By Mike Colpitts In government efforts to make it look like it’s taking a more active roll in the housing crisis, HUD has announced a major national advertising campaign to urge homeowners at risk of foreclosure to learn more about the White House’s Making Home Affordable program. More than 1.5-million homeowners have received assistance through… Continue reading Government Launches Ad Campaign on Home Rescue
Category: News
Fannie Mae and Freddie Mac Reform Conference Set
By Kevin Chiu In a major effort to heal its tarnished reputation in relationship to the real estate crash, the White House will stage a conference on the future of housing finance in the U.S. as it tries to repair troubled Fannie Mae and Freddie Mac, the nation’s giant mortgage lenders. The White House conference… Continue reading Fannie Mae and Freddie Mac Reform Conference Set
New Urbanism Living on the Rise
New Urbanism, the revitalization of existing downtowns offering a variety of conveniences and amenities is on the rise. New lifestyle communities provide comfort, luxury, and safety for residents combined with the convenience of nearby shopping, dining and entertainment. Benefits of New Urbanism include leaving a smaller carbon footprint on the environment. People that live downturn… Continue reading New Urbanism Living on the Rise
Mortgage Rates Stay Unchanged
By Mike Colpitts Fixed rate mortgage interest rates remained unchanged for the first time in months this week at record low levels with a conventional 30-year mortgage at 4.57% on average, according to Fannie Mae. Mortgage rates are at the lowest level they have been at in 50 years, supporting mortgage affordability for home buyers… Continue reading Mortgage Rates Stay Unchanged
Growing Unemployment Drives Foreclosures Higher
Troubled by growing unemployment and decaying consumer confidence, foreclosures were higher in the first half of the year over 2009, despite a decline in filings over the last six months, according to the Realty Trac mid-year report. Some 1,654,634 residential properties were filed against during the first half of the year. However, foreclosure notices, including… Continue reading Growing Unemployment Drives Foreclosures Higher
Housing Market in Free-Fall
By Mike Colpitts Growing consumer unrest over the economy, real unemployment reaching levels that have not been seen since the Great Depression and falling home sales has triggered a housing market in the majority of the U.S. that is in a free-fall. Purchase applications for home mortgages fell to the lowest level since 1996, and… Continue reading Housing Market in Free-Fall
Housing Double Dip Confirmed
By Mike Colpitts It’s not like a nice cold double dip ice cream cone on a hot summer day, but it does give many homeowners a chill. The so-called double dip in housing activity is confirmed as markets stall across the nation on fears of growing economic anxiety. The surge in home sales produced by… Continue reading Housing Double Dip Confirmed
Feds Move to Recoup Losses in Mortgage Fraud
By Kevin Chiu In an effort to recover some of the billions of dollars in mortgage losses Fannie Mae and Freddie Mac have sustained, the Federal Housing Finance Agency (FHFA) has opened an inquiry into mortgage fraud in the real estate crash. The inquiry was announced almost two full years after the agency was established.… Continue reading Feds Move to Recoup Losses in Mortgage Fraud
Money Factor in Housing Decisions
By Lois A. Vitt, Ph.D. Buying a new home, remodeling, or investing in a second home is all about cost and affordability, right? Absolutely yes and no! But aren’t “price,” “monthly carry,” and “tax consequences” the key deciding factors in any housing transactions? Of course they are, and no, not as often as you may… Continue reading Money Factor in Housing Decisions
Wells Fargo Exits Subprime Business
In a move hailed as a last gasp for the subprime mortgage business, Wells Fargo Bank has announced it is leaving the subprime business. The decision made Wells the last big conventional bank to exit subprime following the demise of Countrywide and Washington Mutual in the lending industry. The two former mortgage titans were acquired… Continue reading Wells Fargo Exits Subprime Business