By Ryan Jackson When the housing market collapsed hundreds of thousands of mortgage and real estate agents who made their livings in real estate suffered, losing incomes, and many have been foreclosed as a result of the collapse. But one Florida mortgage banker admits to leading a criminal conspiracy to defraud HUD out of more… Continue reading Mortgage Banker Pleads Guilty in $6.5 Million Scheme
Category: Housing Market
FDIC Puts Real Estate Up for Auction
By Ryan Jackson Flooded with an inventory of foreclosures, the government’s Federal Deposit Insurance Corporation (FDIC), which has taken over hundreds of failed banks since the collapse of the U.S. real estate market, is holding an online auction to sell off some of its properties. The FDIC is auctioning-off 50 Midwest homes and commercial properties… Continue reading FDIC Puts Real Estate Up for Auction
Florida Capital Named Baby Boomers Favorite
The capital of Florida has been named the favorite U.S. city for baby boomers to retire by a Washington based economics research group. Tallahassee, Florida won out over 20 other cities considered for the prestigious award as the ideal place to retire. The southern city was selected after researchers considered a combination of factors, including… Continue reading Florida Capital Named Baby Boomers Favorite
Freddie Mac Fails at Mortgage Modifications
By Mike Colpitts One of the nation’s giant mortgage lenders, Freddie Mac provided only 4,308 mortgage modifications during the month of March in the U.S., and 13,677 for the first three months of the year, according to public figures provided by the lender. The weak volume of mortgage modifications would get the government backed lender… Continue reading Freddie Mac Fails at Mortgage Modifications
$25 Billion Bank Monitor Hires Accountants
By Ryan Jackson The monitor appointed to oversee the banks $25 billion settlement with 49 state attorney generals in the robo-signing scandal has hired six accounting firms to help monitor the agreement. Forty-nine states reached an agreement with the nation’s five largest banks in February over the forged signings of millions of foreclosure documents involved… Continue reading $25 Billion Bank Monitor Hires Accountants
Short Sales Finally Speed Up
By Mike Colpitts The nation’s giant mortgage lenders will force banks and mortgage servicers to enforce new guidelines to speed up short sales. Freddie Mac and Fannie Mae will require lenders to respond to requests for short sales from mortgage borrowers within 60 days under a new mandate ordered by the Federal Housing Finance Agency.… Continue reading Short Sales Finally Speed Up
Kiddie Home Purchases Jump
By Mike Colpitts A tight mortgage market has triggered a jump in parents, grandparents and other relatives helping younger home buyers qualify for a home loan. Baby boomer parents have helped a son or daughter to purchase a home by co-signing for a mortgage, supplying down payments or purchasing a home outright in 20% of… Continue reading Kiddie Home Purchases Jump
Refinances Lead Mortgage Rebound
By Ryan Jackson Refinancing led a rebound in mortgage financing last week as homeowners applied for mortgages at the highest rate in at least two months, according to the Mortgage Bankers Association. Refinances jumped 13.5% from the previous week. Near record low mortgage rates got homeowners seeking refinances off the sidelines to take advantage of… Continue reading Refinances Lead Mortgage Rebound
Home Prices Forecast Higher
By Mike Colpitts Home prices in a larger number of cities are forecast to inflate in value in 2012 as many U.S. cities make inroads towards a housing recovery. Signs of progress are developing in a growing number of U.S. states, including hard hit Florida, Michigan and Mississippi. Improving conditions in many cities are attributed… Continue reading Home Prices Forecast Higher
Appreciation Forecast Tops 100+ U.S. Cities
For the first time in six years, more than 100 U.S. cities are forecast to experience housing appreciation by the end of the year. After strong evidence of growing economic recovery developed in North Carolina and Utah housing markets, the number of U.S. cities projected to inflate in home values hit 105. Driven by near… Continue reading Appreciation Forecast Tops 100+ U.S. Cities