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Servicers participating in the Home Affordable Modifications Program extinguished more than 1,000 second-lien mortgages in June, according to Treasury Department data. Fannie Mae, which administers HAMP, directed participating servicers to begin modifying second liens on Jan. 1. Defaults on second mortgages dropped to 1.4% in June, according to the Standard & Poor’s/Experian index, down a full percentage point from a year ago. At least through HAMP, modifications on these loans have been steadily climbing since Fannie directed its servicers to participate in the 2MP program (The chart below notes that […]

The median value of an existing home in the Orlando area was up in July compared with a year earlier and hit its highest mark so far this year, said a new report by the Orlando Regional Realtor Association. Though home resales of distressed properties were still rampant — foreclosures and short sales made up nearly 58 percent of all July sales — metro Orlando’s median price climbed to $117,000 last month. That represented a 7.6 percent jump from July 2010’s median price of $108,700 and a 23.3 percent jump […]

The number of same-sex couples who call New Jersey home increased significantly over the last 10 years, according to the latest census figures. There are 24,112 same-sex couples living in New Jersey — a 45 percent increase from 2000, according to the 2010 Census. By comparison, New York City has 32,972 same-sex couples. The sharpest increase was in Asbury Park, which had a 305 percent gain in the same sex couples. Hoboken (70.7 percent increase), Jersey City (44.2 percent) and Newark (12.7 percent) all saw significant increases. Anthony Newarski and his […]

That depends largely on your income. Experts suggest your mortgage payment be no more than 28-35% percent of your monthly income. This income-debt ratio is the percentage of your monthly income dedicated to making your monthly mortgage payment. If you want to maximize your home buying potential, you can assume that more of your income will be tied up in your monthly mortgage payment. Let’s assume your gross income is a $100,000 a year and you have $20,000 for a down payment. You conservatively elect to spend 28% of your […]

Property values in Tauranga are staying steady, with QV reporting a slight drop in value in July on the same month last year. The city’s property values were 1.7 per cent lower than last July, QV’s Residential Price Index for July showed. Shayne Donovan-Grammer of QV Valuations said there had been no significant changes to the Tauranga market in the past two months. But feedback from real estate agents indicated there was a shortage of “tidy” homes for sale that were centrally located in the lower to mid value category, […]

Foreclosure filings across Broward and Palm Beach counties are down in July by more than 50 percent compared with a year ago, according to RealtyTrac Inc., an Irvine, Calif.-based listing firm. Nationally, foreclosure activity hit a 44-month low. It’d be great if all this were a sign of an improving economy, but it’s not. “This string of decreases was initially triggered by the robo-signing controversy back in October 2010, which forced lenders to substantially slow the pace of foreclosing, but the downward trend in foreclosure activity has now taken on […]

One of the most common pitfalls that LGBT buyers and home sellers make is that they don’t spend enough time and energy choosing their gay Realtor. But choosing a gay-friendly or LGBT real estate agent can make all the difference in the world. An expert gay Realtor can save you time, money, and headaches – while making the home buying or selling process smoother, easier, and more rewarding. Here are three tips for hiring a great gay or LGBT friendly real estate agent: Find Out their Specialty  There are many […]

Here’s great news that hopefully sticks: Foreclosure filings in Mecklenburg County for July fell — make that plummeted — to just half the number filed in July 2010, according to Thursday’s report from research firm RealtyTrac Total filings for Mecklenburg for July: 702. In July 2010: 1,441. That’s a 51% decline. July’s numbers are also down 29% from June 2011, when 992 filings were recorded. The figures compiled by RealtyTrac include default notices, lis pendens, foreclosure actions and auctions, and lender repossessions. The number of homes seized by financial institutions […]

Foreclosure rates continue to decrease dramatically year-over-year in the Memphis area and across the nation, but the slowdown necessarily doesn’t portend positive news, according to RealtyTrac Inc. RealtyTrac Inc. Latest from The Business Journals Home foreclosures up 10 percent in Austin areaRealtyTrac: Foreclosures fall to 44-month low; California still one of top statesWashington state’s foreclosure rate falls Follow this company ’s latest monthly data. RealtyTrac reported there were 547 foreclosure filings — default notices, scheduled auctions and bank repossessions — in July in the greater Memphis market, down 61 percent […]

As the housing bust moves through a sixth year, you find something to celebrate wherever you can. Home values in Palm Beach, Broward and Miami-Dade counties rose 1.1 percent in the second quarter compared with the first quarter, according to data released Tuesday by Zillow.com. It was the first quarterly increase for the three-county region since June 2006. “That’s good news,” said Svenja Gudell, senior economist for Zillow, a Seattle-based real estate website. “We’re seeing the first signs of stabilization in that market.” Now, for the disclaimer: Zillow doesn’t expect […]