News and Press Releases
Foreclosures Rising Again
Tue, 12 May 2009 04:04 PM
In a front page above-the-fold article today, the Wall Street Journal reported what we mentioned the other day - that some of the largest mortgage companies in the US are stepping up foreclosures on delinquent homeowners. Companies had temporarily halted foreclosing on borrowers as they waited for the details of the Obama administration's housing rescue plan and changes in state laws, but are now moving the backlog through the foreclosure process. The resulting increase in the supply of foreclosed homes could further depress home prices and put additional pressure on bank earnings as troubled loans are written off. Of course, now that some of these institutions have received bailouts, are we in for another round of congressional pillorying because mortgage companies have the audacity to want their lenders to pay their bills?
Read the Full Story...
Housing Prices Fall
Tue, 12 May 2009 04:03 PM
The S&P Case-Shiller Home Price Index, measuring housing prices in 20 representative cities across America, fell for the 30th straight month in January, bringing house prices down to 2003 levels. And this time it actually set a record, falling 19% from January 2008. "There are very few bright spots that one can see in the data," said David Blitzer, chairman of the index committee at Standard and Poor's. "Most of the nation appears to remain on a downward path, with...nine of the MSAs (metropolitan statistical areas) falling more than 20% in the last year." According to Mike Larson, a real estate analyst with Weiss Research, home prices won't start advancing until the overall economy picks up.
Read the Full Story...
Foreclosure Fraud Alert Released by Division of Real Estate
Fri, 16 Jan 2009 06:17 PM
Division of Real Estate offers Consumers Five Ways to Fight Foreclosure Fraud
(For immediate release…)
SALT LAKE CITY, Utah – Mark Steinagel, Director of the Utah Division of Real Estate, announced today that the Division is offering advice on how to avoid foreclosure scams in light of Utah’s rising foreclosure rate as referenced in a recent RealtyTrac report. The Division has compiled the “Top Five Common Foreclosure Frauds” as well as “Five Ways Consumers Can Protect Themselves against Foreclosure Fraud” lists for the public.
Read the Full Story...
Tue, 12 May 2009 04:04 PM
In a front page above-the-fold article today, the Wall Street Journal reported what we mentioned the other day - that some of the largest mortgage companies in the US are stepping up foreclosures on delinquent homeowners. Companies had temporarily halted foreclosing on borrowers as they waited for the details of the Obama administration's housing rescue plan and changes in state laws, but are now moving the backlog through the foreclosure process. The resulting increase in the supply of foreclosed homes could further depress home prices and put additional pressure on bank earnings as troubled loans are written off. Of course, now that some of these institutions have received bailouts, are we in for another round of congressional pillorying because mortgage companies have the audacity to want their lenders to pay their bills?
Read the Full Story...
Housing Prices Fall
Tue, 12 May 2009 04:03 PM
The S&P Case-Shiller Home Price Index, measuring housing prices in 20 representative cities across America, fell for the 30th straight month in January, bringing house prices down to 2003 levels. And this time it actually set a record, falling 19% from January 2008. "There are very few bright spots that one can see in the data," said David Blitzer, chairman of the index committee at Standard and Poor's. "Most of the nation appears to remain on a downward path, with...nine of the MSAs (metropolitan statistical areas) falling more than 20% in the last year." According to Mike Larson, a real estate analyst with Weiss Research, home prices won't start advancing until the overall economy picks up.
Read the Full Story...
Foreclosure Fraud Alert Released by Division of Real Estate
Fri, 16 Jan 2009 06:17 PM
Division of Real Estate offers Consumers Five Ways to Fight Foreclosure Fraud
(For immediate release…)
SALT LAKE CITY, Utah – Mark Steinagel, Director of the Utah Division of Real Estate, announced today that the Division is offering advice on how to avoid foreclosure scams in light of Utah’s rising foreclosure rate as referenced in a recent RealtyTrac report. The Division has compiled the “Top Five Common Foreclosure Frauds” as well as “Five Ways Consumers Can Protect Themselves against Foreclosure Fraud” lists for the public.
Read the Full Story...
