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foreclosure: Overhaul of Fannie and Freddie WILL have Broader Consequences in The Housing Market - 01/24/11 07:29 PM
The United States Treasury faces a deadline at the end of the month, set by the Dodd-Frank financial overhaul legislation, at which time it needs to have issued a report on Fannie and Freddie and make recommendations on the future of the two organizations.
In 2008, at the height of the recession and financial collapse, the government took control of the two beleagured giants, which own or guarantee between 50-60% of the total mortgage market in America, a number well into the trillions of dollars.
While the White House has not yet commented on a course of action it announced on … (2 comments)
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foreclosure: Residential Construction Figures for December 2010 - 01/19/11 08:59 PM
The BEA released residential construction data today.
Building permits in December were up 16.7 percent from November but down 6.8 percent compared to December 2009.
Housing starts in December 2010 were down 4.3 percent from November and 8.2 percent below December 2009.
Some reports list the inclement weather, particularly in the Northeast and Northwest, as reason for permits being filed but houses not being built.
Still, the starts number was at a level of 529,000, which is more than 100,000 units less than the filed permits. I believe the problem runs deeper than just inclement weather, attributing some of … (0 comments)
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foreclosure: A Primer on Banks and Real Estate Lending - 01/17/11 09:47 AM
When you need to borrow money where do you turn? If you are like most people your first option is probably a bank, but with so many choices, it can be hard to know which bank is the right one for you. The first banks were purely depository institutions; accepting money, keeping it safe, and returning a modest rate of interest. Today, there are more than a dozen types of banks among thousands of branches, each performing an essential function for the financial community ranging from community savings to business banking to construction lending and everything in between. The largest and … (3 comments)
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Craig Grella
Nashville,
TN
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CreativeREO
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