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Last year there were 2.82 million foreclosures, the most since RealtyTrac began compiling data in 2005. Some Analysts expect more than 4.5 million filings are expected this year. There is little doubt among analysts that foreclosures will top 3 million this year.
“As bad as the 2009 numbers are, they probably would have been worse [...]
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The Pending Home Sales Index was established in 2001. Since its inception there has never been 9 consecutive months of growth, until now. December 1st it was reported from the National Association of Realtors that the index reached 114 marking the 9th month in a row that the index has risen.
The Pending Home [...]
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The U.S. Treasury Department released a plan intended to speed up and encourage the short sale process.
A short sale is the final step a homeowner may take before giving up on a house and letting it slide into foreclosure. However, in the past the foreclosure process has been time consuming and has not delivered the desired results. [...]
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The fastest growing home loan on the market is the FHA 203k. in 2008 there were 10,000 FHA 203k loans, this year there will be 80,000 and next year estimates are over 500,000 FHA 203k loans will be processed. What is this loan? and do you qualify? read the FAQ below.
What is an FHA 203k [...]
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In a surprise move, Fannie Mae announced it will begin allowing homeowners facing foreclosure to rent back their homes for up to one year. This program allows homeowners to pay market value for rent, a sum typically lower than the price they are currently paying for their mortgage.
“The Deed for Lease Program provides an additional option for [...]
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The recent economic crisis has seen multiple records set, unfortunately most records are being set in the wrong direction. The third quarter of 2009 was no exception. The months of July, August and September saw a 5% rise in the already staggering foreclosure rate in the U.S.
There were 937,840 filings in the third quarter representing a 5% [...]
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After a brief hiatus, one of the biggest financial advisors in American returns to Phoenix. Not only is Dave Ramsey back in the Phoenix metropolitan area, but he has made a few upgrades to his radio show.
Dave Ramsey, who has been on the radio for years on AM stations is now making the transition into [...]
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If there is one thing the media has made us aware of throughout the course of this morgage meltdown, its just how creative(and crazy) lenders were with the financing options. As the credit from the banks tightened so did the lending options available for buyers.
While most of the exotic loans of the past are gone their are [...]
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Breaking news in the real estate community. This week Gabrielle Harrison the VP of REO sales for Fannie Mae, and Ingrid Beckles the Default Asset Manager at Freddie Mac announced an overhaul to the short sale process at the two companies.
A crowded room at the 5 Star Conference this week erupted as Gabriele Harrison [...]
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So it seems to be the new buzz word swirling through the Arizona real estate market these days, but what is the Shadow Inventory? To put it simply, Shadow Inventory is the residential homes that have been given back to the banks(foreclosed on) and processed by the banks, yet have not been put back [...]
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