mortgage: North Carolina's Governor Signs 3 Foreclosure Bills
- 09/23/08 01:22 AM
In light of recent soaring foreclosure filings in North Carolina - 24% from June 2008 and 125% from July, 2007 - Governor Mike Easley signed a bill to offer relief to homeowners and banks alike. The North Carolina Foreclosure Prevention Project requires that both homeowners and the state's bank commissioner must receive 45 days notice before a foreclosure is filed and also allows the bank commissioner to extend any foreclosure filing notice by 30 days. During this time, the state would negotiate with the homeowner and mortgage holder on their loan interest rate and payments. Easley estimates that that the law could help … (2 comments)
mortgage: Wake County, North Carolina 2008 Second Quarter Market Update
- 09/16/08 03:35 AM
I think it is critical to monitor the local real estate market and to provide updated market statistics/information to the public. I provide these market updates throughout the year, based on information supplied to me by Stacey Andfinsen at Birch Appraisals. Click here to see my first quarter market update. Now that we are through the second quarter, provided below are the newest figures for Wake County, the home of Raleigh, Cary, Apex and Wake Forest.
What Is Happening With Inventory & List Prices? Second quarter inventory increased 25% compared to the second quarter in 2007. Average list prices … (0 comments)
mortgage: Freddie Mac and Fannie Mae
- 09/12/08 11:29 AM
I am sure you are hearing in the news about the Government stepping in to provide stability to Fannie Mae and Freddie Mac. I received the information below from Robbie Oakes, a lender with Corporate Investors in Chapel Hill. It is a great explanation of why this needed to happen. I did want to let you know that there has been an immediate effect on mortgage rates. Today, they dropped about a .5 point and they could go lower. Today's rates are: 5.375 for 15-year fixed 5.625 for 30-year fixed Please read below if you want a great explanation for why this … (0 comments)
mortgage: The Mortgage Report
- 09/03/08 11:40 AM
The Good News According to the Federal Reserve, American homeowners saw their net housing equity-or the values of their property minus mortgage debt-grow from $6.2 trillion to $9.6 trillion from 2000 to 2007. According to the National Association of Realtors, America is adding close to 1.5 million new households per year which will create an increasing demand for homes. The Bad News According to the Office of Thrift Supervision, nearly 2.3 million homes totaling 3 percent of the nation's housing stock, are vacant and on the market. This represents over a 10-month supply given current sales. Foreclosures and mortgage payment delinquency … (0 comments)
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Jodi Bakst
Team Jodi - Chapel Hill Real Estate, Durham Real E
If you are buying or selling in Chapel Hill, Carrboro, Durham, Hillsborough, Durham or Orange, Durham or Chatham Counties, you have come to the right place. Jodi Bakst and her Team of Real estate specialists provide seamless customer service for our buyer and seller clients throughout their relocation or move.
In light of recent soaring foreclosure filings in North Carolina - 24% from June 2008 and 125% from July, 2007 - Governor Mike Easley signed a bill to offer relief to homeowners and banks alike. The North Carolina Foreclosure Prevention Project requires that both homeowners and the state's bank commissioner must receive 45 days notice before a foreclosure is filed and also allows the bank commissioner to extend any foreclosure filing notice by 30 days. During this time, the state would negotiate with the homeowner and mortgage holder on their loan interest rate and payments. Easley estimates that that the law could help … (2 comments)
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