Real Estate News 6-12-2012

12 Jun

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

Court Unlikely to Favor Homeowner in Florida Foreclosure Case: Moody’s
DS News | June 11, 2012
If a lender produces a fraudulent document when attempting to foreclose on a borrower, should lenders be able to voluntarily dismiss the foreclosure then re-file the case after fixing the error?

FHFA Plans Extensive Monitoring of First REO-to-rental Transaction
HousingWire | June 11, 2012
The Federal Housing Finance Agency will methodically analyze several pieces of the first REO-to-rental transaction, including how much it should monitor investor compliance to certain rules.

Home Refinancing Boosts Florida, Nevada: Economy
Bloomberg | June 11, 2012
Harold Fuller said he’s planning a cruise with his wife to Bermuda, their first vacation in two years, after cutting his mortgage payments by $400 a month after refinancing their $212,000 home in Apopka, Florida.

Positives of Negative Equity on Home Prices: CoreLogic
DS News | June 11, 2012
Declines in the share of REO properties and in the months’ supply of unsold inventory are all leading to a revival in home prices, and these drops are being driven, in part, by negative equity, CoreLogic concluded in a report. (Interesting dynamic at work here. ~Anthony)

Real Estate: FHA streamline refinance gets cheaper for homeowners
San Jose Mercury News | May 25, 2012
The government is about to make refinancing FHA mortgages more affordable — and potentially easier — for hundreds of thousands of homeowners. (FHA fees went down effective yesterday for cetain folks. Talk with your local FHA lender to see if you qualify to refinance. ~Anthony) 

FHA Hopes Bulk Sales Will Curb Foreclosures
RealtorMag | June 11, 2012
The Federal Housing Administration announced it will begin selling off distressed mortgages in bulk, which may help prevent foreclosures for thousands of home owners. Beginning in September, FHA says it hopes to sell 5,000 mortgages each quarter. 

And in the “Just for Fun” category today, we offer you:

What not to say when pulled over by a cop
MarketWatch | September 10, 2012
In what he calls an “educational video” that’s widely circulated on YouTube, comedian Chris Rock offers advice on what to do when you get pulled over for a traffic violation. (Watch the 20MPH zones in the City of Spokane as city pools open on June 18th. ~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

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

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Posted by on June 12, 2012 in Real Estate news


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