efforts to aid the housing market as some banks demonstrate more willingness to work with mortgage borrowers, a Housing Predictor study has found. More than 2.4-million mortgage modifications have been extended to give homeowners a second chance of staying… Continue reading Mortgage Modifications Surge Higher