Today’s Real Estate News 10-3-2011

03 Oct

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

House Is Gone but Debt Lives On
The Wall Street Journal | October 2, 2011
Forty-one states and the District of Columbia permit lenders to sue borrowers for mortgage debt still left after a foreclosure sale.

Real Estate Becoming a Cash Economy
The Boston Globe | October 2, 2011
More than a third of homes sold this year in Massachusetts, from gritty fixer-uppers to multimillion-dollar estates, have been paid for in cash as an increasing number of buyers decide to sidestep the traditional, and increasingly burdensome, mortgage process.

States Can Learn from New England’s Foreclosure Prevention Programs
DSNews | October 1, 2011
As delinquencies and impending foreclosures rose over the past several years, New England states responded with foreclosure prevention programs, generally falling into one of two categories: foreclosure mediation and financial assistance.

Job Loss Could Put One in Three Out of Their Home
DSNews | October 1, 2011
One in three Americans would be unable to make their mortgage or rent payment beyond one month if they lost their job, according to the results of a national survey taken in mid-September.

From the National Association of Realtors®:

More Military Can Take Advantage of HAFA
More military service members who are underwater on their homes may now be able to take part in the Home Affordable Foreclosure Alternatives program.

‘Jumbo’ Loans Set to Lower Oct. 1
Starting Saturday, many borrowers in pricey housing markets may find they’ll need a higher down payment or pay higher rates. The size of mortgages that the government will back in several high-priced regions is set to drop on Oct. 1.

Forcing Foreclosure Mediation Better Than Voluntary?
State foreclosure mediation programs that force the lender or home owner to participate tend to have a greater success rate than voluntary programs, according to research by the Federal Reserve Bank of Boston.

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
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Direct Fax: 866.652.8834

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