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Today’s Real Estate News 5-16-2012

16 May

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

Critical article here: If you have short sale seller, the deadline is 12/31 to be able to sell without a tax ramification unless Congress extends the law!  Please read this one.
The Fuse is Burning and Time is of the Essence – The Pending Expiration of the Mortgage Forgiveness Debt Relief Act
Ted C. Jones Blog | May 16, 2012
The clock is ticking for individuals either facing foreclosure or that are underwater and desire to complete a short sale of their primary dwelling, in regards to any debt forgiveness. 

Multifamily Lending Accelerates 45% in 1Q
HousingWire | May 15, 2012
Bolstered by record-low interest rates, multifamily mortgage originations spiked 45% in the first quarter from year-ago levels, according to the Mortgage Bankers Association.

Regulator Laments Role of Largest Mortgage Lenders
The Wall Street Journal | May 15, 2012
The U.S. mortgage industry has become too concentrated in the hands of a few large players, a U.S. housing regulator said Tuesday, expressing a concern many small lenders are voicing as regulators consider how to overhaul the nation’s mortgage system. 

U.S. Home Loan Regulator Opposes California Foreclosure Bills
The Los Angeles Times | May 15, 2012
A pair of controversial bills in the California Legislature that would give homeowners more rights to fight foreclosures is being opposed by the nation’s principal home loan regulator.

Florida’s Next Frontier
The Wall Street Journal | May 15, 2012
A parcel of timberland in Florida that is nearly the size of Rhode Island and owned by a who’s who of elites from the worlds of business and diplomacy is now slated to be the next frontier in the state’s real-estate development.

Needy States Use Housing Aid Cash to Plug Budgets
The New York Times | May 15, 2012
Some states are diverting their share of $2.5 billion they were awarded in a mortgage settlement, money intended to help homeowners and mitigate the effects of foreclosures.

Foreclosed Americans Find Way Back to Homeownership
Reuters | May 15, 2012
When Jennifer Anderson’s family could no longer afford their mortgage and lost their home, she expected many years to pass before they would again become property owners.

Duke: Put-back fear stifles mortgage lending
HousingWire | May 15, 2012
Mortgage lenders are overly restricting credit as a shield from the threat of put-back risk on loans sold to government-sponsored enterprises, Federal Reserve board member Elizabeth Duke suggested Tuesday. (This one seems like a no-brainer and is something the industry has been saying for several years now.  Though I must say I’ve never heard the term “Put-back” used in conjuction with the GSE forcing the lender to take back the loan. ~Anthony)

 

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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

Please remember to choose Stewart Title of Spokane on your next transaction!

www.StewartSpokane.com

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2 Comments

Posted by on May 16, 2012 in Real Estate news

 

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2 responses to “Today’s Real Estate News 5-16-2012

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