By Kevin Chiu The bulk sale of foreclosed Fannie Mae homes to private equity firms will place foreclosures right back into the very hands of some of the banks and investors which triggered the foreclosure crisis by manipulating financial markets. Fannie Mae is inviting investors to become joint venture partners in the biggest bulk sale… Continue reading Private Equity Firms Purchase Fannie Mae Foreclosures
Category: New York
New York housing market
Feds Launch Mortgage Task Force Investigation
By Mike Colpitts More than three years after announcing he would launch a federal task force to investigate the mortgage crisis, President Barack Obama has finally launched a federal probe into the U.S. largest financial institutions. New York Attorney General Eric Schneiderman, who pulled his state out of the 50 state robo-signing investigation, sent subpoenas… Continue reading Feds Launch Mortgage Task Force Investigation
Home Prices Tumbled Less in 2011
By Mike Colpitts Home prices tumbled an average of 4.3% on a year-over-year basis through last November, according to real estate analytics firm CoreLogic. The company’s Home Price Index, released Monday, confirmed what other real estate research companies reported – that home prices fell less in 2011 than 2010. The Santa Ana, California based firm… Continue reading Home Prices Tumbled Less in 2011
Shadow Inventory Slides to 2009 Levels
By Mike Colpitts The inventory of homes not yet foreclosed but regarded as unsellable as they are held back from the market known as the shadow inventory has dropped to January 2009 levels, according to real estate data firm CoreLogic. California, Florida and Illinois, where foreclosures are at some of the highest levels in the… Continue reading Shadow Inventory Slides to 2009 Levels
Homeowner Insurance Guide
By Erika Stewart Home insurance is important to insure that property is protected in the event of emergencies like natural disasters, fires, and even over liability issues like a friend or visitor falling and hurting themselves. Having homeowner insurance protects not only the home but its occupants and their possessions. However, not all home insurance… Continue reading Homeowner Insurance Guide
Foreclosures Show Positive Fall
By Kevin Chiu Foreclosure filings dropped 14% in November experiencing a positive fall as default notices, scheduled bank auctions and bank repossessions hit their lowest level in a year, according to RealtyTrac. However, some of the hardest hit states, including California, Arizona and Massachusetts posted year-over-year increases in November. Foreclosure auctions, the final step in… Continue reading Foreclosures Show Positive Fall
Foreclosures Fall 12 Straight Months
By Kevin Chiu Foreclosures fell for 12 straight months in September marking possibly the end of the robo-signing slowdown, according to RealtyTrac. Filings were down 6% from August and 38% from a year ago, which may signal a speed-up in the formal repossession process affecting millions of homeowners at risk of losing their homes to… Continue reading Foreclosures Fall 12 Straight Months
Home Prices Decline Year Over Year
By Kevin Chiu Home prices declined an average of 4.4% on a year-over-year basis in the U.S. through August, despite a slight increase in home values over summer months as a result of higher home sales, and record low mortgage rates, according to real estate research firm CoreLogic. The decline in home values echoes Housing… Continue reading Home Prices Decline Year Over Year
Thousands Protest Against Bank of America
By Kevin Chiu Protestors staged a massive demonstration and sit-in at Bank of America’s Boston headquarters Friday evening to protest the unfair lending practices the nation’s largest bank has used against homeowners. Dozens of families facing foreclosure were among the estimated 3,000 people carrying banners, banging drums and confronting the lender for its role in… Continue reading Thousands Protest Against Bank of America
U.S. Expects Riots to Develop From Economic Downturn
A large majority of those surveyed expect the economic downturn to result in riots in the U.S. as factions so desperate for better times vent their anger in violence, according to a Housing Predictor poll that was just completed. High unemployment has sent an estimated 45-million Americans to the job line, and millions of others… Continue reading U.S. Expects Riots to Develop From Economic Downturn