5/25/2012 11:32:00 AM
One Third of Homeowners Underwater, 9 Out of 10 Current
According to Zillow's Negative Equity Report released Thursday about 15.7 million U.S. homeowners were underwater in the first quarter of 2012. This translates to about one-third, or 31.4 percent, of homeowners with a mortgage, an increase from 31.1 percent ...
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5/23/2012 3:30:00 PM
Home Prices Show Strongest Gain in 6 Years
According to data from the National Association of Realtors, existing home sales rose to 4.62 million in April from March's 4.47 million. Economists had forecast the April sales pace would be 4.66 million. The median price of an existing home climbed 10.1 ...
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5/17/2012 12:42:00 PM
Bank of America to offer $2500 to $30,000 relocation assistance
Bank of America has launched a nationwide program to help prevent foreclosures. They are issuing from $2500 to $30,000 in relocation assistance to qualifying deliquent mortgage customers that complete a Short Sale before September 26, 2013. To qualify for ...
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5/17/2012 11:58:00 AM
Mortgage Rates hit another Low!
According to data from Freddie Mac, the average fixed rate 30-year mortgage fell to 3.79% this week. That's down from 3.83% the week prior, and marks the third straight week of fresh lows. The 15-year rate edged just slightly lower to 3.04%, from 3.05%, ...
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4/6/2012 12:05:00 PM
Historical $25B Settlement Approved by Federal Judge
The $25 billion settlement received approval from a federal judge Wednesday, but the announcement was not made public until Thursday, according to a Reuters article published Thursday evening.
U.S. District Judge Rosemary Collyer approved the national, historical ...
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12/6/2011 4:11:00 PM
Fannie Mae: Market Will Take Five More Years to Adjust
“We are five years through a 10-year adjustment process,” said Fannie Mae chief economist Doug Duncan at the Five Star MPact Mortgage Conference and Expo Tuesday morning. Dodd-Frank has 300 rules that must be implemented in the market. Half of ...
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10/11/2011 12:23:00 PM
Two California Investors Plead Guilty to Bid Rigging
Two real estate investors are pleading guilty to mail fraud and bid rigging at public foreclosure auctions in Northern California, according to the Department of Justice. Eric Larsen, a San Leandro resident, and Timothy Powers, an Alamo resident, conspired ...
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10/11/2011 12:18:00 PM
Market Will Not See Bottom Until at Least 2012
According to Zillows latest Real Estate Market Report released on Tuesday we won't see the bottom until next year. “At this point, we maintain the expectation that a definitive bottom will not occur until 2012 at the earliest,” Humphries stated. ...
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9/29/2011 11:47:00 AM
Google invests $128 Million in Affordable Housing
Google has the search, mobile, and advertising markets covered. Now it's branching out once again, this time into low-income housing developments. The Boston Globe reported today that Google has invested $28 million to build 240 housing units at the Charlesview ...
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9/29/2011 11:28:00 AM
Wells Fargo Increases Home Retention Efforts
Wells Fargo & Company says it will increase its commitment to credit counseling nonprofits by $5.4 million to a total of $12.4 million in 2011 – a 35 percent increase over the $9.2 million in 2010 – for national and local credit counseling ...
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