REO Properties Archive
RISMEDIA, January 11, 2011—The federal tax credit extension, coupled with an uptick in seasonal buying, helped keep the real estate market on its tracks in the first two quarters of 2010, according to RE/MAX of New England. Single-family home sales across New England showed the
RISMEDIA, January 10, 2011—(MCT)—In former home-building hot spots, the housing bust has created a new kind of declining city, different from the nation's traditional rusting centers of industry that could languish for years.
RISMEDIA, January 7, 2011—Fannie Mae recently launched WaysHome, a free, interactive multi-media tool designed to educate homeowners about their options to avoid foreclosure, empower them to make informed decisions and motivate them to take action and seek help in 2011.
RISMEDIA, January 6, 2011—The Federal Housing Administration (FHA) released guidance to homeowners and lenders that use the reverse mortgage or Home Equity Conversion Mortgage (HECM) program and are dealing with outstanding property taxes and unpaid hazard insurance premiums. FHA’s guidance is intended to assist elderly borrowers who have neglected to pay these expenses and may face foreclosure.
RISMEDIA, January 4, 2011—If you’ve been in the real estate industry for a long time, probably the last place you’d expect to see Brien McMahon is standing amidst a sea of pink flamingos. But McMahon is making a statement here. While his personal career path has indeed changed, more importantly, so has the consumer’s path to homeownership. In his new role as chief franchise officer for Philadelphia-based Radian Guaranty, McMahon is leading the charge to educate the lending and real estate communities about the benefits of private mortgage insurance (MI)—the fact of the matter is, MI is not ‘just another fee’ but rather a financially sound way
RISMEDIA, December 30, 2010—(MCT)—Morning begins in the Grisso household with the coffee maker grinding beans at 6:07, churning with the same grating sound as a fork spinning in a sink disposal. The eight occupants of the house stir. Two grandparents float into the kitchen and head to work, taking the whole pot of coffee with them for their hour long commute. Upstairs, a teenage girl hits the snooze button, annoying her uncle in the next room over, who doesn't want to hear the alarm buzz again after another all-nighter playing video games. Dogs run in and out of a crude doggie door in the wall.
RISMEDIA, December 29, 2010—In an effort to help families find decent housing and to prevent future foreclosures, the Obama Administration announced nearly $73 million in housing counseling grants to more than 500 national, regional and local organizations. As a result of the funding, hundreds of thousands of households will have a greater opportunity to find housing or keep the homes they have because of the housing counseling and counseling training grants awarded by U.S. Housing and Urban Development Secretary Shaun Donovan.
RISMEDIA, December 27, 2010—The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury released the December edition of the Obama Administration’s Housing Scorecard. The latest housing figures show continued home affordability in the housing market, with interest rates near record lows, but the market remains fragile, as prices are unsettled. Foreclosure starts and completions dropped significantly in November, as lenders review internal servicing procedures.
RISMEDIA, December 23, 2010—Existing-home sales got back on an upward path in November 2010, resuming a growth trend since bottoming in July, according to the National Association of REALTORS®. Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, rose 5.6% to a seasonally adjusted annual rate of 4.68 million in November from 4.43 million in October, but are 27.9% below the cyclical peak of 6.49 million in November 2009, which was the initial deadline for the first-time buyer tax credit.
RISMEDIA, December 22, 2010—Improvements in consumer spending and consumer confidence, increased demand for goods and services, and falling unemployment claims are all positive factors for a brighter outlook as we move into 2011, according to the December 2010 Economic
RISMEDIA, December 21, 2010—According to the American Heritage Dictionary, home is defined as “To the very center. To be guided to a target automatically.” In this challenging housing market, consumers still want a home as the centerpiece of a good life. Understanding their new frame of reference will allow you to help them make the dream come true.
RISMEDIA, December 20, 2010—(MCT)—Last spring, in the waning days of the first-time home buyer tax credit, Stephen Ploski made an offer on a foreclosed home in Farmington Hills, Mich. He said the 1,400-square-foot home was livable, but needed serious updates. He was willing to do the work, and take the risk. In exchange, he got a deal. The three-bedroom, one-bathroom home was his for $49,000. He lives in the home with his wife, Ashley and their daughter Lana.
RISMEDIA, December 17, 2010—RealtyTrac, a leading online marketplace for foreclosure properties released its U.S. Foreclosure Market Report for November 2010, which shows foreclosure filings—default notices, scheduled auctions and bank repossessions—were reported on 262,339 U.S. properties in November, a 21% decrease from the previous month and a 14% decrease from November 2009. One in every 492 U.S. housing units received a foreclosure filing during the month.
RISMEDIA, December 16, 2010—(MCT)—The Federal Reserve, saying that the economic recovery was not strong enough to bring down unemployment, vowed to stick with its controversial bond-buying program to spur growth and to hold short-term interest rates at near zero
RISMEDIA, December 15, 2010—(MCT)—The number of homeowners in the U.S. who owe more on their properties than what those homes are worth has declined steadily for most of 2010, according to Santa Ana, Calif. research firm CoreLogic. But the drop in properties with negative equity has more to do with troubled borrowers losing their homes to foreclosure than an increase in prices. About 10.8 million, or 22.5% of residential properties with mortgages were in negative equity positions at the end of the third quarter. That is down from 11 million, or 23%, in the second quarter.