Refinances Drop as Mortgage Rates Rise

Refinances took a sharp drop demonstrating that most of those homeowners who wanted to refinance their mortgages have already done so or are unable to because their homes are too much upside down, according to a new survey from the Mortgage Bankers Association. The refinance index dropped 21.6% during Thanksgiving Day week on an adjusted… Continue reading Refinances Drop as Mortgage Rates Rise

Hard Money Financing Booms as Investors Sue

By Kevin Chiu As a federal judge starts a trial over allegations that New York firms defrauded hard money loan investors of millions of dollars in assets, other hard money lenders are achieving record profits. San Diego, California based Source Capital Funding, Inc. announced it finished closing 42 loans in October and funded nearly $9-million… Continue reading Hard Money Financing Booms as Investors Sue

Foreclosure Victim Turns Consumer Advocate

By Mike Colpitts Overcome by banking fraud and lies by bank and mortgage company employees, Michael Bang became a specialist on foreclosures before authoring a book on how to overcome the fraud of bankers and strategically walk away from a mortgage. As millions of American homeowners face the nightmare of foreclosure and tough economic times… Continue reading Foreclosure Victim Turns Consumer Advocate

Home Buyers Avoid Foreclosure Properties

By Mike Colpitts A large number of home buyers are refusing to even look at considering distressed properties for sale, according to a monthly survey of real estate market conditions by Campbell Mortgage Finance as prices on foreclosures that are selling continue to fall. Four major national lenders have frozen foreclosure sales as a result… Continue reading Home Buyers Avoid Foreclosure Properties

$4 Million Tech Mansions Drive Comeback

By Kevin Chiu The vacation home market, still tumbling in a downturn in most of the U.S. is making an isolated comeback in Lake Tahoe, especially in the $4-million plus high-end range, where the titans of high-tech land are driving the mini-boom. As the disparity between haves and have-nots grows across America, gated real estate… Continue reading $4 Million Tech Mansions Drive Comeback

A Daring New Year in Housing Prices

By Kevin Chiu Home inventories rising in most markets, mortgage rates moving higher and markets pulling out of their downturns only to return to negative territory. Some are. Some aren’t. Those are just a few of the factors impacting real estate markets as we move into the New Year affecting whether housing prices go up… Continue reading A Daring New Year in Housing Prices

Home Purchases Rise as Mortgage Rates Jump

By Mike Colpitts Mortgage applications to buy a home shot up more than 14% for the latest week reported by the Mortgage Bankers Association, indicating a major jump in home buying activity driven by near record low mortgage rates that are moving higher. Mortgage rates have slowly moved upward since hitting a record low of… Continue reading Home Purchases Rise as Mortgage Rates Jump

Shadow Inventory Slashed to 2.1 Million Homes

An estimated 2.1-million distressed homes make up the shadow inventory, representing a huge decline of properties that make up the inventory of homes that have not yet been formally foreclosed and listed for sale, according to Core Logic, a real estate research firm. The inventory makes up part of the more than 18-million vacant homes… Continue reading Shadow Inventory Slashed to 2.1 Million Homes