Category: Pennsylvania

pennsylvania housing market

Three Mortgage Officers Sentenced to Federal Prison

By Mike Colpitts Three mortgage officers and a title agent have been sentenced to federal prison for their parts in a nationwide reverse mortgage fraud scheme that lasted nearly a year, and took advantage of dozens of senior citizens, taking in more than $2.5-million. Louis Gendason, 42, was sentenced to 70 months in federal prison… Continue reading Three Mortgage Officers Sentenced to Federal Prison

Foreclosures Rise in October, But Nevada’s Chill

By Mike Colpitts Foreclosure auctions, the final step in the formal bank repossession process increased in October, rising 8% from the prior month as foreclosures in states that require courts to formally approve foreclosures moved higher recovering from bank moratoriums. But Nevada saw a major drop in foreclosures as a result of a new law… Continue reading Foreclosures Rise in October, But Nevada’s Chill

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

Taylor Swift Sells Music City Home

One-time teenage music sensation singer Taylor Swift has listed her Nashville home for sale just a year after buying the place. It seems that the 21-year-old country singing star, who has attracted the attention of just about every teenager in the U.S. is tiring from her new digs already. The Country music sensation purchased the… Continue reading Taylor Swift Sells Music City Home

Space Shuttle End May Kill Town

By Mike Colpitts Nervousness and uncertainty send jitters through the community of Titusville, the Florida home to the U.S. Space Shuttle program for more than 30 years. Ronald Reagan was president of the United States when this community led the venture into outer space. But the hub for space science exploration is ending its presence… Continue reading Space Shuttle End May Kill Town

Justice Department Sues Largest U.S. Mortgage Insurer

By Mike Colpitts The largest U.S. mortgage guarantee company, Mortgage Guaranty Insurance Corporation (MGIC) is being sued by the Justice Department for violating the Fair Housing Act for allegedly discriminating against women on paid maternity leave. The suit was filed in U.S. District Court in the Western District of Pennsylvania against the mortgage insurer and… Continue reading Justice Department Sues Largest U.S. Mortgage Insurer

HUD Launches Emergency Home Loans

By Mike Colpitts In a move that has been awaited more than a year, the Housing and Urban Development Department launched the Emergency Homeowners Loan Program to help unemployed homeowners at risk of foreclosure in 27 states. The program is slated to help only a small number of troubled homeowners during its life-span. The White… Continue reading HUD Launches Emergency Home Loans

2011 Pennsylvania Housing Market

Demand for homes that are affordably priced is pushing Pennsylvania’s housing market towards stabilizing ahead of most of the U.S. However, home sales drifted southward after the federal home buyer tax credit expired putting a crimp on the state’s markets that will have to be worked through with the financial crisis before things fully recover.… Continue reading 2011 Pennsylvania Housing Market

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