Foreclosure Process Archive
RISMEDIA, October 22, 2010—Trulia.com, a top site for home buyers, sellers and renters, announced that price reductions for home listings currently on the market in the U.S. have increased for the fourth consecutive month to an all-time high of 27% and account for a total reduction of more than $30.7 billion nationwide. A deeper look into the data shows a continual and dramatic price reduction increase in many cities that began in June 2010.
RISMEDIA, October 20, 2010—The summer season of home buying was a difficult one because many buyers purchased earlier in the spring in an attempt to qualify for the government’s tax credit. Now the market is still attempting to return to traditional seasonal trends. A monthly survey
RISMEDIA, October 19, 2010—The National Association of Realtors (NAR) strongly supports the proposed guidance from the Federal Housing Finance Agency to prevent government-sponsored enterprises Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks from investing
RISMEDIA, October 18, 2010—In today’s dicey lending environment, many a would-be home buyer often falls into one of two camps: uninformed or running scared. Unfortunately, tightening lending standards and a pervasive unease about the overall economy have combined to keep many potential buyers on the sidelines of homeownership. In many cases, however, proper guidance on the available loan products could have shown them that not only is a home purchase achievable, but affordable as well.
RISMEDIA, October 18, 2010—The Consumers Union and the Consumer Federation of America—two of the most recognized and influential consumer protection organizations in the nation—joined the Coalition to Stop Wall Street Home Resale Fees. Adding their voices to the diverse coalition of groups opposed to predatory private transfer fees is a major milestone in the growing momentum to stop these fees.
RISMEDIA, October 15, 2010—(MCT)—In a new foreclosure crisis that has gone national, attorneys general in all 50 states plus the District of Columbia have launched a sweeping probe of the country's lenders, even as new figures showed banks repossessed a record number of homes
RISMEDIA, October 14, 2010—RealtyTrac, a leading online marketplace for foreclosure properties, released its U.S. Foreclosure Market Report for the third quarter of 2010, which shows that foreclosure filings—default notices, scheduled auctions and bank repossessions—were reported on
RISMEDIA, October 14, 2010—Thousands of first-time and move-up buyers who hoped to make a foreclosed property their new home now face uncertainty, anxiety and possibly remorse as they worry that closing on their desired property could be in jeopardy. For many, the dream of homeownership could turn into agony if their home purchase is indefinitely delayed by a moratorium on foreclosures declared by some banks, the National Association of Realtors said. The moratoriums are needed, banks say, to review all of the foreclosures in their portfolios to make sure they're in compliance with the law and that titles are clear.
RISMEDIA, October 13, 2010—The Consumers Union and the Consumer Federation of America—two of the most recognized and influential consumer protection organizations in the nation—joined the Coalition to Stop Wall Street Home Resale Fees. Adding their voices to the diverse coalition of groups opposed to predatory private transfer fees is a major milestone in the growing momentum to stop these fees.
RISMEDIA, October 12, 2010—Housing continues to be a much maligned part of the U.S. economy, with most discussions about how to stem the challenge being thoughtful but without substance. That is why I am pleased to see Congressman Gary Miller (R:CA) taking a substantive step
RISMEDIA, October 11, 2010—Got an accountability problem at your organization? There are two main ways to tackle it. First, you need to forestall excuse-generating problems upfront by creating conditions that make it more likely people will follow through. Second, you need to help
RISMEDIA, October 8, 2010—Mortgage rates fell to record lows again this week, with the average conforming 30-year fixed mortgage rate now 4.45 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.32 discount and
RISMEDIA, October 7, 2010—This year’s NAR Realtors® Conference & Expo, “NARdiGras 2010,” is expected to draw about 20,000 Realtors® and guests, NAR reports. Realtors will be joined by industry experts, lawmakers, federal agency officials and other guests for a program that
RISMEDIA, October 6, 2010—Sunnyvale, Calif.-based MLSListings, Inc. is one of the first multiple listing service (MLS) organizations in the country to make Realtors® Property Resource™ (RPR) available exclusively for its members, the organization has announced. RPR provides
RISMEDIA, October 5, 2010—The Pending Home Sales Index, a forward-looking indicator, rose 4.3% to 82.3 based on contracts signed in August 2010 from a downwardly revised 78.9 in July, but is 20.1% below August 2009 when it was 103.0. The data reflects contracts and not