Foreclosure Crisis
Federal Foreclosure-into-Rental Program Picks Up Steam
The proposal – which would sell foreclosure homes, often in bulk, to private investors from government inventory – is set to go live in the “near term”, according to the Federal Housing Finance Agency. According to reports, the two government-sponsored enterprises will allow pre-qualification for investors and third parties who want to bid on foreclosure properties owned by the government. This effectively opens the doors [...]
Could We Be Seeing A Foreclosure Settlement Soon?
The foreclosure settlement saga continues to drag on and on, and as five of the biggest lenders in the country – Bank of America, Wells Fargo, JPMorgan Chase, Ally Financial, and Citigroup – sit across from a collection of state attorneys-general for yet another week, millions of homeowners, homebuyers, and investors are left waiting for something to
Governments Propose New Deal to Banks; Banks Balk for Now
And so the world continues to turn – unless you’re in the mortgage scandal settlement
Bank of America Making Real Estate News Today
Bank of America – the largest bank in the country by assets – has repeatedly made headlines over the past year due to the incredible number of foreclosures and other distressed properties it has on its books, the robo-signing scandal, and other dubious
Foreclosures Viewed As Solution, Not Problem, By Some After Former FDIC Head Speaks
We've grown accustomed to talking about the foreclosure crisis as one of the main problems with our economy today. (It is also one of the best investment opportunities of the past 50 years.) But, we've never heard anyone say that foreclosure is the solution, not the problem, and increasing the amount of foreclosures is a good thing – until former Federal Deposit Insurance Corporation Chairman Sheila Bair got the ball rolling on [...]
Foreclosure Home Problems Gave Rise to New Mortgage Rules
The rise in foreclosure home numbers has drawn attention to loopholes in mortgage financing practices in the U.S., housing market experts have revealed. This has then resulted in the recent emergence of several rules meant to eradicate shortcomings in procedures and at the same time, arrest further increases in foreclosure and distressed property figures.
Bank Home Foreclosures Precipitated Rise in Down Payments
The number of bank home foreclosures has remained high in the U.S., effectively keeping prices of residential properties at all-time lows. Private lenders are reportedly trying to protect themselves from further decreases in housing prices by upping down payments required from homebuyers.
Listings of Foreclosure Homes Pulled Housing Prices Down in 4Q
Listings of foreclosure homes pulled down the prices of residential properties in the U.S. last quarter as these houses got sold at heavily discounted rates. The decline in prices also resulted an increase in the number of homeowners holding underwater mortgages or loans that are worth more than the properties for which these loans were taken out.
Bank Foreclosures Affect Burbank Home Prices
The local housing market actually enjoyed some sort of stability in 2010 compared to previous years. Still, experts and real estate agents are forecasting more struggles for the current year, particularly involving bank foreclosures and high-priced homes.
Foreclosure Homes for Sale Continue to Hold Homebuilders Back
The huge supplies of foreclosure homes for sale in the U.S. continued to weigh down home building last year. The house construction market has been in poor condition for two years now, with 2011 expected to be much the same as previous periods. According to real estate experts, any improvement in housing starts this year will be minimal.
