insert-headers-and-footers domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/internetpages/srec.internetpages.net/wp-includes/functions.php on line 6170oxygen domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/internetpages/srec.internetpages.net/wp-includes/functions.php on line 6170Mortgage delinquencies have hit their lowest point in 4 years, according to the Mortgage Bankers Association, down from 7.58% to 7.4%. This includes mortgage payments that are at least one payment behind, but does not include loans already somewhere in the foreclosure process. The peak number was over 10%, during the height of the housing […]
Taxpayers are getting a little breather as Fannie Mae turned a profit at $3.1 billion, passing the $2.8 billion required Treasury payment. This is the first time since going into conservatorship in 2008 that the GSE hasn’t required a draw. Fannie’s CFO, Susan McFarland, is anticipating continued strong performance results. "Our credit performance is headed […]
Wholesale clubs truly are becoming one-stop shops for everything you need... giant boxes of cereal, lawn furniture, bulk toiletries, and now… mortgages. After testing for a year, Costco is launching a full-service mortgage lending program on its website, in conjunction with First Choice Bank and 10-other lenders. To date, the lending partners have issued over […]
I just got this article from Jerry Kayser, my broker at Sharp Concepts Realty and one of my SREC coaches, and I had to pass it along to you – this is really big news! Right now, Freddie Mac and Fannie Mae own 3.3 million of the 11.1 million mortgages where borrowers own more than […]
Last week, CoreLogic reported that the number of homes currently in the shadow inventory is roughly half the number of those currently in the visible inventory. On top of that, about half the shadow inventory has not made it into the foreclosure cycle yet. Altogether, the total shadow inventory includes 400,000 REOs, 410,000 already in […]
Last week, Bank of America announced that they were reducing the amount owed for 200,000 underwater homeowners. This is huge for the homeowners, because it means a chance to eliminate the underwater portion of their mortgages. The anticipated average reduction is $100,000. Homeowners are eligible for the reduction if they were at least 60 days […]
Even though there are signs of hope in the economic recovery, the housing market still has a long way to go. Of the 55 million mortgage holders in the US, industry experts predict that as many as 10 million will default by 2018. While there have been some attempts by the government to reduce the […]
Attention private real estate investors: The FHFA recently released a 3-step plan to lessen the role of Freddie Mac and Fannie Mae in the mortgage industry and shift it to private investors. Since 2008, when Freddie and Fannie were placed in conservatorship by the US Treasury, they have received more than $180 billion in taxpayer […]
A report that was released recently is putting Freddie Mac in the spotlight again, and not in a good way. After reviewing public documents, NPR and ProPublica revealed that Freddie Mac has actually been betting against the homeowners they claim to be helping. “The investment division of Freddie Mac placed millions of dollars of bets […]
2012 is going to be HUGE. Up to 9 million homes may enter foreclosure in 2012 period, versus one million in a typical year. This will send shock-waves through the stock markets and world economy. It may well be the "dark ages" for homeowners and lenders alike...and the wave of mortgage re-sets will continue in […]
