Remember the exciting news that the FHA was introducing a pilot program where large bulk purchases of foreclosed homes are going to be sold to investors? They have just extended the deadline for that program by one month. The reason cited in this article from www.housingwire.com is that they are qualifiying bidders. In fact, One private …
During the last 5 years the media has used the terms subprime mortgage, foreclosure, and distressed real estate with such regularity that we now associate them together as a formula. Interestingly enough, we have news from Chicago that a growing number of foreclosures are made up of conventional mortgages that were given prior to the …
The economy in many ways is a self fulfilling prophecy. When people think it is bad, people feel bad and things get worse. The good news is that the opposite is also true. When people feel good about their job and the economy, they spend more money and economic output increases. News according to Gallup …
For all of the ups and downs that the Federal Housing Administration has endured, on the whole, we lean to the side of positive feedback. Having said that… We cannot say we like what they have done to change the rules concerning medical bills. The FHA has changed the rules for calculating the amount of …
Not only is Fitch saying there will be an increase in single family housing starts, but they are predicting a double digit increase. That means there is real strength in the housing market. Builders only build homes when they can make money on them, which also suggests that the prices of homes (taken as an …
Credit quality for consumers is improving, which Sloan said indicates that “the consumer overall is doing a little bit better.” Though the hardest hit are still unemployed, the rest of consumers are “doing OK.” Wells Fargo is the largest lender in the United States and this comment was made by Mr. Sloan who is the CFO …
If you read our blog, you are not surprised that the prices of homes in the United States have been going up steadily. IF ON THE OTHER HAND… You are a person who follows the Case-Shiller Index, this is as big a shock as seeing a unicorn. You are probably saying to yourself, ‘This can’t …
One of the most common questions that we get from people who attend our seminars and the general concern of Canadians is, Have we reached the bottom? It appears that we have our answer from at least one source at Bank of America. For the last quarter of 2011 they anticiated a drop of 8% in …
This is some news that all of you should be happy to hear – the number of new foreclosures fell for the last 3 months of 2011. In fact, The amount of new foreclosures initiated in the fourth quarter fell by 16 percent from the previous quarter and by 17.9 percent from a year earlier, …
