Bridge Demolition Work in Los Angelels - 05/31/11 11:09 PM
  Extended 53-Hour Closure of I-405 Freeway Between U.S. 101 and I-10 Planned in Mid-July for Mulholland Los Angeles, Calif. - Plan Ahead, Avoid The Area, Or Stay Home. That's the message public safety officials are sending to the public in anticipation of a planned 10-mile, 53-hour closure of the I-405 freeway between the U.S. 101 and I-10 on the weekend of July 16-17, 2011 for planned demolition work on the Mulholland Bridge, part of a major I-405 improvement project.
The Los Angeles Police Department, Los Angeles Fire Department, California Highway Patrol, Los Angeles Department of Transportation, Metro and Caltrans are informing the … (0 comments)

Mortgage News - 05/23/11 09:57 PM
A quarterly release from the Mortgage Bankers Association revealed that mortgage payment problems eased during the first three months of 2011 for every category of default. The rate of loans past due, unadjusted for seasonal factors, decreased 1.17 percentage points to 7.79% from 8.96% during the last quarter of 2010. It was down 1.59 points year-over-year.. "These numbers point to a mortgage market on the mend," said Jay Brinkmann, MBA's chief economist. "Foreclosure starts are at the lowest level since the end of 2008 and had the second largest drop ever. The percentage of loans somewhere in foreclosure is down from … (0 comments)

Mortgage Rates Slide to the lowest levels of the Year - 05/16/11 05:07 PM
Mortgage rates slide to lowest levels of year so far Fixed mortgage rates have fallen to their lowest levels of the year, giving Americans more incentive to buy homes or refinance their loans. On cusp of peak buying season, 30-year loan drops to 4.63% Freddie Macsaid Thursday the average rate on the 30-year loan fell to 4.63 percent from 4.71. The average rate on the 15-year fixed mortgage slipped to 3.82 percent from 3.89 percent. Both are at their lowest points since December. It marked the fourth straight weekly decline. Rates track the yield on the 10-year Treasury note, which fell … (0 comments)

Sales showing signs of life - 05/09/11 10:11 PM
The combination of new and existing home sales in April 2011 increased from the pace in March 2011 and was significantly above the pace of April 2010. New and existing home sales were at an annual rate of 5.278 million in April 2011 versus 5.085 million in March 2011. However unit sales were down 5.7 percent from April 2010 when the first impacts of the Federal tax credit for first time homebuyers was kicking in. Surprisingly, the average price of new and existing homes sold in April 2011 was up 2.4 percent from the average price in April 2010. The price … (1 comments)

Bank of America Said to Target Individual States to Block Foreclosure Deal - 05/03/11 05:37 AM
Bank of America Corp (BAC) was accused by a top official at the Iowa attorney general’s office of engaging in a divide-and-conquer strategy by undermining support for the settlement of a nationwide probe into foreclosure practices, a person familiar with the matter said.
The bank tried to get attorneys general to break away from those supporting the proposed accord, Iowa Assistant Attorney General Patrick Madigan said during a recent conference call, according to the person. A second person familiar with the settlement talks said the bank sought to sow dissent among the states, eight of which have publicly criticized the proposal’s … (0 comments)