RealEstateRama
REALTORS Urge Increased National Loan Limit as Vital to Housing Market
WASHINGTON, March 06, 2008 - The National Association of Realtors® today called on the U.S. Senate to enact reform legislation for the nation’s government-sponsored enterprises (GSEs) that will protect the vibrancy, liquidity and stability of the U.S. housing finance system.
The U.S. Department of Housing and Urban Development to Use Radar Logic as a...
NEW YORK, NY – March 6, 2008 – The Secretary of Housing and Urban Development (HUD) today released the new median home price guidelines for use in establishing conforming loan limits as part of the Economic Stimulus Act.
Economic Stimulus’ Biggest Real Estate Winners
There's some good news on the horizon for homeowners in cities like San Diego, Washington D.C. and Sacramento, Calif., where the real estate boom and bust has left those markets reeling from the effects of overbuilding, bad loans and foreclosures.
HUD AWARDS $50 MILLION TO AID PUBLIC HOUSING SENIORS AND FAMILIES
WASHINGTON - The U.S. Department of Housing and Urban Development today awarded more than $50 million in grants to assist senior citizens, disabled individuals and families living in public housing across the U.S, Hawaii, and Puerto Rico. HUD is awarding nearly $34 million to offer public housing residents greater access to education and employment and another $16 million to help elderly and disabled public housing residents to live independently
FORECLOSURE ACTIVITY INCREASES 8 PERCENT IN JANUARY
RealtyTrac the leading online marketplace for foreclosure properties, today released its January 2008 U.S. Foreclosure Market Report™, which shows foreclosure filings — default notices, auction sales notices and bank repossessions — were reported on 233,001 properties during the month, an increase of 8 percent from the previous month and an increase of nearly 57 percent from January 2007.
Children of Late Singer Fight Sale
Some of the singers’ 10 children don’t want the property sold. Ho himself put the home on the market for $10 million before he died last year. Family members never thought it would sell, but Ho’s trustees lowered the price to under $7 million and a sale is pending.
$1 Million Homes: A Prestigious Purchase
BusinessWeek Online surveyed million-dollar homebuyers in 20 markets across the country and concluded that buyers today who are seeking $1 million homes can truly afford them and see the purchase as a confirmation of their success – even when there are lots of other nice homes available for less.
FTC Charges Mortgage Foreclosure “Rescuers” with Deceiving Homeowners
In an ongoing effort to crack down on businesses that prey upon homeowners facing foreclosure, the Federal Trade Commission has charged six businesses and three individuals with violating the Home Ownership and Equity Protection Act (HOEPA), the FTC Act, and the Truth in Lending Act (TILA) by enticing homeowners into high-cost, short-term loans secured by an additional mortgage on their homes.
SEC Charges Three Promoters for Victimizing Military Families in Real Estate Investment Scheme
Washington, D.C., Feb. 27, 2008 - The Securities and Exchange Commission today charged three promoters who targeted military families in a multi-million dollar investment scheme that forced victims into personal bankruptcy and their homes into foreclosure.
New-Home Sales Decline to a 13-Year Low
Sales of new single-family homes fell 2.8 percent in January to the lowest rate in nearly 13 years, according to a U.S. Commerce Department report issued Wednesday.
Wells Fargo Analysis: 200 Troubled Markets
Wells Fargo & Co., the country’s second-largest mortgage lender, says it has identified more than 200 housing markets nationwide where the mortgage crisis has spread.
WIDESPREAD HOUSE PRICE DECLINES IN FOURTH QUARTER
WASHINGTON, DC – U.S. home prices fell in the fourth quarter of 2007 according to OFHEO’s seasonally-adjusted purchase-only house price index. The index, which is based on data from home sales, was 1.3 percent lower on a seasonally-adjusted basis in the fourth quarter than in the third quarter of 2007. This decline was substantially greater than the 0.3 percent price decline between the second and third quarters.
HUD Secretary: FHASecure helps 100,000 Americans stay in their homes
WASHINGTON - U.S. Housing and Urban Development Secretary Alphonso Jackson today announced that HUD's FHASecure product has helped 100,000 homeowners refinance their mortgages and avoid foreclosure. Since September 2007, FHASecure has enabled tens of thousands of families - who are current on their home loans or past due because their teaser rates reset - to close on loans refinanced through HUD's Federal Housing Administration (FHA), which is backed by the full faith and credit of the government
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Move to New York, and you could become an investment-banking millionaire. Head for Los Angeles for a chance at an eight-figure Hollywood paycheck. Or go prospecting in San Francisco for dot-com gold.
Governors Demand Federal Leadership On Subprime Mortgage Crisis
February 24, 2008 - Governor Eliot Spitzer today joined Governors from across the United States in calling on the Bush Administration to deliver a comprehensive solution to the ongoing mortgage crisis. As more Americans lose their homes, the Governors have taken aggressive actions and stand ready to partner with the federal government to deliver critical relief to homeowners in need.
Federal Judge: Control Foreclosure Penalties
A federal judge in Wilmington, Del., where many of the country’s largest companies are incorporated, says he is considering reining in mortgage companies that have been foreclosing on consumers who have brought their home loan payments up to date while they are in bankruptcy.
Don’t Fear Falling Prices
Yale Professor Robert Shiller, whose Case-Shiller 20-city home price index has become an industry standard, says people shouldn’t fear gradually falling home prices.
Foreign Buyers Look to U.S. Housing
The strength of the Canadian dollar, the euro, and other foreign currencies, on top of a slowdown in the U.S. real estate market, is making the United States an enticing place for foreigners to buy property.
Jackson names three local housing developments recipients of 2007 Best in American Living Award
WASHINGTON - February 11, 2008 - Three local housing developments in Blacksburg, Virginia; Palm Desert, California; and Denton Texas are the recipients of the 2007 Best in American Living Award for their design excellence and innovative approaches in affordable homeownership.
Sharp Decline in Housing and Mortgage Activity Expected Again This Year
In the second year of an ongoing housing recession, measures of housing activity deteriorated sharply. The 25 percent decline in total housing starts in 2007 nearly doubled the drop in 2006. The decrease was more pronounced in single-family starts, which were down 28.6 percent, compared with an 8.3 percent drop for multifamily starts.
