Worst performing cities: Despite news that the pending home sales index jumped at the highest rate since 2001, some real estate markets are struggling along. We’ve recently discussed the best small towns to buy a home and outlined most rapidly growing counties but today we’d like to reveal the areas that are struggling. The...
Homebuyer tax credits are almost certainly returning. Sacramento-area buyers can begin claiming $10,000 tax credits starting May 1 under a bill expected to be signed soon by Gov. Arnold Schwarzenegger. The legislation allocates $200 million for more state tax credits – twice what was offered last year to 10,659 buyers of new, unoccupied homes....
PHOENIX (AP) — The five states hardest hit by the foreclosure crisis have been given only weeks to plan how to spend $1.5 billion in federal funding announced by the Obama administration last month. Guidelines issued under the U.S. Treasury Department’s Fund for Hardest Hit Housing Markets on March 5 gave housing finance agencies...
I have maintained and continue to maintain that unless and until we see a measurable decline in mortgage delinquencies, we will not truly experience a measurable turn in the tide for housing overall. In this same vein, new studies project that measures taken to aid delinquent borrowers and to stem the tide of foreclosures...
Big US banks including Bank of America, Wells Fargo, JPMorgan Chase and Citigroup are moving to clear their books of troubled mortgages by embracing “short sales”, in which homeowners settle debts by selling their properties for less than the mortgage value. Short sales are expected to climb sharply this year as home values continue...
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