Lawrenceville
Real Estate Listings
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Lawrenceville
Real Estate News and Questions
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Only a tiny percentage of troubled homeowners have received permanent modifications under President Obama's Home Affordable Modification Program (HAMP), raising concerns about the effectiveness of the $75 billion effort. Fewer than 5% of the trial modifications on loans owned or guaranteed by Freddie Mac were converted to long-term adjustments as
(4 comments)
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In a lead story, the Wall Street Journal (WSJ) paints a dismal picture of the housing market in 2010. Uncertainty over the extension of a home-buyer tax credit sent new-home starts in October crashing down a full 10.6% from September, and starts of single-family houses fell 6.8%. That's the lowest level
(3 comments)
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Mortgage rates at record lows
Freddie Macs weekly survey of average interest rates put the 30-year fixed-rate mortgage (FRM) at 4.83% with an average 0.7 points for the week ending Nov. 12, down from the average rate of 4.91% the previous week. Thats a mere 5 basis points shy of Freddie
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Why are foreclosures up?
Jay Brinkmann, MBAs Chief Economist, says it's jobs. Despite the recession ending in mid-summer, the decline in mortgage performance continues. Job losses continue to increase and drive up delinquencies and foreclosures because mortgages are paid with paychecks, not percentage point increases in GDP. Over the last year,
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Foreclosures hit record highs
According to the Mortgage Bankers Associations (MBA) National Delinquency Survey, the delinquency rate for mortgage loans on one-to-four-unit residential properties rose to a seasonally adjusted rate of 9.64% of all loans outstanding as of the end of the third quarter of 2009, up 40 basis points from
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Thank you Sesame Street.. and Happy 40th Birthday.
Oh all the firends that lived on my street when I was growing up, there was Grandpa Mudcat, Grandmama Bear,Hero Guy,Kermit the Frog(to be a freind to all),Wally and Ralph,Baby Bear,Bertand Ernie(best friends for life no matter what) ,Big Bird(alwasy ready to learn),Cookie
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Cash for Clunkers is over, but the opportunity to cash in continues.A new tax credit promises to pay you handsomely for a buying a vehicle some say only sees time on a golf course. Nicknamed "Cash for Clubbers" by critics,the new plan causing protesters and profiteers to move quickly
It sits
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Cash for Clunkers cost $24,000 per car
An analysis released yesterday by the automotive Web site Edmunds.com has tallied up the taxpayer bill for the Cash for Clunkers program, and it comes in at a whopping $24,ooo per car with very little to show for it. In fact, only 125,000 of
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YES or I should say a soon to be a YES
Here is what USA Today had to say about today's announcements:
"Senators agreed to extend the existing tax credit for first-time homebuyers while offering a reduced credit of up to $6,500 to repeat buyers who have owned their current homes
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Now comesa post this morning from the mortgage chatline from someone who apparently has some very detailed information. I will quote it verbatum, again with the understanding that this has not been confirmed but somewhat reliable:
"The Home Buyer tax credit has apparently been extended, and eligibility expanded to include some
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Senate Close to Deal Replacing Homebuyer Tax Credit
Oct. 27 (Bloomberg) -- U.S. Senate leaders moved closer to an agreement replacing an expiring $8,000 tax credit for first- time homebuyers with a smaller one that would expand access to so-called step-up purchasers, two people familiar with the matter said.
The deal
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Reverse mortgages have hidden dangers
Panelists at the Information Management Networks 15th annual ABS East gathering in Miami Beach conference said that in the last two years reverse mortgages have moved beyond the needs-based senior and now see a significant mix of borrowers tapping into the market. This year alone,
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Fannie Mae announces relief for investors
Fannie Mae announced that its new Payment Reduction Plan (PRP) will provide forbearance for borrowers who are ineligible for the Home Affordable Modification Program (HAMP). The mortgage principal and interest payments will be reduced by up to 30% for borrowers qualified for PRP, which
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Home prices rise - Case-Shiller
The Standard & Poor's/Case-Shiller home price index of 20 major cities climbed 1 percent from July to a seasonally adjusted reading of 144.5. While prices are down 11.4 percent from August a year ago, the annual declines have slowed since February. It shows a widespread
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Freddie Mac announced today that its mortgage investment portfolio grew by an annualized 7.3 percent rate in September, while delinquencies on loans it guarantees accelerated. The portfolio increased to $784.2 billion, for an annualized 3.4 percent decrease year to date, and delinquencies, which increase stress on the company's capital, jumped to
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2010 is shaping up for a weak recoveryThe Federal Reserve is in no rush to pull back its extensive economic life support measures. Chicago Federal Reserve President Charles Evans said: We have to think about our exit policy and are looking at it very carefully, but at the moment, that's not
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If theres another real estate collapse on the way, its in commercial real estate, and the FDIC closing Chicago's Corus Bank last month may have signaled the beginning of it. Corus, whose balance sheet full of bad construction loans, was just one of many banks that have this type of debt
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American United Bank of Lawrenceville, GA was closed this evening making it the 101st US bank failure of 2009 andthe 20th in GA bank to fail this year. Georgia leadsthe nation in Bank failures, and 2009 marks the most bank failures seen in the US since 1992. American United Bank of
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This report lead one to think it is more real than o=anyine want to let out of the bag.
RBS says 2.7 million more distressed sales in pipeline
Royal Bank of Scotland (RBS) economists say that recent months of nascent housing recovery remain overshadowed by the delinquency pipeline that threatens to
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The Obama administration announced another initiative to aid state and local housing finance agencies in providing mortgages to first-time and lower-income homebuyers and to assist in the development or rehabilitation of rental properties. Officials declined to put a price tag on the program, but said there would be no cost to
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Housing starts lower than expected
The Commerce Department announced today that Housing starts increased to a seasonally-adjusted annual rate of 590,000 last month, up 0.5% above a revised 587,000 in October, but down 28.2% from September 2008, and less than the 610,000 forecast by Briefing.com. New construction of single-family homes, the
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Housing: How Strong a Recovery?
The U.S. housing slump is levelling off, but whether it grows into a lasting recovery will depend on how heavily the housing market is leaning on the government's crutches, and how long Washington is willing to keep those supports in place. Barclays Capital economist Michelle Meyer
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$8000 Tax Credit extension likely?
CNBC insider reports maybe YES
Diana Olick, CNBCs Real Estate Reporter, thinks the administration is going to extend the $8000 Home Buyers Credit. I was on the fence for a while as to whether Congress would extend the $8000 first time home buyer tax credit and
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No to Interest-Only Mods
The Mortgage Investors Coalition, a trade group of asset managers holding more than $100bn in residential mortgage-backed securitizations (RMBS) on behalf of pension funds, college endowments, and other investors, is calling on the Treasury Department to reject a proposal to offer distressed borrowers interest-only payments for a
(1 comments)
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