U.S. foreclosure filings rose 6% in February from a year earlier, the smallest increase in four years, according to RealtyTrac.
RealtyTrac Chief Executive James J. Saccacio added the leveling of the foreclosure trend isn’t necessarily evidence that fewer homeowners are in distress and at risk for foreclosure, but rather that foreclosure-prevention programs, legislation and other processing [...]
A contractor for Bank of America went into the home of a borrower which was not vacant nor in default with the mortgage. While Angela Iannelli was away, under instructions from Bank of America, the contractor cut off utilities, padlocked the door and confiscated her pet parrot, Luke. Maybe the contractor was thinking the woman [...]
The combination of affordable home prices, low interest rates, and the federal tax credit for home buyers have created an opportune time for many buyers to purchase a home. Many real estate analysts also believe that most housing markets have stabilized, but that some markets may decline further.
MAKING SENSE OF THE STORY FOR CONSUMERS
Buyers [...]
At last, someone has been convicted of stripping their foreclosed home! After showing many homes that have been foreclosed on and stripped, it’s about time law enforcement is doing something about this.
For example, I was going to make an offer on a foreclosed home for a client just this last week, but the listing agent [...]
According to a news release, the government is giving homeowners another year to refinance their loans under a little-used program designed to help borrowers whose homes have plummeted in value. My experience with clients who have tried to refinance their homes have had a total horrible experience with their mortgage holders.
The Obama administration effort, known [...]
As i mentioned in a recent article, China’s real estate is super hot and may be ready to collapse, well, it looks like Hong Kong and Singapore are in the same boat. Home prices in Hong Kong have risen 25 percent and land prices have doubled. Singapore’s government has stated that because of low interest [...]
I guess if you need money you sell your real estate? How about the State of California selling some of their real estate to raise money? Do you think that’s a great idea? In the bottom of the real estate market, the State is selling two dozen buildings in order to raise $2 billion to [...]
Los Angeles-Attorney General Edmund G. Brown Jr. has joined the California Department of Real Estate (DRE) and the State Bar of California in warning Californians to avoid forensic loan audits, the loan-modification industry’s latest “phony foreclosure-relief service,” in which homeowners pay up-front fees for a forensic review of their lender’s practices, but are provided no [...]
Numerous articles have reported that homeowners are underwater and that strategic defaults are increasing. However, a little known statistic by the Federal Reserve shows that home equity again is on the rise.
KEEP THIS IN MIND
• The Federal Reserve conducts substantial research on mortgage balances and home-value changes in hundreds of local markets nationwide and reports [...]
Another building bubble? Yes, but this time it’s not the US that has a building bubble, we are way past the bubble and on the path to recovery. This time it’s China, with banks making as many loans as possible to get the mortgage upfront fees. (Does this sounds familiar to you?)
Flipping properties, factory owners [...]
