Ill. Supreme Court issues rules on foreclosures

By REGINA GARCIA CANO - The Associated Press Created: Saturday, February 23, 2013 5:30 a.m. CSTSPRINGFIELD – Mortgage lenders in Illinois will have to prove to judges that they've offered underwater homeowners a variety of options – including modifications to their loans – before foreclosing, the state Supreme Court said Friday.The court issued a new set of … Continue reading Ill. Supreme Court issues rules on foreclosures

Freddie Mac: Rental Sector Shows Growth, but Lacks Affordability

In a blog post, a Freddie Mac executive revealed more than one-third of U.S. households are renters, the largest share since 1997, yet adequate, affordable rental housing is still out of reach for many. According to David Brickman, SVP of multifamily at Freddie Mac, the nation has seen 5.4 million new renter households between 2004 … Continue reading Freddie Mac: Rental Sector Shows Growth, but Lacks Affordability

Foreclosure discounts no longer as steep

During the peak of the mortgage crisis, foreclosed homes sold at a 25% discount on average, but the market is stabilizing and the price differentiation between a home’s foreclosed valued and original market value is beginning to narrow, FNC reported. The real estate analytics firm released a Foreclosure Market Report Monday, saying home prices are … Continue reading Foreclosure discounts no longer as steep

New Legislature Key to Drop in Foreclosure Starts

New Legislature Key to Drop in Foreclosure Startsby Credit.com on 02/18/2013       The new year saw a substantial improvement to the country’s housing market, as the number of foreclosure starts nationwide dipped markedly from a month and year earlier.More than 150,000 filings were recorded during January, according to RealtyTrac’s Foreclosure Market Report, which was 7 percent less than the figure … Continue reading New Legislature Key to Drop in Foreclosure Starts

Homebuyer Interest Off to Strong Start in 2013 02/08/2013 By: Tory Barringer

Homebuyer interest got off to a strong start in 2013, according to Redfin’s Real-Time Demand Pulse for February.The report, which reflects data for January, shows the number of Redfin customers requesting home tours rose 57.9 percent in January, up from 52.0 percent at the same time in 2012.January’s monthly increase is a turnaround from December’s … Continue reading Homebuyer Interest Off to Strong Start in 2013 02/08/2013 By: Tory Barringer

RealtyTrac Ranks Best Metros to Buy Foreclosures in 2013

By Esther Cho  DS newsWhile the national trend shows home prices are rising and the supply of foreclosures is shrinking, on a more microscopic level, there are still metros where investors can find foreclosures at steep discounts and in greater abundance.RealtyTrac compiled a list of the 20 best (and worst) metro areas to buy foreclosures … Continue reading RealtyTrac Ranks Best Metros to Buy Foreclosures in 2013

Florida Supreme Court rules on controversial foreclosure case

A Florida homeowner lost his bid to get a voluntarily dismissed foreclosure case reinstated for the purpose of showing the initial foreclosure proceeding contained fraudulent documentation. The court's decision is a major one for default attorneys and banks in Florida, especially those dealing with robo-signing or documentation handling issues that were alleged at several major … Continue reading Florida Supreme Court rules on controversial foreclosure case