The S&P Case-Shiller 20-city index sets marks for monthly and annual declines, as fall extends to 30th straight month.
NEW YORK (CNNMoney.com) — Housing prices in 20 major cities fell at record monthly and annual levels in January, according to a private report issued Tuesday, with prices down 2.8% from December and 19% from a year [...]
The average 30-year fixed mortgage rate dips to 5.19%, according to a report from Bankrate.com, the lowest rate since 1956.
NEW YORK (CNNMoney.com) — Home mortgage rates dropped to a 52-year low this week, according to a report released Thursday, in the wake of the government’s announcement that it will buy more than $1 trillion in [...]
Government report shows construction of new homes jumped 22% in February.
NEW YORK (CNNMoney.com) — Initial construction of U.S. homes unexpectedly surged in February, after falling for eight months, according to a government report released Tuesday.
Housing starts rose to a seasonally adjusted annual rate of 583,000 last month, up 22% from a revised 477,000 in January, [...]
WHAT ABOUT RSS?
Would you go to a doctor if he told you he hadn’t read a medical journal in several years? Why not? Probably because when you are looking for expert help you expect them to keep current in their area of knowledge.
Well, I find that some of my readers don’t exactly understand what RSS [...]
Questions and Answers for Borrowers about the Homeowner Affordability and Stability Plan from the U.S. Department of Housing and Urban Development.
Borrowers Who Are Current on Their Mortgage Are Asking:
1. What help is available for borrowers who stay current on their mortgage payments but have seen their homes decrease in value?
Under the Homeowner Affordability and Stability [...]
First-time homebuyers: How to get the $8,000 tax credit
WASHINGTON – Feb. 17, 2009 – How does a first-time homebuyer take advantage of the $8,000 tax credit that President Obama is expected to sign into law tomorrow? It comes with a few rules. According to the most recent analysis, the following rules will apply – though [...]
February 18, 2009
The president is set Wednesday to unveil plans to stem foreclosures and stabilize housing. Loan modifications and help for those near default are expected.
NEW YORK (CNNMoney.com) — Obama administration officials are hammering out the details of a $50 billion foreclosure prevention program that the president is set to unveil Wednesday in Arizona, sources [...]
February 18, 2009
Foreclosure filings — default notices, auction sale notices and bank repossessions — continued to climb in January, though at a slower pace than the month before, according to RealtyTrac. That was still 18 percent higher than in January 2008.
“It’s really a toxic mix of higher than anticipated prices on monthly payments combined with [...]
NEW YORK (Reuters) – About one in eight U.S. homeowners with mortgages, a record share, ended 2008 behind on their loan payments or in the foreclosure process as job losses intensified a housing crisis spawned by lax lending practices, the Mortgage Bankers Association said on Thursday.
With unemployment at a 16-1/2-year high and expected to continue [...]
Banks say they are lending. But many consumers and small business owners disagree. So where’s the disconnect?
NEW YORK (CNNMoney.com) — Bankers say they are lending but try telling that to consumers having difficulty getting approved for mortgages, credit cards or auto loans.
In recent weeks, politicians have accused financial institutions of failing to extend credit, despite [...]
NEW YORK (Reuters) – Citigroup Inc, JPMorgan Chase & Co, and Morgan Stanley said they had placed a moratorium on foreclosing on some home loans to give the government time to launch a $50 billion mortgage relief program.
The moratorium announcements come days after major bank chief executives committed to pausing mortgage foreclosures at a Congressional [...]
By Jonathan Stempel
NEW YORK (Reuters) – One in five U.S. homeowners with mortgages owe more to their lenders than their properties are worth, and the rate will increase as housing values drop in states that have so far avoided the worst of the crisis, a new study shows.
About 8.31 million properties had negative equity at [...]
Citi Mortgage just announced that they will allow their mortgagees to pay as little as $500 per month over a 3 month period to help homeowners out. There are specific details involved so contact customer service directly at 1-800-MORTGAGE (1-800-667-8424).
This may not be directly real estate related, but it is a indication that there is momentum building back up which will lead to real estate movement!
Total sales rose 1% in January versus expectations for a decline. Sales excluding auto purchases also show unexpected gain.
NEW YORK (CNNMoney.com) — Retail sales unexpectedly rose in January, giving [...]
