Despite widespread opposition from the finance industry and the Federal Housing Finance Agency (FHFA),Richmond California, plans to move forward with a plan to use the government’s “eminent domain” privilege to seize homes with underwater mortgages on behalf of homeowners. Richmond’s city council approved the plan in a narrow four-to-three vote early Wednesday, according to Reuters. via California […]
The number of U.S. properties subject to foreclosure filings — notices of default, scheduled auctions, or bank repossessions — fell on an annual basis for the 35th straight month in August, to 128,560, according to a report released today from foreclosure data aggregator RealtyTrac. That’s a 34 percent year-over-year decrease, driven largely by a 44 percent […]
Good sign for a recovering real estate market. DSNews reporting the number of mortgaged residential properties with negative equity fell more than five percentage points throughout the year’s second quarter, based on CoreLogic’s report. Negative Equity Drops in Q2, 1.7M Still ‘Near-Negative’
Spending on new home construction rose to its highest level in nearly five years in July, suggesting that some builders have shrugged off rising interest rates. #realestate via Home Construction Spending at Highest Level Since 2008 – Real Time Economics – WSJ.
Great news by RealtyTrac reporting that 8.3 million Homeowners are nearing positive equity and should be able to sell their home in the next 15 months without needing to do a short sale. Read the full article here, Study Finds 8.3M Homeowners on Verge of Positive Equity.