AGBeat » Real Estate News

Stalled $26 billion civil mortgage settlement now finalized

Tara Steele — Thu, 09 Feb 2012 18:22:48 +0000

Mortgage foreclosure settlement In a historic deal after repeated delays and over a year of negotiations, the Justice Department, U.S. Department of Housing and Urban Development, and 49 state attorneys general has finalized a $26 billion civil settlement with five of the largest mortgage lenders for wrongful foreclosures through robo-signing wherein homes were foreclosed upon without human review or proper [...]

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Completed foreclosures drop 24% over the year

Tara Steele — Thu, 09 Feb 2012 08:10:26 +0000

A shift in foreclosures CoreLogic released its first national Foreclosure Report which provides monthly data on completed foreclosures, foreclosure inventory and 90+ delinquency rates, reporting that completed foreclosures for all of 2011 totaled 830,000 compared with 1.1 million in 2010. CoreLogic notes that since September 2008, there have been approximately 3.2 million completed foreclosures. Completed foreclosures fell from November (57,000) [...]

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Banks’ brilliant idea to give cash incentives to short sale

Tara Steele — Wed, 08 Feb 2012 03:26:09 +0000

The housing crash Now that some of the causes and effects of the housing crash are becoming universally agreed upon and banks are ordered to pay billions in civil lawsuits and settlements for illegal foreclosures, the big banks are struggling to regain their composure after overlooking simple fixes like not continuing robo-signing documents illegally without human review before kicking people [...]

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Lovely rental search expanding across the nation

Tara Steele — Tue, 07 Feb 2012 22:53:23 +0000

Simplified search going national Last fall, AGBeat introduced you to Lovely, the San Francisco rental search startup with big plans and were named two short months later to the 60 Genius Brands to watch in 2012 list, and so far they have not disappointed, today secretly adding to their websites the names of the five cities they are about to [...]

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Mortgage settlement deal remains stalled, deadline passes

Tara Steele — Mon, 06 Feb 2012 23:10:32 +0000

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 [...]

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Windermere nabs talent from Realogy Corporation

Tara Steele — Thu, 02 Feb 2012 00:00:02 +0000

Windermere’s strategic hire Today, Geoff Wood, CEO of Windermere Real Estate announced that Scott Mitchelson, formerly Vice President of National Franchise Sales at Realogy Corporation, has joined Windermere as the company’s new Senior Vice President of Business Development. While it is not uncommon in the real estate industry to be a quiet game of musical chairs, this hire is a [...]

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Interest rates drop, stimulates mortgage application volume

Tara Steele — Thu, 19 Jan 2012 03:03:18 +0000

Mortgage applications skyrocket According to the Mortgage Bankers Association’s (MBA’s) seasonally adjusted index of mortgage application activity, home mortgages skyrocketed 23.1 percent last week as interest rates dropped. The increase was due mostly in part to a surge in refinancing demand. The MBA’s seasonally adjusted index of refinancing applications rose 26.4 percent, while the volume of new loan requests for [...]

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Midwest Real Estate Data leaders cautiously optimistic about 2012

Tara Steele — Wed, 18 Jan 2012 05:00:36 +0000

Exercising caution Forecasting and predictions from the National Association of Realtors for 2012, predicting a very small rate of improvement for the year, especially regarding home prices and sales as they are so intertwined with the health of employment levels in America. A new report from the Midwest Real Estate Data’s Board of Managers forecasts similarly, putting forward a cautiously [...]

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2011 real estate market report shows rentals are hot

Tara Steele — Mon, 16 Jan 2012 00:42:38 +0000

Rents rise, home sales prices slip Tomorrow, HotPads will release their annual housing report, this year reporting that rents for two bedroom units rose 3.75 percent in 2011 while home sale prices of two bedroom units fell 1.83 percent in the top 20 most populated metropolitan markets. In 2011, HotPads reports that studio rentals rose 7.12 percent, representing the highest [...]

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Americans oppose elimination of mortgage interest deduction

Tara Steele — Thu, 12 Jan 2012 01:51:15 +0000

American voters and homeownership By an overwhelming margin, a new study about homeownership and housing policies shows that American voters would oppose any efforts to weaken or eliminate the mortgage interest deduction or diminish a federal role to help qualified home buyers to obtain affordable mortgages. The National Association of Home Builders conducted a survey through the Republican and Democratic [...]

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