Category Archives: bank

Foreclosure Update – Florida on the Rebound?

Posted on April 27, 2011 by gatearty

Online foreclosure resource, Realty Trac, has reported that the number of foreclosure filings is down a whopping 27% in the first quarter on 2011 when compared to 2010. The decrease in foreclosure was across the board and occurred in all … Continue reading →

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Cash is King

Posted on March 10, 2011 by gatearty

A slew of new rules, regulations and policies have changed the mortgage landscape, thus making buying a new home a bit more difficult & more “expensive.” A few short years ago, first-time buyers accounted for 40% of home sales. Today, that … Continue reading →

Posted in bank, down payment, FHA, investing, mortgage, real estate investing, real estate sales | Leave a comment

Florida Foreclosures Go Down

Posted on March 10, 2011 by gatearty

According to RealtyTrac, the number of foreclosure notices filed in February dropped an astounding 14% from January and a staggering 27% compared with a year earlier for the biggest year-over-year decline. So what’s up with that?  Well, many experts believe … Continue reading →

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Underwater Homes

Posted on March 9, 2011 by gatearty

“Falling home prices at the turn of the year pushed more borrowers into a negative equity position, meaning they owe more on their mortgages than their homes are worth.  In Q4, 23% of borrowers nationwide, or 11.1 million, were holding … Continue reading →

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Banking Probe Ongoing

Posted on March 1, 2011 by gatearty

Wells Fargo & Bank of America may take a hit in their own collective wallets soon. The nation’s largest home lender, Wells Fargo, acknowledged that it will likely incur fines from regulators and government agencies as a result of its … Continue reading →

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Distressed Sales Dominate

Posted on February 28, 2011 by gatearty

It appears that 1 of every 4 sales last year was a distressed sale. RealtyTrac recently reported that 26% of all homes sold last year were foreclosures and short sales. People are targeting foreclosures because of the discounted values. Homes already … Continue reading →

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Rates Go Down, Mortgages Go Up

Posted on February 24, 2011 by gatearty

Mortgage applications increased 13.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending February 18, 2011. The Refinance Index increased 17.8 percent from the previous week. Ongoing turmoil in … Continue reading →

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A Farewell to ARMs?

Posted on February 15, 2011 by gatearty

Adjustable Rate Mortgages (ARMs) used to be all the rage. They represented a whopping 70% of all mortgages issued during the real estate boom! Adjustable rate mortgages vanished during the real estate downturn, however, totaling a mere 3% of the market in 2009. Fast forward to present … Continue reading →

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Who HAMP Helps

Posted on February 2, 2011 by gatearty

The United States Treasury Department announced that more than a half million people have received assistance by way of permanent mortgage modifications utilizing the Home Affordable Modification Program, also referred to as HAMP. Some of you may be curious of … Continue reading →

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What’s Lurking in the Shadows?

Posted on January 25, 2011 by gatearty

There is a healthy amount of real estate inventory currently on the market right now, but you may have heard media outlets refer to a “shadow inventory” that is still looming. What is shadow inventory? It represents the properties whose … Continue reading →

Posted in bank, finance, foreclosure, loan modification, mortgage | 1 Comment