Today’s Real Estate News 7-6-2011

06 Jul

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

DOJ claims MGIC refused to insure mortgage for woman on maternity leave
HousingWire | July 6, 2011
The Department of Justice filed a lawsuit against Mortgage Guaranty Insurance Corp. alleging the mortgage insurer violated the Fair Housing Act by requiring a woman on paid maternity leave to return to work before insuring her mortgage.

Sellers Brace for New Mortgage Caps
The Wall Street Journal | July 6, 2011
The federal government is readying its first retreat from the mortgage market, with the size of loans eligible for government backing set to decline in October.

Bill Calls for Fannie, Freddie Merger
The Wall Street Journal  | July 6, 2011
A California Republican is set to introduce a bill as soon as Wednesday to merge Fannie Mae and Freddie Mac and restructure the company into a government-held corporation.

Housing Recovery Stymied as Government Works at Cross-Purposes
Bloomberg | July 6, 2011
While a record share of Americans want to buy homes, U.S. policies, often working at cross-purposes, are making it more difficult.

Foreign Buyers Lifting U.S. Home Sales
USA Today | July 6, 2011
Foreign buyers are helping to stoke home sales in U.S. vacation hot spots decimated by the real estate crash, especially in southern Florida.

Renters See Prices Skyrocket
The Washington Post | July 6, 2011
Sorry renters, but the days of low rents and lenient landlords are over – at least for now.

HUD Wants Public Housing Investors
Politico | July 6, 2011
The Obama administration wants the private sector to help rescue public housing.

Obama Calls Lawmakers to White House in Effort to Break Debt Stalemate
The Washington Post | July 6, 2011
President Obama on Tuesday rejected calls for a short-term increase in the legal limit on government borrowing and summoned congressional leaders to the White House to restart negotiations over a long-term plan to restrain the deepening national debt.

Employers Are Occupying More Space, but at a Slower Pace
The Wall Street Journal | July 5, 2011
In a sign the economic recovery’s recent stumbles may be spilling over into the real-estate market, employers took on less office space during the second quarter than earlier in the year.

From the National Association of Realtors®:

Down Payment Plan May Price Buyers Out of Market
If a 10 percent or 20 percent down payment rule is approved, buyers working in such jobs as a public school teacher would have to wait 14 years to save enough cash for a down payment to buy a $173,000 median-priced home. Find out what you can do.

Foreclosure Sales Drop, But Inventories Swell
By the end of May, the number of mortgages that were 90 or more days delinquent, combined with the foreclosure inventory, outpaced foreclosure sales by 50:1, Lender Processing Services Inc. reports.

Georgia Real Estate Agent Attacked at Gunpoint
A real estate sales associate was attacked and robbed while working at a leasing office in a new subdivision in Cobb County, Ga.


Anthony Carollo 2007 EMAIL  


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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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