Americans are divided on whether the U.S. government should step into help those homeowners who are suffering through foreclosure at no fault of their own, according to a new Predictor poll. The bail-outs of bankers seem to have little impact on the way people feel about homeowners caught in the trap of the financial crisis.… Continue reading Poll Shows Americans Divided
Category: News
Fourth Lender Halts Foreclosures in Robo Signing Storm
The brewing storm over the robo signing of foreclosure documents and the resulting halt of foreclosures by four big mortgage lenders could spell another disaster for the housing market. America lured people to a gold rush in properties at the height of its real estate boom and then the banks sold-off mortgages. Now hundreds of… Continue reading Fourth Lender Halts Foreclosures in Robo Signing Storm
Mortgage Rates Hit New Low Record
By Kevin Chiu Mortgage rates hit a new record low averaging just 4.27% on a 30-year fixed rate loan, according to Freddie Mac. The rate dropped .05 from last week to reach the new mark with an average 0.8 point. The 15-year fixed rate also averaged a new record low at 3.72%, down .03 from… Continue reading Mortgage Rates Hit New Low Record
Foreigners Buying Up US Property
By Mike Colpitts Home and condo prices have gotten so low in many areas of the country that foreign nationals are buying up property like it’s an old Blue Light sale at K-Mart. American real estate seems like its on sale at bargain basement prices. But whether the spike in foreigners buying property materializes into… Continue reading Foreigners Buying Up US Property
Partnership May be Mortgage Market Solution
By Diana Swan Former Treasury Secretary Paul Volcker, now a special adviser to President Barrack Obama, says the mortgage industry is dysfunctional and is “a creature of the government” and “that it is the biggest single element missing from financial regulatory reform.” A partnership between mortgage lenders and homeowners at risk of foreclosure could hold… Continue reading Partnership May be Mortgage Market Solution
Bill Proposed to Outlaw Real Estate Transfer Fees
A bill that would halt the controversial collection of private real estate transfer fees in all 50 states has been proposed to outlaw the action. Maxine Waters (D-CA) offered the legislation in Congress as part of an amendment to revise a law approved nearly four decades ago. The bill was proposed after a coalition of… Continue reading Bill Proposed to Outlaw Real Estate Transfer Fees
Rentals Winning Out
In the face of the financial crisis, attitudes over renting versus buying a home are changing, according to numerous public opinion polls, including a survey of more than 2,700 website visitors by Apartments.com. “We are seeing vacancy rates drop, which means the rental market is improving,” said Chris Brown, Apartments.com vice president of product management.… Continue reading Rentals Winning Out
Initiative Would Keep Real Estate Tax Free
Only 13 states are without a tax on real estate sales and transfers. In these troubled economic times two of the remaining states have consumer driven campaigns to keep it that way, Missouri and Montana. An initiative outlawing such fees will appear on ballots in both states later this year. Consumers usually vote against tax… Continue reading Initiative Would Keep Real Estate Tax Free
Refinances and New Home Mortgages Stall
By Mike Colpitts Demonstrating there is a tipping point for home sales to decline, applications for refinancing and home mortgages declined for the third straight week, according to the Mortgage Bankers Association. The four week moving average also showed a decline, indicating that home sales are stalling further after the expiration of the federal buyer… Continue reading Refinances and New Home Mortgages Stall
Fewer Think Housing is Safe Investment
More Americans think it’s a better idea to put money into a savings or money market account than to buy a home, according to a government backed opinion poll. The finding was determined as part of Fannie Mae’s latest national housing survey, which also found the exact opposite of what a Housing Predictor poll recently… Continue reading Fewer Think Housing is Safe Investment