We received enough wonderful feedback on yesterday’s news that I had to put it into a separate blog post called Overcharging First Time Homebuyers and IDX Listings on Agents’ Websites
‘Mortgage Cops’ Target Strategic Defaulters
RealtorMag | September 17, 2012
The Office of the Inspector General at the Federal Housing Finance Agency is trying to find strategic defaulters and collect on what they still owe. Strategic defaulters are often underwater home owners who walk away from their mortgages even though they still have the means to pay. (Many of us know someone who was involved in a strategic default. It amazes me that they allowed it to go on for so long that it became an acceptable practice in our culture, and now they’re trying to criminalize it. When you read the article, take a look at the reader comments in there as well.~Anthony)
For-Sale Listings Drop Again, Led by California Cities
The Wall Street Journal | September 18, 2012
Inventories fell in August by 1.2% from July, bucking a seasonal pattern of a slight uptick before the summer season ends.
Two-thirds of Americans with Mortgages Pay 5% Interest or Higher
The Los Angeles Times | September 17, 2012
U.S. interest rates are at rock-bottom levels, but that’s not helping most Americans with mortgages. And those high-cost loans remain a big drag on the economy, experts say. (Interesting that 5% is called a “high-cost loan”. I guess when you compare that to current rates it’s higher, but not when compared with historic rates. ~Anthony)
Women Consider Family, Career and Owning a Home to be Vital Components of the American Dream
RISMedia | September 17, 2012
A Home Buyer Poll released by TD Bank has revealed that 64 percent of women believe homeownership is essential in defining the American Dream.
Fed Study Says Unemployment would be 7 Percent if Not for Consumer Doubt
The Washington Post | September 17, 2012
Uncertainty has pushed up the rate by between one and two percentage points, study reports.
Idaho Supreme Court Decision Gives MERS Court Win
HousingWire | September 17, 2012
The Trotter v. Bank of New York Mellon case out of Idaho’s Supreme Court set a precedent in January that helped the Mortgage Electronic Registration Systems obtain the dismissal of a foreclosure case this past week.