negative equity

Not An Easy Task

Today’s News Synopsis: 10 Things you need to know when buying a “Hoarder House.”  Freddie Mac reported mortgage rates dropped for the first time in weeks with 30-year rates now at 4.75% and 15-year rates at 4.21%.  Home flips decreased 12% in the third quarter to their lowest in 3.5 years. In The News: CoreLogic – …

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Attom Data: Homes in Higher Risk Areas Have More Equity and Longer Tenures.

Today’s News Synopsis: Home prices are rising faster in high natural disaster risk areas.  According to the latest home equity analysis from CoreLogic, the number of homes with a mortgage that is still in negative equity is 2.8 million.  The Federal Reserve has plans to start shrinking their bond portfolio by selling off bonds, although …

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NAHB Reports One Point Decrease in Builder Confidence

Today’s News Synopsis:   The Mortgage Bankers Association reported a 1.4% increase in commercial/multifamily mortgage debt by commercial banks.  The NAHB reported a one point decrease in builder confidence, putting it now at 61.  A new rule was recently proposed by the FHFA that would require mortgages be offered by the GSEs that normally are …

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Time Allowed for Foreclosure Proceedings Extended By Fannie Mae in 33 States

  Today’s News Synopsis:   With the increase in mortgage lending, organizations not associated with banks are having more regulations placed on them, both consumer and financial.  The amount of time a foreclosure can be completed was just extended by Fannie Mae in 33 states.  The amount of mortgage credit available increased last month according …

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4 Million Borrowers In Danger of being Underwater

      Sources: CoreLogic: Distressed sales accounted for 12% of home sales in March 2015 Completed Foreclosures Decline But Remain at Double Pre-Recession Levels Four Metro Areas Account For 10 Percent of Nation’s Completed Foreclosures Mortgage Applications Increase in Latest MBA Weekly Survey Applications for New Home Purchases Decreased in May Spread between mortgage …

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The Norris Group Real Estate News Roundup 6/12/13

Today’s News Synopsis: Negative equity showed signs of decrease this week as the number of borrowers in this category decreased to below 20%.  According to the Mortgage Bankers Association, mortgage applications increased 5% from last week.  California is in the lead for the state with the greatest mortgage fraud risk. In The News: DS News …

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The Norris Group Real Estate News Roundup 1/31/13

Today’s News Synopsis: Freddie Mac reported mortgage rates increased for the second week in a row, with 30-year rates now at 3.353%, their highest in four months.  The Lender Processing Services reported trends in delinquencies, which increased 0.7% month-over-month in December, foreclosure starts up from 4.8%, and negative equity.  The FHA announced yesterday that they …

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The Norris Group Real Estate News Roundup 9/12/12

Today’s News Synopsis: In a big news story, CoreLogic reported increasing home prices are bringing more and more underwater borrowers out of debt.  Mortgage applications increased last week by 11.1% according to the Mortgage Bankers Association.  The Federal Housing Administration Fiscal Solvency Act was passed by the House, a bill that would increase funding for …

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