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Fannie Mae Adopts New REO Policy

In an effort to expedite REO sales, Fannie Mae has adopted a new policy. As part of this policy, Fannie Mae may accept offers to purchase homes it has repossessed without notifying loan servicers, and loan servicers may be required to reimburse Fannie Read More...
Posted Friday, January 08, 2010 1:19 PM by Helen Oliveri | 0 Comments

Personal Bankruptcy Filings Rising Fast

The number of Americans filing for personal bankruptcy rose by nearly a third in 2009, a surge largely driven by foreclosures and job losses. And more people are filing for Chapter 7 bankruptcy, which liquidates assets to pay off some debts and absolves Read More...
Posted Wednesday, January 06, 2010 1:48 PM by Helen Oliveri | 0 Comments

The Biggest Losers

Happy New Year, readers, but before we get on with the debates of 2010, there's still some ugly 2009 business to report: To wit, the Treasury's Christmas Eve taxpayer massacre lifting the $400 billion cap on potential losses for Fannie Mae and Read More...
Posted Tuesday, January 05, 2010 12:17 PM by Helen Oliveri | 0 Comments

Foreclosures Weigh on Home Appraisals

It wasn't the first time that Katherine Scheri ruined a real estate agent's day with a low property appraisal. Scheri, a real estate appraiser, had sized up a three-bedroom, two-bath house in Santa Ana, Calif., for $30,000 less than what the buyers Read More...
Posted Monday, January 04, 2010 1:29 PM by Helen Oliveri | 0 Comments

Consumer confidence up, house prices stall

NEW YORK (Reuters) - U.S. consumer confidence rose to a three-month high in December, while prices in the hard-hit housing sector stalled in October, breaking a five-month string of gains. The consumer confidence reading released on Tuesday reinforced Read More...
Posted Wednesday, December 30, 2009 12:28 PM by Helen Oliveri | 0 Comments

Foreclosures for major sector of bank industry topped 1 million in third quarter, report says

The number of home foreclosures for a major sector of the banking industry topped 1 million for the first time in the third quarter of the year as struggles spread to homeowners with prime loans and modified mortgage payments, according to new data released Read More...
Posted Monday, December 21, 2009 11:16 AM by Helen Oliveri | 0 Comments

American Dream 2: Default, Then Rent

Housing Starts in U.S. Climb 8.9% to 574,000 Pace December 16, 2009, Bloomberg Builders in November broke ground on more U.S. homes, a sign the recovery in homebuilding may carry through into 2010. Housing starts rose 8.9 percent to an annual rate of Read More...
Posted Wednesday, December 16, 2009 11:34 AM by Helen Oliveri | 0 Comments

Guidelines on Short Sales Released

The Obama administration Monday announced long-awaited guidelines that should make it easier for some financially-troubled borrowers to sell their homes. The new rules are designed to encourage the use of short sales, transactions in which the borrower—with Read More...
Posted Wednesday, December 02, 2009 10:49 AM by Helen Oliveri | 0 Comments

Homeowners Predict a Full Recovery in Next Six Months

Some rental investments don't pay off Inman News Buying foreclosed, or otherwise inexpensive, residential units with the game plan of renting the property for as many years as it takes until real estate appreciation returns has proven to be a time-tested Read More...
Posted Friday, November 20, 2009 9:34 AM by Helen Oliveri | 0 Comments

3rd Drop in Foreclosures Hints at Recovery; State-By-State Chart

3rd Drop in Foreclosures Hints at Recovery; State-By-State Chart November 12 2009, USA TODAY Foreclosures fell for the third-consecutive month in October, another sign the worst of the housing crisis may be past. RealtyTrac, an Irvine, Calif., real estate Read More...
Posted Thursday, November 12, 2009 1:43 PM by Helen Oliveri | 0 Comments

NFL Star Sacked by Foreclosure

For 10 years, former NFL defensive end Marcellus V. Wiley menaced quarterbacks, playing for the Buffalo Bills, the San Diego Chargers, the Dallas Cowboys and the Jacksonville Jaguars. Now he may be sacked by foreclosure. Wiley, better known as “Dat Read More...
Posted Wednesday, November 11, 2009 8:16 AM by Helen Oliveri | 0 Comments

Bailout: $15 Billion More to Fannie Mae (and More to Come)

Bailout: $15 Billion More to Fannie Mae (and More to Come) November 6, Pro Publica The Treasury Department will pump $15 billion more into Fannie Mae, the company announced [1] last night. That brings Fannie’s total bailout to $59.9 billion; together Read More...
Posted Monday, November 09, 2009 9:50 AM by Helen Oliveri | 0 Comments

Foreclosure Activity & Unemployment

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Posted Monday, October 26, 2009 10:24 AM by Helen Oliveri | 0 Comments

Waiting for the Next McMansion to Drop

Waiting for the Next McMansion to Drop The Wall Street Journal Despite some tentative signs of recovery, the U.S. housing market remains vulnerable to further price drops—especially in areas where large numbers of mortgages are headed toward foreclosure Read More...
Posted Thursday, October 22, 2009 8:31 AM by Helen Oliveri | 0 Comments

Feared flood of foreclosures in California may be averted

Feared flood of foreclosures in California may be averted Feared flood of foreclosures in California may be averted Los Angeles Times Signs are emerging that a much-feared escalation of California homeforeclosures may not happen, as banks respond to government Read More...
Posted Wednesday, October 21, 2009 9:23 AM by Helen Oliveri | 0 Comments
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