Real Estate Blog 
I HATE TO TELL YOU I TOLD YOU SO
Friday, August 27th, 2010 at 3:35pm. 10 Views, 0 Comments.
Just a quick update to say as far back as a yearago, "I told you so"
From the "horses mouth" that there was nohousing recovery on the way, in spite off all the bankers, mortgage brokers andwall street pundits (let's not forget our own government) saying they could seethe bottom, or see the light at the end of the tunnel.
Hold on to your money ladies and gentleman, thisride has just started. Unemployment hovering around 10% nation wide,temporary agencies saying they are not hiring, the recent extension ofunemployment benefits AGAIN and the Chair of the Federal Reserve (you knowthat's the PRIVATE) corporation that lends money to the government and all thebanking institutions AT INTEREST is saying they are in the "longhaul" points to another downward…
Trans Union Says delinquency is dropping
Wednesday, August 18th, 2010 at 8:06am. 17 Views, 0 Comments.
The following article is directly from DSnews.com. I am providing it as information only. Although TRANS UNION is reporting a drop in foreclosure REPORTING, I personally think we are about to see "round two" of the another bundle of mortgage failures. It is my PERSONAL OPINION, that the banks have stopped foreclosing on properties so that their books will look good to the FEDS until they can deal with the tidal wave that just hit them over the past two years and have a process in place for short sales, cash for keys and "jingle mail" (when an owner just walks away and mails the keys back to the bank) HERE IS THE VERBATIM ARTICLE:
The national mortgage loan delinquency rate – measuring the ratio of borrowers 60 or more days behind on…
Georgia Foreclosures Jump 31% in May,
Thursday, June 10th, 2010 at 7:36am. 106 Views, 0 Comments.
Georgia takes it's place as the sixth highest in foreclosure rates for the month of May. This marks a jump of 31% over May 2009 and a 1.3% decline from April 2010.
Foreclosures are defined as default notices, scheduled auctions and bank repossessions.
There were 322,920 foreclosure filings, or one for every 400 households, in the United States in May. This was a 0.45 percent rise over May 2009 and a 3.3 percent drop from April 2010.
“The numbers in May continued and confirmed the trends we noticed in April -- overall foreclosure activity leveling off while lenders work through the backlog of distressed properties that have built up over the past 20 months,” said James J. Saccacio, RealtyTrac CEO, in a statement. “Defaults and scheduled auctions…
Atlanta Delinquencies Up - CoreLogic & ATL Business Chronicle
Thursday, June 3rd, 2010 at 1:02pm. 128 Views, 0 Comments.
Metro Atlanta’s house foreclosure rates and mortgage delinquency rates went up from April 2009 to April 2010, but its foreclosure rate was lower than the national average, according to CoreLogic.
The area’s rate of foreclosures among outstanding mortgage loans was 3.06 percent in April, compared 2.09 percent in April 2009.
Foreclosure activity in Atlanta-Sandy Springs-Marietta is lower than the national foreclosure rate of 3.20 percent for April.
Also in metro Atlanta, the mortgage delinquency rate rose. CoreLogic data shows 11.4 percent of mortgage loans were 90 days or more delinquent, compared to 7.1 percent for the same period last year -an increase of 4.4 percentage points.
Georgia’s foreclosure rate from April 2009 to April 2010 rose…
GSEs to Begin Accepting HAFA Short Sales
Wednesday, June 2nd, 2010 at 7:57am. 101 Views, 0 Comments.
Fannie Mae and Freddie Mac both issued new guidelines to servicers Tuesday, which allow homeowners with GSE loans to pursue a short sale or deed-in-lieu of foreclosure if they are unable to secure a modification under the government’s foreclosure prevention program.
When the Treasury’s Home Affordable Foreclosure Alternatives (HAFA) program rolled out in early April, officials explained that the GSEs’ loans were not eligible – an interesting omission considering Fannie and Freddie are operating under full government control and have been positioned as the support columns of the administration’s response to the housing crisis.
The GSEs’ exclusion from HAFA was puzzling to a number of industry experts and a common query posed by our DSNews.com readers. In…
CHASE BANK
Thursday, May 6th, 2010 at 9:46am. 51 Views, 0 Comments.
As part of its ongoing efforts to help homeowners avoid foreclosure, Chase, the consumer and commercial banking
business of New York-based JPMorgan Chase & Co., announced Wednesday that it is hosting multi-day homeowner assistance events exclusively for struggling Chase homeowners in eight major markets across the United States.
These events will take place over the next five months, during which up to 40 Chase counselors will work with homeowners for up to 12 hours a day for four or five days in a central location, such as a civic center or community college. Many of the counselors will also be based in the 51 Chase homeownership centers across the country, which the bank began opening in early 2009 to provide face-to-face counseling to homeowners who…
Bill to overhaul property tax system approved in Georgia
Thursday, April 29th, 2010 at 4:07pm. 68 Views, 0 Comments.
Associated Press - April 29, 2010 1:54 PM ET
ATLANTA (AP) - A wide-ranging overhaul of property taxes in Georgia is headed to Gov. Sonny Perdue.
The measure would require that homes be assessed every year and extends the appeal process from 30 to 45 days. It also requires that all comparable sales - including foreclosures - must be applied when officials set an assessed value.
The measure passed the House Thursday by a 157-1 vote and has already been adopted by the Senate.
Supporters say it's designed to create uniformity in the way homes are taxed and to give homeowners access to more information.
Senate Bill 346: http://www.legis.ga.gov
Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast,…
Fed Keeps Benchmark Interest Rate Near Zero
Thursday, April 29th, 2010 at 9:53am. 48 Views, 0 Comments.
The Federal Reserve voted Wednesday to keep its federal funds rate at 0 to 0.25 percent "for an extended period." The central bank has said since December 2008 that economic conditions call for the benchmark rate to be held exceptionally low, and its board continues to hold true to that stance despite concerns that if the rate doesn't rise, the near-zero level will give rise to inflation Fine any bank owned property for sale at www.gaforeclosure.com and take advantage of this wealth building time not seen since the late 1980's.
4 Million Mortgages Behind
Monday, April 12th, 2010 at 6:04pm. 64 Views, 0 Comments.
In an article in Time Magazine, the estimated number of mortgages that are now 90 days or more late is now surpassing the 4 million mark. Of those, it is expected that by 2.5 million will go into foreclosure and become bank owned by the end of 2010.
The fear of course, is that this will begin to hit the hundreds of thousands of homeowners who are now upside down on their mortgage even worse as the banks attempt to dispose of the assets on their books at dirt cheap prices causing an even greater drop in comparable homes throughout the United States.
FHA Anti-Flipping Rule Suspended
Wednesday, February 10th, 2010 at 9:52am. 165 Views, 0 Comments.
An new FHA rule change could help foreclosure-plagued markets like Las Vegas, Phoenix, Miami, Detroit and Los Angeles, making it easier for investors to “flip” houses to buyers who use FHA-insured loans.
Effective Feb. 1, the federal government will waive for one year an FHA anti-flipping rule that prohibits insuring a mortgage on a home owned by the seller for less than 90 days.
The new rule lets investors buy today and re-sell as quickly as possible. The move is to allow REO homes purchased by investors to resell as quickly as possible, helping stabilize real estate prices and revitalize neighborhoods after the U.S. housing market collapse.
This new rule will open up a new pool of homes to buyers. Waiving the 90-day flip rule is being heralded by…
I HATE TO TELL YOU I TOLD YOU SO
Just a quick update to say as far back as a yearago, "I told you so" From the "horses mouth" that t... Add Comment Read MoreTrans Union Says delinquency is dropping
The following article is directly from DSnews.com. I am providing it as information only. Although TRANS UN... Add Comment Read MoreGeorgia Foreclosures Jump 31% in May,
Georgia takes it's place as the sixth highest in foreclosure rates for the month of May. This marks a jump of 31% over... Add Comment Read MoreWe're always on the lookout for experienced REO agents to join our growing team.
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