$6 Billion Towards Foreclosures

The Federal Reserve has made $6 billion available for the Neighborhood Stabilization Program, which aims to help minimize the number of foreclosed home on the market. Learn more about the program and buy a house today! Read more

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1. Appraisers Cause Headaches for Home Sellers There is a murmur of complaints being heard from across the nation from home sellers and real estate professionals, ever since the Home Valuation Code of Conduct (HVCC) was introduced. The goal of the Home Valuation Code of Conduct (HVCC) is laudable – which was to prevent coercion in......
2. Having trouble making home loan payments, Tap into Uncle Sam’s Home Affordable Foreclosure Alternative Program (HAFA) The Home Affordable Foreclosure Alternatives (HAFA) Program provides additional options to avoid costly foreclosures and offers incentives to borrowers, servicers and investors who utilize a short sale or deed-in-lieu (DIL) to avoid foreclosures. HAFA alternatives are available to all HAMP-eligible borrowers who: 1) do not qualify for a Trial Period......
3. Top 5 Foreclosure Cities Ranking Change as Foreclosures Slowdown Year over year foreclosures declined 20%. Even though the foreclosure numbers have decreased in November, 76,701 houses were still repossessed as compared to 77,077 in October. The number of real estate properties taken back by banks and financial institutions in 2009 has reached 777,630. Foreclosures are occurring the most in......
4. Pent up Foreclosures Huge Opportunity to Buy Undervalued Real Estate RealtyTrac reports that $134 billion in adjustable rate mortages will be resetting to higher interest rates over the next two years. Foreclosure filings rose 23% nationwide in the quarter as compared to the same quarter a year ago. Sequentially the increase was 5% compared to second quarter of this year.......
5. Residential Mortgage lenders riding increased refinancing wave Spurred by historically low interest rates and the Federal Reserve Bank purchasing $1.25 trillion in mortgage-backed securities, the number of refinances in America is expected to more than double in 2009 compared to 2008. This spring, mortgage rates hovered just below 5 percent, and that’s prompted three times as many......

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This entry was posted on Monday, July 20th, 2009 at 11:58 am and is filed under Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed.