Friday , 2 June 2017
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Crisis Watch

Home Prices Teeter on a Double Dip

A 20-city composite of home prices through October as measured by the S&P/Case-Shiller Indices is teetering on the brink of falling below recent lows in 2009 to create a price new low and achieve the “double dip” in prices long feared by the real estate industry. Read More »

Housing Counseling Agencies Advance as Major Players in Real Estate Market

The government finds itself in the throes of a major housing crisis and asks, “What works? What doesn’t work?” Recent studies prove homebuyers working with housing counseling agencies are less likely to suffer foreclosure than buyers who go it alone. Homeowners working with housing counseling agencies are more likely to win a loan modification than borrowers making other choices. The government responds with a record 22% increase over last year’s federal funding in 2011. Read More »

More Homeowners Dodge Foreclosure Bullet with NFMC Counseling

All loss mitigators are not created equal. The odds of curing a foreclosure and avoiding redefault are 1.7 times better for homeowners enrolled in the National Foreclosure Mitigation Counseling (NFMC) Program than for homeowners who do not receiving such counseling, according to the Urban Institute. The group released a report yesterday analyzing the NFMC program December 2009. NeighborWorks America is … Read More »

PA Fraudclosure Scandals Taint Thousands of Court Actions

Allegations of legal misconduct and fraud mount as attorneys general and bank regulators investigate lenders and servicers. Charges of unauthorized practice of law by low level employees in a Philadelphia foreclosure mill that represented lenders and servicers in thousands of foreclosures is the latest wrinkle in the ongoing saga of the U.S. housing crisis. Goldbeck McCafferty & McKeever has come … Read More »

Counting the Casualties of the Housing Depression

When it comes to getting a mortgage, building a new home or buying an existing one, there’s a good reason consumers don’t experience the same level of service that existed at the height of the housing boom five years ago. The ranks of real estate professionals have been devastated Read More »

Banks Tighten Standards as Mortgage Demand Falls

Even as demand for mortgages declined with the expiration of homebuyer tax credit in the third quarter, a small number of banks tightened standards on both prime and nontraditional mortgage loans, reversing a slight net easing reported in the second quarter. Read More »

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