The Experts You Can Trust
When the going gets tough, walking away may be the option for some. Strategic defaults are rising, not only among deadbeat homeowners, but also among the credit savvy borrowers, Jon Maddux, CEO of YouWalkAway, wrote in the December 2011 issue of the Foreclosure News Report, a monthly newsletter published by RealtyTrac. “I don’t feel strategic …
The Mortgage Bankers Association (MBA) reported that mortgage applications surge amid record-low rates. In a press statement released last Wednesday, MBA said that mortgage applications increased 23.1 percent from one week earlier. Freddie Mac Senior Vice President Paul Mullings, in his blog, wrote, “Mortgage rates are at 50-year lows – the 30-year fixed-rate mortgage averaged …
In a white paper entitled “The U.S. Housing Market: Current Conditions and Policy Considerations” that was released last week, Federal Reserve Board calls for alternatives to foreclosures. “While the total stock of REO properties is difficult to measure precisely, perhaps one-fourth of the 2 million vacant homes for sale in the second quarter of 2011 …
Federal Reserve Board Pushes for Foreclosure Alternatives Read More »
There is lots of talk and thoughts and ideas on how to turn the US housing market around. It is a complicated issue with lots of moving parts. Some of them like the robosigning issue has us all just sitting and waiting to see what will happen. It’s been a year on that one and …