Foreclosure Aid Programs Failing

Posted: 12/16/2011

Home ForeclosureThe US government's foreclosure-prevention program, which was first introduced in 2009, has been struggling to offer help to people who are in danger of foreclosure. When the program was initially launched, it was estimated that {...}

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Foreclosure Crisis Only Half Way Over

Posted: 11/28/2011

Foreclosures Half Way OverThe Mortgage Bankers Association is reporting that new home foreclosure filings have increased during the third quarter as home owners are failing to get approvals for loan modifications. Nationwide, foreclosure {...}

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Home Prices Will See Triple-dip

Posted: 11/07/2011

The financial analytics company Fiserv is estimating that home values will fall another 3.6% by next June, pushing them to a median price of 35% below the housing peak from 2006. Many factors, including rising foreclosure activity and continuing high unemployment are working against an already weak housing market. The housing market {...}

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Many Homes Could Be Upside Down Forever

Posted: 10/21/2011

Housing Market UnsteadyBuilding debt in the US and overseas is still fueling the negative and stagnant growth seen in the housing and consumers markets. The similarity between today's economic woes and those seen during the great depression and Japan's recession {...}

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California Withdraws From Negotiations

Posted: 10/07/2011

HousesCalifornia withdrew from settlement negotiations with the major banks last week amid inadequate offers by the banks to help California homeowners. A potential deal would allow the banks to gain some legal protection against claims of {...}

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Fed Tries to Revive Sluggish Economy

Posted: 9/22/2011

Mortgage ApplicationThe Federal Reserve announced this week that it will try to boost the economy by lowering long-term interest rates in a stimulus known as "Operation Twist". Operation Twist will allow the Fed to shuffle $400 billion of its {...}

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Late Mortgage Payments Rise

Posted: 9/01/2011

The number of U.S. mortgages overdue by 30 days have risen to the highest levels in over a year as homeowners struggle to make their payments. In a normal housing market the number of homeowners who are delinquent is about 1.1 percent, according to the Mortgage Bankers Association. During the second quarter of this year however, that {...}

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Home Prices and Sales Fall in July

Posted: 8/17/2011

California Home Pricing DropThe newest data released by DataQuick shows that the median price paid for purchased homes in California dropped 0.4% to $252,000 last month. Comparatively, this is a 6% drop compared to the July of last year. Distressed properties, {...}

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August Market News

Posted: 8/04/2011

New Survey Finds Lenders Making Minimal Improvements

A new survey released by the California Association of realtors is showing that 77% of realtors classify closing a short-sale transaction as "difficult" or "extremely difficult". The survey, which is a followup to similar survey from December 2010, shows that little {...}

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New Law Protects Short Sale Hopefuls

Posted: 7/21/2011

Sacramento Capital BuildingCalifornia Governor Jerry Brown signed a law this week further protecting homeowners that are pursuing short sales. Senate Bill 458 bars first and secondary mortgage holders from going after people for deficiency balances after a short {...}

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