Today’s News Synopsis:
In The News:
DS News – “Non-Foreclosure Solution Totals Are Piling Up” (1-27-16)
“While foreclosure continue to steadily decline, the number of foreclosure alternatives completed is adding up, and the industry completed another 99,000 foreclosure prevention actions in November 2015, according to data released by HOPE NOW on Wednesday.”
Mortgage Professional America – “Morning Briefing: Drop in underwater properties says RealtyTrac” (1-28-16)
“The proportion of seriously underwater properties was 11.5 per cent at the end of 2015 according to new data from RealtyTrac, a drop from the previous year.”
Housing Wire – “Freddie Mac: Mortgage rates drop four consecutive weeks” (1-28-16)
“Mortgage rates once again moved lower amid continuous market turmoil, the latest Freddie Mac Primary Mortgage Market Survey said.”
Mortgage Professional America – “Fed reveals potential future rate direction” (1-28-16)
“The Federal Reserve kept U.S. interest rates unchanged Wednesday, but hinted at potential future policy. The central bank hinted at future rate changes in its economic policy announcement.”
Bloomberg – “Pending Sales of Existing Homes in U.S. Rise Less Than Forecast” (1-28-16)
“Contracts to purchase previously owned U.S. homes rose less than forecast in December, indicating more tempered progress in residential real estate early this year.”
Mortgage Professional America – “Record housing costs at three U.S. cities” (1-28-16)
“Three U.S. cities—namely, Dallas, TX; Denver, CO; and Portland, OR—are now at record-breaking highs, according to the results of a recent survey.”
DS News – “Ocwen and the City of Milwaukee Combine to Fight Effects of Foreclosure” (1-28-16)
“Ocwen Financial Corporation and the City of Milwaukee have announced an initiative to provide substantial assistance to homeowners in Milwaukee who want to keep and repair their homes, according to an announcement from Ocwen.”
Mortgage Professional America – “Companies keying on customer relationships” (1-28-16)
“Companies are creating specialized divisions and handpicking qualified people to lead their customer relationship business, understanding that the new battleground for client loyalty is being fought and won here.”
Hard Money Loan Closed
Compton hard money loan closed. Real estate investor received loan for $210,000 on this single family property appraised for $337,000.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with Orange County FIBI on Tuesday, February 2.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with SDIC FIBI on Thursday, February 4.
Bruce Norris will be presenting Cashing in on a Boom: Investing in Quadrant 4 with Bruce Norris in Riverside on Saturday, February 6.
Image copyright source: www.flickr.com/photos/tgerus
In an update from Mel Watt’s meeting before the Congress, he stated he was in support of 3% down mortgage payments as well as increased access to credit. The Mortgage Bankers Association reported mortgage applications decreased 3.2% from the previous week. More and more homeowners were choosing to live in suburban neighborhoods.
For more information about The Norris Group’s California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor calendar. You’ll also find our award-winning real estate radio show on KTIE 590am at 6 pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.