Category: News

Home Sales Higher On Tax Credit Incentive

By Cheryl Reams Home buyers motivated by expiring federal tax credits drove existing home sales 7.6% higher in April to a seasonally adjusted rate of 5.77 million units, topping analysts’ projections, according to the National Association of Realtors. The increase in sales of single family homes, condos and townhouses pushed the associations heavily watched annual… Continue reading Home Sales Higher On Tax Credit Incentive

New Fannie Mae and Freddie Mac Mortgage Reforms

By Mike Colpitts Reacting to public outcries over the foreclosure crisis, the Federal Housing Finance Agency has released a sweeping new series of major mortgage reforms to improve the quality of home financing for the nation’s two mortgage giants, Fannie Mae and Freddie Mac. FHFA regulates Fannie Mae, Freddie Mac and the twelve federal home… Continue reading New Fannie Mae and Freddie Mac Mortgage Reforms

Title Insurance Policies Show Housing Market Improving

The cost of insuring the title to real estate is declining as a result of falling home prices, according to the largest trade organization of title officers. But the American Land Title Association says a rise in title insurance policies show housing markets are improving. The industry trade group reported a 4.5% decrease in the… Continue reading Title Insurance Policies Show Housing Market Improving

New FHA Guidelines Eliminate Possibility of Success

By Gary A. Poliakoff, Ryan Poliakoff and Kevin Chiu Plagued by the real estate crisis that is likely to top that of the Great Depression, the Federal Housing Administration (FHA) has implemented a new set of lending standards in efforts to clear the glut of millions of vacant and unsold condominiums across the country. However,… Continue reading New FHA Guidelines Eliminate Possibility of Success

Obama Moving Closer to Force Banks to Modify Mortgages

By Kevin Chiu U.S. Treasury Secretary Tim Geithner is frustrated with bankers and mortgage servicing companies, and he might even be bordering on being angry with his former colleagues in the banking industry. Geithner’s clear stated frustrations are leading to growing speculation in Washington, D.C. that the Obama administration may be moving closer to forcing… Continue reading Obama Moving Closer to Force Banks to Modify Mortgages

Majority Intend to Buy Real Estate Soon

Almost 2 out of 3 respondents to the latest Housing Predictor opinion poll say they plan on buying a home or other real estate in the next two years, apparently feeling that the bottom of the housing market is falling into place. The large majority of respondents feel more confident about real estate values rising… Continue reading Majority Intend to Buy Real Estate Soon

Under Water Mortgage Borrowers Rescue on the Way

By Mike Colpitts In a new effort by the Obama administration millions of under-water home mortgage borrowers may be helped. The FHA program will provide refinancing on homes at least 10% under their worth, and could establish a new cornerstone in White House efforts to stem the growing foreclosure epidemic. The program demonstrates a major… Continue reading Under Water Mortgage Borrowers Rescue on the Way

White House Moves Against Bankers

In the first indication that growing public complaints are affecting White House policy in relationship to its housing rescue plan, the Obama administration is moving against bankers. The Treasury Department’s TARP chief Herb Allison announced new protections for homeowners who are in the mortgage modification process. The Troubled Assets and Relief Program chief made the… Continue reading White House Moves Against Bankers

Home Sales Decline Slightly

Sales of existing homes fell slightly in February for the third month in a row, according to the National Association of Realtors. The drop was only 0.6 percent nationally to a seasonally adjusted rate of 5.02-million units. The decline in home sales demonstrates the slowdown in the housing market persists, despite government programs to re-ignite… Continue reading Home Sales Decline Slightly