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Sun Mar 14, 2010
It’s been a year since the government’s Home Affordable Modification Program (HAMP) was implemented and only 170,000 troubled homeowners have received permanent loan restructurings.
The number of modifications in the permanent column did increase 45 percent from 116,297 in January, but it’s still a mere drop in the bucket when you consider the Treasury’s own estimate that there are currently 1.8 million borrowers who are behind on their payments and eligible for the program.
Foreclosed homes taken back by lenders and distressed short sales accounted for nearly half of all residential home sales in California in 2009, according to a market report released this week by the California Association of Realtors.
As one of the hardest-hit states by the housing downturn, the Golden State is littered with bank-owned properties and homes facing foreclosure, but the lower prices and increasing buyer appetite for these deals are helping to reduce some of California’s distressed inventory.
U.S. housing market gets a grade of D+ by John Burns Consulting's monthly report card. Read More
HUD released a Mortgagee Letter this week announcing the validity period for appraisals used to establish listing prices for the federal agency's REO properties. The letter also outlines situations when a second appraisa ... read more
In testimony before a House subcommittee Thursday, Charles McMillan, immediate past president of the National Association of Realtors (NAR), said the Federal Housing Administration (FHA) remains financially strong becaus ... read more
A new survey conducted by the Title/Appraisal Vendor Management Association (TAVMA) and the annual appraisal industry survey from Coester Appraisal Group shed light on what is really happening in the appraisal industry. read more
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