Today’s Real Estate News 6-23-2011

23 Jun

Check out the article below and tell me: Should Facebook be considered a fair way to serve someone a foreclosure notice?  Any legal notice?  Let me know your thoughts on (surprise!) our Facebook page at or send me  an email.

Today’s news that may be of interest to you:

US Home Prices Increase a Scant 0.8% in April: FHFA
HousingWire | June 22, 2011
U.S. home prices rose a scant 0.8% between March and April, the Federal Housing Finance Agency said in its latest home price index report.

Shadows Shrink on More Distressed Sales and Fewer Delinquencies
DSNews | June 22, 2011
The shadow inventory of repossessed and soon-to-be repossessed homes not yet visible to the market has been trimmed, according to new data released by CoreLogic Wednesday. 

‘Next Wave’ of Mortgage Fraud Strikes
Minneapolis Star-Tribune | June 22, 2011
Four face charges of using bogus records, fake college transcripts and a “phone tree” to get FHA loans.

Bernanke Leaves Door Open to Further Easing
Bloomberg | June 23, 2011
Federal Reserve Chairman Ben S. Bernanke left the door open to a fresh shot of monetary stimulus should the economic rebound he’s predicting fail to materialize.

Mortgage Debt, a Lasting Burden
The New York Times | June 22, 2011
The government wants to wind down Fannie Mae and Freddie Mac. But the task is getting bigger, not smaller. Impaired and hard-to-sell mortgage debt – more than $900 billion of it so far – increasingly dominates the two housing finance giants’ balance sheets.

Federal Reserve Chief has One Recipe for Housing Market
Reuters | June 22, 2011
Federal Reserve Chairman Ben Bernanke has a recipe for helping the housing market: Modify more loans and speed up foreclosures to get rid of a glut of distressed properties clogging the system.

From the National Association of Realtors®:

More Home Owners Staying Current on Mortgage
The number of borrowers defaulting on mortgages has dropped significantly in the last year, according to a recent report.

Couple Served Foreclosure Notice Via Facebook
A sign of more things to come? A lender sends a couple a foreclosure notice to their Facebook accounts.  (Creativity in the marketplace.  Wow. ~Anthony)

Mobile Apps That Help You Save Money
New mobile apps for your smartphone aim to help you shop smarter and save money. Check out a few examples.

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Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA  99201
Telephone: 509.328.7171
Direct Line: 509.321.3939
Direct Fax: 866.652.8834

Please remember to choose Stewart Title of Spokane on your next transaction!


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