U.S. Housing Forecast Improves in 2011

Housing markets are forecast to experience sluggish home sales during the first half of 2011, followed by an improvement in sales during the spring time with better home values developing in many regions of the U.S., according to the new Housing Predictor national forecast for the year. Markets will show improvements from their downturn in… Continue reading U.S. Housing Forecast Improves in 2011

Home Purchases Rise, while Refinances Decline

Home purchase applications for new mortgages rose slightly, while refinancing shrank for the third straight week, indicating that after months of homeowners refinancing mortgages to lower less expensive loans the surge in refinances may finally be coming to an end, according to the Mortgage Bankers Association. Refinances slipped 6.4% for the week ending Oct. 29th… Continue reading Home Purchases Rise, while Refinances Decline

Banks Insult to Justice System

By Mike Colpitts Ohio’s hard talking attorney general says that banks and mortgage servicing companies simply choosing to re-file affidavits in order to straighten out their flawed paperwork on foreclosures is an “insult to the justice system.” “The big mortgage servicers and financial firms continue to demonstrate their belief that they do not need to… Continue reading Banks Insult to Justice System

Mortgage Company Wins Award Going Green

By Mike Colpitts As hundreds of banks and mortgage companies go out of business due to the troubled economy and rough mortgage lending market a Houston, Texas based mortgage company is winning awards, but not for doing a record volume of loans. The company won the Green Originator Award from Mortgage Technology magazine for its… Continue reading Mortgage Company Wins Award Going Green

Sunshine States Carry Foreclosure Slide

By Mike Colpitts Major sunshine state metropolitan areas accounted for the top 19 of 20 foreclosure rates in the U.S. during the third quarter of the year, according to the quarterly report compiled by RealtyTrac. California, Florida, Nevada and Arizona cities had the highest number of repossessed residential properties. Among all the metro areas tracked… Continue reading Sunshine States Carry Foreclosure Slide

Mortgage Applications Show Promise with Low Rates

Applications for new mortgages rose for the second consecutive week as applications for new home purchases and refinances moved higher on near record low rates, according to the Mortgage Bankers Association. Purchase applications grew by 3.9% for the week ending Oct. 22, while refinancing rose a more modest 3% over the previous week. The improvement… Continue reading Mortgage Applications Show Promise with Low Rates

Loan Modifications Top 3.7 Million Homes

By Kevin Chiu Mortgage servicers have modified nearly 3.7-million home mortgages since the housing crisis started in 2007, according to a private group of mortgage servicers, investors, mortgage insurers and non-profit counselors. The organization, Hope Now estimates the industry completed almost 150,000 permanent loan modifications during August, the last month for which figures are available.… Continue reading Loan Modifications Top 3.7 Million Homes

Home Auctions Boom despite Sales Moratorium

By Kevin Chiu In Las Vegas, gamblers are refraining from putting down payments on homes in neighborhoods to find some of the best real estate deals at auctions. In Los Angeles want-a-be homeowners are checking home listings online to check prices, and then turning out to bid on auctions in search of bargains. And in… Continue reading Home Auctions Boom despite Sales Moratorium