Aged foreclosure inventory, which is comprised of residential mortgage loans in active foreclosure that are at least two years delinquent, has seen significant improvement in the last seven months, according to Black Knight Financial Services' May 2015 Mortgage Monitor released Monday. Black Knight examined approximately 468,000 active foreclosures at least two years delinquent and discovered … Continue reading Aged Foreclosure Population Sees Significant Improvement
Tag: buying real estate
Freddie Mac Offers Distressed Homeowners a Complete Guide to Foreclosures and Alternatives
Freddie Mac is now offering distressed homeowners a complete guide to foreclosure and how to avoid it, from assessing your situation to what to do when your home has been foreclosed on, as part of a new website launched this week as a one-stop resource for homeowners. The "MyHome by Freddie Mac" site offers homeowners … Continue reading Freddie Mac Offers Distressed Homeowners a Complete Guide to Foreclosures and Alternatives
Completed Foreclosures Decline But Remain At Double Pre-Recession Levels
While completed foreclosures on residential homes totaled 40,000 for April and have been steadily falling monthly for the last four years, they are still nearly double their pre-recession average per month, according to CoreLogic's April 2015 National Foreclosure Report released Tuesday. Completed foreclosures, which are a measure of homes actually lost to foreclosure, declined by … Continue reading Completed Foreclosures Decline But Remain At Double Pre-Recession Levels
Representative Waters Asks HUD For More Transparency For Non-Borrowing Spouses on HECMs
U.S. Representative Maxine Waters (D-California) has written a letter to Department of Housing and Urban Development (HUD) Secretary Julián Castro asking for relief and more transparency for seniors participating in HUD's Home Equity Conversion Program (HECM). At the center of the issue is the fate of surviving non-borrowing spouses upon the death of the last … Continue reading Representative Waters Asks HUD For More Transparency For Non-Borrowing Spouses on HECMs
Report: Foreclosure Rate in Judicial States More Than Triple That of Non-Judicial States
While 36 states reported a level of foreclosure inventory below the national average of 1.4 percent in January, the rate remained high in some states – namely in judicial states where the foreclosure process has to pass through the courts, according to CoreLogic's January 2015 National Foreclosure Report released on Tuesday. The foreclosure rate in judicial states … Continue reading Report: Foreclosure Rate in Judicial States More Than Triple That of Non-Judicial States
Zillow: Mortgage rates stay far below 4%
Daily rate was volatile due to holiday Ben Lane December 30, 2014 6:10PM 30-year mortgage30-year, fixed-rate mortgageInterest ratesmortgage lendingZillowZillow Mortgage Marketplace The interest rate for a 30-year, fixed-rate mortgage fell last week, continuing a trend of sub-4% interest rates, according to a new report from Zillow (Z). Current rate borrowers were quoted an average interest rate of … Continue reading Zillow: Mortgage rates stay far below 4%
Getting a mortgage is about to get easier
By Les Christie @CNNMoney December 9, 2014: 7:48 PM ET NEW YORK (CNNMoney) For years now, if you didn't have near perfect credit and a hefty 20% down payment, chances were slim that lenders would give you a mortgage. But that's all about to change. That's because Fannie Mae and Freddie Mac, the two … Continue reading Getting a mortgage is about to get easier
Purchasing Real Estate Online Becoming a More Prominent Reality for Homebuyers
According to comScore, online sales so far this holiday season (November 1 to present) have risen more than 16 percent against last year’s figures from the same time. Housing prices are also accelerating month-over-month and are predicted to reach pre-recession prices by mid-2015 (cnbc.com). With the average online purchase sitting at $180.94 (as of this … Continue reading Purchasing Real Estate Online Becoming a More Prominent Reality for Homebuyers
SEC grants Bank of America relief in $16 billion settlement
Ben Lane November 21, 2014 5:04PM The record-setting settlement between Bank of America (BAC), the U.S. Department of Justice, certain federal agencies and six states to resolve claims over toxic residential mortgage-backed securities can finally proceed after the bank was granted relief by the Securities and Exchange Commission. In August, BofA agreed to a $16.65 billion settlement over toxic mortgages, collateralized … Continue reading SEC grants Bank of America relief in $16 billion settlement
New 2% Down Mortgage from Wells Fargo
Here is a new loan program from Wells Fargo! 2% down payment (may be gifted) No mortgage insurance Condo, Townhome and Single Family Maximum annual household income $61,040 Closings costs can be paid by the seller Better than renting or FHA Chapter 7 & 13 discharged for 2 years Foreclosure or Short Sale completed for … Continue reading New 2% Down Mortgage from Wells Fargo
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