July 2009

Changes to TILA

Posted on Wednesday, July 15, 2009

Revisions to the Truth in Lending Act (TILA) will require lenders to comply with the following after July 30, 2009: The new requirements apply to all mortgages secured by a borrower's home, including primary and second homes and refinancings. Investor loans continue to be exempt. Lenders must g...

NAR Position on FHA

Posted on Monday, July 13, 2009

The Federal Housing Administration (FHA)’s role in healthy housing markets has never been more critical than today. As private lenders fled the market, FHA is now one of the primary sources of safe affordable mortgage financing for American families. On behalf of the 1.2 million members of the Na...

Recent Survey Measures America's Housing Pulse

Posted on Monday, July 13, 2009

The Housing Pulse Survey is an annual telephone survey of 1000 urban and suburban adults in the top 25 media markets, designed to assist NAR in gaining information on consumers' attitudes and concerns about housing opportunities. Some recent results are interesting: Two-thirds of Americans think ...

Price Declines Expected

Posted on Monday, July 13, 2009

According to the WSJ, nearly 85% of the country’s housing markets are facing an increased risk of home price declines over the next two years, and prices are likely to slide in half of the largest 50 U.S. markets through the beginning of 2011, according to a report from mortgage insurer PMI Group In...

Current Foreclosure and Neg Equity Predictions

Posted on Monday, July 13, 2009

Some economic observers are predicting another wave of foreclosures later this Summer or the Fall. That’s because lenders that have held off on foreclosures as part of President Obama’s plan are now move forward aggressively to clear the backlog of troubled mortgages. There is fear that these risin...

Helping Families Save Their Homes

Posted on Monday, July 13, 2009

May 20th the President signed an amendment to Helping Families Save Their Homes designed to help families who happen to be tenants save their homes, at least for a short time, too. The amendment requires investors and lenders who acquire title to foreclosed residential rental property to allow the ...

Send The Right Message to Good Folks Underwater

Posted on Thursday, July 02, 2009

Here in Florida, a place synonymous with bad real estate and mortgage decision-making that has consequently seen steep declines in home value, I've been noticing yet another troubling trend. Owners of homes worth less than their mortgage loan balance--those so called "underwater," "negative equity"...

So what is a foreclosure nation? Real Estate: Bookshelf The Business Review (Albany)

Posted on Thursday, July 02, 2009

Friday, June 26, 2009 Real Estate: Bookshelf The Business Review (Albany) - by Review by Philip Schwartz In her new book with that title, Shari B. Olefson writes that it’s a nation “replete with illiquid, distrustful, often insolvent lenders; distressed companies, industry leaders who stand acc...

The Importance of Title Insurance

Posted on Thursday, July 02, 2009

PThe purpose of an owners title insurance policy is to protect commercial or residential property owners from most things that could be wrong with the title (the legal right to own, use, etc) of the property. Title insurance coverage is limited by the dollar amount of coverage (for an owner's title...

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