Distressed homeowners in Maricopa Arizona may see some relief in the form of principal reductions. But don't hold your breath! The Obama administration announced that they are making a few changes in the HAMP program. Among them is tripling the incentives they offer to investors that agree to red
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01/28/2012
Freddie Mac reported that mortgage rates edged up 10 basis points last week. The 30 year rate jumped from 3.88 to 3.98, the first such increase following a few weeks of record lows. It's hard to sy at this point if this is a trend or an anomoly but it's worth watching. I think we all realize that
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01/27/2012
Apparently the housing market in Maricopa Arizona is way ahead of the curve as the inventory of homes for sale is down approximately 66% form the same time last year. This articler, based on statistics from Realtor.com, attempts to paint a picture that the housing market is on the rebound or at l
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01/25/2012
This article by DSNews cites a number of conflicting reports about whether or not the litigation between the nation's State Attorney Generals and the five major lenders may be reaching a settlement. It appears that Obama wanted to announce this at his State of the Union address but sources say a
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01/24/2012
The Monday Morning Cup of Coffee is brought to you every week by Housing Wire. This week's issue details an MI company's financial probelms , the latest on stste Attorney Generals litigation with the major lenders and much more. Enjoy! http://bit.ly/AcVus4
01/23/2012
This was recently posted on Housing Wire. "The Federal Housing Administration will toughen its standards for approving lenders that insure mortgages on its behalf and force more of them to buyback defaulted loans. FHA Commissioner Carol Galante said the upcoming rule changes will help the agenc
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01/20/2012
Relief may be on the way for distressed homeowners in Maricopa Arizona. But don't hold your breath! In a recent article posted by DSNews.com, the negotiation talks between the state attorneys general and the nation’s five largest servicers are entering their second year but may be getting close t
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01/19/2012
This article from DSNwes.com mentions that Carrington Holding Company LLC will fund the purchase of up to $450M of distressed single family homes across the country. Carrington currently manages over 3,000 single-family rental homes under Fannie Mae’s Tenant-in-Place and Deed-for-Lease programs.
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01/19/2012
In spite of the large influx of seasonal buyers looking for homes in Maricopa Arizona, the inventory jumped signifigantly this past week. I’ll go into more detail below but this is very unexpected given the rest of the tracking numbers. Values continue to remain strong with much of the new listin
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01/18/2012
Over the past six months, the inventory of single family homes in the subdivisions of Maricopa Arizona has more then doubled, from 440 to over 970. Most of this increase is due to an influx of distressed homes, both short sales and foreclosures. This has occured in spite of the buying activity th
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01/13/2012
