New data shows the number Phoenix-area homes taken back by lenders fell to its lowest level in January since early 2008.
Last month, there were 2,263 foreclosures, or trustee sales, in the region, according to the Information Market. Pre-foreclosures, also known as notice of trustee sales, fell to 2,932, the lowest level since the summer of 2...Read More
The much-anticipated details of a sweeping plan to help nearly 15 million Americans underwater on their mortgages refinance to lower rates were announced this morning by President Barack Obama during a speech in Falls Church, Virg.
The plan, first mentioned in one of the president’s speech last October, would be broadened to inclu...Read More
In President Barack Obama’s State of the Union last night, he vowed to keep the “American dream” alive.
His plan includes legislation that would extend the expanded HARP refinancing program to homeowners with private loans.
Currently only underwater homeowners with mortgages backed by government-owned Fannie and...Read More
Fannie Mae and Freddie Mac are changing the rules in a way doing something that could make metro Phoenix’s many home investors very happy.
The new program that allows homeowners with mortgages held by those government-owned mortgage giants to refinance, no matter how underwater they are, now will include investors. When ...Read More
New-home sales across the Phoenix area in 2011 hit their highest level at the end of the year, according to the “Phoenix Housing Market Letter.”
In December 855, new homes sold. That’s nearly double the monthly rate in Phoenix for most of 2011. It could be that the supply of foreclosure- and resale homes is at a seven-y...Read More
Problems similar to those that played out lenders, servicers and borrowers in housing market during its foreclosure crisis, are now issues for the commercial real estate market.
Earlier this week at a Arizona Commercial Mortgage Lenders Association meeting, much of the discussion was about difficulties of buying office buildings, hotels, ware...Read More
Arizona prosecutors have cracked down on another scheme that takes advantage of homeowners facing foreclosure.
Gerald Lee Kelly, 47, of Gilbert has been indicted by a federal grand jury in Phoenix for wire and mail fraud, money laundering and structuring financial transactions to avoid federal bank requirements.
Arizona State University has a new real estate analyst, but he’s no newcomer to metro Phoenix’s housing market.
Mike Orr, publisher of The Cromford Report, the daily online real-estate market analysis for metro Phoenix, has joined the W.P. Carey School of Business. The Oxford University-educated mathematician from England will pro...Read More
This week, more questions and concerns about metro Phoenix’s housing market.
Question: Concerning HARP. Last I read, it was on hold awaiting more information. Have you heard anything lately about when final details will be release to the public? - AZBoomer1947
Answer: There’s still no word on the federal government’s e...Read More
A few years ago, Phoenix mortgage broker Jodi Polanski began hearing heart wrenching stories from real estate agents about pets abandoned in foreclosure homes. The agents would call the lender or property management firm taking care of the house, but little was being done to help save the cats and dogs left behind. Some agents couldn’t even g...Read More
