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+7 ·
Distress signal - Florida leads in foreclosures
Filed Nov 08, 2006 at 12:51 AM ·
Florida led the nation in foreclosure activity for the third quarter of this year as adjustable-rate mortgages came home to roost, a RealtyTrac report shows.
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+7 ·
Man admits bilking those facing foreclosure
Filed Nov 01, 2006 at 1:04 PM ·
An Atlanta man admitted in federal court Tuesday that he swindled homeowners facing foreclosure through a scheme that involved advertisements and "seminars" at the Chicago Public Library.
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+21 ·
On The Brink
Filed Oct 22, 2006 at 3:30 PM ·
No one expects to face foreclosure when they purchase a home.
However, a weak housing market and higher interest rates are putting more and more homeowners at risk, according to Patrick Precourt, a pre-foreclosure specialist based in Rocky Hill.
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+5 ·
Foreclosure rates, default notices soar
Filed Oct 15, 2006 at 7:11 PM ·
San Diego County is experiencing mortgage foreclosure rates not seen for the past eight years, two monitoring companies reported yesterday.
Locally based DataQuick Information Systems said foreclosures totaled 171 last month, more than 10 times what they were a year ago and the highest since 1998.
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+18 ·
The homeowners day of reckoning
Filed Oct 15, 2006 at 4:28 PM ·
As property values soared, we got hooked on the idea of using our house as a bank, pulling out blocks of equity to pay for renovations, vacations, and more. Now, will the softer real estate market cost some of us our homes, our shirts, even our retirement?
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+9 ·
Florida Foreclosure rates stay high
Filed Oct 14, 2006 at 6:31 AM ·
The number of homes in some stage of foreclosure in Palm Beach County and the Treasure Coast soared last month compared with a year ago, while Florida posted the second-highest number of new foreclosure filings in the nation, according to RealtyTrac. The new report gives fresh evidence that local homeowners are struggling with budget-busting energy prices, adjustable-rate mortgages resetting at higher rates and a sluggish home-sales market.
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+11 ·
Fed Finds Cooling in Housing Market
Filed Oct 12, 2006 at 4:52 PM ·
The Fed's latest survey of business conditions around the country found the economy expanding with growth being described as "moderate or mixed."
However, the report found there was a distinct slowdown in housing with the majority of the Fed's 12 regions reporting lower asking prices for homes, a softening in sales and rising inventories of unsold homes.
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+8 ·
Loan applications, refinancings tumble
Filed Oct 12, 2006 at 3:04 PM ·
The Mortgage Bankers Association said Wednesday that its index of applications to buy a home or refinance an existing loan dropped 5.5 percent, the most since June, to 599.1. The group's index of home purchases slid 5.3 percent, to 383.3.
"Housing is still slowing down, and there's no real sign of a turnaround," said David Sloan, chief U.S. markets economist at 4Cast.com in New York. "Inventories have become overinflated. Prices have to fall further to encourage buyers."
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+5 ·
QUOTATION ALERT - Greenspan - Housing market worst may be over
Filed Oct 09, 2006 at 5:54 PM ·
The U.S. housing market appears to be emerging from its recent travails and the "worst may well be over," former Federal Reserve Chairman Alan Greenspan was quoted as saying on Friday.
"I suspect that we are coming to the end of this downtrend, as applications for new mortgages, the most important series, have flattened out," Greenspan said at an event in Calgary, Canada, sponsored by BMO Financial Group, according to a transcript BMO made available. [Editor: Watch this one, it is a huge contender to be added to the list of housing bubble quotes.
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+8 ·
Fear and anxiety in the housing market
Filed Oct 08, 2006 at 2:54 PM ·
Janelle Reagan has a nickname for her suburban side street: ``Realtor's Row."
The label refers to the array of for-sale signs that mark the entry to her Katherine Heights neighborhood. Each placard peddles a different condo, all of them nearly identical to hers. For Reagan, though, the signs aren't simply advertisements; they are a constant reminder of the situation she and her husband Troy find themselves in at this stage of a soft real estate market: Their condo is just another facade in the crowd.
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+2 ·
Puget Sound housing market keeps slowing
Filed Oct 07, 2006 at 6:08 AM ·
At the beginning of the year, local housing experts predicted the Puget Sound area's super-heated real-estate market would slow. What they couldn't predict was exactly when or how much.
It's now, and the drop-off has been marked.
September's median sales prices for houses and condominiums revealed 9.4 percent annual appreciation for the region — the first single-digit increase in two years, according to the Northwest Multiple Listing Service, which released its September housing activity report Friday.
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+4 ·
MORTGAGE BANKERS: Loan application volume increasing
Filed Oct 05, 2006 at 7:32 AM ·
"Refinance applications continue to increase as mortgage rates have declined to their lowest levels since the beginning of the year," said Mike Fratantoni, the group's senior director.
The study showed that the refinancing share of mortgages active was 46.7 percent of total applications, up from 44.3 percent the previous week. It was the highest share since February 2005, the association said.
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+4 ·
Home owners risking big debt
Filed Oct 03, 2006 at 6:17 AM ·
Second mortgages and home-equity credit lines are on the upswing in Michigan, as they are across the nation -- but they could come at a dangerous price, considering that median property values in the state aren't increasing as they are elsewhere in the United States.
The Census Bureau released data for publication today showing that Michigan's median home values rose 19% in the last five years, compared with a national average of 32%.
Meanwhile, 19% of Michigan homes have a second loan on them. Nationwide, 17% do.
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+5 ·
Hot housing market is cooling off
Filed Oct 03, 2006 at 4:39 AM ·
Zella Harrington and her husband, Melvyn, love their West End home but wish they would have sold it two years ago.
That's when nearby homes similar to their three-story, six-bedroom house were selling for $400,000 to $500,000. But sales have since slowed.
The Harringtons have had their home on the market for five months without a bite, despite a couple of price reductions. It's listed at $365,000.
"I think it's worth more than that, but of course I'm biased," Zella Harrington said.
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+5 ·
Homes for keeps
Filed Sep 29, 2006 at 5:24 AM ·
Anew effort to reduce foreclosures in Baltimore is a smart and forward-looking strategy to promote neighborhood stability and shore up the city's tax base. Although some neighborhoods have been harder hit than others, left unchecked, this trend could undermine revitalization efforts citywide.
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