Short Sales of U.S. Homes on Track to Exceed Foreclosure Deals

Short sales of U.S. homes rose to a three-year high in the first quarter as banks agreed to let more borrowers unload property at a loss, putting the transactions on pace to surpass deals for foreclosures, RealtyTrac Inc. said. Sales of homes in the pre-foreclosure process increased to 109,521, up 25 percent from a year … Continue reading Short Sales of U.S. Homes on Track to Exceed Foreclosure Deals

Foreclosures and resulting blight infest once-safe neighborhoods

Foreclosed homes invite drugs and crime. But the city of L.A. and lenders aren't dealing effectively with the problem.By Hector TobarMay 29, 2012William Perez has been waiting a long time to tell someone all the sad and crazy things he's seen. Perez runs a crew that crisscrosses Los Angeles and the Antelope Valley doing the … Continue reading Foreclosures and resulting blight infest once-safe neighborhoods

Boomers and refis: a warning

It’s a mortgage problem that is likely to intensify as homeowning baby boomers by the millions shift into retirement: Though they may have significant financial assets tucked away in retirement accounts, their diminished monthly incomes may not be sufficient to meet some lenders’ hyper-strict underwriting rules. Jim Eberle of McLean, Va., found this out the … Continue reading Boomers and refis: a warning

Sen. Dean Heller touts bill to speed up short sales

Sen. Dean Heller now has a hat trick of housing bills before the Senate, after formally unveiling a bill to help expedite short sales Wednesday.Heller’s new bill is mostly an effort make all mortgage service providers subject to the same policies being implemented next month by federal lenders Fannie Mae and Freddie Mac.The bill—like the … Continue reading Sen. Dean Heller touts bill to speed up short sales

BofA to buyback $330 million in Freddie Mac mortgages

Bank of America ($6.98 0%) will repurchase roughly $330 million in mortgages it sold to Freddie Mac due to "contractual matters," according to a filing with the Securities and Exchange Commission. The loan repurchase will be completed by the end of May, Freddie said. Analysts at Barclays Capital noted the affected pools were mostly issued … Continue reading BofA to buyback $330 million in Freddie Mac mortgages

Judicial States Will Lag Behind Recovery: Capital Economics

While the housing market is starting to show signs that it is strengthening, for some states, recovery still seems to be in the very distant future. According to a report from Capital Economics, one factor that will determine the speed of recovery for individual states is the type of foreclosure procedure used. “While the national … Continue reading Judicial States Will Lag Behind Recovery: Capital Economics

Illinois Cook County Real Estate Tax Assessment Started – CONTEST THEM

In 2012 - The Cook County Assessor will reassess all property located in Chicago. Assessments will be mailed one township at a time - Rogers Park & Lakeview township notices have been mailed - Lake is expected to be mailed shortly. Many commercial assessments are increasing even though property values are on the decline. UNLESS … Continue reading Illinois Cook County Real Estate Tax Assessment Started – CONTEST THEM