New York Fed: 2 concerns holding Brooklyn back U.S. trade tariffs are already starting to push up inflation and will have a greater impact as they rise, though the U.S. economy is in a “good place” right now, according to Federal Reserve Bank of.
Modified mortgages re-enter shadow inventory – By next month the housing crisis will have cost 5,000,000 Americans their homes via foreclosures. Distressed inventory still above 5,000,000. If we were to take a count of how many people lost their homes to foreclosure since 2006, that figure will reach 5,000,000 by the end of the year.
The questionable cases are part of a backlog of more than 1.2 million loans that are in the process of foreclosure in the United States, according to RealtyTrac, a housing data firm based in.
MGIC: Primary new mortgage insurance continues to drop The requirements for removing your mortgage insurance premium (MIP) or private mortgage insurance (PMI) depend on your loan. Keep in mind the best way to figure out when you can remove your mortgage insurance is to call us. Here are some general guidelines. Canceling MIP on FHA loans
"With shadow inventory, rising foreclosures, little job growth and more stringent access to credit, weak sales will persist and the industry’s headache will linger." Home sales had soared in March and April as homebuyers rushed to sign contracts ahead of the April 30 deadline for the $8,000 tax credit.
Job gains feed the housing recovery After 12 years, Jobs Housing & Recovery Inc. has closed its doors due to lack of funding. A very special thanks to all those with whom we’ve shared many memories over the years, the many who have come and gone, and those that we have loved and lost along the way.
Lenders may have inventory of foreclosed homes that have not been released yet. It may be that the process is taking longer, and the REO departments cannot handle the volume, some may have title issues, some might be in a short sale process, or some may be occupied by tenants that just were granted a whole slew of rights through Protecting.
As of April 2012, shadow inventory fell to 1.5 million units, or four-month’ supply and represented just over half of the 2.8 million properties currently seriously delinquent, in foreclosure or REO. The four-month’ supply of shadow inventory is at its lowest level in nearly three years.
Government Measures No Match For Second Wave Of Foreclosures When the Obama administration in March instituted programs to help homeowners modify mortgage payments or refinance for lower interest rates, the idea was to curb the foreclosure crisis that has gripped the United States for the past two years.
RealtyTrac data shows the foreclosure rate for loans originated in 2009 is drastically lower than the rate on loans originated between 2004 and 2008. For loans originated in 2009 and beyond, the rate is less than 1 percent, while loans between 2004 and 2008 have a foreclosure rate that sits anywhere between 2-5 percent, Blomquist explained.
The dirty, possibly anti-trust secret Zillow/Trulia don’t want you to know Firm says Zillow/Trulia have potential anti-trust blood on their hands. (Editorial) While the industry reflects on Zillow’s acquisition of Trulia, one research firm cites potential anti-trust blood that could be on the companies’ hands. I know, I know – you’re probably sick of hearing about Zillow.NAR to Congress: Turn Fannie and Freddie into Non-Profits LPS revenue down 8.7% quarterly Sprint reported a quarterly revenue drop of 8.7 percent as revenue from its wireless business declined, and new and existing customers opted for its installment plans. According to the company’s quarterly finance report, the wireless giant reported a loss of $20 million or 1 cent per share for the.A trade organization for real estate agents, the National Association of Realtors (NAR) is recommending to Congress that the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac be.Freddie Mac: Mortgage rates posts little change Median home prices in Illinois are 15% lower than the national average, which makes homeownership within reach in the state. And aspiring homeowners may also get a hand from the federal and illinois state governments, which have created mortgage programs to make it more affordable. No matter your financial situation, these programs are worth exploring.
Surge in foreclosures signals strengthening U.S. housing market U.S. lenders are notifying more delinquent homeowners they face foreclosure, a step toward clearing a backlog of properties and.