Real Estate Industry News

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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

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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

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The number of Americans who signed contracts to buy homes in November rose to the highest level in a year and a half. The best reading on pending homes sales since a federal home-buying tax credit expired appeared to encourage traders on Wall Street. Still, the National Association of Realtors cautioned that a growing number […]

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CHANDLER — The developer behind New York City’s famed Rockefeller Center will soon begin marketing an office park in the Phoenix suburb of Chandler that would boast the city’s tallest buildings. The Rockefeller Group Development Corp. wants to begin work on an eight-story office tower in Chandler and then add two more office buildings of up to […]

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The average rate on the 30-year fixed mortgage fell back down to 3.94 percent, the record low set earlier in the fall. Low rates offer a historic opportunity for those who can afford to buy or refinance. Still, few people are able to take advantage of the record-low rates or have already done so. The […]

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citiandwells

Wells Fargo (WFC: 25.76 -0.39%) and Citigroup (C: 26.08 +0.12%) continue on pace to score high marks for foreclosure prevention in 2011, according to Fannie Mae. The government-sponsored enterprise released its third-quarter list of top servicers Thursday. Ally Financial(GJM: 20.23 -0.15%) and Everhome Mortgage joined Wells Fargo and Citi among the largest servicers on track to perform at or above a median level. Bank of America (BAC: […]

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New-Home-Sales

NEW YORK — If the U.S. economy does not suffer more setbacks, the rate of mortgage holders behind on their payments should decline significantly by the end of next year, according to credit reporting agency TransUnion. Mortgage delinquency rates — the ratio of borrowers 60 or more days behind on their payments — will likely […]

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