In the annual State of the Union address on Tuesday evening, President Barack Obama’s vow to help struggling homeowners refinance their mortgages and improve the housing market offered glimmers of help for the real estate industry.
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In the annual State of the Union address on Tuesday evening, President Barack Obama’s vow to help struggling homeowners refinance their mortgages and improve the housing market offered glimmers of help for the real estate industry.
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Foreclosures have been known to cause financial stress but a recent study led by researchers at the University of Maryland suggest that high foreclosure rates are to blame for increased health issues in Americans over the age of 50.
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Congressman Lou Barletta returned to his hometown of Hazleton to meet and greet with Realtors® from northeastern Pennsylvania. Almost 40 Realtors® from the Greater Hazleton, Greater Scranton, Greater Wilkes-Barre, Pocono Mountains and the Carbon County associations were in attendance. The meet and greet, sponsored by the National Association of Realtors®, provided an opportunity for...
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There's renewed interest in America’s housing markets according to a recent Wall Street Journal’s (Feb. 8, 2011) lead article. Thinking that prices cannot fall much further, purchasers are “breathing life into some of the nation’s most battered housing markets.”
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Lawrence Yun, chief economist and senior vice president for research for the National Association of Realtors®, told the Economics Club of the York County Chamber of Commerce that the second half of 2011 should see an improvement in the housing market over the same time last year.
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Once upon a time in a land which seems far, far away, households scrimped and saved often just enough money for a minimal down payment to purchase their own homes, just as their parents had done before them.
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“Financing is much more challenging today,” said Aaron Gordon, retail sales manager, Bank of America, Las Vegas. He suggests building relationships with loan officers in your area to learn about their programs.
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PHFA has been locking in more than 100 mortgages a week since the low interest rates were announced, according to Kate Newton, PHFA director of Homeownership Programs. Newton anticipates the new competitive rates, some as low as 3.25 percent, will be available through the spring.
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FHA will offer the new FHA-insured mortgage to certain “underwater” non-FHA borrowers who are current on their existing mortgage and whose lenders agree to write off at least 10 percent of the unpaid principal balance of the first mortgage.
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Tuesday, Feb. 7, 2012
