Research firm First American CoreLogic says 23% of Americans with mortgages owe more than their home is worth. That’s 10.7 million U.S. mortgages, or almost 1 in 4, and another 2.3 million homeowners are within 5% of negative territory. Home prices have fallen so far that 5.3 million U.S. households are tied to mortgages at [...]
Read More...According to the National Association of Realtors (NAR), credit availability is the big unknown that will determine how soon commercial markets recover. The Commercial Leading Indicator for Brokerage Activity rose 0.9% to an index of 102.4 in the third quarter from 101.5 in the second quarter, but is 11.1% below a reading of 115.3 in [...]
Read More...According to the Mortgage Bankers Association’s (MBA) National Delinquency Survey, the delinquency rate for mortgage loans on one-to-four-unit residential properties rose to a seasonally adjusted rate of 9.64% of all loans outstanding as of the end of the third quarter of 2009, up 40 basis points from the second quarter of 2009, and up 265 [...]
Read More...Senate Votes To Extend Homebuyer Tax Credit WASHINGTON (AP) ― Senators have agreed to extend a popular tax credit for first-time homebuyers and to offer a reduced credit to some repeat buyers. Senators agreed Wednesday to extend a popular tax credit for first-time homebuyers and to offer a reduced credit to some repeat buyers. The [...]
Read More...RealtyTrac, an online marketer of foreclosed homes, says that despite concerted government-led and lender-supported efforts to prevent foreclosures, the number of filings hit a record high in the third quarter. “They were the worst three months of all time,” said Rick Sharga, spokesman for RealtyTrac. During the third quarter, 937,840 homes received a foreclosure letter [...]
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