The latest report issued by the National Association of Realtors (NAR) highlights that sales of previously owned homes fell back 0.8% in April, while distressed homes – REOs and short sales – accounted only 37% of total sales volume. This is a 3% decline from March”s 40%, while the average percentage of the first quarter [...]
The ostentatious reason for the introduction of the latest “Short Finance” Program is helping out underwater home owners, by converting their mortgages into loans backed by the Federal Housing Administration. While doing so, the mortgage servicers have to agree for reducing the loan balance by at least 10 percent. But there are innumerable hurdles this [...]
Real Estate is the playing ground for investors for profits – more than any field. And it is not a secret that U.S. real estate is reeling under the pressure of depression. We are not talking here about a home owner ardently searching for a home for their family to reside, although they too stand [...]
When the foreclosure problem is thickening by delinquencies of financially down home owners, there is also another phenomenon springing up recently. Those borrower-home owners, who can well-afford to pay the mortgage payments are refraining from doing so, on their own accord. These defaults are known as “Strategic Defaults” and are causing concern to the mortgage [...]
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 [...]
Foreclosure crisis; economic down-turn; uncertainty of the market trend; and financial crunch – all these are the minus points of housing markets in US today. Yet the latest Survey conducted by Move Inc. among prospective American home buyers, shows that interest in real estate as an investment has more than tripled in the last year. [...]
The foreclosure crisis has culminated into many social problems, including dishonesty and throwing ethical standards to the winds. Instances of many underwater borrower-house owners just leaving the lending bank in the lurch, by simply stopping payment and dare their lenders to do what they can – have come to light. The latest news story pertains [...]
When the Home Affordable Mortgage Program was announced last year and after studying the features of the foreclosure mitigation plans of the Obama administration, experts voiced their concern that the program would at best slow down the foreclosure activity and would not bring forth avoidance of severe economic strain to the US economy. After a [...]
A latest report by government auditors has confessed that more than 75 percent of home owners, who went in for loan modifications and reduced monthly mortgage payments, owe more on their mortgage loan, than their homes are worth. Citing February statistics, the report says over 50 percent of an estimated 170,000 distressed borrower-home owners are [...]
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 [...]
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
