Real Estate Investing, Short Sales, REO's, Bank Owned Foreclosed Homes, private money lending

Coming loan changes could squeeze high-priced home markets

September 9, 2011

Starting Oct. 1, Fannie Mae and Freddie Mac will cut the size of loans they buy from lenders. That will force many future borrowers into more expensive and harder-to-get jumbo loans. The Freddie and Fannie limits, which are generally $417,000 for single-family homes nationwide, were raised in 2008 in some high-cost housing markets to stimulate the economy. In many [...]

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JPMorgan expects further drop in home prices

September 9, 2011

JPMorgan expects further drop in home prices (ya think)… Home prices could dip another 6% to 7%, before hitting rock bottom in early 2012, according to analysts at JPMorgan Chase. If that is the case, prices will fall about 37% from peak levels reached before the 2008 housing meltdown. In the banking giant’s September home price [...]

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Housing market faces long, cold winter: Altos

August 20, 2011

Low interest rates and a glut of inventory failed to substantially stimulate a weak housing market this summer, according to Altos Research. Based on summer statistics and shaky economic indicators, Altos is predicting a “long, cold winter” with nothing on the horizon to suggest improved housing market activity through the fall and winter. Home prices in [...]

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Foreclosure activity falls to 44-month low

August 11, 2011

Foreclosure activity falls to 44-month low Foreclosure activity fell 35% in July compared to last year, hitting a 44-month low, according to foreclosure data firmRealtyTrac. The number of foreclosure filings – which includes default notices, auctions and bank repossessions – hit 212,764 in July, down 4% from June. RealtyTrac attributes the drop in foreclosures to [...]

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Beazer Homes 3Q loss doubles, as closings fall 49%

August 10, 2011

Beazer Homes 3Q loss doubles, as closings fall 49% Homebuilder Beazer Homes saw its loss deepen to $59.1 million, or 80 cents per share, for its fiscal third quarter ended June 30, as the number of homes closed fell 49%. Analysts were expecting the Atlanta-based company to report a loss of about 42 cents a share for [...]

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10,000 Completed HAFA short sales

August 8, 2011

Completed HAFA short sales pass 10,000 Servicers completed 10,438 short sales through the government’s Home Affordable Foreclosure Alternatives program since it launched in April 2010, according to the Treasury Department. HAFA was designed to provide an incentive to servicers for completing short sales and deeds-in-lieu of foreclosure for loans that fail out of the larger Home [...]

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Major Lenders Offering Perks on Short Sales

August 1, 2011

Major Lenders Offering Perks on Short Sales

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US Homeownership drops to 1998 level

August 1, 2011

Homeownership drops to 1998 level The U.S. homeownership rate in the second quarter dropped to its lowest level in 13 years, according to theCensus Bureau, with analysts expecting even more drops ahead. The homeownership rate fell to 65.9%, down one percentage point from a year ago. It’s the lowest level measured since the first quarter [...]

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Ocwen unveils new principal reduction program

July 26, 2011

Ocwen unveils new principal reduction program Ocwen Financial Corp. launched a new modification program to reduce the principal on a mortgage for delinquent borrowers, while compelling them to share in the future appreciation of the home’s value with the investor. Mortgage modifications will only be available for homeowners in negative equity. Atlanta-based Ocwen holds a $74 [...]

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