Tax Credit Helps Homes Sales Increase
Home sales increased in March in all four regions of the U.S., led by a 44% increase in the southern states. Demand for existing homes could remain elevated through the end of this month as more first time home buyers try to take advantage of the first time home buyer tax credit which will end [...]
Baltimore Sues Wells Fargo, NAACP Backs Off
The city of Baltimore filed a complaint Wednesday against Wells Fargo & Co. in Federal Court claiming, “Wells Fargo’s discriminatory practices, and the resulting unnecessary foreclosures in the city’s minority neighborhoods, have inflicted significant, direct, and continuing financial harm on Baltimore”. Today the NAACP dropped their lawsuit against Wells Fargo & Co. after working with [...]
Qualifying For The New Foreclosure Relief Program
Last Friday the Obama administration announced their latest plans for helping consumers who are currently in foreclosure or are moving slowly toward the foreclosure process. The following information comes from administration statements and analysis of those plans from Goldman Sachs in New York. Help for the unemployed- Jobless mortgage holders can receive a three month [...]
‘Seasonality Disorder’ In The Housing Market?
Credit research company TransUnion has just released a report that shows mortgage loan delinquencies have increased and are up for the 12th quarter in a row. RealtyTrac predicts the number of foreclosures will increase to three million in 2010. Some experts see this number as conservative. The total unemployment number is also expected to rise [...]
FHA Announces Tighter Restrictions On Lending
This week the Federal Housing Administration announced tighter restrictions will be placed on lending requirements. This is being done in the hope of reducing risks and strengthening the nations’ financial health. FHA Commissioner, David Stevens outlined a set of policy changes that will enable the agency to fulfill its mission to provide access to home [...]
Existing Home Sales Decline
A real-estate industry report released this week showed existing home sales fell in the month of December. According to the National Association of Realtors, existing home sales dropped 16.7% nationally. This is the largest monthly drop on record in 40 years. Existing home sales totaled 5,156,000 in 2009, higher than the previous year by 4.9%. [...]
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