2010 | The REO & Foreclosure Specialist

Fannie’s Losses Narrow to $1.2B, with Taxpayers on the Hook for Less

6. August 2010

By: Carrie Bay Fannie Mae’s second-quarter losses narrowed considerably from the demoralizing financials of the past several years that found the nation’s largest mortgage financier underwater itself in a sea of red ink. The GSE reported late Thursday that it lost $1.2 billion during the second quarter of 2010, compared to a net loss of […]

Housing Markets Becoming Less Saturated with REOs: Reports

5. August 2010

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By: Carrie Bay The nation’s REO stock fell 0.6 percent in May to 524,000 properties, according to analysis released by Barclays Capital. In addition, the research firm estimates that housing’s shadow inventory – which Barclays defines as the supply of homes that are 90 or more days delinquent or in the process of foreclosure, meaning […]

REO Foreclosure: Flushing, NY

4. August 2010

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REO Foreclosure: Flushing, NY 3 bedrooms, 1 full bathroom, 2 half bathrooms Great price at 499,900 Great Buy On This 3 Bedroom With Full Basement New Kit Located On Quiet Block. & Residential Walk To All Lirr & Bus. Near All Shopping & School.. Get a great new property NOW! Talk to one of […]

REO Foreclosure Bay Shore, NY

4. August 2010

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REO Foreclosure Bay Shore, NY 4 bedrooms, 1 bathroom Priced right at 195,000 Super Opportunity To Own This High Ranch Home Offering 4 Bedrooms 1.5Baths Located On Nice Size Property Home Is Located On Quite Dead End Very Private Cul-De-Sac With Bay Shore School’s Get a great new property NOW! Talk to one of our […]

FHA’s Capital Reserves Fall as Agency Prepares for Higher Claims

4. August 2010

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By: Carrie Bay The Federal Housing Administration (FHA) has just $3.5 billion in its ‘capital reserve account,’ according to the agency’s quarterly report submitted to Congress this week. That’s lower than the $3.6 billion reserve balance last November when FHA informed officials that its cash cushion had fallen below the lawfully permitted threshold. The decline […]

Rental: Hempstead, NY | Super apt

3. August 2010

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Rental: Hempstead, NY 1bedroom/ 1 bathroom for 1,000 a month This is a great building located in a very nice area of Hempstead. It is a large one bedroom all brick complex. Tenant will do basic services to get a cut in the rent. Rental Features: Walk in closet Title floor living room Refrigerator […]

Million-Dollar Mortgages Performing in Line with Smaller Loans: Moody’s

3. August 2010

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By: Carrie Bay Mortgage borrowers with balances over $1 million are faring just as poorly, but not worse, than borrowers with lower balances, according to Moody’s Investors Service. According to the New York-based credit rating agency’s data of securitized private-label mortgages, as of June 2010, mortgages originated from 2005 to 2008 are 60 or more […]

Five More Community-Based Lenders Shut Down by Regulators

2. August 2010

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By: Carrie Bay The nation’s failed-bank tally continues to climb. Regulators closed the doors on five more financial institutions over the weekend – two in Florida and one each in Georgia, Oregon, and Washington. That pushes the number of bank closings for the year to 108. In Florida, Port Saint Joe’s Bayside Savings Bank and […]

Fannie Mae’s CEO Lauds ‘New Realism’ of Better Underwriting

30. July 2010

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By: Carrie Bay Fannie Mae is building the “strongest book of business we’ve seen in the last decade,” the GSE’s president and CEO, Michael Williams, proclaimed to a group of industry professionals this week. While tighter underwriting standards may mean fewer consumers are able to get loans and banks are holding credit close to their […]

Report: 75% of Nation’s Top Metros Post Foreclosure Increases

29. July 2010

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By: Carrie Bay A new report published by RealtyTrac Thursday shows that 75 percent of the nation’s largest metro areas posted increases in foreclosure activity during the first half of 2010. RealtyTrac says it’s seeing early signs that foreclosures may have peaked in some hard-hit markets, but with three-quarters of the nation’s most populated metros […]

U.S. Homeownership Rate Falls to Lowest Level Since 1999

28. July 2010

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By: Carrie Bay The nation’s foreclosure crisis and economic pressures, such as rising unemployment, continue to batter the U.S. housing market, as evidenced by the latest figures from the Census Bureau on homeownership rates. Data released by the federal agency Tuesday shows that the U.S. homeownership rate dropped to 66.9 percent during the second quarter […]

Home Prices Tumble in Most Distressed Property Categories in June

27. July 2010

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By: Carrie Bay A drop in homebuyer activity following the contract deadline for the federal tax credit incentive helped trigger a noticeable decline in home prices between May and June, according to an industry study released Monday by the research firm Campbell Surveys. The company’s latest market analysis found that home prices fell in three […]

Amazing colonial in prime area, Massapequa, NY

26. July 2010

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Amazing colonial in prime area, Massapequa, NY 3BR/2BA Single Family House offered at $597,226 This is the deal of the year. This property is one of the nicest colonials you will ever see on the market. It is in the nicest part of long island Massapequa woods section. The house has HUGE bedrooms, Walk […]

Habitat for Humanity Looks to Rehabilitate Foreclosed Homes

26. July 2010

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By: Carrie Bay Habitat for Humanity International and the National Community Stabilization Trust have announced a new national partnership to help turn foreclosed and abandoned houses into affordable Habitat for Humanity homes. Through the Stabilization Trust’s national Property Acquisition Program, the two-year partnership will give Habitat affiliates the opportunity to purchase foreclosed and abandoned properties […]

REO Foreclosure: Briarwood, NY

23. July 2010

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REO Foreclosure: Briarwood, NY THIS Is a REO so you will get a great deal! Terrific buy on this 2 bedroom 2 bath condo unit with terrace. Brand new building! Built in 2006. It has a Fitness Center, A great stylish lobby. LOOKS like a 5-star hotel, secure storage. Get a great new property NOW! […]

Archive | 2010