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Archive for May, 2011

Foreclosure Activity Down For 7th Month, Now Average 400 Days To Complete

Foreclosure Activity Down For 7th Month, Now Average 400 Days To Complete

Foreclosure filings were down again in April, but not because of an improved economy or a recovering housing market. Once more the issue is improper paperwork, apparently on a scale never before seen, and the result is not only fewer foreclosures but far longer foreclosure delays. RealtyTrac reports that April foreclosure filings — default notices, […]

Posted in: Mortgages
Will More Improper VA Mortgage Loan Foreclosures Be Uncovered?

Will More Improper VA Mortgage Loan Foreclosures Be Uncovered?

The problem of improper foreclosures on active duty military members may be more widespread than previously thought. That’s a key finding from a recent Government Accountability Office report, which concluded that two of the country’s largest mortgage banks improperly foreclosed on the homes of nearly 50 active duty service members. Government regulators discovered the inappropriate […]

Posted in: News
Why Less Government Means Fewer Jobs and Lower Home Prices

Why Less Government Means Fewer Jobs and Lower Home Prices

The latest report from Case-Shiller tells us that during the past year home values fell in 19 of 20 major cities. The exception was the Washington, DC metro area where home values rose 2.7 percent. The question is why are home values rising in one area but not 19 others? Is there a magical formula […]

Posted in: News
Less FHA Mortgage Loan Demand Undermines American Home Prices

Less FHA Mortgage Loan Demand Undermines American Home Prices

A small change in FHA guidelines has now hit the market and the result has been both immediate and devastating. “Purchase applications fell last week, driven primarily by a sharp decrease in government purchase applications as new, higher FHA premiums went into effect,” said Michael Fratantoni, the Mortgage Bankers Association Vice President of Research and […]

Posted in: Mortgages