Real Estate News 7-13-2012

13 Jul

Who is your favorite Stewart Spokane employee and why?  Email me and tell me and we’ll get it on our Facebook page, or even better – you can post it directly to our page!  Facebook

Would You Do Your Banking On Facebook?
WebProNews | July 13, 2012
Can you imagine a world where all of your financial transactions are going through the same account as all of your photos, status updates, videos, game playing, and music discovery? Facebook certainly can, and that looks to be the goal the company is trying to achieve. (Scary or incredibly convenient? ~Anthony)

3 reasons HELOCs create title headaches
Real Estate Settlement Observer | July 13, 2012
Home Equity Lines of Credit (HELOCs) may be difficult to obtain in today’s market, but not too long ago, everybody had one.  Recently, a series of closings were delayed in our office due to issues with HELOCs, and I expect that dealing with HELOCs will only get worse.    There are several reasons why HELOCs often cause title nightmares, and keeping good records can help avoid settlement delays. (An excellent article from Federal Title in Washington DC. If you’ve ever had a closing delayed because of an old HELOC, the author does a great job of explaining how/why that happens. ~Anthony)

Rising Home Values Lift Borrowers Out from Underwater
The Wall Street Journal | July 12, 2012
Rising home prices during the first three months of the year reduced by 700,000 the number of homeowners who owe more than their homes are worth, according to a report released Thursday.

Real Estate Bright Spot: More Businesses Buying Office Space
CNBC | July 12, 2012
Las Vegas dentist Chris Cozine wanted to cut costs after the Great Recession. He found an unlikely way: He ditched the office he was renting and bought 6,600 square feet of his own.

Colony Said to Win Foreclosed Homes Sold by Fannie Mae
BusinessWeek | July 12, 2012
Tom Barrack’s Colony Capital LLC, which plans to acquire $1.5 billion of rental homes within a year, was among the winners of about 2,500 foreclosed properties auctioned off by Fannie Mae, according to four people with knowledge of the sale.

Family Finds Itself in Foreclosure Nightmare
ABC News | July 12, 2012
In 2009, Christopher Flood and his wife Tammy bought their dream home. “First time home buyer, first time tax credit, we were on fire,” Flood recalled. They bought the custom-built home through a short sale.

Bondholders See Eminent Domain As State Attack: Mortgages
Bloomberg | July 12, 2012
“If you know that the county in which you make a loan could force you to sell it for less than it’s worth if it goes underwater, then the rate you will charge, in a free market system, would be a lot higher,” said Mike Canter, head of securitized assets at New York-based AllianceBernstein, which oversees about $400 billion.

HPF: Homeowners making payments warn of financial distress
HousingWire | July 12, 2012
More borrowers who are timely on their mortgage payments are calling the Homeownership Preservation Foundation’s Hope Hotline warning of future defaults.

Anthony Carollo 2007 EMAIL  

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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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