Category: Housing Market

2012 Mississippi Housing Market

Mississippi has experienced its challenges over the years, especially when it comes to the economy and Mother Nature. But the Mississippi real estate market is showing improving signs of recovery, despite tough economic realities. Homes in South Mississippi along the Gulf Coast, which was all but destroyed by Hurricane Katrina are selling at a faster… Continue reading 2012 Mississippi Housing Market

States Mortgage Settlement to Aid Wrongly Foreclosed

By Mike Colpitts The mortgage settlement reached by 49 state attorneys general and the U.S. government requires banks and mortgage servicers to implement changes servicing mortgages, handling foreclosures and attempts to insure the accuracy of information provided to federal bankruptcy courts in an unprecedented manner. The $25-billion agreement requires new bank servicing standards in an… Continue reading States Mortgage Settlement to Aid Wrongly Foreclosed

Mortgage Modifications Slip, but Outpace Foreclosures

By Mike Colpitts More than 1-million U.S. home mortgages underwent permanent modifications in 2011, according to the independent alliance of mortgage servicers Hope Now. The figure represents a steep decline of 40% from a year ago, but outpaces the number of foreclosures sold during the year. In December affiliates of the organization completed 80,000 loan… Continue reading Mortgage Modifications Slip, but Outpace Foreclosures

Refinancing Picks Up Speed on Lower Rates

By Mike Colpitts Refinancing picked-up speed as homeowners applied for lower mortgage rates in greater numbers to obtain lower mortgage payments even as home purchase financing slowed, according to the Mortgage Bankers Association. Almost half or 43% of those refinancing home mortgages chose shorter 15 or 20 year loans during the fourth quarter of 2011,… Continue reading Refinancing Picks Up Speed on Lower Rates

Bank of America Settles Largest Mortgage False Claims Case

By Kevin Chiu The nation’s largest bank has settled the biggest mortgage false claims case with the U.S. government in history. Bank of America will pay $1-billion to resolve wrongdoing uncovered by the U.S. Justice Department in mortgage lending by loan officers operating for Countrywide Mortgage, which BofA acquired at the height of the financial… Continue reading Bank of America Settles Largest Mortgage False Claims Case

Record Low Mortgage Rates Hold Steady

By Mike Colpitts Record low mortgage rates remained at their all-time record low this week as a troubled world economy jittered financial markets, according to Freddie Mac. The benchmark 30-year fixed rate loan held steady at its lowest level in U.S. history for the second week in a row. The heavily watched 30-year mortgage averaged… Continue reading Record Low Mortgage Rates Hold Steady

2012 New Mexico Housing Market

A more diversified economy has helped New Mexico through the U.S. financial crisis, but it hasn’t been able to fully protect it from the economic hardship associated with its fallout. Better employment levels than most other areas of the country translate into a stronger local economy. Industries that have suffered, however, including some of the… Continue reading 2012 New Mexico Housing Market