AG News Beat
Obama housing plan helps its one millionth homeowner
Housing plan helps one million The U.S. Treasury Department reported today that since the Obama administration launched their foreclosure prevention program in 2009, nearly one million homeowners have been given permanent modifications to their mortgages, reducing their monthly payments. The housing plan gives mortgage servicers incentives to modify mortgage loans by cutting interest rates, deferring a portion of the loan ...
Mortgage settlement deal remains stalled, deadline passes
The deadline has passed – no deal At the end of business today, the deadline came and went for the $25 billion civil settlement between the states Attorneys General and major lenders as punishment for bank misdeeds leading up to the housing crash. The original deadline to agree on the settlement terms was originally last Friday, but was pushed back ...
Squatter lives in luxury home for months, now evicted
Adverse possession story comes to a head In the summer of 2011, Kenneth Robinson upset a Dallas neighborhood by walking into an abandoned $330,000 home, filing a $16 document for adverse posession with the county, and refusing to leave, saying he was the rightful owner, leaving police and officials powerless. Robinson became the face of adverse possession this year and the ...
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Home prices fall for fifth consecutive month
Home prices decline in 2011 With the release of the CoreLogic Home Price Index (HPI®) report for December, a full-year picture is now available for all price changes in 2011. According to the CoreLogic, the HPI report reveals that including distressed sales, home prices in the U.S. decreased 4.7 percent in 2011 compared with December 2010. With distressed sales excluded, ...
Mortgage application volume dips, lending remains tight
Applications decrease According to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey, the volume of mortgage applications dropped 2.9 percent from the week prior, on a seasonally adjusted basis and is 4.3 percent lower than the same week in 2011. The share of mortgages that are refinances has been relatively level, coming in at 80 percent this week, down ...
Top 10 most expensive rental homes in America
The ten biggest price tags 2012 is easily the year of the landlord as rental prices are on the rise and vacancy rates and days on market are on the decline. While many people are deal hunting, there are yet others who are seeking top of the line rentals – sometimes for short term use, and other times for their ...
FHFA begins registering investors to turn vacant foreclosures into rentals
FHFA pulls the trigger After an extended period of talking about selling off their massive inventory of foreclosed properties (Real Estate Owned properties, or REOs), the Federal Housing Finance Agency today announced the kickoff to their initiative to sell their inventory to investors in an effort to turn them into rental properties to serve the new generation of renters, many ...
Home prices drop in November lower than expected
Home prices dip November home prices drop lower than expectations, falling 1.3 percent in November, according to the latest S&P/Case-Shiller 20-city report. Of the 20 cities studied, home prices dropped in 19, with the total dip representing a 3.7 percent price drop from November 2010, but a shocking 32.8 percent drop since prices peaked in 2006. The health of this ...
Stalled $25B civil settlement with lenders may conclude this week
Hardworking Americans left holding the bag During President Obama’s State of the Union address, he noted that leading up to the housing collapse in 2008, regulators looked the other way. “It was wrong. It was irresponsible,” and ultimately, “innocent, hardworking Americans were left holding the bag.” On the same day, the administration announced a new task force aimed at mortgage ...
Why real estate lending will remain tight for years
Back to normal? Referring to current mortgage and commercial real estate loan delinquency rates released by the Federal Reserve, Texas Real Estate Center’s Chief Economist, Dr. Mark Dotzour said in a statement, “At the current pace of disposition, it will be many years before the real estate market credit conditions are back to ‘normal.’” Despite improved delinquency rates for loans ...
Midwest Real Estate Data announces new leadership
2012 leadership team Midwest Real Estate Data (MRED) is the real estate data aggregator and distributor providing the Chicagoland multiple listing service (MLS) to nearly 8,000 real estate offices and 40,000 real estate professionals, including brokers, agents and appraisers. Today, MRED’s Board of Managers nominates and elects a slate of officers from among their ranks to guide the company through ...
White House tries to improve Home Affordable Modification Program again
Foreclosure prevention program revamp Last fall, President Obama made a controversial move by bypassing Congress and moving forward with an executive order to fix housing by issuing the second phase of the Home Affordable Refinance Program (HARP) which eliminates fees and appraisal process, along with other adjustments. This week, the Obama administration announced that they are taking a similar approach ...
Benn Rosales
Conal Campbell
Elijah May
Lani Rosales
Tara Steele
Marti Trewe
Charlene Jimenez
