Real Estate News Blog April Archive

Fannie, Freddie and WaMu Spearhead Subprime Borrower Help

By Art C. Ryder at 04/20/07 20:17

Declares the response by Fannie Mae, Freddie Mac and Washington Mutual to aid subprime mortgage borrowers avoid foreclosure by refinancing their adjustable mortgage rate deals. The monies set aside for foreclosure avoidance purposes is a drop in the bucket, a few billion dollars, compared to size of the subprime market. They are not going to be able to help everyone facing forclosure.

Original source: . Fannie, Freddie and WaMu Spearhead Subprime Borrower Help

HELP for Homeowners Selling Homes That Are Facing Foreclosure a Financial Nightmare - Company Opens 16 New Offices across the Unit

Presents HELP, a company dedicated to aiding homeowners that are potentially facing foreclosure. If you’re looking to avoid foreclosure, HELP might help.

Original source: . [404 Check: was link to http:/ / www. forbes. com/ businesswire/ feeds/ businesswire/ 2007/ 04/ 19/ businesswire20070419005317r1. html, anchor: HELP for Homeowners Selling Homes That Are Facing Foreclosure a Financial Nightmare - Company Opens 16 New Offices across the United States]

Subprime assault on southern California

Subprime mortgages payments are rising high for homeowners in Southern California leading to record increases in delinquencies and foreclosures. Riverside, San Bernardino and Inland Empire Counties are the worst off due to increased new housing stock, and the doubling of property values in just five years. Many people are heading toward forclosure with little help currently available because they are in way over their heads.

Original source: . Subprime assault on southern California

Hawaii Real Estate is Booming Due to Retirement of Baby Boomers

Suggests that Hawaiian real estate is still booming and should continue to rise in value as baby boomers are seeking more luxurious homes and locals for retirement. Many boomers have considerable nest-eggs that they are trading in for investment in new real estate properties on the Hawaiian islands. Important is the relatively small size of the Hawaiian real estate market and the fact that a few hundred new home buyers makes a huge difference.

Original source: . Hawaii Real Estate is Booming Due to Retirement of Baby Boomers

Shiller: Mr. Worst-case scenario

This guy thinks that the housing market, foreclosures and all, is still due for further correction and that home prices may continue to fall over the next ten years. Residential real estate as an investment, he suggests, gave zero return after inflation until the 1990’s. If you’re considering investing in real estate, or otherwise, he suggests looking at overseas markets.

Original source: . Shiller: Mr. Worst-case scenario

Lenders get into foreclosure business, particularly in West

Relates the debate between multiple parties about the role banks and lenders may play in determining whether homeowners should go through or avoid foreclosure. Consumer advocates argue that it is mind-boggling to have the lender who made the bad loan make money on the flip of the house, while bank representatives suggest that they should be able to recoup their investment as cheaply and quickly as possible. Either way, foreclosure help is necessary these days.

Original source: . [404 Check: was link to http:/ / www. signonsandiego. com/ news/ business/ 20070417 -1152 -lenders -foreclosures. html, anchor: Lenders get into foreclosure business, particularly in West]

Subprime solution: Swap ARMs for fixed-rates

Describes the alternatives before a government committee to address the subprime induced foreclosure market. Help to avoid foreclosures may come in the form of refinancing foreclosure destined homeowners; the issuance of government bonds to fund a transfer from variable loans rates to fixed loan interest rates; and finally, one time payments from state government funds to help foreclosure victims make payments over the short term.

Original source: . Subprime solution: Swap ARMs for fixed-rates

Fannie Mae and Freddie Mac to Help Subprime Borrowers -- WSJ

Foreclosure help may be available in the near future due to moves to be made by Fannie Mae and Freddie Mac. The two government-backed housing lenders may buy subprime loans and refinance them for thirty to forty years at fixed interest rates.

Original source: . Fannie Mae and Freddie Mac to Help Subprime Borrowers -- WSJ

California foreclosures near record levels

California foreclosures levels not seen since the last housing market downturn in the mid-1990s. Foreclosure percentage changes from just a year ago are astounding. Most greatly affected areas are places where housing was initially inexpensive such as the Inland Empire and Central Valley. As defaults rise, there may be increased calls for foreclosure help or mortgage relief.

Original source: . [404 Check: was link to http:/ / www. latimes. com/ business/ la -fi -forclose17apr17,0,5052032. story?track=mostviewed -storylevel, anchor: California foreclosures near record levels]

Subprime bailout? $120 billion

Suggests that a government or industry financed bail out of homeowners facing foreclosure due to the subprime boom and bust could be over $120 billion. Many economists feel sorry for people facing forclosure, but don’t know that they would want to pay extra taxes so that the money made by mortgage lenders will get paid. Some projections suggest that the next six years might be bumpy ones for the real estate and mortgage industry.

Original source: . Subprime bailout? $120 billion