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
Tag: Freddie Mac
Mortgage rates dip slightly after last week’s high
Average long-term U.S. mortgage rates eased this week after hitting their highest levels this year in the previous week. Mortgage giant Freddie Mac said Thursday the average rate on a 30-year fixed-rate mortgage declined to 4 percent this week from 4.04 percent a week earlier. The rate on 15-year fixed-rate mortgages slipped to 3.23 percent … Continue reading Mortgage rates dip slightly after last week’s high
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
January existing home sales come in flat compared to December
2015 sales expected to pick up where 2014 left off By: Trey Garrison, Housingwire.com Auction.com projects that existing home sales for January will fall between seasonally adjusted annual rates 4.9-5.21 million annual sales, with a targeted number of 5.06 million. This suggests that January sales will be up from one year ago and essentially flat … Continue reading January existing home sales come in flat compared to December
Foreclosures Falling, But Delinquency Rate Climbing
The nation's foreclosure inventory fell to its lowest level in almost seven years in November, but the percentage of delinquent mortgage loans is on the rise, according to Black Knight Financial Services' November 2014 "First Look" at Mortgage Data. Delinquent mortgages, which are those more than 30 days overdue but not in foreclosure, jumped by … Continue reading Foreclosures Falling, But Delinquency Rate Climbing
Freddie Mac’s Mortgage Portfolio Expands For Third Straight Month
November marked another month of expansion for Freddie Mac's mortgage portfolio, which grew again as new business ticked up. According to Freddie Mac's monthly volume summary, released Monday, the company's total portfolio ended November at an estimated $1.9 trillion, up an annualized 0.4 percent. Year-to-date, the portfolio's growth rate is an average -0.7 percent, the … Continue reading Freddie Mac’s Mortgage Portfolio Expands For Third Straight Month
Freddie Mac Predicts Biggest Year for Home Sales Since ’07
Author: Brian Honea December 16, 2014 Freddie Mac predicted that 2015 will see the highest level of home sales in the U.S. since 2007 in its December 2014 U.S. Economic and Housing Market Outlook released on Tuesday. In the report, Freddie Mac looked back at five key consensus predictions for 2014, how they fared, and … Continue reading Freddie Mac Predicts Biggest Year for Home Sales Since ’07
Frequently asked questions about buying a short sale – freddieMac
What is a short sale? A short sale occurs when a property is sold at a price lower than the amount the homeowner owes on the mortgage, and the homeowner's mortgage lender(s) agrees to the "short" payoff. A lender might accept a short sale with the property worth less than the balance of the mortgage, … Continue reading Frequently asked questions about buying a short sale – freddieMac
Bank Foreclosures Listed Far Below Regional Selling Prices
RealtyStore, a provider of a broad variety of real estate listings, recently released a report outlining average selling prices for bank foreclosures. The company found the median price of bank foreclosures for sale in six select states list at an average of nearly 50 percent below recent median existing-home sale prices. The states—Maryland, Massachusetts, Mississippi, … Continue reading Bank Foreclosures Listed Far Below Regional Selling Prices
What Sellers should know about the Mortgage Foregiveness Debt Relief Act not being extended
The Mortgage Forgiveness Debt Relief Act applies to homeowners who are NOT insolvent on the date of the sale. The internal revenue code has an existing exclusion of forgiven debt from income when the borrower is insolvent on the date of the sale (IRS Publication 4681). this has been an existing part of the tax … Continue reading What Sellers should know about the Mortgage Foregiveness Debt Relief Act not being extended
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