Equifax Study Reveals Impact of Shadow Inventory and Real Estate Owned Properties on Economic Recovery
July 3, 2011 by Matthew Bond · Leave a Comment
ATLANTA, June 30, 2011 - Despite steady gains in key industry sectors, the nations housing market continues to exert pressure on the overall rate of economic recovery. While financial conditions across multiple financial sectors suggest economic stabilization and growth, delinquencies still exceed pre-recession levels due to continued turbulence in the mortgage marketplace, according to Equifax national credit trend research for May 2011.
Slowing todays economic recovery are the challenges posed by high shadow inventory levels, which are contributing to the continued rise of severe mortgage delinquencies and write-offs.
Mortgage debt reduced by £5.8bn
July 3, 2011 by Jack Collie · Leave a Comment
Homeowners reduced their outstanding mortgage debt by the lowest level in a year in the first quarter of 2011, figures showed today.
Homeowners paid 5.8 billion off their mortgages, which was down on the record 7.1 billion the previous quarter, according to the Bank of England.
Householders have now been paying down their average mortgage debt for three years in a row.
There has been a shift towards homeowners paying off their mortgages since the financial crisis, whereas previously there was a willingness to take out loans as property prices soared.
VA Loans Excellent For Active Duty, Retired or Discharged
July 2, 2011 by Jack Collie · Leave a Comment
It is actually a great deal for vets in all states, but I am licensed in Oreogn, Washington and California. VA mortgage loans can be used towards purchasing a home, building a home (although hard to come by), or refinancing an existing mortgage up to 90% loan to value.
We will discuss what role the VA plays in a VA guaranteed mortgage, the benefits of a VA home loan, who is eligible for a VA loan, and the documentation you will need to present to your lender in order to apply.
Did you know that more than 27 million veterans and service personnel are eligible for VA financing, yet many aren’t aware it may be possible for them to buy homes again with VA financing using remaining or restored loan entitlement?
VA Does Not Offer Loans Directly and Does Not Guarantee You Will Qualify.
The VA does not actually lend the money to you directly. Th
What Is MERS?
July 2, 2011 by Matthew Bond · Leave a Comment
I get this question a lot nowI see a lot of folks facing foreclosure talking about MERS. I have never heard the term MERS, so my question isWhat is MERS?
My answer:
MERS is the acronym for Mortgage Electronic Registration Systems, Inc., a company formed in 1995, owned by parent company Merscorp Inc. which developed a new system to expedite the transfer of ownership interests in mortgages and servicing rights.
I know that sounds like mortgage speak, so let me explain.
The banks noticed that recording a transfer of the mortgage interest each time with the office of records at the county where the property was located cost money and took time.
Willems questions 2007 valuations
July 2, 2011 by Darcy Beg · Leave a Comment
Property News
Willems questions 2007 valuations
Government offers to buy 5,100 Christchurch homes
Issues Paper on housing affordability released today
Government to update on Christchurch tomorrow
Auckland house prices up over quarter, but ‘bumps ahead’ says BNZ
Wellington landlords out of pocket after company closure
Auckland City Centre rents down 31% over year to May, Crockers
Canterbury Property Investors Association president Kim Willems has given a cautious welcome to Government plans to buy 5,100 Christchurch homes, though she questioned the 2007 valuation the Government has adopted. <