Today’s news that may be of interest to you:
Lawmakers to Restore Higher FHA Loan Limits
The Washington Post | November 17, 2011
U.S. lawmakers moved Thursday to increase the maximum size of loans that can be guaranteed by the Federal Housing Administration, even as a top Obama administration official expressed doubt about the need for the change. (Do we need the higher loan limits? Yes? No? Your thoughts on my blog?)
Nevada AG Files Criminal Charges for Robo-Signing
DSNews | November 17, 2011
Nevada Attorney General Catherine Cortez Masto filed criminal charges against two title officers Wednesday for alleged robo-signing.
Foreclosures in U.S. Rise for First Time in a Year as Lender Backlogs Ease
Bloomberg | November 17, 2011
U.S. lenders started foreclosures on more properties in the third quarter, the first increase in a year, as a backlog stemming from claims of faulty home seizures began to ease.
Housing Starts in the U.S. Rose 5.1% in October
Los Angeles Times | November 18, 2011
The West, with a 16.5% drop, was the only region without an increase in construction of single-family homes. One analyst says the overall gain is a sign that numbers will be good the rest of the year.
Fewer Mortgages Going Bad but Foreclosures Expected to Increase
Los Angeles Times | November 17, 2011
The Mortgage Bankers Assn. says it could take three or four years to return to a normal pattern of delinquencies and foreclosures.
House Approves Bill Averting Government Shutdown
San Francisco Chronicle | November 17, 2011
A weekend government shutdown that neither party wants would be averted under a compromise spending bill the House approved Thursday despite complaints from lawmakers left and right about provisions ranging from school lunch standards to the size of federally backed loans.
Europe Debt Crisis Keeps Mortgage Rates At Record Lows
The MReport.com | November 17, 2011
Mortgage rates ran a tepid streak started three weeks ago by hovering at around 4 percent this week, according to Freddie Mac, largely because investors continue to flee European sovereign bonds for the safe haven of U.S. Treasury debt.
From the National Association of Realtors®:
Housing Picture Expected to Brighten in 2012
Better times are ahead for the real estate market in the new year, according to several forecasts and a recent survey. (Can I hear you say Wahhoooooo!?! OK, no cheering yet, but it’s good to hear there is some sense of hope out there. ~Anthony)
Gov’t Announces More Refinancing Program Details
Spread the word to your clients: The HARP program is opening its doors to more home owners who want to refinance their mortgage and take advantage of ultra-low mortgage rates.
Students Swap Dorms for McMansions?
An answer to one city’s foreclosure crisis? Move in more college students.
Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA 99201
Direct Line: 509.321.3939
Direct Fax: 866.652.8834
Please remember to choose Stewart Title of Spokane on your next transaction!