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Archive for August, 2012

RealtyTrac: Distressed Homes 23% Of All Sales

RealtyTrac: Distressed Homes 23% Of All Sales

The latest report from RealtyTrac shows that 23 percent of all existing home sales in the second quarter were either facing foreclosure or bank-owned REOs –“real estate owned” by lenders. The massive number of distressed sales is not much different from the first quarter when such properties represented 22 percent of the market oo and just a […]

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Should “Old” People Get Mortgages?

Should “Old” People Get Mortgages?

Over at PBS NewsHour Paul Solman looks at the question of whether a 66-year-old retiree is a good candidate for a 30-year fixed-rate mortgage. “Don’t worry about the lender,” says Solman. “A standard rule of thumb applies regardless of age: So long as your mortgage payments are no more than 45 percent of your gross […]

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July Numbers Down 10% But Has Foreclosure Activity Really Slowed?

July Numbers Down 10% But Has Foreclosure Activity Really Slowed?

Foreclosure activity is falling. According to RealtyTrac, July foreclosure activity dropped 10 percent when compared with 2011 and was 3 percent lower than in July 2011. Still, 191,925 U.S. properties received a foreclosure filing of some sort in July. That’s a big number by historic standards, but not as big as it could have been. Here’s […]

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Congress Passes Big VA Loan Benefits Package
By August 2, 2012 0 Comments Read More →

Congress Passes Big VA Loan Benefits Package

A wide-ranging veterans benefits bill  now awaiting the President’s signature will allow bigger loans for vets in high-cost real estate markets, continue the availability of VA-backed ARMs and improve access to VA mortgages for military families. Dubbed the “Honoring America’s Veterans and Caring for Camp Lejeune Families Act,” the omnibus measure offers a little something […]

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