Today’s News Synopsis:
Two more banks closed in North Carolina and Georgia, bringing the new total for this year to 10. Pending sales for existing homes increased 1.5% last month after having seen a 1% decrease the prior month. New Jersey received funding of $1.83 billion to go towards rebuilding from Hurricane Sandy.
In The News:
Housing Wire – “Payouts to borrowers harmed by Goldman, Morgan Stanley set to begin” (4-29-13)
“Borrowers potentially harmed by foreclosures initiated by Goldman Sachs through its former Litton Loan Servicing subsidiary and Morgan Stanley through Saxon Mortgage Services will be compensated for their losses in the near future, the Federal Reserve said Monday.”
DS News – “Bank Failure Tally Rises to 10 After Two Weekend Closings” (4-29-13)
“This year’s bank failure tally rose to double digits over the weekend with the collapse of two more federally insured institutions. FDIC announced the closing of Parkway Bank in Lenoir, North Carolina, and Douglas County Bank in Douglasville, Georgia, bringing the total number of bank closings this year to 10”
Bloomberg – “Pending Sales of Existing Homes in U.S. Climbed 1.5% in March” (4-29-13)
“More Americans than forecast signed contracts in March to buy previously owned homes, another indication of progress in the housing market.”
CNN Money – “For the unemployed, no reprieve on budget cuts” (4-29-13)
“Starting this week, many in California collecting federal unemployment benefits will get about 17.7% less than they got last week, thanks to Washington’s across-the-board budget cuts.”
DS News – “New Jersey Plan to Rebuild After Sandy Receives $1.83B” (4-29-13)
“New Jersey received approval and funding totaling $1.83 billion for its disaster recovery plan that will help homeowners and businesses rebuild after Hurricane Sandy, HUD Secretary Shaun Donovan announced in a release Monday. The funds were from the department’s Community Development Block Grant (CDBG) Program.”
Realty Times – “Prevention Programs to Consider to Help Keep Your Property from Becoming a Crime Statistic” (4-29-13)
“Most property managers and owners have probably at least heard of the Crime Free Multi-Housing Association, started in Mesa Arizona, by the Mesa Police Department in 1992.”
Housing Wire – “Investors face new housing era obstacles” (4-29-13)
“In this new era, trading mortgages has been challenging over the past year for investors due to a number of reasons.”
DS News – “Slow Wage Growth Holds Down March Personal Income” (4-29-13)
“Restrained by slow wage growth, personal income rose a disappointing $30.9 billion (0.2 percent) in March—half of what economists expected—as spending rose $21.0 billion or 0.2 percent, the Bureau of Economic Analysis, reported Monday.”
Hard Money Loan Closed
Lancaster, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $64,000 on a 3 bedroom, 2 bathroom home appraised for $108,000.
Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived with FIBI OC on Tuesday, May 7, 2013.
Bruce Norris of The Norris Group will be presenting Poised to Pop: Quadrant Four Has Arrived with Asian REIA on Wednesday, May 15, 2013.
Bruce Norris of The Norris Group will be presenting Poised to Pop: Quadrant Four Has Arrived with TIGAR on Thursday, May 16, 2013.
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 6pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.