By Barbara Ann Jackson Opinion Understandably, it seems that defaulted property owners seek to ‘beat the system’ –a small amount of them do. Not even I am willing to assist in such a thing when those types contact me for help. People in my crowd are not seeking to get a free home, and they… Continue reading Reality Behind Foreclosures, Mortgage Lenders and Attorneys
Category: Housing Market
Many of 18.8 Million Vacant Homes May be Bulldozed
There were 18.8 million vacant U.S. homes at the end of the third quarter, according to the U.S. Census Bureau. But the only way to slash their ranks effectively may be to bulldoze millions of homes that make up blighted neighborhoods. Entire districts of homes, including more than 10,000 in one neighborhood in Detroit, Michigan… Continue reading Many of 18.8 Million Vacant Homes May be Bulldozed
Mortgage Rates Rise Slightly
Mortgage rates on a 30-year fixed rate loan rose slightly for the third week in a row, while rates on adjustable mortgages set new all-time lows, according to Freddie Mac. Rates on the most popular 30-year mortgage experienced a rise to 4.24% with an average of 0.8 points for the week, up from 4.23% a… Continue reading Mortgage Rates Rise Slightly
U.S. Housing Forecast Improves in 2011
Housing markets are forecast to experience sluggish home sales during the first half of 2011, followed by an improvement in sales during the spring time with better home values developing in many regions of the U.S., according to the new Housing Predictor national forecast for the year. Markets will show improvements from their downturn in… Continue reading U.S. Housing Forecast Improves in 2011
Home Purchases Rise, while Refinances Decline
Home purchase applications for new mortgages rose slightly, while refinancing shrank for the third straight week, indicating that after months of homeowners refinancing mortgages to lower less expensive loans the surge in refinances may finally be coming to an end, according to the Mortgage Bankers Association. Refinances slipped 6.4% for the week ending Oct. 29th… Continue reading Home Purchases Rise, while Refinances Decline
Banks Insult to Justice System
By Mike Colpitts Ohio’s hard talking attorney general says that banks and mortgage servicing companies simply choosing to re-file affidavits in order to straighten out their flawed paperwork on foreclosures is an “insult to the justice system.” “The big mortgage servicers and financial firms continue to demonstrate their belief that they do not need to… Continue reading Banks Insult to Justice System
Real Estate Market Will Recover
By Paul G. Lyons Real estate markets can be very slow to recover where there is a wait and see approach, limited financing availability and high unemployment. We experienced a market in the late 80’s through the mid 90s during the Savings & Loan Crisis that was very similar to what we are seeing today.… Continue reading Real Estate Market Will Recover
Mortgage Company Wins Award Going Green
By Mike Colpitts As hundreds of banks and mortgage companies go out of business due to the troubled economy and rough mortgage lending market a Houston, Texas based mortgage company is winning awards, but not for doing a record volume of loans. The company won the Green Originator Award from Mortgage Technology magazine for its… Continue reading Mortgage Company Wins Award Going Green
Mortgage Rates Climb Modestly
Mortgage rates rose modestly this week on a 30-year fixed rate loan to 4.23% from 4.21% last week, according to Freddie Mac. The average rate on a 15-year fixed rate loan also climbed by a similar margin. Rates had fallen to the lowest they had been since 1951 earlier this month. The average rate on… Continue reading Mortgage Rates Climb Modestly
Sunshine States Carry Foreclosure Slide
By Mike Colpitts Major sunshine state metropolitan areas accounted for the top 19 of 20 foreclosure rates in the U.S. during the third quarter of the year, according to the quarterly report compiled by RealtyTrac. California, Florida, Nevada and Arizona cities had the highest number of repossessed residential properties. Among all the metro areas tracked… Continue reading Sunshine States Carry Foreclosure Slide