Foreclosure Process Archive
RISMEDIA, August 25, 2010—If there’s one thing that time consistently does, it’s move forward. So, as this Great Recession continues to wear us down, it may be time to cast our eyes towards the horizon as well as take stock in what we’ve learned so far, three years into this latest economic slump.
Here are three lessons we have learned within the last three years, with a glimpse to what the future holds for the new real estate.
RISMEDIA, August 23, 2010—The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury has released the August edition of the Obama Administration’s Housing Scorecard (www.hud.gov/scorecard
), a comprehensive report on the nation’s housing market. In July, housing prices remained level after 30 straight months of decline, while some price predictions have improved. In addition, historic low interest rates continued to promote home affordability and refinancing options for the nation’s families. However, the market remains fragile with foreclosure starts showing a slight increase
RISMEDIA, August 20, 2010—(MCT)—Facing new penalties if they lowball estimates of upfront mortgage costs, lenders and brokers appear to be coming clean about how much borrowers will pay. As a result, the so-called good-faith estimates that mortgage providers must give to prospective customers show closing costs soaring 36 percent this year, interest-rate tracker Bankrate.com said in a report this week.
RISMEDIA, August 19, 2010—(MCT)—As director of the Joint Center for Housing Studies at Harvard, Nicolas Retsinas has had a front-row seat for the real estate market’s dramatic boom and bust. After 12 years at the center, Retsinas left the director’s job to teach housing finance at Harvard Business School. He spoke recently with New Jersey’s The Record about why buyers got mortgages they couldn’t afford, and why real estate matters so much.
RISMEDIA, August 19, 2010—(MCT)—Millions of homeowners are trapped in a bizarre real estate limbo, living in houses but no longer paying for them, waiting and wondering if someone will help them — or throw them out.
RISMEDIA, August 19, 2010—RealEstate Business Intelligence (RBI), an MRIS company, just released its July 2010 statistics that shows stabilization in the Mid-Atlantic real estate market over the past three months. Data from the report suggests that the gradual
RISMEDIA, August 19, 2010—(MCT)—After her husband lost his tech job in 2008, Lisa Eidner of Mahwah, N.J., asked the family's mortgage servicer to lower their monthly payments. The company agreed to a temporary cut, but sent the family on a frustrating,
RISMEDIA, August, 18, 2010—(MCT)—With sweeping financial reform legislation enacted, the White House and Congress now must focus on fixing the mess created by the failed housing finance giants Fannie Mae and Freddie Mac. It's a complex challenge with high stakes for taxpayers and the struggling real estate market.
RISMEDIA, August 18, 2010—Realogy Corporation, a global provider of real estate and relocation services, announced that its chief executive officer Richard A. Smith traveled to Washington, D.C., today to participate in the Conference on the Future of Housing Finance.
RISMEDIA, August 18, 2010—NAMB applauded the Federal Reserve Board yesterday (FRB) for issuing its final rule changing the way loan originators may receive compensation, as a benefit to consumers, by preventing unfair, abusive, or deceptive lending practices.
RISMEDIA, August 17, 2010—Real estate professionals nationwide are calling 2010 “the year of the short sale,” where homeowners who owe more on their properties than what they are worth sell at deeply discounted prices—with the blessing of their lender.
Here is how to go about successfully buying a short sale:
RISMEDIA, August 17, 2010—More than three years into the housing crisis that helped trigger a worldwide recession, the torrid pace of home foreclosures continues to tear at the core of the American dream.
RISMEDIA, August 16, 2010—As the housing market continues its sluggish recovery, brokers should still focus on the basics of recruiting and retaining—but also must take back training and be prepared to work within the distressed property market if they want to succeed in the next three to five years. That was the message delivered to brokers by Dave Liniger, RE/MAX International’s Chairman and Co-Founder, at this year’s annual RE/MAX Broker Owner Conference.
RISMEDIA, August 16, 2010—The number of price-reduced homes on the market increased 5.3% in July 2010 as compared to June, according to a monthly review of MLS-listed properties within 26 of the country's largest housing markets conducted by the national
RISMEDIA, August 13, 2010—The Obama Administration recently announced additional support to help homeowners struggling with unemployment through two targeted foreclosure-prevention programs.