Real Estate News Today 1-27-2012

27 Jan

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

Old mortgages rise from the dead, haunt homeowners
MSN | January 26, 2012
In July 2009, Roy and Sheila Bowers refinanced the mortgage on their suburban ranch home in Topeka, Kansas. The couple wanted to take advantage of the low interest rates that were all the rage at the time.

Homes Backing GSE Mortgages Post 1% Price Gain in November
DSNews | January 26, 2012
Data released this week by the Federal Housing Finance Agency (FHFA) show purchase prices of homes backing mortgages that have been sold to or guaranteed by Fannie Mae and Freddie Mac rose 1.0 percent between October and November.

Gallup Poll on Housing Foreclosures: Most Americans want Government to Help
Politico | January 26, 2012
Most Americans want the government to step in and help stop housing foreclosures, according to a new poll Thursday.

Markets Fall as Bank Shares and Home Sales Decline
The New York Times | January 26, 2012
Banks had the biggest drop in the Standard & Poor’s 500-stock index amid concern about their ability to increase profits.

Much Heat, Little Light on Housing in Florida Debate
Reuters | January 26, 2012
Republicans presidential candidates have taken a hands-off policy on the U.S. housing crisis. At a debate on Thursday in Florida, it devolved into finger pointing.

Sharp Divide Exists Between Dems, Repubs on Gov’t Help in Foreclosures
HousingWire | January 26, 2012
The majority of Americans, 58%, want government action to prevent foreclosures, whereas 34% prefer the housing market resolve its problems on its own, according to a new Gallup poll that shows a sharp divide between Democrats and Republicans on the issue.

On Troubleshooting
The New York Times | January 26, 2012
Those who have issues with their mortgage lenders now have another place to take them: the Consumer Protection Financial Bureau, which began accepting such complaints and inquiries this month.

Housing Help Will Run Up Against Lending Standards
The Wall Street Journal | January 26, 2012
Both monetary and fiscal policymakers share one mutual problem: housing’s drag on the economy. The lack of new construction is cutting economic growth and payrolls. Falling home prices are reducing household wealth, a drag on consumer confidence and spending.

What Percent Are You?
The New York Times | January 26, 2012
See how your household income ranks in 344 zones across the United States.

From the National Association of Realtors®:

10 Cities Where List Prices Soared in the Last Year
Find out where list prices have jumped the most in the past year — even by 32 percent in one state.

Foreclosure Sales are Down, Average Discount 34%
In the third quarter of 2011, homes that were in foreclosure accounted for 20 percent of all residential sales in the country. While still high, that number has dropped from previous quarters, RealtyTrac reports.


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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

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