Archive for October, 2009

Trapped by debt: More in Midlands can’t find way out (The State)

Saturday, October 31st, 2009

Ayanna White got caught up in the home-buying fever that swept the country. Now, only two years after buying her first home for $103,500 with no money down, the 29-year-old, single mother and student is facing foreclosure.

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Mortgage modifications are becoming more common (St. Louis Post-Dispatch)

Saturday, October 31st, 2009

Banks and mortgage companies have foreclosed on 5,000 residential properties in the St. Louis region so far this year. But a growing number of homeowners are managing to save their houses by convincing lenders to cut their monthly payments. Borrowers just shouldn’t expect an easy time.

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Tax-Credit Deadline Looms For First-Time Home Buyers (Hartford Courant)

Saturday, October 31st, 2009

Maggie DeFelice is out house hunting in the Hartford area and she has plenty of choices.

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Chinese drywall hurting entire South Florida communities (Sun-Sentinel)

Saturday, October 31st, 2009

Parkland, other communities find sales of homes, condos are slow Home buyers in South Florida are petrified of tainted Chinese drywall.

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The National Mortgage Complaint Center is Warning All US Homeowners About Mortgages, Foreclosure Scams and the Future (PRWeb)

Friday, October 30th, 2009

Americas Watchdog’s National Mortgage Complaint Center is warning all existing US homeowners about a seemingly endless amount of new mortgage scams, or schemes, designed to do little more than separate homeowners from their hard earned money. The group is saying, “while we do believe interest rates are going up, and homeowners with really good credit, and actual equity in their home should …

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Seven Tips For Buying A Home In This Market (Forbes)

Friday, October 30th, 2009

How to find the best real estate deals.

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Mortgage counseling service gets boost (The Vacaville Reporter)

Friday, October 30th, 2009

For a second year, extra money is coming to Vacaville to help with mortgage counseling.The California Reinvestment Coalition, along with financial institutions and two foundations, announce grant awards in the amount of $2.6 million to 40 nonprofit mortgage counseling agencies through the California Home Ownership Preservation Initiative.

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Big lenders set sights on HK family banks (People’s Daily)

Friday, October 30th, 2009

Hong Kong’s publicly traded family-run banks are “very likely” to be bought by larger competitors as the cost of operating in the city rises, said a senior banker at the local unit of the mainland’s biggest lender - Industrial and Commercial Bank of China (ICBC). The companies are attractive to cash-rich mainland lenders seeking a platform for expansion in Asia, and to overseas banks aiming to …

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Foreclosure crisis hits home in Jackson County (The Jackson Citizen Patriot)

Thursday, October 29th, 2009

More than 5,000 Jackson County residents have lost their homes to mortgage foreclosure in the past five years.And the crisis is not going away any time soon, local officials say.”We really believe that the crisis is hitting more than people…

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Home Sales, Prices Remain Flat in Third Quarter as San Francisco Bay Area Real Estate Continues Slow March to Recovery (PRWeb via Yahoo! News)

Thursday, October 29th, 2009

The San Francisco Bay Area real estate market continued to show signs of a slow recovery during the third quarter of 2009 behind a dwindling supply of foreclosed properties on the market and increased competition between cash-rich investors looking for deals and traditional first-time homebuyers trying to leverage low interest rates and a soon-to-expire federal income tax credit to completed a …

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