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Real Estate News Today 4-3-2012

03 Apr

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

Is Mortgage-Debt Forgiveness Worth the ‘Moral Hazard’?
The Wall Street Journal | April 2, 2012
It’s been one of the most vexing problems of the mortgage crisis: Do policies to restructure loans for underwater borrowers encourage homeowners who don’t need help to default?  (I don’t know the answer to the question, but I would say this isn’t the only part of our system right now that encourages borrowers to default. ~Anthony)

Small Banks Shift Charters to Avoid U.S. as Regulator
The New York Times | April 2, 2012
An increasing number of the nation’s savings and loan associations are avoiding some federal oversight by becoming credit unions or switching to a state charter.

The Fall and Stalled Rise of the Mortgage Broker
HousingWire | April 2, 2012
In the fall of 2008, amid the worst housing market since the Great Depression, Eric Weinstein, chief executive of mortgage brokerage firm Carteret Mortgage, sent an email to his employees that read: “You should definitely seek other employment immediately . . . I would expect that you have about 30 days to close your loans before it starts getting bad.”

Investors Are Looking to Buy Homes by the Thousands
The New York Times | April 2, 2012
With house prices still down, some large investors are creating huge portfolios by buying thousands of homes at deep discounts and then renting them out.

Where Housing Once Boomed, Recovery Is Slow to Take Hold
The New York Times | April 2, 2012
The official statistics say that the national economy has been growing for almost three years, but there is scant evidence of renewed prosperity in places like Prince George’s County, Md.

Foreclosure Reforms to Widen
The Washington Post | April 2, 2012
State and federal officials who recently completed a $25 billion settlement with five of the nation’s largest banks over shoddy foreclosure practices have begun discussing how to apply some of the terms of that deal to a wider array of financial firms.

Big Firms Mentor Start-Ups on Their Image
The Wall Street Journal | April 2, 2012
In a world where image is key, start-ups often find themselves playing catch up. A range of new programs offers start-ups with better access to traditional ad agencies and major marketers. 

Still Time to Have Forgiven Mortgage Debt Excluded as Taxable Income
DSNews.com | April 2, 2012
Homeowners who have had mortgage debt forgiven after a foreclosure, modification, or short sale may be able to exclude the canceled debt from their taxable income if they meet specific criteria.

Bidding Wars Are Back, Agents Say
Realtor Magazine | April 2, 2012
With housing inventories at six-year lows, some real estate markets are reporting multiple bids and homes selling for over the asking price. (Give me some real-life scenerios.  What are you seeing in your market? ~Anthony)

 

Anthony Carollo

 

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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
acarollo@stewart.com

 

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www.StewartSpokane.com


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