By Mike Colpitts Responding to outcries over Wall Street and its actions with troubled Fannie Mae and Freddie Mac, new proposed federal regulations prohibit the two government-backed lenders from purchasing mortgages of private-label securities in the future, including commercial mortgage-backed securities, a major cause of the financial crisis. The regulations, proposed by the Federal Housing… Continue reading Major Changes Ordered at Freddie Mac and Fannie Mae
Category: News
Investing in Rental Housing
By Lois A. Vitt, Ph.D. Reasons for investing in rental housing include opportunities to make a profit, tax advantages to write-off mortgages and income from rents. So why not make the decision to buy more than one home—perhaps two, three, or even more? If you have what it takes to invest in and manage rental… Continue reading Investing in Rental Housing
Pending Home Sales Rise as Mortgage Rates Fall
Demonstrating that markets make erratic movements even in the midst of a decline, pending home sales rose slightly in July over June, according to the National Association of Realtors, while mortgage rates continued their downward slide. A 30-year fixed rate mortgage declined to 4.32% down .04% from a week ago, according to Freddie Mac. Pending… Continue reading Pending Home Sales Rise as Mortgage Rates Fall
Vice President Joe Biden Laughing Stock
Vice presidents have historically played the fool to U.S. presidents, and Vice President Joe Biden is quietly proving to be cast better than most Hollywood producers could dream. In limited media coverage, the vice president announced a milestone of 200,000 homes being weatherized with Troubled Asset and Relief Program funds on a trip to Manchester,… Continue reading Vice President Joe Biden Laughing Stock
Investment Fund Launches $100 Million Effort
By Mike Colpitts An Atlanta based firm has formed a real estate investment fund with an ambitious goal of raising $100-million to invest in troubled homes and apartments in an effort to produce high net profits for investors. The new company is jointly owned by principals of an investment firm, Avalon Investment and Securities Group,… Continue reading Investment Fund Launches $100 Million Effort
Poll Shows Hardly Anyone Trusts Bankers
At a time when Congress has the lowest approval record in history, bankers receive even lower marks for being trusted by the public at large, according to a new Housing Predictor survey. The latest opinion poll found that only 3% of all those surveyed trust bankers to have consumers best interests in mind. An over-whelming… Continue reading Poll Shows Hardly Anyone Trusts Bankers
Fresh Evidence Rescue Program Stalls
There are no gifts in this housing recovery. Homeowners received the lowest number of permanent modifications since Christmas this last month through the Obama administration’s Making Home Affordable program, and the number of homeowners dropping out of the rescue program is rising. Nearly half of the number of people entering the program has dropped out… Continue reading Fresh Evidence Rescue Program Stalls
Home Market Recovery in 7 States
It may seem like it’s been a gruelingly long time, but housing markets are recovering from their crash in seven states, adding another two states to the list in recovery. Nebraska and Pennsylvania join the line-up leading the U.S. out of the downturn. Despite a national slow down in home sales since the tax credit… Continue reading Home Market Recovery in 7 States
Green Energy Housing Renovations Receive $250 Million
By Kevin Chiu A green energy program for single family housing has been supplemented with a program for apartments, providing $250 million to reduce energy costs nationally. The government program provides up to 30% tax credits for homeowners to take advantage of the American Recovery and Reinvestment Act. The funding is part of the Housing… Continue reading Green Energy Housing Renovations Receive $250 Million
Hard Money Lending to Hit $2-Trillion
By Kevin Chiu Homeowners and business owners alike are borrowing money to keep their homes and commercial properties at high interest rates by the droves, sending hard money lenders busily searching for more cash to loan. The business of hard money lending is projected to hit a record $2-trillion in the U.S. within a year.… Continue reading Hard Money Lending to Hit $2-Trillion