Mortgage Relief for Unemployed Secures Place in Financial Reform - 06/28/10 06:35 PM
The landmark financial reform legislation approved by a cross-chamber committee of House and Senate leaders on Friday includes a provision which offers a remedy to the growing number of unemployed homeowners who are facing foreclosure.The amendment, crafted by Rep. Chaka Fattah (D-Pennsylvania), provides $1 billion to ensure homeowners who’ve lost their jobs don’t lapse on mortgage payments. That’s pared down from previous reform bill installments, which called for $3 billion.Under the program, qualified homeowners will be able to borrow up to $50,000 to assist them with monthly payments, provided they have “a reasonable prospect” of resuming mortgage payments within 24 months.“Americans … (0 comments)

Regulators Point to Improving Loan Performance Across-the-Board - 06/28/10 06:31 PM
Performance of home mortgages serviced by the largest national banks and federally regulated thrifts improved earlier this year, for the first time in more than 24 months.According to a report released Wednesday by the Office of the Comptroller of the Currency (OCC) and the Office of Thrift Supervision (OTS), home loan delinquency rates dropped during the first quarter of 2010, with improvements in all categories – prime, Alt-A, and subprime.Mortgages in all stages of pre-foreclosure delinquency improved during the three-month period. Serious delinquencies declined to 6.5 percent of the portfolio, down 7.7 percent from the previous quarter. Loans 30 to 59 … (0 comments)

Freddie Mac's Mortgage Holdings Shrink, Delinquencies Remain Flat - 06/28/10 06:28 PM
Mortgage giant Freddie Mae reduced the size of its mortgage portfolio in May, while the delinquency rate of single-family home loans it guarantees stood unchanged from the previous month.According to the McLean, Virgina-based GSE’s monthly summary report released Friday, its total mortgage portfolio decreased at an annualized rate of 4 percent last month. The drop can be largely attributed to the company’s purchases of home loans it had sold to investors that were 120 or more days past due.In February, Freddie announced that it would buy back all seriously delinquent loans held by its securities investors – a move prompted by … (0 comments)

Four Housing Market Myths - 06/22/10 08:26 AM
After several years of housing depreciation, the one thing that seems to be on everyone’s mind is, “when will this housing recession end?” and “when will my house start gaining value again?” This eagerness by homeowners to get the housing market back on track has spawned several misconceptions about the housing market.To help homeowners set reasonable expectations for the housing market in the coming years, Zillow’s Chief Economist, Dr. Stan Humphries presented “Four Myths of the Housing Market” alongside Doug Duncan, chief economist for Fannie Mae and Bob Bach, chief economist for Grubb & Ellis at the recent National Association of … (0 comments)

Consumer Confidence Fueling Regional Home Price Increases - 06/20/10 11:14 AM
Public optimism that a sustainable economic recovery is underway has driven up home prices in many regional markets, according to Fiserv, Inc.The Wisconsin-based financial services firm released its analysis of home price trends Monday, covering 384 U.S. metro areas and based on the closely-watched Fiserv Case-Shiller Indexes.The company’s analysts found that in the fourth quarter of 2009, U.S. home prices were trending up in 40 percent of the metros studied, including markets in California, Ohio, Michigan, and Washington, D.C.“More and more, consumers have confidence that buying a home doesn’t mean catching a falling knife,” said David Stiff, chief economist at Fiserv. … (0 comments)

Penalties for Strategic Defaulters Sought - 06/20/10 12:03 AM
Tumbling property values have left nearly a quarter of borrowers owing more on their mortgage than the home is worth, and recent studies have shown that when underwater, more and more of these homeowners are opting to walk away from their loan obligation even if they can afford to make the payments.This idea of “strategic default” has become a universal concern within the industry, particularly since the social stigma attached to foreclosure has changed so dramatically in the aftermath of the housing crisis.While defaulting strategically is not as frowned upon by the general public as it used to be, there are … (6 comments)

Title Insurance Premiums Jump 4.3% in the First Quarter of 2010 - 06/19/10 11:57 PM
Title insurance premiums written during the first quarter of 2010 inched up 4.3 percent when compared to the same quarter last year, the American Land Title Association (ALTA) recently reported.According to ALTA’s preliminary Market Share Analysis, the title insurance industry generated $2.07 billion in title insurance premiums during the first quarter of this year, up from $1.98 billion during the first quarter of 2009.“While the housing market is still in the sickbed, its vital signs are stabilizing,” said Kurt Pfotenhauer, CEO ofWashington, D.C.-based ALTA. “With transactions still being closed from the homebuyer tax credit, we are hopeful positive trends will carry … (2 comments)

AUCTION: Wentzville MO 3 BR House 5.36 Acres June 25 Agent Cooperation - 06/17/10 10:36 PM
This charming 3BR, 2B, Split Foyer Frame Home with approximately 1976 square feet and a 2-Car Attached Garage set on 5.36 beautiful acres located at 1990 S. Pointe Prairie Road in Wentzville, MO will be SOLD to the Highest Bidder at Real Estate Auction on Friday, June 25, 2010 at 1:00 PM CDT subject to Seller Confirmation. The Home will be sold "As Is, Where Is and With All Faults". MLS Listing Nominal Opening Bid.
1990 S. Pointe Prairie Road, Wentzville, MO 63385
… (1 comments)

Economy adds 431K jobs - 06/04/10 11:03 AM
Job creation by private companies grew at the slowest pace since the start of the year, as a wave of census hiring lifted payrolls by 431,000 in May. The unemployment rate dipped to 9.7 percent as people gave up searching for work.The Labor Department's new employment snapshot released Friday suggested that outside of the burst of hiring of temporary census workers by the federal government many private employers are wary of bulking up their work forces.That indicates the economic recovery may not bring relief fast enough for millions of Americans who are unemployed.Virtually all the job creation in May came from … (0 comments)

 
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Real Estate Auctions St. Louis MO Paul Roesch, Realtor, CAI, AARE, CDPE

Real Estate Auctions St. Louis MO

Saint Louis, MO

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FatherTime® Auctions, Real Estate and Estate Auctioneers

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Father Time Auctioneers sell real estate assets fast and economically. We auction household, estate, real estate and downsizing auctions. Brokers and agents encouraged for referral of sellers and buyers. We cooperate-earn commission with Father Time Auctions and Real Estate 314-962-4200 www fathertime.com Paul Roesch cell: 618-407-8479


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