Benton and Washington counties sold more family homes this month than the previous month. This is a result of average house prices that at 8.4% lower than the same period last year. Home buyers are also taking advantage of lower overall mortgage rates offered by lenders.
http://www.arkansasbusiness.com/article.aspx?aid=115869.54928.127998
The Obama Mortgage Plan is simply not good enough after being unveiled 5 months ago. While people are faced with losing their homes and waiting for answers or action taken by counselors, the service providers of the Obama Plan has been slow to follow through on many cases. This is a case of mismanagement and execution of a good idea than anything else.
When foreclosures continue to outpace mortgage modifications and refinancing, the Obama Mortgage Plan needs to reevaluate the course of action.
http://money.cnn.com/2009/07/07/news/economy/Obama_mortgage_plan/index.htm
Mortgage insurer PMI Group is forecasting lower housing prices by the end of March 2011 in 30 of the top 50 metropolitan areas. Forecasting algorithm uses a combination of price-appreciation trends, affordability, unemployment, interest rates and local economic conditions.
http://www.inman.com/news/2009/07/8/mortgage-insurer-ids-weak-markets
You can view a copy of the PMI research report at http://www.pmi-us.com/econ/index.html
Mortgage lender – North American Real Estate Services Inc. has been fined and ordered to repay homeowners by North Carolina officials for avoiding state regulations.
Imagine you are the bank where an empty lot is written up as a $500,000 two family home transaction, and you end up holding on to over-valued nonexistent property and mortgage contracts. These are the types of fraudulent transaction shams major banks were taken for over a period of 4 years.