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CMBS Delinquencies Hit New All-Time High
Overdue loans in pools of commercial mortgage-backed securities (CMBS) continue to mount. With each passing month, CMBS delinquency rates jump to another record high – and April held true to form. The delinquency rate for commercial real estate loans in CMBS climbed higher still last month, although the rate of increase slowed from March’s breakneck […]
Continue reading...Lenders Slow to Sift Through Distressed Commercial Loans: Real Capital
3. May 2010
Only 10 percent of the $41 billion of distressed commercial real estate from a year ago has been resolved and is no longer held by the lender, according to data released this week by the research firm Real Capital Analytics. The company’s analysis includes only seasoned distress for which sufficient time has passed for lenders […]
Continue reading...House Bill Would Allow Those Facing Foreclosure to Stay on as Renters
30. April 2010
Two House Democrats have introduced a bill to create a “right to rent” for homeowners facing foreclosure. The bill, sponsored by Rep. Raúl M. Grijalva (D-Arizona) and Rep. Marcy Kaptur (D-Ohio), would allow a family receiving a foreclosure notice to petition a judge to stay in their home as renters under a 5-year lease. The […]
Continue reading...Foreclosures rise again despite best efforts
30. April 2010
Business First of Columbus – by Kevin Kemper Homeownership in Central Ohio has continued its dramatic erosion this year as another wave of foreclosures washes over the region. Despite the improving economy and the best efforts of homeowner-assistance programs, 3,714 foreclosure lawsuits were filed in the eight-county Columbus region in the first quarter, up 5.4 […]
Continue reading...Tax Credit Expiration Unlikely to Deter Homebuyers: Study
29. April 2010
By: Brittany Dunn Only time will tell how the residential real estate market will be affected by the expiration of the homebuyer tax credits, but a survey released Wednesday by Prudential Real Estate and Relocation Services, Inc., found that the sunset of these incentives is unlikely to deter future purchase activity. While more than 90 […]
Continue reading...Experts say waiver of FHA anti-flipping rule has had little effect on the market
28. April 2010
By: Karen Goldberg Goff Special to the Washington Examiner April 28, 2010 A government decision to temporarily suspend rules that prohibit using Federal Housing Administration financing to buy a house a seller has owned for less than 90 days has had little effect on the market, area real estate experts said. To boost sales in […]
Continue reading...Short Sales…A Breeding Ground for Fraud?
26. April 2010
By: Carrie Bay With defaults continuing to mount and declining property values still widespread, the industry is seeing an increase in short sales. Such transactions are expected to burgeon even further now that the federal government has implemented its Home Affordable Foreclosure Alternatives (HAFA) program. Under HAFA, servicers participating in the administration’s foreclosure prevention effort […]
Continue reading...23 Tips for Keeping the House Cool
23. April 2010
23 Tips for Keeping the House Cool a Care2 favorite by Annie B. Bond Adapted from Consumer Guide to Home Energy Savings, by Alex Wilson, Jennifer Thorne, and John Morrill. Puzzling out how to keep your house as cool as possible during these hot summer months? Trying to remember the conventional wisdom but not quite […]
Continue reading...Mortgage Investors Say Big Banks Need to Modify Second Mortgages
23. April 2010
In response to the notable first quarter profits recently reported by Bank of America, Citigroup, JPMorgan Chase & Co., and Wells Fargo, the Association of Mortgage Investors (AMI) released a statement saying these four banks need to stop shifting their mortgage losses to private investors and confront their conflicts of interest. The association said the […]
Continue reading...NeighborWorks Awards $59.5 Million for Foreclosure Counseling
21. April 2010
Just four months after the fourth round of National Foreclosure Mitigation Counseling (NFMC) Program funds were appropriated, $59.5 million has been awarded to 35 state housing financing agencies (HFAs), 15 HUD-approved housing counseling intermediaries, and 81 community-based NeighborWorks organizations to provide counseling to homeowners facing foreclosure, according to a recent announcement by Washington, D.C.-based NeighborWorks […]
Continue reading...First-Time Homebuyers Drive Housing Market in March: Report
20. April 2010
First-time homebuyers accounted for a record-high share of purchases last month, according to new data released this week by Campbell Surveys. The results aren’t entirely unexpected, considering the April 30 contract deadline to receive the federal homebuyer tax credit is fast approaching. The momentum from the tax break is likely to continue into this month, […]
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4. May 2010
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