No Positive Equity Until Late 2015 to Early 2016

HOW LONG WILL NEGATIVE EQUITY LAST?   * First American CoreLogic estimates that the typical U.S. homeowner who is in a negative equity position will not experience positive equity until late 2015 to early 2016. * In some depressed markets, the typical borrower in negative equity may not experience positive equity until 2020 or later. […]

New Foreclosure Prevention Plan Announced

New Foreclosure Prevention Plan Announced President Obama is announcing an expansion of foreclosure-prevent tactics, including a plan to reduce principal balances and special aid for unemployed borrowers. The bulk of the responsibility for carrying out the new program will be assigned to the Federal Housing Administration, which will insure lenders against part of the losses. […]

Real estate slump will end next year: Buffett

Real estate slump will end next year: America’s most listened-to investor Warren Buffett said the United States residential real estate slump will end by next year, predicting that’s how long it will take demand for homes to catch up with the supply. “Within a year or so, residential housing problems should largely be behind us,” […]

More Homeowners Walk Away From Their Homes

In 2006, Benjamin Koellmann bought a condominium in Miami Beach. By his calculation, it will be about the year 2025 before he can sell his modest home for what he paid. Or maybe 2040. “People like me are beginning to feel like suckers,” Mr. Koellmann said. “Why not let it go in default and rent […]

FHA and Fannie – Pushing Foreclosure Sales

FHA and Fannie –  Pushing Foreclosure Sales Starting today home “Flippers” are now welcome at the FHA. That’s right, with a glut of foreclosures plaguing the nation’s neighborhoods, the FHA is temporarily removing restrictions on investors who buy and sell homes within 90 days. It’s just for one year…