It is reported in the media that the federal government is contemplating a new bailout plan by name “Restoring American Financial Stability Act of 2010”. Experts are of the opinion that the intended new rules imposed on mortgage lenders, would only add up the indirect cost of mortgages – already having higher pricing – entered [...]
It is common knowledge if a nearby house of yours falls into foreclosure tragedy; invariably it reduces the market value of your home as well, from the home buyer’s point of view. More so, if your neighborhood is one of those hard-hit by many foreclosure properties, the drop down of value for all housing properties [...]
According to financial experts, the economic recovery depends to a large extent on the growth of employment opportunities in all segments. For the simple reason of more money in the hands of people, the spending will increase, bringing every sector including real estate into life. The national unemployment rate and figures of claims on unemployment [...]
The amount of residences in America recaptured by banks, stroke a record high in the second quarter of the present year by putting the quantity of foreclosures on track to strike a record one million by the end of 2010. The reclamation of the banks enlarged 5 percent since the preceding quarter of 2009 and [...]
There were criticisms on the progress of HAMP – Home Affordable Modification Program – devised to lower the monthly payments of troubled borrower-home owners, primarily through interest rate cuts. Both the bailout watchdog committee and Democrats in Congress sustained their criticism and finally The Treasury Department outlined a plan in April that calls for principal [...]
The 2010 National Association of Realtors Member Profile was based on a survey of 58,022 members, which generated 6,830 usable responses. Here are some excerpts: On a survey to assess the business activities of Realtors in US, it is found that 22 percent of respondents also offer commercial brokerage; 21 percent are in relocation; 18 [...]
A recent report issued by New York-based Fitch Ratings, a credit-rating agency, shows that the majority of homeowners that have gone through the loan modification process using the modification program offered by the Obama administration will end up going back into default within 1 year. According to the report, up to 75 percent of loan [...]
The worst is not over yet, but there are signs of foreclosure problem receding – this is how one can surmise the foreclosure activity report for the month of April 2010 released by Realtytrac. In the coming years, millions of American families are likely to lose their homes, once their mortgages adjust. The backlog is [...]
The Federal National Mortgage Association (FNMA), popularly known as Fannie Mae, is a Government Sponsored Enterprise (GSE) and its main business is to purchase and securitize mortgages in real estate, with a view to make available funds to lending institutions for financing home buyers in US, particularly in low and medium income group. Fannie Mae [...]
Economists worldwide are of the unanimous opinion that the current financial crisis and global downturn economy has been triggered by the housing bubble in the US. It is also common knowledge that the housing market in US, as seen by financial experts and market watchers, is yet to recover from its sickness – arising out [...]
Eureka was incredibly patient and assured me that we would close on our contracted close date. Although, we had a few sticking points come up with the short sale, they were right, we closed @ 10am on our contracted close date!! My fellow realtors couldn’t believe that we closed on time…their experiences with short sales have been “nightmares”. Thank you Eureka!
Jonna Juul-Hansen
Pacesetter Properties
