More info…
“A Senate amendment based on Congressman Ron Pauls successful House bill to audit the Federal Reserve was blocked by the Senate yesterday evening on procedural grounds, as Jim DeMint slammed the Fed for refusing to disclose where trillions in bailout funds had gone, while a top Obama administration advisor called for a second stimulus package to be prepared.”
Housing finance records another rise
“Australia’s love of housing investment keeps picking up, defying the slow economy, with another rise in the number of home loans taken out.”
Bucking the mortgage modification trends
Mortgage modifications are supposed to be a win-win situation. Homeowners lower their monthly payments and get to keep their homes. Mortgage lenders, minimize loss by allowing the homeowner to hold onto their property than they would if the property went into foreclosure. The community benefits because instead of an empty property, they have neighbors. According to a new report from the Boston Federal Reserve Bank, lenders arent buying it. At least one bank, First Federal Bank of California, is.
Just released figures for May 2009 indicate that First Federal Bank of California, a subsidiary of FirstFed Financial Corp., has modified nearly $1 billion worth of home mortgages enabling more than 2,000 California families to avoid foreclosure. Perhaps more significantly 81 percent of homeowners whose mortgage have been modified by the bank are current on their monthly payments.
Beazer Homes Agrees to Pay $53M to Settle Mortgage Fraud Charges
“In the most blatant case of mortgage fraud disclosed to date, Atlanta-based Beazer Homes USA Inc. has agreed to pay a total $53 million to settle a U.S. Dept. of Justice lawsuit.
The suit could have triggered criminal prosecution against the 41-year-old homebuilder and possibly put it out of business, sources in a position to know tell Real Estate Channel.”
Low Prices, Rates Spur California Home Sales
” After a two-year downturn, California home sales have increased 27% through the end of 2008 and beginning of 2009, spurred by low home prices, mortgage rates and a belief that rates will increase in the near future, according to a survey by the California Association of Realtors (CAR).”
Mortgage Refinancing For Underwater Borrowers Now Available
” The Obama administration is furthering its efforts to jumpstart the credit and real estate sector by widening and softening the requirements for home loan borrowers to qualify for mortgage refinancing relief. The specific requirement that has been modified is the percentage of the home loan you must own before you can apply for mortgage refinancing aid.”
Related Websites -
Real Estate Investments - Good Idea or Bad Idea? Right now, if there was a market that had bad news written all over it, it would be real estate. The housing crisis has made investors jumpy, the economy appears to be tanking and home values are plummeting across the country. Would you believe that this is actually a good...... -
Top 50 Reasons To Invest In Real Estate Right Now! Someone said to me the other day, "since we are in a recession, give me one good reason why I should invest in real estate?" It caught me off guard , I couldn't even answer the question because it was just too overwhelming to me . I couldn't see how someone could be...... -
Mortgage and Divorce: I'm Unhappy To Be Stuck With You The San Francisco Gate writes that more and more divorced couples are forced to live together while trying to sell their home. People can't sell their homes, leading to a real-life version of the Jennifer Anison/Vince Vaughn movie, The Break-Up. It's not just that there are too many sellers and...... -
10 Things To Know Before You Buy Commercial Real Estate Contemplating the purchase of your first (or next!) piece of commercial real estate is exciting. Many investors start their real estate portfolios by owning single family homes - assets that are generally more time-intensive to care for, and which offer less cash flow as a general rule. The switch...... -
The Mortgage Crisis and Investments in Real Estate According to regional and state real estate analysts, the factors which previously fueled the housing boom of the last few years are easy to explain. The factors that fueled this boom in the real instate industry ranged significantly, including: - Interest rates that were historically low. - Flight-Risk Safety Investments......
You must log in to post a comment.