FHA loans post higher delinquencies
At a time when the mortgage market is seeing steady signs of improvement, loans backed by the Federal Housing Administration (FHA) continue to see an increase in the number of borrowers seriously delinquent on their mortgage and falling into foreclosure, according to a new quarterly report issued by the Office of the Comptroller of the […]14 years ago
Foreclosure inventory remains near all-time high
The nation’s foreclosure inventory remains near an all-time high, with 4.12 percent of all active mortgages in the foreclosure pipeline in addition to the 3.2 percent that are 90 days or more delinquent but have not yet begun the foreclosure process. The data, reported in the May Mortgage Monitor released by Lender Processing Services, shows […]14 years ago
Regulator warns of home-equity loan losses
U.S. banks could suffer fresh mortgage losses over the next five years on home equity loans made a decade earlier, with more than half the amount borrowed from national banks leading to higher payments from 2014 to 2017. The Office of the Comptroller of the Currency (OCC) warns that equity borrowers whose incomes and property […]14 years ago
Fed agency plans mortgage market makeover
The Consumer Financial Protection Bureau says it’s planning for some major changes to the home mortgage market in the next six months. Its main goal: to improve the fairness and clarity for borrowers applying for home mortgages. The newly created agency has made the mortgage market its top agenda item. “It’s the market where consumers […]14 years ago
Report: Countrywide gave lawmakers ‘sweetheart’ loans
A new report issued by the House of Representatives accuses Countrywide Financial of issuing "sweetheart loans" to members of Congress, their staffs, and government employees through a secret "VIP program.
14 years ago
Puget Sound home sales, prices on the uptick
Figures released by the Northwest Multiple Listing Service show 8,577 sellers accepted offers on their homes and condominiums in June.14 years ago
Agency oversight led to deteriorating foreclosures
According to a report by the inspector general of the Federal Housing Finance Agency (FHFA), loose oversight of thousands of contractors tasked with maintaining foreclosed properties caused neighborhoods to deteriorate and exposed Fannie Mae and Freddie Mac to fraudulent billing. From 2008 through most of last year, the FHFA did not conduct the necessary targeted […]14 years ago
Renters get squeezed by rising rents, loan requirements
Rents continue to inch upwards and many renters say they know it would be cheaper to buy a home than rent, but they can’t qualify for a mortgage, Reuters News reports. With rising demand for rentals, landlords are increasing their rents and some cities are even posting double-digit percentage rental increases annually. Apartment rents have […]14 years ago
Home more than shelter to country’s founding fathers
The homes of founding fathers like George Washington, Thomas Jefferson and John Adams were more than shelter; they were places of respite, reflection and inspiration. In some ways, historic homeowners bear little resemblance to the homeowners of today. George Washington inherited Mount Vernon when he was 20; only 4 percent of recent home buyers were […]14 years ago
Sentimental crossroads: Time to sell the family cabin
While I had always thought our kids would take over our 50 percent share in the summer-only, lake place we've held with another family for more than 30 years, the realistic chances of that happening become more remote as the years whip by.14 years ago
Jackpot! Foreclosure whistleblowers become millionaires
Six Americans stand to collect up to $46.5 million for their part in helping to expose foreclosure abuses by the nation's largest banks.14 years ago
Countrywide: ‘Worst deal in history of American finance’
Bank of America’s purchase four years ago of Countrywide Financial Corp. has proven to be a costly one. After purchasing Countrywide for $2.5 billion, Bank of America has already faced more than $40 billion in real estate losses, legal expenses, and settlements stemming from that 2008 purchase, The Wall Street Journal reports. “It is the […]14 years ago
Only 10 percent of lenders loosened loan standards
The housing industry has blamed banks’ tight mortgage standards as preventing many potential buyers from being able to purchase a home. But a new survey by the Office of the Comptroller of the Currency shows that fewer banks are tightening their standards, which may open the doors for more buyers to qualify for a mortgage. […]14 years ago
Windermere creates builder unit to market new homes
After years of a sluggish building market, new homes are finally going up and the trend is expected to continue . Agents are polishing their new-home marketing skills in preparation of a steady market.
14 years ago
New to the rental biz? Zillow offers five great tips
Investing in a rental property is a great way to generate income, but it’s not always easy. Renting out your property also involves managing it – and mistakes along the way can end up costing you more money. Although there’s no guaranteed way to weed out bad tenants in your screening process, you can definitely […]14 years ago
Several housing gaugues soar, also spark questions
The National Association of Realtors is reporting an increase in home contract signings for the 13th sraight month. Pending home sales are up 13.3 percent over May 2011 and up nearly 6 percent over April 2012. “The housing market is clearly superior this year compared with the past four years,” said Lawrence Yun, NAR chief […]14 years ago
Student loans played huge role in housing crisis
The housing slump is one of the culprits behind rising student loan debt, suggests an analysis of government data by the National Association of Home Builders.14 years ago
Share and share-alike – especially during tough times
A new Census Bureau report showed an 11.4 percent rise between 2007 and 2010 in the number of adults sharing houses or apartments with family members and others, indicating that many people doubled up to survive the recession. The number of adult children living with their parents climbed by 1.2 million to 15.8 million during […]14 years ago
Americans too optimistic about recovery, Trulia reports
Fifty-eight percent of more than 2,000 adults surveyed say they believe their local home prices will return to previous housing bubble- level peaks within the next 10 years14 years ago
What renters are willing to sacrifice for a home
Eighty percent of non-homeowners are willing to give up certain luxuries in their life so that they can purchase a home, according to Century 21’s Spring Home Buyer/Seller Survey. So what are they willing to sacrifice in order to save for the purchase? The survey found: 50 percent would cut back on dining out. 49 […]14 years ago
National market to bottom next year, Fannie predicts
Despite a downward revision to economic growth in the first quarter, moderate growth is expected to continue for the remainder of 2012, according to Fannie Mae’s Economic & Strategic Research Group. Cautious optimism remains in place for continued gradual healing of the housing market, the report found. Main measures of home prices have firmed in […]14 years ago
Five biggest mistakes homebuyers make
Some homebuyers fall for common pitfalls when purchasing a home. How can you help make sure you don't fall for one?14 years ago
Harvard study reveals lender roadblock to recovery
While the housing market continues to post recent gains, one thing still remains in its way to a full recovery: Lenders’ unwillingness to issue more loans, suggests a new study by the Harvard Joint Center for Housing Studies. “Think about how careful people are moving back into the market when prices have fallen this much,” […]14 years ago