Ocwen Financial Corp., a servicer of residential mortgages, launched a new loan modification program to reduce the principal on a mortgage for delinquent borrowers, but the borrowers must agree to let loan investors share in future appreciation of the home’s value when the market recovers >> More.
This new type of program is interesting and I wonder if other loan institutions will try something similar?
Wednesday, July 27, 2011
Tuesday, July 26, 2011
Where Did Buyer Find Their Home?
From a NAR study 36% found their homes through a real estate agent, 36% found their home through use of the internet, and 12% found their home through a yard sign or open house. Companies like ReMax, Keller Williams, Caldwell Bankers, etc are spending large sums of advertising dollars on magazine and print media advertisement. However only 2% of all homes purchased in 2009 were discovered using print media. As a result when finding a realtor analyze their technology knowledge.
Monday, July 25, 2011
Latest Housing Trends Newsletter
Latest on local market trends, economic indicators, new home sales, and much much more. >> More
Internet now plays a very large roll in real estate!
Consumers in search of information about their local housing market are making national, third-party sites like Zillow and Trulia their first stop -- even though the websites of real estate brokers and agents who once served as the gatekeepers of such knowledge often have more complete listings data. This is just one of many reasons buyers and sellers should seek internet and technology savy realtors. For example companies like ReMax who put large sums of money into magazine advertisements are not adequately marketing sellers homes.>> More
Jerry Seinfeld Colorado Mansion For Sale
Fourteen thousand two hundred square foot home located in Telluride, Colorado. It has eleven bedrooms, spa, and full gym. Check out the pictures. >> More
Friday, July 22, 2011
Buyers Rejected for Loans Can Now Find Out Why
A provision in the Dodd-Frank financial reform law, which took effect this week, is requiring lenders to provide consumers with a free credit score, which will help provide new insights into why they may have been rejected for a loan or did not qualify for the best, lowest rate. >> More.
Federal Trade Commission Issuing Nearly $108 Million in Refunds
Hundreds of thousands of homeowners who took out mortgages with Countrywide Financial Corp. will soon receive their slice of a $108 million settlement over claims that the lender charged outsized fees to borrowers facing foreclosure. The Federal Trade Commission said Wednesday that it will mail refund checks to 450,177 borrowers starting Thursday. The action is part of a settlement agreement the agency reached last year with Bank of America Corp., which acquired Countrywide in 2008. >> More
Thursday, July 21, 2011
Zillow Is Going Public at Full Valuation
PGA joins Realtors to market golf-course homes
The Southwest Section of the Professional Golfers’ Association has teamed up with Realtors to help golfers buy homes on or near golf courses in Southern Nevada. >> More
Wednesday, July 20, 2011
Importance of Shopping Around for a Mortgage
A survey from Bankratefound that it can pay off for borrowers to shop around for a mortgage. In New York, for example, lender origination fees were found to vary anywhere from $700 to more than $4,000. The most expensive state is New York followed by Texas for closing costs. For more including the cheapest states go here.
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