Two Democratic lawmakers are claiming that the Federal Housing Finance Agency failed to roll out a nationwide mortgage reduction principal plan for underwater home owners even though a pilot program the agency did two years ago showed that it could significantly trim taxpayers’ costs.
Two…
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Pending sales of existing homes rose to their highest level in nearly two years in March, according to the National Association of Realtors' latest Pending Home Sales Index.
The index, which represents contracts signed but not yet closed, jumped a seasonally adjusted 4.1…
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Home prices hit new post-bubble lows in February, according to a report out Tuesday.
The S&P/Case-Shiller home price index of 20 cities recorded a decline of 3.5% from 12 months earlier. Home prices have not been this low since November 2002.
"Nine [housing markets] hit post bubble…
ContinueAdded by GLOZAL on April 24, 2012 at 10:52am — No Comments
Five years after the U.S. housing bust sent sales and prices plunging, the spring home-buying season is pointing to a long-awaited recovery.
Reduced prices, record-low mortgage rates, higher rents and an improving job market appear to be emboldening many would-be buyers. Open houses are drawing…
Added by GLOZAL on April 17, 2012 at 10:49am — 4 Comments
Mortgage giants Fannie Mae and Freddie Mac could save $1.7 billion more than current loss-mitigation approaches by reducing loan balances for some troubled homeowners, according to a preliminary analysis by the firms' federal regulator.
The findings presented Tuesday hinted at a potential shift in the position of the Federal Housing Finance Agency, which until now has kept a hard line against forgiving debts of homeowners by maintaining that other types of loan modification are less…
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Koenig & Strey Real Living in Chicago started this week to charge potential home buyers a house-hunting fee for working with a real estate agent. The fees are common in some areas of the country and similar fee policies have been adopted by other HomeServices of America Inc. companies recently. But the fees…
ContinueAdded by GLOZAL on April 5, 2012 at 11:32am — 33 Comments
Construction slowed dramatically in recent years but has been showing signs of picking up in pockets across the country.
“There were a substantial number of projects deferred in 2008 and 2009 but those cases are much less so today, looking at 2010, 2011, and now in 2012,” says Robert Murray, vice president of economic affairs at McGraw Hill Construction, a construction data firm.
While construction has been increasing in recent months, it’s still far from its 2006 peak: New…
ContinueAdded by GLOZAL on April 4, 2012 at 1:57pm — No Comments
An improving economy is contributing to a gradual rebound in home prices across the country, according to mortgage giant Freddie Mac’s 2012 Economic Outlook report, released Wednesday. But there is still a way to go in the road to recovery for the housing market, the report noted.
“The housing market is showing some signs of shaking off the depression-like conditions that have plagued it for much of the past few years,” according to the report. “As if awakening from hibernation,…
ContinueAdded by GLOZAL on April 2, 2012 at 1:38pm — No Comments
Fannie Mae and Freddie Mac aren’t granting reductions in homeowners’ loan balances, as has been widely noted of late. Nevertheless, some Americans who have gotten into trouble on their mortgages are actually seeing their loan balances cut, as a debate rages in Washington about whether doing so on a wider scale will be effective.
More than 35,000 homeowners received principal reductions from their lender last year, the Office of the…
Added by GLOZAL on March 29, 2012 at 12:55pm — No Comments
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