RealEstateRama
State Foreclosure Prevention Group Produces Report On Mortgage Loss Mitigation
WASHINGTON, D.C. -- The State Foreclosure Prevention Working Group, a multi-state task force organized last summer by Iowa Attorney General Tom Miller to work with subprime mortgage loan servicers to reduce the number of unnecessary foreclosures by encouraging loan modifications and other sustainable, long-term solutions, released its first subprime mortgage servicing performance data report on Thursday.
Top 10 Rural Places to Live
The Progressive Farmer magazine has released its annual rankings of best places to live in rural counties. The selection is based on school quality, access to health care, low crime, and affordable farmland.
Freddie Mac Sets New Multifamily Record for 2007 Transactions
McLean, VA - February 04, 2008 - Freddie Mac announced today that it purchaseda record $44.7 billion in new multifamily business transactions in 2007, a 55 percent increase over the 2006 volume of $28.8 billion. This volume includes approximately $3.7 billion in targeted affordable housing products, which finance apartments that receive some form of government subsidy.
Bush Administration seeks $38.5 billion HUD budget in 2009
WASHINGTON – The Bush Administration’s Fiscal Year 2009 Budget seeks $38.5 billion for the U.S. Department of Housing and Urban Development, which represents a $3.2 billion or nine percent increase over the President’s proposed budget for FY 2008 and $1 billion more than HUD’s current budget authority.
Legislation Would Enable Tens of Thousands of Families in Danger of Foreclosure to Refinance...
Washington, DC – In response to the escalating housing crisis that is devastating communities, shaking our economy, and putting the financial security of millions of families at risk, Senator Hillary Rodham Clinton introduced the Mortgage Refinancing Initiative of 2008 which would provide an opportunity for at-risk households to refinance unworkable mortgages.
America’s Hardest-Hit Foreclosure Spots
What could be worse than getting behind on mortgage payments? Owing your lender more than your home is worth. That's what's happening to homeowners across the country, many of whom just a couple of years ago opted for interest-only or adjustable-rate mortgages.
DOL Grant to Address Shortage of Energy Sector Workers
Under the President's High Growth Job Training Initiative (HGJTI), the Department of Labor Employment and Training Administration (DOL-ETA) has announced the availability of approximately $10 million in grant funds for high-impact regional approaches to meet the workforce challenges of the energy industry and/or address the shortage of construction and skilled trade workers needed to maintain and expand the energy industry infrastructure
U.S. FORECLOSURE ACTIVITY INCREASES 75 PERCENT IN 2007
RealtyTrac the leading online marketplace for foreclosure properties, today released year-end data from its 2007 U.S. Foreclosure Market Report, which shows a total of 2,203,295 foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on 1,285,873 properties nationwide during the year, up 75 percent from 2006.
NAREE Real Estate Journalism Competition to Offer More Than $10,000 in Cash Awards
NAREE REAL ESTATE JOURNALISM CONTEST EXPANDS WITH 11 NEW CATEGORIES; $10,000 IN PRIZE MONEY. AWARDS OPEN FOR WEEKLY BUSINESS PAPERS, SPOT NEWS REPORTS; MORTGAGE & HOME DESIGN WRITERS
Among Foreign Investors, U.S. Real Estate Trounces Competition – But Gap between U.S. and...
Despite a growing interest in Asia, U.S. real estate, by a wide margin, has risen to the top of the global property market among foreign investors, with New York City and Washington named the top two global cities for foreign investors' real estate dollars according to the results of the 16th annual survey released today by the Association of Foreign Investors in Real Estate (AFIRE).
Live Auction Industry Exceeds $270 Billion in 2007
OVERLAND PARK, Kan., Jan. 28 /PRNewswire-USNewswire/ -- In 2007 the gross revenue from goods and services sold at live auction grew 5.3% to $270.7 billion. In 2006, the auction industry sold $257.2 billion in goods and services at auction, an increase of 7.1% from 2005
Fixed-Rate Mortgage Rates Plummet To Lowest Levels In Four Years
McLean, VA – January 24, 2008 - Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 5.48 percent with an average 0.4 point for the week ending January 24, 2008, down from last week when it averaged 5.69 percent as well. Last year at this time, the 30-year FRM averaged 6.25 percent.
Manufactured Housing Well Positioned to Provide Quality Affordable Homeownership
Washington, DC, January 22 - The Manufactured Housing Institute (MHI), today, released its National Policy Agenda for 2008. Gail Cardwell, President of MHI said, “Manufactured and modular housing are the right answer, at the right time for consumers looking for quality housing options.
America’s Richest Counties
It's easy to assume that the nation's richest counties dot the tri-state area around New York City, or San Francisco's Bay Area. Homeowners there, after all, shell out millions of dollars for small luxuries such as a lawn and a garage.
Over 300 Bank-Owned Homes Hit Auction Block in Buckeye State While Another 50 Pittsburgh...
As home prices drop and foreclosures swell, particularly in states like Ohio, buyers are increasingly flocking to foreclosed real estate auctions to find discounted property. Auctions of foreclosed homes, also known as bank-owned, give buyers an opportunity to purchase property below market value because banks are eager to dispose of these non-performing loans.
America’s Most Lucrative Neighborhoods
Twenty years ago, few house-hunters were interested in Charlestown, Mass. In this small, dense neighborhood, just across the river from Boston, commercial fishing piers and industrial development fell in the shadow of Interstate 93. Property values were appropriately low.
Secretary Paulson Statement on HOPE NOW Progress Report
Washington - Secretary Henry M. Paulson, Jr. issued the following statement today regarding the HOPE NOW alliance's progress report on the number of homeowners helped since the organization's inception. The report indicated that during the fourth quarter, following the creation of the alliance, mortgage servicers in the organization were modifying subprime loans three times faster than in the third quarter.
Foreclosures Push Down Rents
Due to home owners trying to rent homes they can’t sell, rentals are abundant and prices are at bargain levels in areas hit hard by foreclosures.
Soft-Market Secrets To Selling A High-End Home
Sales of new homes dropped last month to their lowest level in more than 12 years. Mortgage applications have fallen to their lowest level in a year. Bidding wars are pretty much done
OFHEO Releases New Mortgage Market Note About The Conforming Loan Limit And High-Cost Areas
Washington , DC – The Office of Federal Housing Enterprise Oversight (OFHEO) has published a new Mortgage Market Note on the conforming loan limit. The Note provides background information on the potential implications of increasing the conforming loan limit in high-cost areas, as proposed in pending House and Senate legislation.
