Real Estate Industry News

Featured News


Congressional punt leaves tax breaks for loan mods in limbo

by:   December 20, 2013

mouse-trap-money   A law offering homeowners a tax break when a portion of their mortgage debt is forgiven through a loan modification, short sale or foreclosure is about to expire, leaving thousands of homeowners in limbo. The U.S. Senate failed to pass legislation designed to extend the Mortgage Debt Relief Act -- a [...] Read more...
Are we in a housing bubble? Not even close, experts say

by:   September 23, 2013

housingbubble1 Soft home prices equal a healthier market   Christina Mlynski September 23, 2013 12:01AM   While some borrowers might pull out of the housing market at the sight of the the slowdown in home prices, market experts are cautioning consumers not to slam on the housing brakes just yet. Home prices only [...] Read more...
States divert foreclosure prevention money to demolitions

by:   September 5, 2013

detroit demo house1        by Kate Davidson Marketplace for Tuesday, September 3, 2013 The Treasury Department has changed the rules on the Hardest Hit Fund, a program meant to help people hit by the housing crisis stay in their homes, allowing states to use some money from the $7.6 billion foreclosure prevention program to demolish [...] Read more...
5 Tips to Help You Save for a Down Payment

by:   August 29, 2013

Piggy-bank-house-cash-0d595f-300×199   Benjamin Feldman of ReadyForZero.com. So you can’t wait to buy a house. You’ve already scoped out the neighborhood where you want to live, and you’re starting to imagine yourself settling into a brand new home. But there’s one problem: You don’t have enough money for a down payment. But don’t [...] Read more...
Underwater homeowners become a smaller slice of the pie

by:   

UnderwaterMortgage   More than 1.96 million homeowners to be freed by next year Even as home values continue to recover, millions of homeowners remain so far underwater that it will take years for them to regain equity in their properties. However, the latest data from Zillow (Z) reveals that underwater borrowers are becoming a smaller and [...] Read more...

Latest News

foreclosure picture2

Sellers stop making payments for any host of reasons. Few decide to get into foreclosure voluntarily. It’s often an unforeseen result from one of the following: – Laid-off, fired or quit job – Inability to continue working as a result of medical conditions – Excessive debt and mounting bill obligations – Squabbles with co-owner, divorce […]

Read more...
mortgagesettlement

WASHINGTON – The federal government is “very close” to a settlement with mortgage servicers that could help a million homeowners by reducing what they owe on their mortgages, Housing Secretary Shaun Donovan told a conference of the nation’s mayors Wednesday. Donovan said the so-called robo-signing scandal, in which mortgage servicers were accused of initiating foreclosures […]

Read more...
foreclosure picture

Mortgage servicers are putting more failed Home Affordable Modification Program trials through foreclosure than these folks twelve months ago. According to Treasury Department data released last week, 10.6% of the more that 615,000 canceled HAMP trials completed the foreclosure process since Nov. 1. That’s more than double the 4.4% of failed HAMP trials foreclosed on […]

Read more...

Recent comments from the New York Federal Reserve president that government-sponsored enterprises should mimic investors in writing down principal on home loans are receiving harsh push-back from a certain U.S. senator from Tennessee. Last week in a speech to the New Jersey Bankers Association, William Dudley advocated the use of “accelerated principal reduction” by Fannie […]

Read more...
Delano

Home sales in the Miami area rose 5% in November with 7,855 closings on the books, DataQuick said this week. That figure is up 17.5% from a year ago and the highest November sales level since 2006 when 10,369 home closings were recorded by the San Diego-based research firm. DataQuick attributes the faster sales pace to lower […]

Read more...